UNITED STATES
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FORM
CURRENT REPORT
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Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Tang
On July 30, 2024, Tang Siu Fung notified Flywheel Advanced Technology, Inc. (the “Company”) of his resignation from all his positions with the Company, including sole director, Chief Executive Officer and President, effective as of the close of business on July 30, 2024. In connection with his resignation as Chief Executive Officer and President, Mr. Tang was removed as “Principal Executive Officer”, “Principal Financial Officer” and “Principal Accounting Officer” of the Company for Securities and Exchange Commission (“SEC”) reporting purposes. Mr. Tang’s resignation does not arise from any disagreement with the Company on any matter relating to its operations, policies, or practices.
Resignation of Ms. Cheng Sin Yi
On August 2, 2024, Ms. Cheng Sin Yi notified the Company of her resignation from all her positions with the Company, including Secretary and Treasurer, effective as of the close of business on August 2, 2024. Ms. Cheng’s resignation does not arise from any disagreement with the Company on any matter relating to its operations, policies, or practices.
Appointment of Mr. Luk Yuen Leung as Director, CEO and President
On July 30, 2024, the board of directors appointed Mr. Luk Yuen Leung as a director, Chief Executive Officer and President, effective as of the close of business on July 30, 2024. Mr. Leung was also appointed to serve until his successor has been duly appointed, unless he resigns, is removed from office, or is otherwise disqualified from serving as an officer and or director of the Company. In connection with his appointment as Chief Executive Officer and President, Mr. Leung was designated as the Company’s “Principal Executive Officer”, “Principal Financial Officer” and “Principal Accounting Officer” for SEC reporting purposes.
Luk Yuen Leung has exclusive experience in management and business development in the Garment and Textile Industry. From 1996 to present, Mr. Luk served as director of Polytex Alliance Ltd., a Hong Kong company, where he is responsible for business development strategy and the department’s management.
There are no arrangements or understandings between Mr. Luk and any other person pursuant to which he was appointed as the Chief Executive Officer and President. In addition, there are no family relationships between Mr. Luk and any of the Company’s other officers or directors. Further, there are no transactions since the beginning of the Company’s last fiscal year, or any currently proposed transaction, in which the Company is a participant, the amount involved exceeds $120,000, and in which Mr. Luk had, or will have, a direct or indirect material interest.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| FLYWHEEL ADVANCED TECHNOLOGY, INC. | ||
| Dated: August 2, 2024 | By: | /s/ Luk Yuen Leung |
| Name: | Luk Yuen Leung | |
| Title: | Chief Executive Officer and President | |