Company: FLYE
Filing Date: 2025-04-22
Form Type: S-1
Source: 0001213900-25-034233
Chunk: 22

Company: Fly-E Group, Inc.
Filing Date: 2025-04-22
Form: S-1
Chunk 22
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 exceed $1.00 per share for a minimum of 10 consecutive business days
during this 180 day period. On April 2, 2025, Nasdaq notified us that, although the Company has not regained compliance with the
minimum bid price requirement, the Company is eligible to receive an additional 180 calendar day period or until September 29, 2025, to
regain compliance with the minimum bid price requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(A). We will monitor the closing bid
price of our Common Stock and may, if appropriate, consider implementing available options, including, but not limited to, implementing
a reverse share split of our Common Stock, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
However, there can be no assurance that we will be able to regain such compliance.

If Nasdaq delists our Common Stock from trading
on its exchange, we and our stockholders could face significant material adverse consequences including:

| ● | limited availability of market quotations for our securities; |

| ● | a determination that our Common Stock is a “penny stock,”                                                                                  
 which will require brokers trading in our Common Stock to adhere to more stringent rules, possibly resulting in a reduced level of trading 
 activity in the secondary trading market for our Common Stock;                                                                             |

| ● | a limited amount of analyst coverage; and |

| ● | decreased ability to issue additional securities or obtain additional financing in the future. |

If we are unable to resolve the trademark infringement lawsuit filed by UL, we may incur substantial losses and face significant disruption to our business.

On or about March 12, 2025, UL filed a complaint against us, certain of our subsidiaries, and individuals affiliated with the Company in the Eastern District of New York. The complaint alleges improper use of UL’s trademark, including claims that certain products were falsely represented as UL-certified. UL seeks statutory damages of $2,000,000 per instance of alleged counterfeit use and asserts claims including federal trademark infringement and counterfeiting, unfair competition, false designation of origin, unjust enrichment, and deceptive practices.

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We are currently engaged in settlement discussions with UL. However, if we are unable to reach a settlement, we intend to vigorously defend against the lawsuit. If we are unsuccessful, or if the dispute results in prolonged litigation, we may be required to cease selling, incorporating certain components into, or using vehicles or offering goods or services that incorporate