Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 922

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 4
Chunk 922
---
 17, 2024, the Company
advanced $477,771 to Mr. Ou, Chairman and CEO of the Company, for personal use. This advance is unsecured, bears no interest and
does not have a maturity date. As of March 31, 2025, the advance was paid back in full.

From April 1, 2023 to
March 31, 2025, Mr. Rui Feng, our Chief Operating Officer, advanced a total of $8,711 to the subsidiaries of the Company to support
their business operations. These amounts payable to Mr. Feng are unsecured, bear no interest and do not have a maturity date. From
April 1, 2023 to March 31, 2025, the Company repaid $8,711 to Mr. Feng. As of March 31, 2025, the Company has paid off all amounts
owed to Mr. Feng.

From April 1, 2023 to
March 31, 2025, Mr. Ke Zhang, our Chief Human Resource Officer, advanced an aggregate of $52,802 to the subsidiaries of the Company
to support their business operations. These amounts payable to Mr. Zhang are unsecured, bear no interest and do not have a maturity
date. From April 1, 2023 to March 31, 2025, the Company repaid $52,802 to Mr. Zhang. As of March 31, 2025, the Company has paid
off all amounts owed to Mr. Zhang.

On March 6, 2021, the
Company and DGLG Accounting and Tax LLC (“DGLG”) entered into an engagement letter, wherein the Company engaged DGLG as a
consultant to assist the Company in its IPO planning, financing and tax services. Mr. Guo is a partner at DGLG. In December 2022,
the Company hired Mr. Guo as its former CFO. Under the terms of the engagement agreement with DGLG, the Company has agreed to
compensate DGLG for consulting services based on an hourly fee arrangement. For the years ended March 31, 2025 and 2024, DGLG’s
consulting fees were $225,000 and $100,000, respectively. For the years ended March 31, 2025 and