Company: FWFW
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002097
Chunk: 74

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1A
Chunk 74
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124 
  
    Current assets 
    $3,987  
    $4,633,791 
  
    Current liabilities - continuing operations 
    $824,253  
    $511,860 
  
    Current liabilities - discontinued operations 
     -  
     1,257,681 
  
    Current liabilities 
    $824,253  
    $1,769,541 
  
    Working capital 
    $(820,266) 
    $2,864,250 
  
    Working capital - continuing operations 
    $(820,266) 
    $(508,193)
  
    Working capital - discontinuing operations 
     -  
     3,372,443 
  
    Working capital 
    $(820,266) 
    $2,864,250 

As
of September 30, 2024, we had investments at cost, including 938 shares of Elison common stock with an estimated fair value of $5.42
million at 5 July 2024. Our operations have primarily been financed through the issuance of our common stock and cash advances from a related
company.

As
of September 30, 2024 and 2023, our total current assets were $3,987 and $4,633,791, including discontinuing operations of $4.62 million,
respectively.

As
of September 30, 2024, our current liabilities were $824,253 and stockholders’ equity was $4.60 million compared to current liabilities
of $1,769,541, including discontinuing operations of $1.26 million and stockholder ‘s equity of $2.85 million as of September 30,
2023.

The
Company expects that its cash and cash equivalents as of September 30, 2024 will be insufficient to allow the Company to fund its current
operating plan through at least the next twelve months from the issuance of these financial statements. These conditions may raise substantial
doubt about the Company’s ability to continue as a going concern for a period of at least one year from the date these financial
statements are issued. The Company is currently evaluating raising additional funds through private placements and or public equity financing.
However, there can be no assurance that, in the event that the Company requires additional financing, such financing will be available
on terms which are favorable to us, or at all. Accordingly, these factors raise substantial doubt about the Company’s ability to
continue