secwatch.observer — SEC 8-K summary
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Issuer:     FLYWHEEL ADVANCED TECHNOLOGY, INC. (FWFW)
CIK:        0001492617
Form:       8-K/A
Filed at:   2023-06-02T23:59:59+00:00
Accession:  0001493152-23-019996
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492617/000149315223019996/0001493152-23-019996-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492617/000149315223019996/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-019996

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