Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 130

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 loan of $34,974 from AutoNation Honda Miami Lakes with an annual
interest rate of 3.98%. The collateral provided was the Honda vehicle purchased by Flyebikemiami Inc. As of June 30, 2025, the outstanding
balance is $18,182. From July 1 to August 19, 2025, the Company paid $790 on principal and interest of the loan.

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  (iv) On August 22, 2024, Fly E-Bike, Inc. obtained a three-year
long-term loan of $128,132 from Milea Truck Sales of Queens Inc. with an annual interest rate of 9.90%. The collateral provided was the
FTR 2025 vehicle purchased by Fly E-Bike, Inc. As of June 30, 2025, the outstanding balance is $96,253. From July 1 to August 19, 2025,
the Company paid $8,251 on principal and interest of the loan. On July 26, 2024, Fly E-Bike, Inc. obtained a three-year long-term loan of $96,506 from Milea Truck Sales of Queens Inc. with an annual interest rate of 7.03%. The collateral provided was the NRR-CAB 2025 vehicle purchased by Fly E-Bike, Inc. As of June 30, 2025, the outstanding balance is $69,140. From July 1 to August 19, 2025, the Company paid $5,962 on principal and interest of the loan. 

  (v) On August 5, 2024, Fly-E Group, Inc obtained a line of credit of $5 million from Peapack-Gladstone Bank with a floating annual interest rate and the current annual interest rate is 8.8%. From August 5 to August 6, 2024, the Company withdrew $996,476 and $423,506 from its line of credit to repay loans from Bank of Hope and JPMorgan Chase Bank, N.A., respectively. From August 7 to August 19, 2024, the Company withdrew $3,490,000 from the line of credit. Mr. Zhou Ou, the Company’s Chief Executive Officer, and Mr. Ke Zhang, the Company’s Chief Human Resource Officer, provided a guarantee on this loan. To secure payment and performance of the liabilities, Fly-E Group granted Peapack-Gladstone Bank a