Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 201

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 201
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 |     | $    | 1,973,031 |   |
| Canada |     |                           | (115,517   | ) |     |      |   (33,146 | ) |
| Total  |     | $                         | (2,528,497 | ) |     | $    | 1,939,885 |   |

For the nine months ended December 31, 2024, the
total pre-tax loss was $ million, which included $ million pre-tax loss in the U.S. and $ million pre-tax loss in Canada. For
the nine months ended December 31, 2023, the total pre-tax income was $ million, which included $ million pre-tax income in the
U.S. and $$ million pre-tax loss in Canada.

The following table reconciles to the Company’s effective tax
rate:

|                                                          |     | For the Nine Months Ended 
 December 31               |       2024 |    |     |   |      2023 |    |
|:---------------------------------------------------------|:----|:--------------------------|-----------:|:---|:----|:--|----------:|:---|
| Pre-tax book (loss) income                               |     | $                         | (2,528,497 | )  |     | $ | 1,939,885 |    |
| Federal Statutory rate                                   |     |                           |       21.0 | %  |     |   |      21.0 | %  |
| State income tax rate, net of federal income tax benefit |     |                           |        4.3 | %  |     |   |       8.0 | %  |
| City income tax rate, net of federal income tax benefit  |     |                           |        3.7 | %  |     |   |       5.0 | %  |
| Foreign statutory rate                                   |     |                           |        0.4 | %  |     |   |      (0.4 | )% |
| Permanent differences                                    |     |                           |       (4.0 | )% |     |   |       5.3 | %  |
| Return to project adjustment                             |     |                           |       (4.8 | )% |     |   |      (1.4 | )% |
| Total                                                    |     |                           |       20.6 | %  |     |   |      37.