Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2106

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 10
Chunk 2106
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, the Company repaid $52,802 to Mr. Zhang. As of March 31, 2025, the Company has paid
off all amounts owed to Mr. Zhang.

On March 6, 2021, the
Company and DGLG Accounting and Tax LLC (“DGLG”) entered into an engagement letter, wherein the Company engaged DGLG as a
consultant to assist the Company in its IPO planning, financing and tax services. Mr. Guo is a partner at DGLG. In December 2022,
the Company hired Mr. Guo as its former CFO. Under the terms of the engagement agreement with DGLG, the Company has agreed to
compensate DGLG for consulting services based on an hourly fee arrangement. For the years ended March 31, 2025 and 2024, DGLG’s
consulting fees were $225,000 and $100,000, respectively. For the years ended March 31, 2025 and 2024, the Company paid DGLG
a total of $61,050 and $123,000, respectively, for tax services. As of March 31, 2025, the Company did not owe any amount to DGLG.

On April 1, 2023, the
Company agreed to retain the services of PJMG LLC (“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 are $15,000 per month. To secure these services, the Company prepaid a
total of $120,000 to PJMG as of March 31, 2025. During the year ended March 31, 2025, the Company paid PJMG a total of $372,047 for consulting
services. $312,047 was expensed as consulting expenses during the year ended March 31, 2025.

Fly E Bike SRL, a company formed
under the laws