Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 143

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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 Expenses and other payables). From July 1 to August
19, 2025, the Company paid $350,000 to UL.

Inflation

Inflationary factors, such as increases in personnel and overhead costs, could impair the
Company’s operating results. Although the Company does not believe that inflation has had a material impact on the Company’s
financial position or results of operations to date, a high rate of inflation in the future may have an adverse effect on the Company’s
ability to maintain current levels of gross margin and operating expenses as a percentage of sales revenue if the revenues do not increase
with such increased costs.

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13 — RELATED PARTY TRANSACTIONS

(A) Related party balances

Accounts
receivable, net — a related party

  Name of Related Party  Relationship  Nature  June 30,  2025   March 31,  2025   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Accounts receivable  $78,565   $78,565   Accounts receivable – a related party         78,565    78,565   Less: Allowance for credit losses         41,100    41,100   Accounts receivable, net - a related party        $37,465   $37,465  

During the three months ended June 30, 2025, the Company received nil from Fly E Bike SRL.

Prepayments and other receivables — related parties

  Name of Related Party  Relationship  Nature  June 30,  2025   March 31,  2025   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Other receivables  $147,288   $—   PJMG LLC  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Prepayments   75,000    120,000   Prepayments and other receivables – related parties        $222,288   $120,000  

During the three months ended June 30, 2025, the Company advanced $147,288 to Fly E Bike
SRL, a distributor the