Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 1593

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 8
Chunk 1593
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 the Company’s Chief Human Resource Officer, provided a guarantee on this loan. To secure payment and performance of the liabilities,
Universe King Corp. pledged to JPMorgan Chase Bank, N.A., a continuing security interest in all of its right, title and interest in all
of its properties, whether now owned or hereinafter acquired and whether now existing or hereafter arising. On August 9, 2024, the Company
paid off this loan in full. 

  (ii) On January 12, 2023, the Company’s subsidiary, Arfy Corp.
obtained a five-year long-term loan of $70,000 from JPMorgan Chase Bank, N.A. with an annual interest rate of 9.8%. Mr. Tong Chen,
an original stockholder of the Company, provided a guarantee on this loan. To secure payment and performance of the liabilities, Arfy
Corp. pledged to JPMorgan Chase Bank, N.A., a continuing security interest in all of its right, title and interest in all of its properties,
whether now owned or hereinafter acquired and whether now existing or hereafter arising. On August 9, 2024, the Company paid $52,069 and
as of March 31, 2025, the outstanding balance is $301. 

  (iii) On August 24, 2022, Universe King Corp. obtained a five-year long-term
loan of $63,674 from Leaf Capital Funding, LLC with an annual interest rate of 7.0%. The collateral provided included the Fuso trucks,
whether now owned or hereafter acquired by Universe King Corp., and together with all accessories, accessions, attachments thereto, and
all other substitutions, renewals, replacements and improvements and all proceeds of the foregoing. As of March 31, 2025, the outstanding
balance is $34,620. From April 1 to July 15, 2025, the Company paid $3,785 on principal and interest of the loan. 

  (iv) On January 3, 2023, Fly E-Bike, Inc. obtained a one-year and three-month long-term loan of $100,000 from Sinoelite Corp with no interest. On April 25, 2024, the Company paid off this loan in full. 

  (v) On June 12, 2023, Flyebikemiami Inc obtained a four-year long-term loan of