Company: FLYE
Filing Date: 2025-02-14
Form Type: NT 10-Q
Source: 0001213900-25-014315
Chunk: 2

Company: Fly-E Group, Inc.
Filing Date: 2025-02-14
Form: NT 10-Q
Chunk 2
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period in 2023, which was primarily due to the decrease in sales volume by 3,511 units, from 13,500 units sold for the three months ended
December 31, 2023, to 9,989 units sold for the three months ended December 31, 2024. Cost of revenues decreased by 30.0%, from approximately
$4.5 million for the three months ended December 31, 2023, to approximately $3.1 million for the three months ended December 31, 2024.
Total operating expenses were approximately $3.7 million for the three months ended December 31, 2024, an increase of approximately $0.7
million, or 26.0%, compared to approximately $2.8 million for the three months ended December 31, 2023. The increase in operating expenses
was attributable to the increase in our payroll expenses, rent expenses, advertising expenses, professional fees, and insurance expenses.
For the three months ended December 31, 2024 and 2023, the Registrant had a net loss of approximately $0.7 million, a change of approximately
$0.7 million, or 3376.8%, from net income of $20,889 for the three months ended December 31, 2023.

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The amounts reported above are still under review
and may differ once reported in the Form 10-Q to be filed by the Registrant.

Cautionary Note Regarding Forward-Looking Statements

This Notification of Late Filing on Form 12b-25,
or this Form 12b-25, contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe
future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “believe,”
“may,” “future,” “plan,” “should” or “expects.” Forward-looking statements
in this Form 12b-25 include, but are not limited to, the expected timing of the filing of the Form 10-Q and the Registrant’s expected
financial results to be included in