Company: FWFW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001641172-25-009382
Chunk: 29

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 2
Chunk 29
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Comparison
of the Six Months Ended March 31, 2025 and 2024

Our
use of cash was primarily related to discontinued operations including cash used in operating activities and bank borrowings. As of March
31, 2025, we had $0 in cash and cash equivalents as compared to $439,518 for the same period ended March 31, 2024.

Cash
flows from operating activities generally reflect net loss adjusted for certain non-cash items including depreciation and amortization,
changes in deferred taxes, and changes in allowance of expected credit losses. For the six months ended March 31, 2025, cash used in
operating activities amounted to $110,674, compared to $98,912 for the same period in 2024. This increase of $11,762 in cash used during
the six months ended March 31, 2025 was primarily due to discontinued operations.

Cash
flows from investing activities reflect capital expenditure for the purchase of Company’s assets. Cash used in investing activities
during the six month ended March 31, 2025 was $0 compared to cash used in investing activities of $7,299 due to purchase of property,
plant and equipment during the six months ended March 31, 2024.

Cash
flows from financing activities generally reflect changes in debt activity during the period. Net cash provided by financing activities
was $110,674 for the six months ended March 31, 2025 compared to net cash used in financing activities of $75,893 for the six months
ended March 31, 2024. Net cash provided by financing activities for the six months ended March 31, 2025 was primarily attributable to
advance from related party of $110,674. Net cash used in financing activities for the six months ended March 31, 2024 was attributable
to repayment of borrowings of $54,192 and repayment to related party of $21,701.

Management
believes the net cash provided by financing activities will be sufficient to fund operations for the next 12 months and beyond.

21

Going
Concern

The
Company incurred a net operating loss of approximately $0.05 million, had negative cash flows from operating activities of $0.11 million
during the six months ended March 31, 2025, and had minimum cash balance as of its fiscal year end. The Company is currently in the process
of entering into certain arrangements to raise additional capital, which it believes to