Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 12

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 12
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 consequences will, in all likelihood, be a significant factor in considering any business combination that we may undertake.
Under current federal law, such transactions may be subject to significant taxation to the buyer and its shareholders under applicable
federal and state tax laws. While we intend to structure any business combination so as to minimize the federal and state tax consequences
to the extent practicable in accordance with our business objectives, there can be no assurance that any business combination we undertake
will meet the statutory or regulatory requirements of a tax-free reorganization or similar favorable treatment or that the parties to
such a transaction will obtain the tax treatment intended or expected upon a transfer of equity interests or assets. A non-qualifying
reorganization, combination or similar transaction could result in the imposition of significant taxation, both at the federal and state
levels, which may have an adverse effect on both parties to the transaction, including our shareholders.

It
is unlikely that our shareholders will be afforded any opportunity to evaluate or approve a business combination.

It
is unlikely that our shareholders will be afforded the opportunity to evaluate and approve a proposed business combination. In most cases,
business combinations do not require shareholder approval under applicable law, and our Articles of Incorporation and Bylaws do not afford
our shareholders with the right to approve such a transaction. Further, two shareholder sown 68.92% of our outstanding Common Stock.
Accordingly, our shareholders will be relying almost exclusively on the judgement of our board of directors (“Board”) and
Chief Executive Officer and any persons on whom they may rely with respect to a potential business combination. In order to develop and
implement our business plan, may in the future hire lawyers, accountants, technical experts, appraisers, or other consultants to assist
with determining the Company’s direction and consummating any transactions contemplated thereby. We may rely on such persons in
making difficult decisions in connection with the Company’s future business and prospects. The selection of any such persons will
be made by our Board, and any expenses incurred or decisions made based on any of the foregoing could prove to be adverse to the Company
in hindsight, the result of which could be diminished value to our shareholders.

Because
our search for a business combination is not presently limited to a particular industry, sector or any specific target businesses, prospective
investors will be unable to evaluate the merits or risks of any particular target business’s operations until such time as they
are identified and disclosed.

We
are still determining the Company’s business plan, and