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Flywheel Advanced Technology, Inc. (FWFW): material weakness open at least 2,220 days

By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.

Flywheel Advanced Technology, Inc. reported ineffective internal control over financial reporting because of a material weakness in 9 filings since Apr 22, 2021. It stated one or more material weaknesses in 17 more SEC filings that gave no conclusion on whether that control is effective. The latest was its 10-Q for the period ended Jun 30, 2026.

Checked against SEC EDGAR: Oct 29, 2026 · Entry #10834

Causes the company named

Segregation of duties · 26Entity-level and governance · 26Accounting expertise and resources · 9Financial close and reporting · 7

Lack of audit committee, insufficient outside directors, inadequate segregation of duties, and single-person dominance.

What the latest filing says

Based on the foregoing, he concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this Quarterly Report. The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee, (2) lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (3) inadequate segregation of duties consistent with control objectives; and (4) management dominated by a single individual without adequate compensating controls. The aforementioned material weaknesses were identified by our Chief Executive and Financial Officer in connection with the review of our financial statements as of June 30, 2026. Management believes that the material weaknesses set forth above did not have an effect on our financial results. However, management believes that the lack of a functioning au [...]

From the controls section of the 10-Q filed Aug 14, 2026. Read the full filing on SEC EDGAR.

Company response: Flywheel Advanced Technology, Inc. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.

Filings

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Based on public SEC filings. Causes are grouped into standard categories by Ctrl Worx. The filings are the authority. Ctrl Worx is not affiliated with Flywheel Advanced Technology, Inc. or the SEC. Not investment advice. Why you can rely on the Watch List.