Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 35

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1
Chunk 35
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 condition and operating results.

23

We are dependent upon our executives for
their services and any interruption in their ability to provide their services could cause us to cease operations.

The loss of the services of
any member of our management team, including our CEO, could have a material adverse effect on us. We do not maintain any key man life
insurance on our executives, including our CEO. The loss of the services of any of our executive management could impair our ability
to execute our business plan and growth strategy, as we may not be able to find suitable individuals to replace such personnel on a timely
basis or without incurring increased costs, or at all. Our future success will also depend on our ability to attract, retain and motivate
other highly skilled employees. Competition for personnel in our industry is intense. We may not be able to retain our key employees or
attract, assimilate or retain other highly qualified employees in the future. If we do not succeed in attracting new personnel or retaining
and motivating our current personnel, our business, prospects, financial condition and operating results will be adversely affected.

Our management team does not have any experience
in operating a publicly traded company.

While our management team has
a wide breadth of business experience, none of our executive officers have held an executive position at a publicly traded company. Given
the onerous compliance requirements to which public companies are subject, there is a chance our executive officers will fail to perform
at a level expected of public company officers. In such an event, the Company’s share price could be adversely affected. The management
team’s limited experience in dealing with the increasingly complex laws pertaining to public companies could be a significant disadvantage
in that it is likely that an increasing amount of their time may be devoted to these activities which will result in less time being devoted
to the management and growth of the company. We may not have adequate personnel with the appropriate level of knowledge, experience and
training in the accounting policies, practices or internal control over financial reporting required of public companies in the United States.
In addition, the development and implementation of the standards and controls necessary for us to achieve the level of accounting standards
required of a public company in the United States may require costs greater than expected. It is possible that we will be required
to expand our employee base and hire additional employees to support our operations as a public company which will increase our operating
costs in future periods.

We may need to defend ourselves against
patent or trademark infringement claims