Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 108

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 108
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 Company advanced a total of $137,431 to Fly E Bike SRL. Such advance is unsecured, bears no interest and does not have a maturity date. As of May 1, 2025, $137,431 is due from Fly E Bike SRL to the Company. In December 2023, the Company engaged DF Technology US Inc (“DFT”) for certain technology services. Mr. Guo, the Company’s former CFO, owns over 50% of the equity interest in DFT. As of May 1, 2025 and March 31, 2024, the accumulative payments to DFT for development of the ERP system were $2,446,580 and $1,554,000, respectively. As of May 1, 2025 and March 31, 2024, construction in progress was $2,310,000 and $275,000, respectively, and primarily relating to the cost incurred to develop the software by DFT. As of May 1, 2025 and March 31, 2024, the Company had a prepayment of $136,580 and $1,279,000, respectively, to DFT. Policies and Procedures for Related Party Transactions Our audit committee charter provides that our audit committee will be responsible for reviewing and approving in advance any related party transaction. This will cover, with certain exceptions set forth in Item 404 of Regulation S-K under the Securities Act, any transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships in which we were or are to be a participant, where the amount involved exceeds $120,000 and a related person had or will have a direct or indirect material interest, including, without limitation, purchases of goods or services by or from the related person or entities in which the related person has a material interest, indebtedness, guarantees of indebtedness and employment by us of a related person. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT The following table sets forth information, As of May 1, 2025, regarding beneficial ownership of our Common Stock by:

| ● | each of our directors and executive officers; |

| ● | all directors and executive officers as a group; and |

| ● | each person, or group of affiliated persons, known by us to beneficially own five percent or more of our shares of Common Stock. |

Beneficial ownership is determined according to the rules of the SEC, and generally means that person has beneficial