Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 1

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 1
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 LLC as custodian of Pan Global Corp. (Case Number: A-20-816264-B).
David Lazar was subsequently appointed as the Company’s CEO, President, Secretary, CFO, and Chairman of the Board. On October 8,
2020, the Company restructured its share capital, converting 7,100,000 shares of preferred stock into shares of common stock and canceling
the original shares of preferred stock.

In
November 2020, the Company designated 25,000,000 new preferred shares, including 10,000,000 Preferred A-1 Shares, convertible to 162
shares of common stock. These shares were awarded to Custodian Ventures for services rendered.

On
May 5, 2021, the Nevada court (Case No. A-20-816264-B) terminated the custodianship, releasing the Company from unasserted claims and
debts arising before the termination date.

On
July 13, 2021, a Stock Purchase Agreement transferred control of the Company to Sparta Universal Industrial Ltd. (“Sparta”),
making it the majority shareholder. Following the transfer, David Lazar resigned from all his positions, and the Company appointed new
officers and directors, including Tang Siu Fung as President, Chief Executive Officer, and Chairman of the Board and Cheng Sin Yi as
Secretary and Treasurer.

In
November 2021, the Company’s name was changed to Flywheel Advanced Technology, Inc., with its trading symbol updated to
FWFW. On July 14, 2022, the Company implemented a 1:100 reverse stock split reducing the issued and outstanding common stock to 1,551,550
shares.

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On
September 15, 2022, the Company filed an Amendment (the “Preferred Stock Amendment”) to the Certificate of Designation for
its Preferred Stock with the Secretary of State of Nevada. This amendment, approved by the Board of Directors and Sparta, the sole holder
of all 10,000,000 shares of issued and outstanding Preferred Stock, revised the conversion rate to allow each share of Preferred Stock
to be convertible into 1.62 shares of common stock. This change ensured compliance with the Certificate of Designation, which stipulated
that the conversion ratio would not be reduced by a stock split or other capitalization.

On
the same date, Sparta converted all 10,000,000 shares of Preferred Stock into 16,200,000 shares of