Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 58

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 1
Chunk 58
---
 related party         73,130    78,565   Less: Allowance for credit losses         (41,100)   (41,100)  Accounts receivable, net – a related party        $32,030   $37,465  

During the three and six months ended September
30, 2025, the Company received $5,435 from Fly E Bike SRL.

32

Prepayments and other receivables — related
parties

  Name of Related Party  Relationship  Nature   September 30,  2025    March 31,  2025   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Other receivables  $161,826   $—   PJMG LLC  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Prepayments   75,000    120,000   Prepayments and other receivables – related parties        $236,826   $120,000  

During the six months ended September 30,
2025, the Company advanced $161,826 to Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over 50% of
the equity interest. The amount is unsecured, non-interest bearing and repayable on demand.

On April 1, 2023, the Company agreed to retain
the services of PJMG, a company in which Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, holds over 50% of
the equity interests as a consultant following the completion of its IPO. PJMG was engaged to provide compliance consulting services
related to accounting, finance, and management, as well as to oversee market planning and development, follow-on fundraising, and investor
relationship management originally from June 2024 to May 2025, further extended to September 2025. The service fee is $45,000 for the
first month and from the second month the fees will be $15,000 per month.

Long-term prepayment for software development
– a related party

  Name of Related Party  Relationship  Nature  September 30,