Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 95

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1A
Chunk 95
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    prices in active markets for identical assets or liabilities.

    Level
    2:
    Inputs
    other than quoted prices that are observable for the asset or liability, either directly or indirectly; these include quoted prices
    for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that
    are not active.

    Level
    3:
    Unobservable
    inputs with little or no market data available, which require the reporting entity to develop its own assumptions.

The
Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment
and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on
the most conservative level of input that is significant to the fair value measurement.

As
of September 30, 2024, the following table represents the Company’s fair value hierarchy for items that are required to be measured
at fair value on a recurring basis:

 SCHEDULE
OF FAIR VALUE HIERARCHY FOR ITEMS THAT ARE REQUIRED  AT FAIR VALUE ON A RECURRING BASIS

    Fair value measurements at reporting date using: 

    Fair value  
    Quoted prices in active markets for identical liabilities (Level 1)  
    Significant other observable inputs (Level 2)  
    Significant unobservable inputs (Level 3) 
  
    Assets: 

    Investments at September 30, 2024 
    $5,422,500  
    $-  
    $-  
    $5,422,500 

(O)
Impairment of Long-lived Assets

The
Company reviews long-lived assets to be held and used in operations for impairment whenever events or changes in circumstances indicate
that the carrying value of an asset may be impaired. These evaluations may result from significant decreases in the overall
market outlook for the Company’s technology or the market price of an asset, a significant adverse change in the extent or manner
in which an asset is being used in its physical condition, a significant adverse change in legal factors or in the business climate that
could affect the value of an asset, as well as economic or operational analyses. If the Company concludes that the carrying value of
certain assets will not be recovered based on expected undiscounted future cash flows, an impairment write-down is recorded to
reduce the assets to their estimated fair value. Fair value is determined via market, cost and income-based valuation