Flywheel majority shareholder Sparta sells 4.76M shares for $12.98M, stake drops to 40.64%

FLYWHEEL ADVANCED TECHNOLOGY, INC.

Sparta entered subscription agreements with 29 investors to sell 4,764,547 shares at $12,975,348.18 total.
Post-sale, Sparta holds 11,435,453 shares, or 40.64% of outstanding common stock.
Amendment restates beneficial ownership: Tang Siu Fung controls 40.64% via Sparta; QBS Flywheel holds 31.77%.
Company contractually obligated to issue 1,450,000 shares each to Sau Ping Leung and So Ha Tsang.
Conversion of A-1 Preferred Shares to 16,200,000 common shares on Sept 15, 2022, approved.

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