Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 4

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 4
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 Global, Inc.
     
    November
    30, 2022
     
    85%
     
    Establish
    an operation to source the supply and sale of warehouse patrol robots.
  
    (British
    Virgin Islands Corporation)

We
use the terms “Company”, “we” and “us” to refer to both Flywheel Advanced Technology, Inc. and its
subsidiaries.

NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

    (A)
    Basis
    of Presentation

The
accompanying unaudited interim consolidated financial statements (“consolidated financial statements”) have been prepared
in accordance with the Financial Accounting Standards Board (“FASB”) “FASB Accounting Standard Codification™”
(the “Codification”) which is the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental
entities in the preparation of consolidated financial statements in conformity with generally accepted accounting principles (“GAAP”)
in the United States.

    (B)
    Unaudited
    Interim Consolidated financial statements

The
accompanying interim unaudited condensed consolidated financial statements (“Interim Financial Statements “) of the Company
and its wholly owned and majority owned subsidiaries have been prepared in accordance with accounting principles generally accepted in
the United States of America ( “ GAAP “ ) for interim financial information and are presented in accordance with the requirements
of Form 10-Q and Regulation S-X. Accordingly, these Interim Financial Statements do not include all of the information and notes required
by GAAP for complete financial statements. These Interim Financial Statements should be read in conjunction with the consolidated financial
statements and notes thereto for the year ended September 30, 2024 included in the Company’s Form 10-K. In the opinion of management,
the Interim Financial Statements included herein contain all adjustments, including normal recurring adjustments, considered necessary
to present fairly the Company’s financial position, the results of operations and cash flows for the periods presented.

The
operating results and cash flows of the interim periods presented herein are not necessarily indicative of the results to be expected
for any other interim period or the full year.

    10

    (C)
    Going
    Concern

Pursuant
to the guidance in ASC 205-40 Going Concern, for each annual and interim reporting period an entity’s management must evaluate
whether there are conditions and events, considered in the aggregate, that raise substantial