Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 197

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 197
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, and Mr. Ke Zhang, the Company’s Chief Human Resource Officer, provided a guarantee on this loan. To secure        
 payment and performance of the liabilities, Fly-E Group granted Peapack-Gladstone Bank a continuing lien on and security interest in       
 all assets of the Company, including accounts, chattel paper, documents, instruments, inventory, general intangibles, equipment, fixtures, 
 deposit accounts, goods, letter-of-credit rights, supporting obligations, investment property, commercial tort claims, property in the     
 Lender’s possession, additions, and proceeds of first 39 incorporated subsidiaries of the Company. From January 1 to February 19,          
 2025, the Company paid $102,492 on interest of the line of credit.                                                                         |

| (x) | On November 27, 2024, the Company’s subsidiary, AOFL                                                                                          
 LLC (the “borrower”) obtained four thirty-year long-term loans of $525,000, $560,000, $595,000, and $420,000, respectively,                   
 from Veiocity Commercial Capital, LLC (the “lender”) with an annual interest rate of 11.24%. The lender charged a total of                    
 $170,933 loan settlement fees for closing the loan which included attorney fee, escrow fee, origination fee, and so on. The Company amortized 
 the $170,933 over the loan term. To secure payment and performance of the liabilities, AOFL LLC pledged to Veiocity Commercial Capital,       
 LLC a continuing lien on and security interest in any and all deposits or other sums at any time credited by or due from lender to the        
 borrower and any cash, securities, instruments or other property of the borrower in the possession of lender. From January 1 to February      
 19, 2025, the Company paid $40,761 on principal and interest of the loan.                                                                     |

On August 13, 2024, the Company’s subsidiary, AOFL LLC, obtained a one-year short-term loan of $ from He’s Realty Holdings LLC with an annual interest rate of %. The principal amount shall be paid to He’s Realty Holdings LLC in one or more installments on or before August 11, 2025, and during the one-year borrowing period, AOFL LLC only needs to pay interest of $ to He’s Realty Holdings LLC on a monthly basis. The collateral provided was the office purchased by AOFL LLC. The loan was paid off in full on November