Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 3

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 3
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 payment or receipt versus payment, as the case may be, upon receipt
of investor funds received by us. Accordingly, neither we nor the Placement Agent (as defined below) have made any arrangements to place
investor funds in an escrow account or trust account since the Placement Agent will not receive investor funds in connection with the
sale of the securities offered hereunder.

We have received a written
notification from Nasdaq on October 2, 2024, notifying us that we are not in compliance with the minimum bid price requirement set forth
in Nasdaq Rules for continued listing on the Nasdaq. To regain compliance, our Common Stock must have a closing bid price of at least
US$1.00 for a minimum of 10 consecutive business days by March 31, 2025. On April 2, 2025, Nasdaq notified us that, although the Company
has not regained compliance with the minimum bid price requirement, the Company is eligible to receive an additional 180 calendar day
period or until September 29, 2025, to regain compliance with the minimum bid price requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(A).
We will monitor the closing bid price of our Common Stock and may, if appropriate, consider implementing available options, including,
but not limited to, implementing a reverse share split of our Common Stock, to regain compliance with the minimum bid price requirement
under the Nasdaq Listing Rules. See “Risk Factors – Risks Related to this Offering and Our Securities – There can be no assurance that we will be able to comply with the continued listing standards of Nasdaq.”

We are an “emerging growth
company” and a “smaller reporting company” as defined in the federal securities laws and are subject to reduced public
company reporting requirements. See “Prospectus Summary — Implications of Being an Emerging Growth Company”
and “Prospectus Summary — Implications of Being a Smaller Reporting Company.”

Because our directors and executive
officers control a majority of the voting power of our Common Stock, we are deemed a “controlled company” under the listing
rules of Nasdaq, and we qualify for exemptions from certain corporate governance requirements afforded to controlled companies. Although
we currently do not intend to rely on the “controlled company” exemption, we could elect to rely on this exemption in the
future. If we so elect, you will not have the same protection afforded to stockholders of companies that are subject to these corporate
govern