Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 61

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1A
Chunk 61
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 or after we have acquired an operating entity, and may limit or hinder our ability to obtain the funding
we require. If the amount of capital we are able to raise from financing activities, together with any revenues we may generate from
future operations, is not sufficient to satisfy our capital needs, we may be required to discontinue our development or implementation
of a business plan, cancel our search for business opportunities, cease our operations, divest our assets at unattractive prices or obtain
financing on unattractive terms. If any of the foregoing should happen, our shareholders could lose some or all of their investment.

Because
we are still developing our business plan, we do not have any agreement for a business combination.

We
have no current arrangement, agreement or understanding with respect to engaging in a business combination with any specific entity.
We may not be successful in identifying and evaluating a suitable acquisition candidate or in consummating a business combination. We
are neutral as to what industry or segment for any target company. We have not established specific metrics and criteria we will look
for in a target company, and if and when we do we may face difficulty reaching a mutual agreement with any such entity, including in
light of market trends and forces beyond our control. Given our early-stage status, there is considerable uncertainty and therefore inherent
risk to investors that we will not succeed in developing and implementing a viable business plan.

The
COVID-19 pandemic could materially adversely affect our financial condition, future plans and results of operations.

This
COVID-19 pandemic has had a significant adverse effect on the economy in the United States and on most businesses. The Company is not
able to predict the ultimate impact that COVID -19 will have on its business; however, if the pandemic and government action in response
thereto impose limitations on our operations or result in a prolonged economic recession or depression, the Company’s development
and implementation of its business plan and our ability to commence and grow our operations, as well as our ability to generate material
revenue therefrom, will be hindered, which would have a material negative impact on the Company’s financial condition and results
of operations.

Because
we are dependent upon Luk Yuen Leung, our Chief Executive Officer who oversees our Company, the loss of him could adversely affect our
plan and results of operations.

Luk
Yuen Lueng, manages the Company and is presently evaluating a viable plan for our future operations. We will rely on his judgment in
connection with selecting a