Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 167

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 167
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   |     | $    |         — |
| Termination of operating lease right-of-use assets and operating lease liabilities |     | $                         |  (863,513 | ) |     | $    |         — |
| Right-of-use assets obtained in exchange for operating lease liabilities           |     | $                         | 1,585,285 |   |     | $    | 3,579,568 |

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-36 FLY-E GROUP, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1 —DESCRIPTION OF BUSINESS, ORGANIZATION AND BASIS OF PRESENTATION Organization and principal activities Fly -EGroup, Inc. (the “Company” or “Fly -EGroup”) was incorporated under the laws of the State of Delaware on November 1, 2022. The Company has no substantive operations other than holding all of the issued and outstanding shares of Fly E -BikeInc. (“Fly E -Bike”) and Fly EV, Inc. (“Fly EV”). Fly E -Bikeand Fly EV were incorporated under the laws of the State of Delaware on August 22, 2022 and November 1, 2022, respectively. Fly EV has no substantive operations. The Company, through its wholly owned subsidiaries, is principally engaged in designing, installing and selling smart electric bikes (“E -bikes”), electric motorcycles (“E -motorcycles”), electric scooters (“E -scooters”), and related accessories under the brand name of “Fly E -Bike.” The Company’s principal operations and geographic markets are mainly in the United States of America (the “U.S.”). During the nine months ended December 31, 2024, the Company closed four stores in the U.S. As of February 19, 2025, the Company has opened a total of 36 stores, including 35 retail stores in the U.S and one retail store in Canada. The Company offers rental services from selected locations. The Company also operates one online store, focusing on selling E -motorcycles, E -bikes, and E -scooters. The Company plans to open another online store focusing on selling gas bikes in the future. The Company’s business was initially operated under Ctate Inc. (“Ctate”), a corporation formed under the laws of the State of New York in 2018. Before merging with Fly E -Bike