Company: FWFW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001641172-25-009382
Chunk: 7

Company: FLYWHEEL ADVANCED TECHNOLOGY, INC.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 8
Chunk 7
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presented.

    13

FLYWHEEL ADVANCED TECHNOLOGY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Summarized results of discontinued operations for the three reportable
segments are as follows:

 SCHEDULE
OF DISCONTINUED OPERATIONS

    For the three months ended  
    For the six months ended 

    March 31, 2024  
    March 31, 2024 
  
    Revenue, net 
    $1,344,142  
    $1,970,257 
  
    Cost of revenue 
     (657,732) 
     (1,072,212)
  
    Operating expenses 
     (826,633) 
     (1,047,244)
  
    Other income 
     55,741  
     159,454 
  
    Interest (expenses) income, net 
     (4,945) 
     (10,131)
  
    (Loss)/Income from discontinued operations before 
     (89,427) 
     124 
  
    Income taxes 
     66,932  
     58,360 
  
    (Loss)/Income from discontinued operations, net of tax 
    $(22,495) 
    $58,484 

Summarized cash flow information for the three reportable
segments discontinued operations are as follows:

 SCHEDULE
OF CASH FLOW INFORMATION

    For the six months ended 

     March 31, 2024 
  
    CASH FLOWS FROM OPERATING ACTIVITIES  

    Amortization 
    $34,435 
  
    Depreciation 
     2,818 
  
    Lease amortization 
     24,556 
  
    Allowance of expected credit losses 
     463,002 
  
    Reversal of allowance of expected credit losses 
     (125,568)
  
    Deferred income taxes 
     (60,589)
  
    Increase in accounts receivable 
     (513,813)
  
    Increase in prepaid expenses and other current assets 
     (281)
  
    Cash used in assets held for sale 
     (514,094)
  
    Increase in accounts payable 
     50,156 
  
    Decrease in operating lease liabilities 
     (26,811)
  
    Increase in accrued expenses and other current liabilities