Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 186

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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.2 million, and loan proceeds of $7.1 million,
partially offset by repayments of loans of $3.6 million and payment of IPO costs of $0.3 million.

Net
cash provided by financing activities was $30,550 for the nine months ended December 31, 2023, which consisted of repayment of the
related party’s loan of $0.2 million, repayments of loan payables of $0.4 million, repayments of other payables of related
party of $0.2 million, payments of deferred IPO cost of $0.1 million, and payments of related-party receivable of $0.1 million,
partially offset by  borrowing from loan payables of $0.8
million and capital contribution from shareholders of $0.1 million.

Commitments and Contractual Obligations

The following table presents our material contractual
obligations as of December 31, 2024:

    Contractual Obligations 
    Total  
    Less than  1 year  
    1 – 2 years  
    3 – 5 years  
    Thereafter 
  
    Operating Lease Obligations and others 
    $15,304,367  
     3,151,170  
     6,394,599  
     4,082,061  
     1,676,537 
  
    Loan Payable 
     7,099,795  
     5,009,061  
     183,471  
     19,893  
     1,887,370 
  
    Total Contractual Obligations 
    $22,404,162  
     8,160,231  
     6,578,070  
     4,101,954  
     3,563,907 

Off-Balance Sheet Arrangements

We have not entered into any transactions, agreements
or other contractual arrangements that would result in off-balance sheet liabilities.

Quantitative and Qualitative Disclosures about
Market Risk

Foreign Exchange Risk

A substantial majority of all of our revenues
and expenses are denominated in U.S. dollars. We do not believe that we currently have any significant direct foreign exchange risk
and have not used any derivative financial instruments to hedge exposure to such risk. In addition, as our business and operation expand
in European and other overseas markets