Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 47

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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 30, 
    Operating Lease Liabilities 
  
    2026 
    $2,698,678 
  
    2027 
     2,676,687 
  
    2028 
     2,468,939 
  
    2029 
     1,856,316 
  
    2030 
     387,789 
  
    Thereafter 
     882,555 
  
    Total lease payments 
     10,970,964 
  
    Less: interest 
     (1,647,025)
  
    Present value of lease liabilities 
    $9,323,939 

12 — COMMITMENTS AND CONTINGENCIES

Commitments

The Company has not entered any off-balance sheet financial guarantees or other off-balance
sheet commitments to guarantee the payment obligations of any third parties. The Company has not entered any derivative contracts that
are indexed to its shares and classified as shareholder’s equity or that are not reflected in its unaudited condensed consolidated
financial statements. Furthermore, the Company does not have any retained or contingent interest in assets transferred to an unconsolidated
entity that serves as credit, liquidity or market risk support to such entity. The Company does not have any variable interest in any
unconsolidated entity that provides financing, liquidity, market risk or credit support to itself or engages in leasing, hedging or product
development services with itself.

Contingencies

Legal

From time to time, the Company is a party to certain legal proceedings, as well as certain
asserted and unasserted claims. Amounts accrued, as well as the total amount of reasonably possible losses with respect to such matters,
individually and in the aggregate, are not deemed to be material to the unaudited condensed consolidated financial statements.

The Company’s products and other production facilities as well as the packaging,
storage, distribution, advertising and labeling of its products, are subject to extensive legal and regulatory requirements. For example,
pursuant to the DMV registration requirement, the Company must satisfy the DMV Registration requirements and conduct required testing
for all of its products sold in U.S. Loss of or failure to renew or obtain necessary permits, licenses, registrations, or certificates
could prevent the Company from legally selling its products in the U.S. If the Company were found to be in violation of applicable
laws and regulations, it could be subject to administrative punishment, including fines, injunctions, recalls or