Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 30

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 the holder, into 1.62 fully paid and nonassessable shares of the Company’s common stock. The Amendment was
    necessary as the terms of the Certificate of Designation for the Preferred Stock expressly provided that the conversion ratio of
    162 shares of common stock for each share of Preferred Stock would not be reduced in the event of a stock split or other capitalization
    of the Company.

    ●
    The
    Company’s outstanding 10,000,000 shares of Preferred Stock were converted on a one for 1.62 basis into 16,200,000 common shares.
    Concurrently these Preferred Stock were cancelled.

    ●
    Formation
    of Blue Print Global, Inc. (November 30, 2022) – On November 30, 2022, the Company 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. The Company currently holds 85% of Blue Print, and the balance is held by an individual unrelated to the Company.

    8

    ●
    Blue
    Print Agency Agreement (December 7, 2022) – On December 7, 2022, Blue Print entered into an Agency Agreement (the “
    Agency Agreement “ ) with International Supply Chain Alliance Co., Ltd. of Hong Kong ( “ ISCA”). Pursuant to the
    Agency Agreement, Blue Print appointed ISCA as its authorized agent to distribute warehouse patrol robots in the People’ s
    Republic of China ( “China”). The Agency Agreement is valid for five years and will be automatically renewed for another
    five years unless a written non-renewal notice is provided by either party at least 30 days before the expiration date. However,
    there is no early termination option in the Agency Agreement.

    ●
    Share
    Exchange with QBS System Limited (December 15, 2022) – On December 15, 2022, the Company entered into a share exchange
    agreement (the “Share Exchange Agreement”) with QBS System Limited, a limited company incorporated under the laws of
    Hong Kong ( “ QBS System “ ), and its shareholder, QBS Flywheel Limited, a company incorporated under the laws of Australia
    (the “Seller”). On March 22, 2023, the Seller transferred and assigned to the Company all of the issued and outstanding