{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-026903","form_type":"8-K","ticker":"FWFW","cik":"0001492617","company_name":"FLYWHEEL ADVANCED TECHNOLOGY, INC.","filed_at":"2024-07-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:13.228751+00:00","generated_at":"2026-05-31T21:45:38.924614+00:00","sec_items":["1.01","2.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Flywheel Advanced Technology sells Mega Fortune subsidiary for 9.38% stake in Elison Virtus","bullets":["Sold all 100,000 shares of Mega Fortune Company Limited to Mericorn Company Limited for HKD56,360,000 (approx. $7,230,000).","Purchase price satisfied by transfer of 938 shares (9.38% equity) of Elison Virtus Company Limited, a wealth management firm.","Transaction completed July 5, 2024; related party involvement: CEO's spouse owns 25% of buyer.","Pro forma gain on sale estimated at $3.8 million; assets and liabilities of Mega Fortune eliminated from balance sheet.","Company retains minority stake in Elison; IoT business (QBS System) divested."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-026903","json":"https://secwatch.observer/filing/0001493152-24-026903.json","markdown":"https://secwatch.observer/filing/0001493152-24-026903.md","text":"https://secwatch.observer/filing/0001493152-24-026903.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1492617/000149315224026903/0001493152-24-026903-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1492617/000149315224026903/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T21:45:38.924614+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2d24f711e22c535c5b2dc393be479b96bb76219c","claim":"FLYWHEEL ADVANCED TECHNOLOGY, INC. completed a disposition involving Mericorn Company Limited for HKD56,360,000 (closed 2024-07-05).","evidence_excerpt":"(the “ Shares ”) of the Company, representing all of the issued and outstanding equity securities of the Company, to the Buyer. The aggregate purchase price of the Shares was HKD56,360,000 (the “ Purchase Price ”). The Buyer transferred to the Seller 9.38% of the total issued and outstanding equity of Elison (938 shares) in satisfaction of the Purchase Price.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1492617/000149315224026903/0001493152-24-026903-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Mericorn Company Limited"},{"label":"Consideration","value":"HKD56,360,000"},{"label":"Closing","value":"2024-07-05"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}