Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 44

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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fees of $1,229. During the three months ended June 30, 2024, our operation expenses consisted primarily of professional fees of $103,650
and filing and other fees of $1,426. The decrease in the operating expenses from the period ended June 30, 2024 to June 30, 2025 was
as a result of the Mega Fortune Disposition.

All
operating expenses related to the QBS System segment were classified as held for sale or discontinued operations due to the Mega Fortune
Disposition.

Income
tax expenses

There
is no income tax expense for the three months ended June 30, 2025 and 2024.

Discontinued
Operations

Net
profit from discontinued operations of $0 during the three months ended June 30, 2025, compared to net loss from discontinued operations
of $67,213 during the three months ended June 30, 2024. The change was primarily attributable to the Mega Fortune Disposition completed
on July 5, 2024.

Net
loss

Net
loss decreased by $12,602 to $25,261 from $37,863 for the three months ended June 30, 2025, compared to the same period in 2024. This
decrease is primarily driven by decrease in professional fees due to Mega Fortune Disposition completed on July 5, 2024.

Other
comprehensive Income

Foreign
currency translation gain

There
is no foreign currency translation differences for the three months ended June 30, 2025. Foreign currency translation gain of $3,873
for the three months ended June 30, 2024 is incurred on translation of assets and liabilities of discontinued operations in their own
reporting currency which is HK Dollars to the reporting currency of the Company.

19

Comparison
of the Nine months Ended June 30, 2025 and 2024

The
following table provides the consolidated results of our continuing operations:

    For the Nine Months Ended June 30, 

    2025  
    2024 

    Revenue, net 
    $-  
    $- 
  
    Operating expenses 
     (70,513) 
     (320,205)
  
    LOSS FROM OPERATIONS 
     (70,513) 
     (320,205)
  
    LOSS BEFORE INCOME TAXES 
     (70,513) 
     (320,