# EDGAR Filing Document

**Accession Number:** 0001674440
**File Stem:** 0002091629-25-000009
**Filing Date:** 2025-10
**Character Count:** 13540
**Document Hash:** 0c77bb49cc03468599cc29aab85e1a23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002091629-25-000009.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0002091629-25-000009

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AIRWA INC.
- **CENTRAL INDEX KEY:** 0001674440
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 611789640
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-92572
- **FILM NUMBER:** 251429610

**BUSINESS ADDRESS:**
- **STREET 1:** 74 E. GLENWOOD AVE. #320
- **CITY:** SMYRNA
- **STATE:** DE
- **ZIP:** 19977
- **BUSINESS PHONE:** (443) 407-7564

**MAIL ADDRESS:**
- **STREET 1:** 74 E. GLENWOOD AVE. #320
- **CITY:** SMYRNA
- **STATE:** DE
- **ZIP:** 19977

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Connexa Sports Technologies Inc.
- **DATE OF NAME CHANGE:** 20220516

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Slinger Bag Inc.
- **DATE OF NAME CHANGE:** 20220412

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Connexa Sports Technologies Inc.
- **DATE OF NAME CHANGE:** 20220412
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Belfiore Michael Anthony
- **CENTRAL INDEX KEY:** 0002091629

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 8 OAKRIDGE LANE
- **CITY:** EDGECLIFF VILLAGE
- **STATE:** TX
- **ZIP:** 76134

## Ex-1

```

Attachment to Schedule 13D Amendment - Shareholder Comments and Requests
Submitted by: Michael Anthony Belfiore, Shareholder of AiRWA Inc.
Date: October 29, 2025

1. Request for Immediate Trading Halt and Insider Disclosure Compliance

I respectfully request that the Company initiate an immediate voluntary
trading halt, effective until the following compliance actions are completed:

- Insider Disclosure Update: All Company Directors, Officers, and any
  individuals or entities beneficially owning more than 5 percent of the
  Company's outstanding shares must file or update their respective Schedule
  13D or 13G disclosures with the SEC.

- All Company Directors, Officers, and any shareholders owning more than
  10 percent must also ensure their Form 3 and Form 4 filings are current
  and accurate.

These actions are necessary to restore transparency, ensure regulatory
compliance, and protect shareholder interests during a period of material
uncertainty.

2. Shareholder Communication and Transparency Request

As a shareholder holding 22.1 percent of AiRWA Inc., I made repeated
attempts to contact Company leadership, including Chairman Zhou and CEO
Thomas Tarala, via:

- Email: info@yuanyuenterprise.com

- Investor Relations Contact Form:
  https://yuanyuenterprise.com/investor-relations

- Telephone: (646) 453-0678

These efforts included verbal outreach in English and written communications
in both English and Chinese. No responses have been received. Other
shareholders active on X and Stocktwits have reported similar experiences.

I request that the Company establish a transparent, traceable communication
platform for shareholders, including:

- A publicly accessible communication history

- Timestamped responses from Company representatives

- Confirmation of receipt for shareholder inquiries

This is a necessary governance upgrade to ensure accountability and
regulatory alignment.

3. Shareholder Equity Dilution and Request for SEC Investigation

As of last week, I held 3,213,095 shares of AiRWA Inc., representing
22.1 percent of the 14,563,026 shares issued and outstanding. The
September 15, 2025 Form 10-Q reported Total Shareholder Equity of
$27,679,554. No subsequent filings (Form 3, Form 4, 8-K, 8-K/A, 10-Q/A,
or 10-K/A) have disputed these figures.

Based on this, my equity stake was valued at $6,107,044. Following the
Company's PIPE, ATM offering, and 1-for-50 reverse split, my equity is
now worth $93,710.05.

I request:

- A full SEC investigation into whether all required filings were
  completed appropriately

- Fines and sanctions against any parties found in violation

- Restitution for shareholders materially impacted by non-compliance

4. YYEM Valuation Discrepancy and Request for SEC Investigation

I request a formal SEC investigation into the valuation of YYEM, including:

- The prior sale of a 70 percent stake

- The current sale of a 30 percent stake

I further request that the sale of the remaining 30 percent stake be
halted until:

- YYEM's full value is clearly established

- A certified valuation report is posted for shareholder review

- The report is audited by an SEC-approved independent auditor

On October 22, 2025, a Form 8-K announced the sale of 30 percent of
YYEM for $36,000,000. The filing referenced a valuation report reviewed
by the Audit Committee, but:

- No certified copy was provided

- The third-party firm was not identified

- The report was not independently audited

According to the September 15, 2025 Form 10-Q:

- April 20, 2025 (audited): Total Liabilities and Shareholder Equity =
  $32,905,794

- July 31, 2025 (unaudited): Total Liabilities and Shareholder Equity =
  $34,738,166

At both points, AiRWA owned 70 percent of YYEM, implying 30 percent of
YYEM was worth:

- $14,102,483.14 (April audit)

- $14,887,785.43 (July unaudited)

These are far below the current $36,000,000 transaction value.

Additionally, per the November 2024 Nasdaq approval and Share Exchange
Agreement, AiRWA issued 8,127,572 shares for 5,000 ordinary shares of
YYEM (50 percent). As of October 29, 2025, those shares are worth:

- $2.25 per share times 8,127,572 divided by 50 = $365,740.74

- Implies 30 percent of YYEM is worth $219,444.44

These discrepancies raise serious concerns about filing accuracy, board
oversight, and shareholder harm. I request SEC investigation, enforcement,
and restitution.

5. Request for Independent Audited Form 10-Q/A

I request that AiRWA Inc. prepare and file an independently audited
Form 10-Q/A that includes:

- Funds raised through the PIPE and ATM offerings

- Any additional funding received

- Current financial status, including cash, liabilities, and shareholder
  equity

This report should be:

- Audited by an SEC-approved independent auditor

- Filed promptly with the SEC

- Made publicly available for shareholder review

The absence of certified disclosures following major capital events
undermines governance and investor confidence.

6. Request for Public Milestone Tracking Website

I respectfully request that AiRWA Inc. establish and maintain a
public-facing website that provides daily updates on the Company's
progress toward the following strategic initiatives:

- AiRWA $250 million funding status

- JuCoin $250 million funding status

- Joint Venture Exchange closure

- INCA Digital advanced security, compliance, and monitoring
  infrastructure implementation

- AiRWA Exchange platform development, launch, and onboarding status

The website should include:

- A milestone roadmap for each initiative

- Completion status of each milestone

- Daily progress updates

- Timestamped entries for full traceability and accountability

This level of transparency is essential to validate execution discipline,
reinforce governance integrity, and restore shareholder confidence.

The Reporting Person affirms that all statements herein are made in good faith,
based on publicly available information, personal holdings, and documented
shareholder communications. This submission is intended solely to support
regulatory compliance, transparency, and shareholder protection.

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**AIRWA INC.**

*(Name of Issuer)*

**Common Stock, par value $0.001 per share**

*(Title of Class of Securities)*

**831445408**

*(CUSIP Number)*

**Michael Anthony Belfiore**<br>8 Oakridge Lane<br>Edgecliff Village TX 76134<br>8174484451

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**10/07/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **831445408** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Belfiore Michael Anthony** | Name of reporting person<br>**Belfiore Michael Anthony** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**70395.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**70395.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**70395.00** | Aggregate amount beneficially owned by each reporting person<br>**70395.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.4%** | Percent of class represented by amount in Row (11)<br>**0.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** On 21 October, prior to execution of the PIPE, ATM and reverse split, I beneficially owned 3,213,095 shares of Common Stock, which represented 22.1% of the Total Outstanding Reported Shares.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.001 per share

**(b) Name of Issuer:**
AIRWA INC.

**(c) Address of Issuer's Principal Executive Offices:**
74 E. GLENWOOD AVE. #320, 74 E. GLENWOOD AVE. #320, SMYRNA, DE, 19977

**Item 4. Purpose of Transaction**

The Reporting Person reaffirms that the securities of the issuer were acquired for investment purposes.  The Reporting Person still believes in the strategic potential of the Joint Venture initiatives and views them as a key component of long-term shareholder value creation.

The Reporting Person remains committed to constructive engagement with management and the board of directors regarding corporate governance, transparency, and strategic direction.  The Reporting Person intends to act in a collaborative manner and may communicate with other shareholders, analysts, or stakeholders to better understand positioning and governance practices.

The Reporting Person now intends to formally advocate for governance upgrades, regulatory transparency, and shareholder restitution in accordance with Exhibit 1 attached. These actions may include direct engagement with regulatory bodies, public commentary, and coordination with other shareholders to ensure that AiRWA strategic direction and disclosures align with long-term shareholder value and SEC compliance standards.

**Item 5. Interest in Securities of the Issuer**

**(a)**
On 21 October 2025, the Reporting Person beneficially owned 3,213,095 shares of Common Stock, representing 22.1% of the outstanding class.  Today, after the PIPE, ATM, and reverse split, the Reporting Person beneficially owns 70,395 shares of Common Stock, representing approximately 0.37% of the ousstanding class.

**(b)**
For Michael Anthony Belfiore

Sole Power to vote or direct the vote - 70,395 votes

Shared power to vote or direct the vote - 0 votes

Sole Power to dispose or direct the disposition - 70,395 votes

Shared power to dispose or direct the disposition - 0 votes

**(c)**
10/07/2025 - purchased 3,129,905 shares at $0.3205 per share from the Open Market

10/08/2025 - Purchased 20,190 shares at $0.188 per share from the Open Market

10/27/2025 - Purchased 6,133 shares at $2.91 per share from the Open Market

10/27/2025 - 3,213,095 shares converted to 64,262 shares at an opening price of $3.03 per share on the Open Market

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The Reporting Person has no contracts, arrangements, understandings, or relationships with respect to the securities of the issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Belfiore Michael Anthony

**Signature:** Michael Anthony Belfiore

**Name/Title:** Michael Anthony Belfiore

**Date:** 10/29/2025