Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 155

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 155
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 $ 0.01per share and 40shares of preferred stock having a par value of $ 0.01per share. There were 200shares of common stock were issued and outstanding prior to the effectiveness of the stock split. On March 27, 2024, the Company’s board of directors approved a 1-for-110,000stock split of the Company’s capital stock. The stock split became effective on April 2, 2024. The par value of the Company’s common stock remained unchanged at $ 0.01per share, and the number of authorized shares of the Company’s capital stock was increased from 440to 48,400,000, with the number of authorized shares of common stock and preferred stock being increased from 400to 44,000,000and from 40to 4,400,000, respectively. As of March 31, 2024 and 2023, the subscription receivable represents the unpaid capital contribution of $ 219,998by the stockholders. During the year ended March 31, 2024, Mr. Ou paid certain vendors of the Company to settle certain accounts payable balance on behalf the Company. On June 30, 2023, the Company transferred $ 2.26million, a portion of the accounts payable balance, along with a cash contribution of $ 0.14million from Mr. Zhou Ou as capital contribution (see Note 13). As of March 31, 2024, a total of $ 2.4million were transferred and recorded as capital contribution (see Note 13). 10 - INCOME TAX (a) Income Tax Expense The company conduct business both domestically and internationally and, as a result, the parent company and most of its subsidiaries file a consolidated income tax return in U.S. federal, U.S. states and U.S. Cities, and one of the subsidiaries files a foreign income tax return in certain foreign jurisdictions. The Company will file a consolidated annual U.S. federal tax return for tax year ending March 31, 2024, as well as combined tax returns for New Jersey, New York State, Florida, Massachusetts, Maryland, California, District of Columbia, and New York City. Most subsidiaries of the Company were incorporated in the State of New York and are subject to the U.S. federal corporate income taxes with a tax rate of 21.0%. The State of New York levies a corporate income tax rate of 8.45% on state