Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 65

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1A
Chunk 65
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own 68.92% of our outstanding Common Stock.
Accordingly, our shareholders will be relying almost exclusively on the judgement of our board of directors (“Board”) and
Chief Executive Officer and any persons on whom they may rely with respect to a potential business combination. In order to develop and
implement our business plan, may in the future hire lawyers, accountants, technical experts, appraisers, or other consultants to assist
with determining the Company’s direction and consummating any transactions contemplated thereby. We may rely on such persons in
making difficult decisions in connection with the Company’s future business and prospects. The selection of any such persons will
be made by our Board, and any expenses incurred or decisions made based on any of the foregoing could prove to be adverse to the Company
in hindsight, the result of which could be diminished value to our shareholders.

Because
our search for a business combination is not presently limited to a particular industry, sector or any specific target businesses, prospective
investors will be unable to evaluate the merits or risks of any particular target business’s operations until such time as they
are identified and disclosed.

We
are still determining the Company’s business plan, and we may seek to complete a business combination with an operating entity
in any number of industries or sectors. Because we have not yet entered into any letter of intent or agreement to acquire a particular
business, prospective investors currently have no basis to evaluate the possible merits or risks of any particular target business’s
operations, results of operations, cash flows, liquidity, financial condition, prospects or other metrics or qualities they deem appropriate
in considering to invest in the Company. Further, if we complete a business combination, we may be affected by numerous risks inherent
in the operations of the business we acquire. For example, if we acquire a financially unstable business or an entity lacking an established
operating history, we may be affected by the risks inherent in the business and operations of a new business or a development stage entity.
Although our management intends to evaluate and weigh the merits and risks inherent in a particular target business and make a decision
based on the Company and its shareholders’ interests, there can be no assurance that we will properly ascertain or assess all the
significant risks inherent in a target business, that we will have adequate time to complete due diligence or that we will ultimately
acquire a viable business and generate material revenue therefrom. Furthermore, some of these risks may be outside of our control and
leave us with no ability to reduce