Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 144

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 144
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 Company works with and in which Mr. Ou holds over 50% of the equity interest.

On April 1, 2023, the Company agreed to retain the services of PJMG, a company in
which Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, holds over 50% of the equity interests as a
consultant following the completion of its IPO. PJMG was engaged to provide compliance consulting services related to accounting,
finance, and management, as well as to oversee market planning and development, follow-on fundraising, and investor relationship
management originally from June 2024 to May 2025, further extended to September 2025. The service fee is $45,000 for the first month
and from the second month the fees will be $15,000 per month.

Long-term prepayment for software development – a related party

  Name of Related Party  Relationship  Nature  June 30,  2025   March 31,  2025   DF Technology US Inc (“DFT”)  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Long-term prepayment for software development  $—   $136,580   Long-term prepayment for software development — a related party        $—   $136,580  

In December 2023, the Company engaged DFT for development of certain technology services.
Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, owns over 50% of the equity interest in DFT. As of
June 30, 2025 and March 31, 2025, the Company paid $nil and $136,580 to DFT as prepayment for software development, respectively. The
total contract price for the ERP system is $2,500,000, and the ERP system was delivered on May 20, 2025. (see Note 5 – Property
and Equipment).

29

(B) Related party transactions  

Revenues — a related party

           For the Three Months Ended 
June 30   Name of Related Party  Relationship  Nature  2025   2024   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity