Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 220

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 220
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been fully remediated as of June 30, 2025. Accordingly, we continue to consider these material weaknesses to be ongoing as of that date.

As of June 30, 2025, we believe that our internal controls over financial reporting were
not effective in providing reasonable assurance regarding the reliability of our financial reporting due to the material weaknesses identified
above.

We do not expect that our disclosure controls and procedures will prevent all errors and
all instances of fraud. Disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not
absolute, assurance that the objectives of the disclosure controls and procedures are met. Further, the design of disclosure controls
and procedures must reflect the fact that there are resource constraints, and the benefits must be considered relative to their costs.
Because of the inherent limitations in all disclosure controls and procedures, no evaluation of disclosure controls and procedures can
provide absolute assurance that we have detected all our control deficiencies and instances of fraud, if any. The design of disclosure
controls and procedures also is based partly on certain assumptions about the likelihood of future events, and there can be no assurance
that any design will succeed in achieving its stated goals under all potential future conditions.

Changes in Internal Control over Financial Reporting

There was no change in our internal control over financial reporting that occurred during
the period covered by this Report that has materially affected, or is reasonably likely to materially affect, our internal control over
financial reporting.

44

PART II - Other Information

Item 1. Legal Proceedings.

From time to time, we may be subject to legal proceedings arising in the ordinary course
of business. Regardless of the outcome of any existing or future litigation, litigation can have an adverse impact on us because of defense
and settlement costs, diversion of management resources, and other factors.

Item 1A. Risk Factors. 

There have been no material changes to our Risk Factors as disclosed in our Annual Report
on Form 10-K for the year ended March 31, 2025 as filed with the SEC on July 15, 2025.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

Trading Arrangements

During the quarterly period ended June 30, 2025, none of our directors or officers (as
defined in Rule 16a-1(f) promulg