In answering this item, please also provide any names used by predecessor entities in the past five years and the dates of the name changes.

Transcription

1 OTC Pink Basic Disclosure Guideline As of March 31, ) Name of the issuer and its predecessors (if any) In answering this item, please also provide any names used by predecessor entities in the past five years and the dates of the name changes. 1 st Prestige Wealth Management, Inc. July 2014 Power Technology, Inc. 2) Address of the issuer s principal executive offices Company Headquarters Address 1: 2831 St. Rose Parkway, # Address 2: Henderson, Nevada Address 3: Phone: ; JE@1stPrestige.com Website(s): 3) Security Information Trading Symbol: FPWM Exact title and class of securities outstanding: Common CUSIP: 33612Y106 Par or Stated Value: $ Total shares authorized: 500,000,000 as of: June 2014 Total shares outstanding: 377,801,983 as of: March 31, 2015 Transfer Agent Name: Pacific Stock Transfer Address 1: 4045 South Spenser Street Address 2: Suite 403 Address 3: Las Vegas, Nevada Phone: Is the Transfer Agent registered under the Exchange Act?* Yes: No: *To be included in the OTC Pink Current Information tier, the transfer agent must be registered under the Exchange Act. List any restrictions on the transfer of security: None Describe any trading suspension orders issued by the SEC in the past 12 months. None List any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months: Stock reverse 7/31/14 10,000:1 OTC Markets Group Inc. OTC Pink Basic Disclosure Guidelines (v1.1 April 25, 2013) Page 1 of 5

2 4) Issuance History List below any events, in chronological order, that resulted in changes in total shares outstanding by the issuer in the past two fiscal years and any interim period. The list shall include all offerings of equity securities, including debt convertible into equity securities, whether private or public, and all shares or any other securities or options to acquire such securities issued for services, describing (1) the securities, (2) the persons or entities to whom such securities were issued and (3) the services provided by such persons or entities. The list shall indicate: Stock was issued for services was 19,200,000 restricted shares. To various people for services. Stock sold on a private sale, 8,973,333 restricted shares to non U.S. citizens, residing outside the U.S. Stock was issued to management of 348,000,000 restricted shares. Stock was issued for services related to an acquisition. None of the shares are registered as public trading. 5) Financial Statements Provide the financial statements described below for the most recent fiscal year end or quarter end to maintain qualification for the OTC Pink Current Information tier. For the initial disclosure statement (qualifying for Current Information for the first time) please provide reports for the two previous fiscal years and any interim periods. Financial statements Attached A. Balance sheet; B. Statement of income; C. Statement of cash flows; D. Financial notes; and E. Audit letter, if audited The financial statements requested pursuant to this item shall be prepared in accordance with US GAAP by persons with sufficient financial skills. You may either (i) attach/append the financial statements to this disclosure statement or (ii) post such financial statements through the OTC Disclosure & News Service as a separate report using the appropriate report name for the applicable period end. ( Annual Report, Quarterly Report or Interim Report ). If you choose to publish the financial reports separately as described in part (ii) above, you must state in the accompanying disclosure statement that such financial statements are incorporated by reference. You may reference the document(s) containing the required financial statements by indicating the document name, period end date, and the date that it was posted to otciq.com in the field below. Information contained in a Financial Report is considered current until the due date for the subsequent Financial Report. To remain in the OTC Pink Current Information tier, a company must post its Annual Report within 90 days from its fiscal year-end date and Quarterly Reports within 45 days of its fiscal quarter-end date. 6) Describe the Issuer s Business, Products and Services Describe the issuer s business so a potential investor can clearly understand the company. In answering this item, please include the following: A. A description of the issuer s business operations; OTC Markets Group Inc. OTC Pink Basic Disclosure Guidelines (v1.1 April 25, 2013) Page 2 of 5

3 1 st Prestige Wealth Management, Inc. (OTC Pink: FPWM) is building a FinTech (Financial Technology) and branded financial services enterprise to connect middle and upper-middle income Chinese consumers and businesses to financial services and products. The Company uses technology, social media and other innovation to market and sell insurance, financial planning and wealth management products and services through and to B2B clients, B2C clients and additionally offers a Business Opportunity. The company is developing a dual customer base of B2B and B2C clients. The B2B client market includes the over 1.5 million insurance brokers and sales personnel that serve businesses and consumers. The B2C client market consists of the 300 million middle and upper middle-income consumers of financial services in China reached through insurance brokers and financial planners, directly online and through a Mobile App. Successful insurance brokerage offices and producers are being identified to be recruited to a business opportunity, becoming Brand Affiliates in the 1 st Prestige Wealth Management branded network. The company offers valuable services to its affiliates including: technology driven proprietary operating system, online and mobile app systems for operations and marketing and sales process. Additionally provided are superior branding, advanced marketing, improved customer lead generation and overall growth management best practices. Proprietary solutions, products and brand name alignments are in development as well as an offering of professional education, training and certification for insurance brokers and agents, wealth managers and financial planners. 1 st Prestige is being developed to serve China s 300 million person market of middle income and upper middle income consumers, businesses and over 1,500,000 insurance brokers and agents. The population of China is growing rapidly and projected to total over 600 million by 2025 and 1.5 billion by The global market for Wealth Management (WM) and related Financial Planning services is large with high growth. Estimated as currently worth $380 billion in terms of profit opportunities to service providers, $125 billion of which is accounted for by the United States. China produces $20 billion in service revenue annually in this category. China s most recent report on private wealth was US$20 trillion and by 2018 this figure is projected to be US$40 trillion, gaining on the U.S. market which is estimated to reach $53 trillion by Double Bottom Line. 1 st Prestige serves to deliver profit and value to its shareholders and to support the building of a better community for its social stakeholders, the people in the communities in which it operates. 1 st Prestige advocates and provides education and training for individuals, couples and micro, small and medium sized business owners in China to do well with their savings and investments, increasing their financial resources to do well to help their family and community advance. Scholarships and internships are also sponsored. B. Date and State (or Jurisdiction) of Incorporation: Nevada, June 3, 1996 C. the issuer s primary and secondary SIC Codes; 8742 D. the issuer s fiscal year end date; 12/31 E. principal products or services, and their markets; OTC Markets Group Inc. OTC Pink Basic Disclosure Guidelines (v1.1 April 25, 2013) Page 3 of 5

4 Business Advisory Services, China, Hong Kong (SAR), S.E. Asia, Overseas Chinese 7) Describe the Issuer s Facilities The goal of this section is to provide a potential investor with a clear understanding of all assets, properties or facilities owned, used or leased by the issuer. In responding to this item, please clearly describe the assets, properties or facilities of the issuer, give the location of the principal plants and other property of the issuer and describe the condition of the properties. If the issuer does not have complete ownership or control of the property (for example, if others also own the property or if there is a mortgage on the property), describe the limitations on the ownership. If the issuer leases any assets, properties or facilities, clearly describe them as above and the terms of their leases. Class A office facilities, Henderson, Nevada 8) Officers, Directors, and Control Persons James T. Edwards is the CEO, President, Secretary and a Director John Adams Westover is the Treasurer and a Director The goal of this section is to provide an investor with a clear understanding of the identity of all the persons or entities that are involved in managing, controlling or advising the operations, business development and disclosure of the issuer, as well as the identity of any significant shareholders. A. Names of Officers, Directors, and Control Persons. In responding to this item, please provide the names of each of the issuer s executive officers, directors, general partners and control persons (control persons are beneficial owners of more than five percent (5%) of any class of the issuer s equity securities), as of the date of this information statement. James T. Edwards, President, Secretary, Director, owner of 31.6% of common stock John Adams Westover, Treasurer, Director, owner of 6% of common stock B. Legal/Disciplinary History. Please identify whether any of the foregoing persons have, in the last five years, been the subject of: 1. A conviction in a criminal proceeding or named as a defendant in a pending criminal proceeding (excluding traffic violations and other minor offenses); None 2. The entry of an order, judgment, or decree, not subsequently reversed, suspended or vacated, by a court of competent jurisdiction that permanently or temporarily enjoined, barred, suspended or otherwise limited such person s involvement in any type of business, securities, commodities, or banking activities; None 3. A finding or judgment by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission, the Commodity Futures Trading Commission, or a state securities regulator of a violation of federal or state securities or commodities law, which finding or judgment has not been reversed, suspended, or vacated; or None OTC Markets Group Inc. OTC Pink Basic Disclosure Guidelines (v1.1 April 25, 2013) Page 4 of 5

5 4. The entry of an order by a self-regulatory organization that permanently or temporarily barred suspended or otherwise limited such person s involvement in any type of business or securities activities. None C. Beneficial Shareholders. Provide a list of the name, address and shareholdings or the percentage of shares owned by all persons beneficially owning more than ten percent (10%) of any class of the issuer s equity securities. If any of the beneficial shareholders are corporate shareholders, provide the name and address of the person(s) owning or controlling such corporate shareholders and the resident agents of the corporate shareholders. James T. Edwards, ownership of 31.6% of shares St. Rose Parkway # Henderson, Nevada ) Third Party Providers Please provide the name, address, telephone number, and address of each of the following outside providers that advise your company on matters relating to disclosures: Other Advisor: Any other advisor(s) that assisted, advised, prepared or provided information with respect to this disclosure statement. Name: None Firm: Address 1: Address 2: Phone: 10) Issuer Certification The issuer shall include certifications by the chief executive officer and chief financial officer of the issuer (or any other persons with different titles, but having the same responsibilities). The certifications shall follow the format below: I, James T. Edwards certify that: May 14, I have reviewed this //Quarterly Statement Ending March 31, 2015 of 1 st Prestige Wealth Management, Inc.; 2. Based on my knowledge, this disclosure statement does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this disclosure statement; and 3. Based on my knowledge, the financial statements, and other financial information included or incorporated by reference in this disclosure statement, fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this disclosure statement. /s/ James T. Edwards [CEO s Signature] None [CFO s Signature] (Digital Signatures should appear as /s/ [OFFICER NAME] ) CEO [Title] OTC Markets Group Inc. OTC Pink Basic Disclosure Guidelines (v1.1 April 25, 2013) Page 5 of 5

6 1 st PRESTIGE WEALTH MANAGEMENT FORMERLY (POWER TECHNOLOGY, INC) FINANCIAL STATEMENTS FOR THE QUARTERS ENDING MARCH 31, 2015 AND 2014

7 !st PRESTIGE WEALTH MANAGEMENT BALANCE SHEET AS OF MARCH 31, 2015 AND MARCH 31, 2014 ASSETS UNAUDITED UNAUDITED Current Assets: Cash And Cash Equivalents $ 240,338 $ 592 Intangible Asset 2,250,000 2,250,000 Receivables 134,400 Technology Development Costs 660, ,000 Prepaid Expense 0 Total Current Assets 3,284,738 2,810,592 Total Assets $ 3,284,738 $ 2,810,592 LIABILITIES AND SHAREHOLDER'S EQUITY Current Liabilities: Accounts Payable $ 29,480 $ 29,171 Notes Payable 190, ,000 - Total Current Liabilities 219, ,171 Long-term Liabilities: 1,000,000 1,000,000 - Total liabilities 1,219,480 1,219,171 Commitments - Stockholders' Equity: Prefered stock, $ par; 1,000,000 authorized: shares and Series B- 1,000,000 authorized none issued and outstanding Common stock: 500,000,000 shares authorized, $ par value 377,801,983 shares issued and outstanding 3,778 46,187 Additional paid-in-capital 20,272,977 19,086,568 Accumulated deficits (18,211,497) (17,541,334) Total Stockholders' Equity 2,065,258 1,591,421 Total Liabilities And Stockholders' Equity $ 3,284,738 $ 2,810,592

8 1ST PRESTIGE WEALTH MANAGEMENT STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDING MARCH 31, 2015 AND MARCH 31, 2014 UNAUDITED UNAUDITED Net revenue $ - Cost of revenue Gross profit - Operating expenses Amortization and depreciation expenses Organizational Costs and exchange costs General & administrative expenses 123,458 4,291 Total operating expenses 123,458 4,291 Income (Loss) from operations (123,458) (4,291) Other income (expense): Other income Other Expense Interest expense Total other income (expense) - Loss before income tax (123,458) (4,291) Provision for income tax - Net Profit (loss) $ (123,458) $ (4,291)

9 1st PRESTIGE WEALTH MANAGEMENT STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS TO DATE ENDED MARCH 31, 2015 AND 2014 UNAUDITED UNAUDITED Cash Flows From Operating Activities Net Income (loss) $ (123,458) (4,291) Depreciation and amortization Common stock for Servics (Increase) / decrease in assets: Accounts Receivable (100,000) Inventory/Clinical Trials Other Assets Prepaid Expenses Increase / (decrease) in liabilities: Other Payable - Accrued Expenses Notes Payable Accrued Interest - Accounts Payable 4,000 Net cash used in operating activities (223,458) (291) Net cash Increase for period Cash Flows From Financing Activites Payments on long-term notes payable Loans from Stockholder Capital 144,000 Net Cash Provided by Financing Activities 144,000 Net Increase (Decrease) During the Period (79,458) (291) Cash and cash equivalents, Beginning of the period 319, Cash and cash equivalent, End of the period $ 240,

10 !st PRESTIGE WEALTH MANAGEMENT CONSOLIDATED STATEMENTS OF EQUITY FOR YEARS AND QUARTERS ENDED MARCH 31, 2015 Additional Prior Total Common Stock Paid-In Accumulated Period Stockholders' Shares Amount Capital Deficit Adjustments (Deficit) Balance June 30, ,480,600,074 24,806 18,871,758 (17,400,777) 1,495,787 Shares issued for Cash 1,238,100,100 12, , ,810 Shares issue foadjustment for prio 900,000,000 9, , ,381 Net Loss (68,960) (68,960) Balance December31, ,618,700,174 46,187 19,086,568 (17,469,737) 1,663,018 - Net Loss (65,567) (65,567) Balance December 31, ,618,700,174 46,187 19,086,568 (17,535,304) 1,597,451 Net Loss (6,030) (6,030) Balance December 31, ,618,700,174 46,187 19,086,568 (17,541,334) 1,591,421 Net Loss (2,850) (2,850) Balance June 30, ,618,700,174 46,187 19,086,568 (17,544,184) 1,588,571 Stock Reverse 10,000:1 462, ,132,750 (17,544,184) 1,588,571 Net Loss for the Quarter (392,620) (392,620) Balance as of Sept 30, , ,132,750 (17,936,804) 1,195,951

11 Stock issued for Services 6,200, (62) - Stock issued for Services 13,000, (130) - Management Stock 348,000, (3,480) - Stock issued for Emlink & services 1,166, (12) - Stock issued for Cash 5,000, , ,000 Stock issued for Cash 3,333, , ,000 Net loss as of December 31, 2014 (151,235) (151,235) Balance December 31, ,161,983 3,772 20,128,983 (18,088,039) 2,044,716 Stock issued for Cash 640, , ,000 Net loss as of March 31, 2015 (123,458) (123,458) Balance March 31, ,801,983 3,778 20,272,977 (18,211,497) 2,065,258

12 !st PRESTIGE WEALTH MANAGEMENT FORMERLY (POWER TECHNOLOGY, INC.) NOTES TO FINIANCIAL STATEMENT MARCH 31, 2015 NOTE 2 - SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America ("GAAP" accounting) are the financial statements are presented in US dollars. The Company has adopted a December 31 fiscal year end. Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of assets requires management to make estimates and assumptions that affect the reported amounts and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and the expenses during the reporting period. Actual results could differ from those estimates. Financial Instruments The carrying value of the Company's financial instruments approximates their fair value because of the short maturity of these instruments. Income Taxes Income taxes are accounted for under the assets and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Use of net operating loss carry forwards for income tax purposes may be limited by Internal Revenue Code section 382 if a change of ownership occurs. Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company's net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company's net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity.

13 Dividends The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown. Impairment of Long-Lived Assets The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of longlived assets by determining whether the carrying value of such assets will be recovered. Impairment of Long-Lived Assets (Continued) through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. Advertising Costs The Company's policy regarding advertising is to expense advertising when incurred. Revenue Recognition. The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with SFAS No. 123 and 123 (R) (ASC 718) To date, the Company has not adopted a stock option plan and has not granted any stock options. New Authoritative Accounting Guidance On July 1,2009, the Accounting Standards Codification ("ASC") became the Financial Accounting Standards Board ("FASB") officially recognized source of authoritative U.S. generally accepted accounting principles applicable to all public and non-public nongovernmental entities, superseding existing FASB, AICPA, EITF and related literature. Rules and interpretive releases of the SEC under the authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. All other accounting literature is considered nonauthoritative. The switch to the ASC affects the away companies refer to U.S. GAAP in financial statements and accounting policies. Citing particular content in the ASC involves specifying the unique numeric path to the content through the Topic, Subtopic, Section and Paragraph structure. FASB ASC Topic 260, "Earnings Per Share." On January 1,2009, the Company adopted new authoritative accounting guidance under FASB ASC Topic 260, "Earnings Per Share," which provides that unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and shall be included in the computation of earnings per share pursuant to the two-class method. FASB ASC Topic 820, "Fair Value Measurements and Disclosures." New authoritative accounting guidance under ASC Topic 820,"Fair Value Measurements and Disclosures," affirms that the objective of fair value when the market for an asset is not active is the

14 price that would be received to sell the asset in an orderly transaction, and clarifies and includes additional factors for determining whether there has been a significant decrease in market activity for an asset when the market for that asset is not active. ASC Topic 820 requires an entity to base its conclusion about whether a transaction was not orderly on the weight of the evidence. The new accounting guidance amended prior guidance to expand certain disclosure requirements. The Company adopted the new authoritative accounting guidance under ASC Topic 820 during the first quarter of Adoption of the new guidance did not significantly impact the Company's consolidated financial statements. Further new authoritative accounting guidance (Accounting Standards Update No ) under ASC Topic 820 provides guidance for measuring the fair value of a liability in circumstances in which a quoted price in an active market for the identical liability is not available. In such instances, a reporting entity is required to measure fair value utilizing a valuation technique that uses (i) the quoted price of the identical liability when traded as an asset, (ii) quoted prices for similar liabilities or similar liabilities when traded as assets, or (iii) another valuation technique that is consistent with the existing principles of ASC Topic 820, such as an income approach or market approach. The new authoritative accounting guidance also clarifies that when estimating the fair value of a liability, a reporting entity is not required to include a separate input or adjustment to other inputs relating to the existence of a restriction that prevents the transfer of the liability. The forgoing new authoritative accounting guidance under ASC Topic 820 will be effective for the Company's consolidated financial statements beginning October 1,2009 and is not expected to have a significant impact on the Company's consolidated financial statements FASB ASC Topic 825 "Financial Instruments." New authoritative accounting guidance under ASC Topic 825,"Financial Instruments," requires an entity to provide disclosures about the fair value of financial instruments in interim financial information and amends prior guidance to require those disclosures in summarized financial information at interim reporting periods. New Authoritative Accounting Guidance (continued} FASB ASC Topic 855, "Subsequent Events." New authoritative accounting guidance under ASC Topic 855, "Subsequent Events," establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or available to be issued. ASC Topic 855 defines (i) the period after the balance sheet date during which a reporting entity's management should evaluate events or transactions that may occur for potential recognition or disclosure in the financial statements, (ii) the circumstances under which an entity should recognize events or transactions occurring after the balance sheet date in its financial statements, and (iii) the disclosures an entity should make about events or transactions that occurred after the balance sheet date. The new authoritative accounting guidance under ASC Topic 855 became effective for the Company's financial statements for periods ending after June 15,2009. Effective February 24, 2010, the FASB issued Accounting Standards Update ("ASU") No , "Subsequent Events (Topic 855): Amendments to Certain Recognition and Disclosure Requirements" which revised certain disclosure requirements. ASU No did not have a significant impact on the Company's consolidated financial statements. The company evaluated subsequent events, which are events or transactions that occurred after March 31, 2015 through the issuance of the

15 accompanying consolidated financial statements. Management does not believe that any other recently issued but not yet effective accounting pronouncements, if adopted, would have an effect on the accompanying consolidated financial statements NOTE 4- EQUITY In the quarter ended March 31, 2015 one investor purchased 640,000 shares of restricted stock of the company for $144,000 cash. NOTE 5 - RELATED PARTY TRANSACTIONS None