secwatch.observer — SEC 8-K summary
======================================

Issuer:     FLYWHEEL ADVANCED TECHNOLOGY, INC. (FWFW)
CIK:        0001492617
Form:       8-K/A
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0001493152-23-020185
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492617/000149315223020185/0001493152-23-020185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492617/000149315223020185/form8ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-020185

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer