Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 245

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 2
Chunk 245
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million for the nine months ended December 31, 2023, which was due to the purchase of equipment of $0.5 million, payment of intangible
assets of $0.1 million and the prepayment to related parties for software development of $0.4 million. 

43

Financing Activities

Net cash provided by financing activities was $12.2 million for
the nine months ended December 31, 2024, which consisted of net proceeds of the IPO of $9.2 million, and loan proceeds of $7.1 million,
partially offset by repayments of loans of $3.6 million and payment of IPO costs of $0.3 million.

Net
cash provided by financing activities was $30,550 for the nine months ended December 31, 2023, which consisted of repayment of the
related party’s loan of $0.2 million, repayments of loan payables of $0.4 million, repayments of other payables of related
party of $0.2 million, payments of deferred IPO cost of $0.1 million, and payments of related-party receivable of $0.1 million,
partially offset by  borrowing from loan payables of $0.8
million and capital contribution from shareholders of $0.1 million.

Commitments and Contractual Obligations

The following table presents our material contractual
obligations as of December 31, 2024:

    Contractual Obligations 
    Total  
    Less than  1 year  
    1 – 2 years  
    3 – 5 years  
    Thereafter 
  
    Operating Lease Obligations and others 
    $15,304,367  
     3,151,170  
     6,394,599  
     4,082,061  
     1,676,537 
  
    Loan Payable 
     7,099,795  
     5,009,061  
     183,471  
     19,893  
     1,887,370 
  
    Total Contractual Obligations 
    $22,404,162  
     8,160,231  
     6,578,070  
     4,101,954  
     3,563,907 

Off-Balance Sheet Arrangements

We have not entered