Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 104

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 the offering were $6.9 million, prior to deducting the placement agent’s
fees and offering expenses payable by the Company. Each share of common stock was sold together with two warrants, with each warrant
to purchase one share of common stock. Each warrant is exercisable immediately with an exercise price equal to 120% of the offering price
($1.4565 per share) and expires on the fifth anniversary of the issuance date, subject to certain adjustments.

On July 3, 2025, the Company implemented a 1-for-5 reverse stock split of its issued and
outstanding shares of common stock. As a result, all share and per share information has been retroactively adjusted to reflect the reverse
stock split for all periods presented. The reverse stock split reduced the number of shares of common stock issued and outstanding from
53,183,053 to 10,636,611 as of June 30, 2025. The par value per share remained unchanged at $0.01.

The reverse stock split was accounted for retrospectively in the accompanying unaudited
condensed consolidated financial statements and notes for all periods presented. All references to the number of shares of common stock,
including per share amounts, have been adjusted to reflect the reverse stock split.

5

The unaudited condensed consolidated financial statements include the financial statements
of the Company and each of the following subsidiaries as of June 30, 2025.

  Name   Background   Ownership  FLY-E GROUP, INC.   ● A Delaware corporation ● Incorporated on November 1, 2022 ● A holding company   Parent Company             FLY EV, INC.   ● A Delaware corporation ● Incorporated on November 1, 2022 ● A holding Company   100% owned by Fly-E Group, Inc.             FLY E-BIKE, INC.   ● A Delaware Company ● Incorporated on August 22, 2022 ● A holding Company   100% owned by Fly-E Group, Inc.             UNIVERSE KING CORP   ● A New York corporation ● Incorporated on November 19, 2018 ● A retail store   100% owned by Fly E-Bike, Inc. 

  TKPGO CORP.   ● A New York corporation ● Incorporated on July 3, 2018 ● A retail store   100% owned by Fly E-Bike, Inc.             FLYFLS INC