Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 59

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 1
Chunk 59
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2025   March 31,  2025   DF Technology US Inc (“DFT”)  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   Long-term prepayment for software development — a related party        $—   $136,580  

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 September 30, 2025 and March 31, 2025, the Company paid $nil and $136,580 to DFT as prepayment
for software development, respectively. The total contract price for the ERP system is $2,500,000, and the ERP system was delivered on
May 20, 2025. (see Note 5 – Property and Equipment).

33

(B) Related party transactions  

Revenues — a related party

              For the three Months Ended  September 30     For the Six Months  Ended September 30    Name of Related Party   Relationship   Nature   2025      2024     2025     2024    Fly E Bike SRL   Zhou Ou (CEO), owns over 50% equity interest of this entity   Product sales   $ —     $ 44,143     $ —     $ 47,785    Revenues — a related parties           $ —     $ 44,143     $ —     $ 47,785   

During the three months ended September 30, 2025
and 2024, Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over 50% of the equity interest, purchased
certain EV products from the Company in the amount of $nil and $44,143, respectively. During the
six months ended September 30, 2025 and 2024, Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over
50% of the equity interest, purchased certain EV products from the Company in the amount