Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 855

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 3
Chunk 855
---
-of-use assets 
     1,955,765 
  
    Assets held for sale 
    $2,462,502 

    LIABILITIES 

    Accrued expenses and other payables 
     25,498 
  
    Operating lease liabilities – current 
     319,874 
  
    Operating lease liabilities – non-current 
     1,807,075 
  
    Liabilities held for sale 
     2,152,447 

There was no gain or loss on the sale of subsidiaries:

Total consideration determined: $310,055

Net assets disposed excluded intercompany other
payables: $310,055

Gain on disposal: $nil

F-32

15 — SUBSEQUENT EVENTS   

The Company has evaluated subsequent events after
March 31, 2025, up through July 15, 2025, the date at which the consolidated financial statements
were issued. Except for the events mentioned below, the Company did not identify any subsequent events with material financial impact
on the Company’s consolidated financial statements.

On April 1, 2025, the Company sold three subsidiaries:
FLYEBIKE BROOKLYN INC, FLYMHT659 INC, and FLYBX745 INC to third-party individuals (Refer to Note - 14 — Disposal of Subsidiaries).

On April 29, 2025, the Company obtained a short-term
loan of $1,575,000 from Agile Capital Funding, LLC, which requires weekly repayments of $70,000. From April 29 to July 15, 2025, the Company
paid $372,500 on principal and interest of the loan.

On May 1, 2025, the Company sold three subsidiaries:
ARFY CORP., FLY GC INC., and ESEBIKE INC to third-party individuals. The consideration determined was $156,517. As of July 15, 2025, the Company did not receive any consideration from the third-party
individuals.

On June 1, 2025, the Company sold two subsidiaries:
UFOTS CORP and FLYCORONA INC to third-party individuals. The consideration determined was $60,207. As of July 15, 2025, the Company did not receive any consideration from the third-party
individuals.

On June 4, 2025, the Company issued 5,719,111
shares of common stock