Company: FWFW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001641172-25-009382
Chunk: 28

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 28
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 (215,127)
  
    Discontinued operations,
    net of tax 
     -  
     58,484
  
    NET LOSS 
     (45,252) 
     (156,643)
  
    Foreign currency translation
    gain 
     -  
     2,999 
  
    COMPREHENSIVE LOSS 
    $(45,252) 
    $(153,644)

Revenue

During
the six months ended March 31, 2025 and 2024, we did not have any revenues.

Operating
expenses

General
and administrative expenses

During
the six months ended March 31, 2025, our operating expenses consisted primarily of professional fees of $42,868 and filing and other
fees of $2,384. During the six months ended March 31, 2024, our operation expenses consisted primarily of professional fees arising from
acquisition of QBS System of $212,736 and filing and other fees of $2,391.

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

20

Income
tax expenses

There
is no income tax expenses for the six months ended March 31, 2025 and 2024.

Discontinued
Operations

Net
profit from discontinued operations of $0 during the six months ended March 31, 2025, compared to net income from discontinued operations
of $59,024 during the six months ended March 31, 2024. The change was primarily attributable to the Mega Fortune Disposition completed
on July 5, 2024.

Net
loss

Net
loss decreased by $111,391 to $45,252 from $156,643 for the six months ended March 31, 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 loss

Foreign
currency translation loss

There
is no foreign currency translation loss for the six months ended March 31, 2025. Foreign currency translation gain of $2,999 for the
six months ended March 31, 2024 is incurred on translation of assets and liabilities of discontinued operations in reporting currency
adopted to the reporting currency of the Company.

Liquidity
and Capital Resources