Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 199

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 199
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 according to ASC:815-40, the Representative’s
Warrants are classified as equity. None of the Representative’s Warrants were exercised as of December 31, 2024.

The fair value of the warrant, using the Black-Scholes
Model on the date of issuance was $.

|                         |     | June 7, 
 2024    |       |   |
|:------------------------|:----|:--------|------:|:--|
| Stock price             |     | $       |  4.00 |   |
| Risk-free interest rate |     |         |  4.46 | % |
| Volatility              |     |         | 56.52 | % |
| Exercise price          |     | $       |  4.00 |   |
| Dividend yield          |     | $       |     - |   |

The following table summarizes the Company’s
activities and status of the Representative’s Warrants:

| Outstanding as of March 31, 2024    |     | Number of 
 Warrant   |       - |     | Weighted 
 Average  
 Exercise 
 Price    |    - |     | Weighted  
 Average   
 Remaining 
 Term      
 (Years)   |   - |
|:------------------------------------|:----|:----------|--------:|:----|:---------|-----:|:----|:----------|----:|
| Issued                              |     |           | 129,375 |     | $        | 4.00 |     |           | 4.5 |
| Exercised                           |     |           |       - |     |          |    - |     |           |   - |
| Forfeited or expired                |     |           |       - |     |          |    - |     |           |   - |
| Outstanding as of December 31, 2024 |     |           | 129,375 |     | $        | 4.00 |     |           | 4.4 |

As of December 31, 2024 and March 31, 2024, the
subscription receivable represents the unpaid capital contribution of $ by the stockholders.

During the nine months ended December 31, 2023,
Mr. Ou paid certain vendors of the Company to settle certain accounts payable balance on behalf the Company. On June 30, 2023, the Company
transferred $ million, a portion of the accounts payable