Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 11

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 11
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able
by the Company or its shareholders. Unanticipated issues which may be beyond our control or that of the seller of the applicable business
may arise that force us to terminate discussions with a target company, such as the target’s failure or inability to provide adequate
documentation to assist in our investigation, a party’s failure to obtain required waivers or consents to consummate the transaction
as required by the inability to obtain the required audits, applicable laws, charter documents and agreements, the appearance of a competitive
bid from another prospective purchaser, or the seller’s inability to maintain its operations for a sufficient time to allow the
transaction to close. Such risks are inherent in any search for a new business and investors should be aware of them before investing
in an enterprise such as ours.

Conflicts
of interest may arise between us and our shareholders, directors, or management, which may have a negative impact on our ability to consummate
a business combination or favorable terms or generate revenue.

Our
Chief Executive Officer, Mr. Lueng, is not required to commit his full time to our affairs, which may result in a conflict of interest
in allocating his time between managing the Company and other businesses in which he is or may be involved. We do not intend to have
any employees prior to the consummation of a business combination. Mr. Lueng is not obligated to contribute any specific number of hours
to our affairs, and he may engage in other business endeavors while he provides consulting services to the Company. If any of his other
business affairs require him to devote substantial amounts of time to such matters, it could materially limit his ability to devote his
time and attention to our business which could have a negative impact on our ability to consummate a business combination or generate
revenue.

It
is possible that we obtain an operating company in which a director or officer of the Company has an ownership interest in or that he
or she is an officer, director, or employee of. If we do obtain any business affiliated with an officer or director, such business combination
may be on terms other than what would be arrived at in an arms-length transaction. If any conflict of interest arises, it could adversely
affect a business combination or subsequent operations of the Company, in which case our shareholders may see diminished value relative
to what would have been available through a transaction with an independent third party.

-9-

We
may engage in a business combination that causes tax consequences to us and our shareholders.

Federal
and state tax