Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 852

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 3
Chunk 852
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 For the Years Ended March 31   Name of Related Party  Relationship  Nature  2025   2024   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Product sales  $42,010   $326,914   Revenues — related parties        $42,010   $326,914  

During the years ended March 31, 2025 and 2024,
Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over 50% of the equity interest, purchased certain
EV products from the Company in the amount of $42,010 and $326,914, respectively.

Purchase of Intangible Assets — related
parties

  Name of Related Party   Relationship   Nature   March 31, 
2025     March 31, 2024    DF Technology US Inc   Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity   Purchase of Software   $ 500,000     $ —    Purchase of Intangible Assets — related parties           $ 500,000     $ —   

In December 2023, the Company engaged DFT
for development of certain technology services. Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, owns over
50% of the equity interest in DFT. In July 2024, the Company engaged DFT for development of a new APP, GO FLY APP, for the rental
business. The total contract price for the GO FLY APP is $500,000, and the GO FLY APP was delivered on September 5, 2024.

(C) Other Related Party Transactions

On March 6, 2021, the Company and DGLG entered
into an engagement letter, pursuant to which the Company engaged DGLG as a consultant to assist the Company in its IPO planning, financing
and tax services. Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, is a partner at DGLG. 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. DGLG’s consulting fees were $225