Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 169

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 8
Chunk 169
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30, 2025.

The fair value of the 2025 Warrant, using the
Black-Scholes Model on the date of issuance was $21,296,598. The key inputs into the Black-Scholes Model variables were as follows at
measurement date:

    June 4, 2025 
  
    Stock price 
    $55.5 
  
    Risk-free interest rate 
     3.93%
  
    Volatility 
     53.92%
  
    Exercise price 
    $29.13 
  
    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 and November 2025.

The following table summarizes the Company’s
activities and status of the Representative’s Warrants and 2025 Warrants:

     Number of  Warrant   Weighted  Average  Exercise Price   Weighted Average Remaining Term (Years)   Outstanding as of March 31, 2025   1,294   $400.00    4.2   Issued   571,912   $29.13        Exercised   (571,912)  $29.13        Forfeited or expired   —   $—        Outstanding as of September 30, 2025   1,294   $400.00    3.7  

25

     Number of  Warrant   Weighted  Average  Exercise Price   Weighted Average Remaining Term (Years)   Outstanding as of June 30, 2025   573,206   $29.97    4.9   Issued   —   $—        Exercised   (571,912)  $29.13        Forfeited or expired   —   $—        Outstanding as of September 30, 2025   1,294   $400.00    3.7  

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 and
November 2025.

During the three months ended September 30, 2025,
all holders of the Company