Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 140

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1
Chunk 140
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March 31, 2025 and 2024, the total interest expenses on the Company’s outstanding loans amounted to $405,615 and $152,050,
respectively. The weighted average interest rate on short-term borrowings outstanding as of March 31, 2025 and 2024 was 13.1% and
nil, respectively.

F-23

9 — STOCKHOLDER’S EQUITY

Prior to the effectiveness of the 2024 Stock Split and 2025 Reverse
Stock Split discussed below, the Company was authorized to issue 400 shares of common stock having a par value of $0.01 per share and
40 shares of preferred stock having a par value of $0.01 per share. There were 200 shares of common stock were issued and outstanding
prior to the effectiveness of the stock splits.

2024 Stock Split

On March 27, 2024, the Company’s board of
directors approved a 1-for-110,000 stock split of the Company’s capital stock. The stock split became effective on April 2, 2024.
The par value of the Company’s common stock remained unchanged at $0.01 per share, and the number of authorized shares of the Company’s
capital stock was increased from 440 to 48,400,000, with the number of authorized shares of common stock and preferred stock being increased
from 400 to 44,000,000 and from 40 to 4,400,000, respectively. On June 7, 2024, the Company amended and restated the certificate of incorporation
to authorize the Company to issue up to 110,000,000 shares. The par value of the Company’s common stock remained unchanged at $0.01
per share, and the number of authorized shares of the Company’s capital stock increased to 110,000,000, with the number of authorized
shares of common stock and preferred stock being increased 100,000,000 and 10,000,000, respectively. On March 10, 2025, the Company amended
and restated the certificate of incorporation to authorize the Company to increase the authorized shares of common stock of the Company
from 100,000,000 shares to 300,000,000 shares. The par value of the Company’s common stock remained unchanged at $0.01 per share.

On June 7, 2024, the Company completed its initial
public offering and issued