Company: FWFW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001641172-25-009382
Chunk: 1

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 8
Chunk 1
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 was informed by the FINRA that the new ticker symbol of the Company is “FWFW”.

    ● 
    Issuance of Preferred Stock A-1 (September 15, 2022) – On September 15, 2022, the Company filed with the Secretary of State of the State of Nevada an Amendment (the “Amendment ” ) to the Certificate of Designation for the Series A-1 Preferred Stock (the “Preferred Stock”). The Amendment was approved by the Board of Directors of the Company and Sparta Universal Industrial Ltd. (“Sparta”), the sole holder of all the 10,000,000 issued and outstanding shares of Preferred Stock. Pursuant to the Amendment, the conversion rate of the Preferred Stock was changed to provide that each share of Preferred Stock shall be convertible, at the option of the holder, into 1.62 fully paid and nonassessable shares of the Company’s common stock. The Amendment was necessary as the terms of the Certificate of Designation for the Preferred Stock expressly provided that the conversion ratio of 162 shares of common stock for each share of Preferred Stock would not be reduced in the event of a stock split or other capitalization of the Company.

    ● 
    The Company’s outstanding 10,000,000 shares of Preferred Stock were converted on a one for 1.62 basis into 16,200,000 common shares. Concurrently these Preferred Stock were cancelled.

    ● 
    Formation
    of Blue Print Global, Inc. (November 30, 2022) – On November 30, 2022, the Company incorporated Blue Print Global, Inc. (
     “Blue Print ” ) in the British Virgin Islands to establish an operation to source the supply and sale of warehouse
    patrol robots. The
    Company currently holds 85% of Blue Print, and the balance is held by an individual unrelated to the Company.

    9

FLYWHEEL ADVANCED TECHNOLOGY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

    ● 
    Blue
    Print Agency Agreement (December 7, 2022) – On December 7, 2022, Blue Print entered into an Agency Agreement (the “Agency
    Agreement”) with International Supply Chain Alliance Co., Ltd. of Hong Kong (  “ISCA”). Pursuant to the Agency
    Agreement, Blue Print appointed ISCA as its authorized agent to distribute warehouse patrol robots in the People’ s Republic