Company: FWFW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023125
Chunk: 39

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 integral to the fourth industrial
revolution, or “Industry 4.0.”

On
January 30, 2024 and on February, 13, 2024, the Company incorporated Mega Fortune Company Limited (“Mega Fortune”) in the
Cayman Islands and Ponte Fides Company Limited (“Ponte Fides”) in the British Virgin Islands, respectively. On April 29,
2024, the Company transferred all issued and outstanding shares of QBS System to Ponte Fides for HK$100 as part of a restructuring. Following
the completion of the share transfer, there were no changes to the officers and directors of the Company, and QBS System continued its
operations as an indirect wholly owned subsidiary of the Company.

14

On
July 30, 2024, Tang Siu Fung notified the Company of his resignation from all positions, including sole director, Chief Executive Officer,
and President, effective as of the close of business on July 30, 2024. In connection with his resignation as Chief Executive Officer
and President, Mr. Tang was also removed as the “Principal Executive Officer,” “Principal Financial Officer,”
and “Principal Accounting Officer” for Securities and Exchange Commission (“SEC”) reporting purposes.

On
the same day, July 30, 2024, the Company appointed Luk Yuen Leung as President, Chief Executive Officer, and Chairman of the Board of
Directors, effective as of the close of business on July 30, 2024. Mr. Leung was appointed to serve until his successor is duly appointed,
unless he resigns, is removed from office, or is otherwise disqualified from serving as an officer and/or director of the Company. In
connection with his appointment as Chief Executive Officer and President, Mr. Leung was designated as the Company’s “Principal
Executive Officer,” “Principal Financial Officer,” and “Principal Accounting Officer” for SEC reporting
purposes.

On
August 2, 2024, Cheng Sin Yi notified the Company of her resignation from all positions, including Secretary and Treasurer, effective
as of the close of business on August 2, 2024. Ms. Cheng’s resignation did not arise from any disagreement with the Company regarding
its operations, policies, or practices.

On
August 4, 2024, the Company appointed Luk Yuen Leung as Treasurer and Secretary, effective immediately, to serve until his successor
is duly appointed, unless he resigns, is removed from office,