---
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"
generated_at: "2026-05-31T21:45:38.924614+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Flywheel Advanced Technology sells Mega Fortune subsidiary for 9.38% stake in Elison Virtus

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-026903
- JSON: https://secwatch.observer/filing/0001493152-24-026903.json
- Plain text: https://secwatch.observer/filing/0001493152-24-026903.txt

## Key facts
- M&A Transactions
  FLYWHEEL ADVANCED TECHNOLOGY, INC. completed a disposition involving Mericorn Company Limited for HKD56,360,000 (closed 2024-07-05).
  - Action: disposition
  - Counterparty: Mericorn Company Limited
  - Consideration: HKD56,360,000
  - Closing: 2024-07-05
  source text: (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_url: https://www.sec.gov/Archives/edgar/data/1492617/000149315224026903/0001493152-24-026903-index.htm

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