FLYWHEEL ADVANCED TECHNOLOGY, INC. (FWFW) Financial Statements (2025 and earlier)

Company Profile

Business Address 123 WEST NYE LANE, SUITE 455
CARSON CITY, NV 89706
State of Incorp. NV
Fiscal Year End September 30
Industry (SIC) 738 - Miscellaneous Business Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2024
Q3
3/31/2024
Q2
12/31/2023
Q1
9/30/2023
Q4
6/30/2023
Q3
3/31/2023
Q2
12/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 440316621713504 
Cash and cash equivalents 440316621713504 
Receivables 1,6091,7321,4318411,248 
Prepaid expense3913923933883881
Asset, held-for-sale, not part of disposal group      
Other undisclosed current assets 196140139189165 
Total current assets:2,6352,5802,5842,1312,3051
Noncurrent Assets
Operating lease, right-of-use asset 719334456 
Property, plant and equipment 1110767 
Intangible assets, net (including goodwill) 1,9651,9821,8401,8541,854 
Goodwill 1,8401,8401,8401,8541,854 
Intangible assets, net (excluding goodwill) 125142    
Disposal group, including discontinued operation, noncurrent assets      
Other undisclosed noncurrent assets   159   
Total noncurrent assets:1,9832,0112,0401,9041,917 
Other undisclosed assets      
TOTAL ASSETS:4,6184,5924,6244,0364,2221
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities5062512482421,31517
Accounts payable 1283078138129 
Accrued liabilities3782201701041,18717
Debt 111238105820108 
Disposal group, including discontinued operation      
Other liabilities     626 
Due to related parties214
Other undisclosed current liabilities85685290710852 
Total current liabilities:1,4731,3411,2591,1702,102231
Noncurrent Liabilities
Long-term debt and lease obligation 424453484506532 
Long-term debt, excluding current maturities 424453484506532 
Liabilities, other than long-term debt     9 
Operating lease, liability     9 
Other undisclosed noncurrent liabilities 212326   
Total noncurrent liabilities: 444477510506541 
Total liabilities:1,9181,8171,7701,6762,643231
Equity
Equity, attributable to parent2,7012,7742,8542,3601,579(230)
Common stock333332
Additional paid in capital6,6776,6776,6776,6775,6632,535
Accumulated other comprehensive income (loss)06(3)0(0) 
Accumulated deficit(3,980)(3,912)(3,823)(4,321)(4,086)(2,766)
Total equity:2,7012,7742,8542,3601,579(230)
TOTAL LIABILITIES AND EQUITY:4,6184,5924,6244,0364,2221

Income Statement (P&L) ($ in thousands)

6/30/2024
Q3
3/31/2024
Q2
12/31/2023
Q1
9/30/2023
Q4
6/30/2023
Q3
3/31/2023
Q2
12/31/2022
Q1
Revenues 1,34462683258036 
Cost of revenue (658)(414)(428)(445)(89) 
Gross profit: 686211404135(52) 
Operating expenses(872)(390)(134)(449)(1,291)(26)
Operating income (loss):(186)(178)270(314)(1,344)(26)
Nonoperating income 5199281530 
Interest and debt expense (5)(5)(5)(5)  
Income (loss) from continuing operations before equity method investments, income taxes:(140)(85)545(267)(1,344)(26)
Other undisclosed income from continuing operations before income taxes 5555  
Income (loss) from continuing operations before income taxes:(135)(80)550(261)(1,344)(26)
Income tax expense (benefit) 67(9)(53)2624 
Income (loss) from continuing operations:(68)(88)498(235)(1,319)(26)
Income from discontinued operations      
Other undisclosed net income  953   
Net income (loss):(68)(80)550(235)(1,319)(26)
Other undisclosed net loss attributable to parent  (9)(53)   
Net income (loss) available to common stockholders, diluted:(68)(88)498(235)(1,319)(26)

Comprehensive Income ($ in thousands)

6/30/2024
Q3
3/31/2024
Q2
12/31/2023
Q1
9/30/2023
Q4
6/30/2023
Q3
3/31/2023
Q2
12/31/2022
Q1
Net income (loss):(68)(80)550(235)(1,319)(26)
Comprehensive income (loss):(68)(80)550(235)(1,319)(26)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(6)(0)(56)1(0) 
Comprehensive income (loss), net of tax, attributable to parent:(74)(80)495(235)(1,320)(26)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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