Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 1599

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 8
Chunk 1599
---
52%
  
    Exercise price 
    $20.00 
  
    Dividend yield 
    $— 

The stock price and exercise prices stated herein
have been retroactively adjusted to reflect the reverse stock split that occurred in July 2025.

F-24

The following table summarizes the Company’s
activities and status of the Representative’s Warrants:

     Number of Warrant   Weighted Average Exercise Price   Weighted Average Remaining Term (Years)   Outstanding as of March 31, 2024   —    —    —   Issued   25,875   $20.00    4.2   Exercised   —    —    —   Forfeited or expired   —    —    —   Outstanding as of March 31, 2025   25,875   $20.00    4.2  

The number of shares and warrants, as well as
the exercise prices stated herein, have been retroactively adjusted to reflect the reverse stock split that occurred in July 2025.

As of March 31, 2025 and 2024, the subscription
receivable represents the unpaid capital contribution of $219,998 by the stockholders.   

During the year ended March 31, 2024, Mr. Ou
paid certain vendors of the Company to settle certain accounts payable balance on behalf the Company. On June 30, 2023, the Company transferred
$2.26 million, a portion of the accounts payable balance, along with a cash contribution of $0.14 million from Mr. Zhou
Ou as capital contribution (see Note 13). On June 30, 2023, a total of $2.4 million were transferred and recorded as capital
contribution (see Note 13).

10 — INCOME TAX  

(a) Income Tax Expense

The company conduct business both domestically
and internationally and, as a result, the parent company and most of its subsidiaries file a consolidated income tax return in U.S. federal,
U.S. states and U.S. Cities, and one of the subsidiaries files a foreign income tax return in certain foreign jurisdictions.

The Company will file a consolidated annual U.S.
federal tax return for tax year ending March 31, 2025, as well as combined tax