Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 38

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 The following
discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly
report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results
could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences
include, but are not limited to, those discussed below and elsewhere in this quarterly report.

In
this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to “common
shares” refer to the common shares in our capital stock.

As
used in this quarterly report on Form 10-Q, “we”, “our”, “us”, “FWFW” and the “Company”
refer to Flywheel Advanced Technology, Inc., a Nevada corporation and its subsidiaries unless the context requires otherwise.

Overview

Flywheel
Advanced Technology, Inc. (“FWFW”) (formerly known as Pan Global Corp.) was incorporated in the state of Nevada on April
30, 2010. On November 30, 2022, FWFW incorporated Blue Print Global, Inc. (“Blue Print”) in the British Virgin Islands to
establish an operation to source the supply and sale of warehouse patrol robots. FWFW holds 85% of Blue Print, and the balance is held
by an individual unrelated to the Company. On March 22, 2023, FWFW acquired QBS System Limited (“QBS System”), a limited
company incorporated under the laws of Hong Kong (the “QBS Acquisition”). FWFW were formed to provide Internet of Things
(“IoT”) solutions and services to assist its clients to build applications using available IoT devices, sensors, frameworks,
and platforms, integrate hardware and software solutions with clients existing landscape, or implement new IoT solutions for enterprises.

Through
QBS System, we offered a comprehensive range of IoT services, including consulting, development and implementation, analytics, support,
and continuous evolution. QBS System’s business portfolio encompassed IoT integration solutions, maintenance and support services,
IoT projects and ventures, Business Process Outsourcing (“BPO”) services, and nearly twelve years of experience in Hong Kong
providing both IoT software and hardware engineering services. Its clientele spanned a wide array of industries, including logistics
and supply chain management, food & beverage, automation, and smart buildings. QBS System’s IoT solutions supported applications
such as connected enterprise equipment and industrial assets, including machines and robots, which are