Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 583

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 583
---
 of Related Party  Relationship  Nature  March 31,  2025   March 31,  2024   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Other receivables  $—   $180,256   PJMG LLC  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Prepayments   120,000    60,000   Prepayments and other receivables – related parties        $120,000   $240,256  

During the year ended March 31, 2025, the Company
advanced nil to Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over 50% of the equity interest. This advance
is unsecured, bears no interest and does not have a maturity date. On June 12, 2024, the Company received $180,256 from Fly E Bike SRL.
On April 1, 2023, the Company agreed to retain the services of PJMG, a company in which Mr. Guo, the Company’s former CFO who resigned
on November 6, 2024, holds over 50% of the equity interests as a consultant following the completion of its IPO. PJMG was engaged to provide
compliance consulting services related to accounting, finance, and management, as well as to oversee market planning and development,
follow-on fundraising, and investor relationship management from June 2024 to May 2025. The service fee is $45,000 for the first month
and from the second month the fees will be $15,000 per month. To secure these services, the Company prepaid a total of $120,000 to PJMG
as of March 31, 2025. From August 9, 2024 to September 17, 2024, the Company advanced $480,000 to Mr. Ou, Chairman and CEO of the Company,
for personal use. This advance is unsecured, bears no interest and does not have a maturity date. As of March 31, 2025, the advance was
paid back in full.

Long-term prepayment for software development
– related parties, net

  Name of Related Party  Relationship  Nature  March 31,  2025   March 31