Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 160

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 160
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 DGLG for consulting services based on an hourly
fee arrangement. DGLG’s consulting fees were nil and $100,000 for the three months ended December 31, 2024 and December 31, 2023,
respectively, and $225,000 and $100,000 for the nine months ended December 31, 2024 and 2023, respectively. In addition, during the three
and nine months ended December 31, 2024, the Company paid DGLG a total of $9,000 and $37,400 for tax services, including sales tax services,
payroll tax services, and income tax services, rendered by DGLG, respectively.

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. To secure these services, the Company prepaid a
total of $165,000 to PJMG as of December 31, 2024. $105,000 was expensed as consulting expenses during the three months ended
December 31, 2024. $165,000 was expensed as consulting expenses during the nine months ended December 31, 2024. During the
three and nine months ended December 31, 2024, the Company paid PJMG a total of nil and $232,547 for consulting services, respectively.

14 — SUBSEQUENT
EVENTS    

The Company has evaluated subsequent events after
December 31, 2024, up through February 19, 2025, the date at which the unaudited condensed consolidated financial statements were issued.
Except for the events mentioned below, the Company did not identify any subsequent events with material financial impact on the Company’s
unaudited condensed consolidated financial statements.

31

Item 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations 

The following discussion of our financial condition
and results of operations should be read in conjunction with the financial statements and the notes thereto included in this Report. The
following discussion contains forward-looking statements. Actual results could differ materially from the results discussed in the forward-looking
statements. See “Item 1A. Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements”. 

Overview

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