Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 42

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 1
Chunk 42
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 or other property of the borrower in the possession of lender. From October 1 to December 16, 2025, the Company paid $20,381 on principal and interest of the loan. 

  (vii) On February 10, 2025, Fly E-Bike, Inc. obtained a five-month short-term loan of $255,000 from AOWINV LLC with no interest. On June 10, 2025, the Company paid off this loan in full. 

  (viii) On April 29, 2025, the Company obtained a 30-week short-term loan of
$1,575,000 from Agile Capital Funding, LLC, with an annual interest rate of 72.8%, which requires weekly repayments of $74,550. The
collateral provided included all properties, rights and assets of FLY E-BIKE, INC. From October 1 to December 16, 2025, the Company paid
off this loan in full. 

  (ix) On June 23, 2025, a total of 8 subsidiaries of the Company obtained 42-week short-term loans from Stripe, Inc. with an aggregate principal amount of $126,100 and 18-month long-term loans from Stripe, Inc. with an aggregate principal amount of $216,000. Repayment schedules differ by agreement and include both weekly and 60-day installment options. The stated annual interest rates range from 10.2% to 20.4%. 

23

For the three months ended September 30, 2025
and 2024, the total interest expenses on the Company’s outstanding loans amounted to $539,537 and $23,795, respectively. For the
six months ended September 30, 2025 and 2024, the total interest expenses on the Company’s loans amounted to $1,085,771 and $91,877,
respectively. The weighted average annual interest rate on borrowings outstanding as of September 30, 2025 and March 31, 2025 was 37%
and 13.1%, respectively.

9 — STOCKHOLDERS’ EQUITY

Prior to the effectiveness of the stock splits
discussed below, the Company was authorized to issue 400 shares of common stock having a par value of $0.01 per share and 40 shares of
preferred stock having a par value of $0.01 per share. There were 200