Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 54

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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     154,876 
  
    Security deposits 
     40,334  
     73,025 
  
    Operating lease right-of-use assets 
     588,962  
     1,955,765 
  
    Assets held for sale 
    $897,293  
    $2,462,502 

    LIABILITIES 

    Short-term loan payables 
     37,800  
     25,498 
  
    Accrued expenses and other payables 
     15,334  
     — 
  
    Operating lease liabilities – current 
     184,101  
     319,874 
  
    Operating lease liabilities – non-current 
     425,211  
     1,807,075 
  
    Liabilities held for sale 
     662,446  
     2,152,447 

There was $1,092 gain on the sale of subsidiaries on July 1, 2025:

Total consideration determined: $235,939

Net assets disposed excluded intercompany other receivables: $234,847

Gain on disposal: $1,092

15 — SUBSEQUENT EVENTS   

On July 1, 2025, the Company sold three subsidiaries: OFLYO INC, FLYCYCLE INC, and FLYBX2381
INC to third-party individuals. The consideration determined was $235,939. As of August 19, 2025, the Company did not receive any consideration
from the third-party individuals.

From
July 1, 2025 to July 28, 2025, certain holders of the Company’s outstanding warrants exercised their rights to acquire common stock.
The exercises were completed on a cashless basis pursuant to the terms of the warrant agreements, resulting in the issuance of 8,219,634
shares of common stock. The exercises did not generate any cash proceeds to the Company. All share numbers for warrant exercises prior
to the reverse stock split have been retroactively adjusted to reflect the 1-for-5 reverse stock split. As of August 19, 2025, 11,438,218
warrants were exercised.

On
August 1, 2025, the Company sold three subsidiaries: FLAM, FLYTRON, and MEEBIKE to third-party individuals. The consideration determined
was $96,327. As of August 19,