Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 37

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 other property of the borrower in the possession of lender. From July 1 to August 19, 2025, the Company paid $46,655 on principal and interest of the loan. 

  (vii) On February 10, 2025, Fly E-Bike, Inc. obtained a five-month short-term loan of $255,000 from AOWINV LLC with no interest. On June 10, 2025, the Company paid off this loan in full. 

  (viii) On April 29, 2025, the Company obtained a 30-week short-term loan of $1,575,000 from Agile Capital Funding, LLC, with an annual interest rate of 72.8%, which requires weekly repayments of $74,550. The collateral provided included all properties, rights and assets of FLY E-BIKE, INC. From July 1 to August 19, 2025, the Company paid $521,850 on principal and interest of the loan. 

  (ix) On June 23, 2025, a total of 8 subsidiaries of the Company obtained 42-week short-term loans from Stripe, Inc. with an aggregate principal amount of $126,100 and 18-month long-term loans from Stripe, Inc. with an aggregate principal amount of $216,000. Repayment schedules differ by agreement and include both weekly and 60-day installment options. The stated annual interest rates range from 10.2% to 20.4%. 

For
the three months ended June 30, 2025 and 2024, the total interest expenses on the Company’s outstanding loans amounted to $546,234
and $68,082, respectively. The weighted average annual interest rate   on
short-term borrowings outstanding as of June 30, 2025 and March 31, 2025 was 37% and 13.1%, respectively.

22

9 — STOCKHOLDERS’ EQUITY

Prior to the effectiveness of the stock splits
discussed below, the Company was authorized to issue 400 shares of common stock having a par value of $0.01 per share and 40 shares of
preferred stock having a par value of $0.01 per share. There were 200 shares of common stock were issued and outstanding prior to the
effectiveness of the stock splits.

2024 Stock Split

On March 27, 2024, the Company’s board