FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "common shares" refer to the common shares in our capital stock.

As used in this quarterly report on Form 10-Q, "we", "our", "us" and "Company" refer to Flywheel Advanced Technology, Inc., a Nevada corporation unless the context requires otherwise.





Plan of Operation

The Company has no operations or revenue as of the date of this Report. We are currently in the process of developing a business plan. Management intends to explore and identify viable business opportunities within the U.S. including seeking to acquire a business in a reverse merger. Our ability to effectively identify, develop and implement a viable plan for our business may be hindered by risks and uncertainties which are beyond our control, including without limitation, the continued negative effects of the coronavirus pandemic on the U.S. and global economies.

We do not expect to generate any revenues over the next 12 months unless we are able to enter into a business combination with an operating company. Our principal business objective for the next 12 months will be to seek, investigate and if such investigation warrants, engage in a business combination with a private entity whose business presents an opportunity for our shareholders. During the next 12 months, we anticipate incurring costs related to the filing of Exchange Act reports, and possible costs relating to consummating an acquisition or combination. We believe we will be able to meet these costs through the use of funds in our treasury and additional amounts, as necessary, to be loaned by or invested in us by our stockholders, management, or other investors.





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We intend to contract out certain technical and administrative functions on an as-needed basis in order to conduct our operating activities. Our management team will select and hire these contractors and manage and evaluate their work performance.





Results of Operations

The following summary of our operations should be read in conjunction with our unaudited financial statements for the three months ended December 31, 2022, and 2021.

Three Months Ended December 31, 2022, compared to Three Months Ended December 31, 2021.

During the three months ended December 31, 2022 and 2021, we did not have any revenue.

Our financial statements report a net loss, all from operating expenses, of $25,832 and $38,265 for the three months ended December 31, 2022 and 2021, respectively.

During the three months ended December 31, 2022, our operating expenses consisted primarily of professional fees of $24,750 and filing and public fees of $1,082. During the three months ended December 31, 2021, our operation expenses consisted primarily of professional fees of $37,531 and filing and public fees of $734.

Liquidity and Capital Resources





Working Capital

As of December 31, 2022, and September 30, 2022, our total current assets were $679 and $0, respectively.

As of December 31, 2022, our current liabilities were $230,641 and stockholders' deficit was $229,962 compared to current liabilities of $204,130 and shareholder 's deficit of $204,130 as of September 30, 2022.





Cash Flows



Operating Activities

We have not generated positive cash flows from operating activities. For the three months ended December 31, 2022, and 2021, net cash flows used in operating activities were $32,552 and $36,074, respectively.





Investing Activities

The Company did not use any funds for investing activities during the three months ended December 31, 2022, and 2021.





Financing Activities

During the three months ended December 31, 2022, and 2021, our related party paid $32,552 and $36,074, respectively, on behalf of the Company for operating expenses.





Going Concern

The accompanying consolidated unaudited interim financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these unaudited interim consolidated financial statements. As of December 31, 2022, the Company had no cash and an accumulated deficit of $2,766,290.




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Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company's ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company being funded by our related company, Flywheel Financial Strategy (Hong Kong) Company Limited, who has extended interest-free demand loans to the Company. There can be no assurances that our related company will continue to fund the Company, or that the Company can obtain any other sources of financing.





COVID-19 Update

To date, the COVID-19 pandemic has not had a material impact on the Company, particularly due to our current lack of operations. The pandemic may, however, have an impact on our ability to evaluate and acquire an operating entity through a reverse merger or otherwise.

Critical Accounting Policies and Estimates

The discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with the accounting principles generally accepted in the United States of America. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses. These estimates and assumptions are affected by management's application of accounting policies. We believe there are no material estimates or assumptions with levels of subjectivity and judgement necessary to be considered critical accounting policies.

Off-Balance Sheet Arrangements

As of the date of this Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

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