Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 1496

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 7A
Chunk 1496
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 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,  2024   DF Technology US Inc  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Long-term prepayment for software development  $136,580   $1,279,000   Long-term prepayment for software development — related parties, net        $136,580   $1,279,000  

In December 2023, the Company engaged DFT
for development of certain technology services. Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, owns over
50% of the equity interest in DFT. As of March 31, 2025 and 2024, the Company paid $136,580 and $1,279,000 to DFT as prepayment for
software development, respectively. During the fiscal year of 2025, the Company started to use part of the ERP system which was valued
at $2,310,000 and treated that part as computer hardware and software and started for depreciation. As of March 31, 2025 and 2024, construction
in progress was nil and $275,000, respectively (see Note 5 – Property and Equipment).

F-30

Other payables — related parties

  Name of Related Party  Relationship  Nature  March 31,  2025(i)   March 31,