---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-020185"
form_type: "8-K/A"
ticker: "FWFW"
cik: "0001492617"
company_name: "FLYWHEEL ADVANCED TECHNOLOGY, INC."
filed_at: "2023-06-06T23:59:59+00:00"
generated_at: "2026-06-14T06:31:44.552941+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Majority shareholder sells 4.76M shares for $12.98M; pro forma shows net loss of $954K for FY2022

## Summary
- Sparta sold 4,764,547 shares for $12,975,348 from May 3-18, 2023; ownership fell from 54.75% to 38.64%.
- Pro forma net loss for year ended Sep 30, 2022: $953,914; for three months ended Dec 31, 2022: $953,169.
- Acquisition of QBS System closed via 8,939,600 shares valued at $2,950,068; goodwill of $2,063,075 recorded.
- Additional 2,900,000 shares issued to settle advisory fees, valued at $0.33 per share.

## SEC filing metadata
- accession: 0001493152-23-020185
- form_type: 8-K/A
- ticker: FWFW
- cik: 0001492617
- company_name: FLYWHEEL ADVANCED TECHNOLOGY, INC.
- filed_at: 2023-06-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1492617/000149315223020185/0001493152-23-020185-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1492617/000149315223020185/form8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-020185
- JSON: https://secwatch.observer/filing/0001493152-23-020185.json
- Plain text: https://secwatch.observer/filing/0001493152-23-020185.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.