Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 127

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 Company
started to use part of the ERP system which was valued at $2,310,000 and treated that part as computer hardware and software and started
for depreciation. As of June 30, 2025 and March 31, 2025, the Company had a prepayment of $nil and $136,580, respectively, to DFT (see
Note 13 – Long-term prepayment for software development – a related party).       (ii) In October 2024, the Company started to offer rental services through its subsidiaries, GOBIKE INC, in New York, FLYLA INC, in Log Angeles, and FLYTORONTO CORP., in Toronto. The rental term is from one hour to one month. In New York, the Company offers a single model of E-Bike for rent, FLY 11 PRO GOFLY as of the date of this report. In Log Angeles, the Company offers 31 types of E-Bikes and E-scooters for rent, including FLY AIR2, FLY TANK, and FLY 11 PRO. In Toronto, the Company offers three types of E-Bikes for rent, FLY 7, FLY 11, and FLY 11 PRO. 

19

6 — INTANGIBLE ASSETS, NET

Intangible assets as of June 30, 2025 and March 31, 2025 consisted of the following:

    June 30,  2025  
    March 31,  2025 
  
    Property rights 
    $92,604  
    $92,604 
  
    GO FLY App 
     500,000  
     500,000 
  
    Total Intangible assets 
     592,604  
     592,604 
  
    Less: Accumulated Amortization 
     (94,054) 
     (66,739)
  
    Intangible assets, net 
    $498,550  
    $525,865 

For the three months ended June 30, 2025 and 2024, the amortization expenses were $27,315
and $951, respectively.

7 — ACCRUED EXPENSES AND OTHER PAYABLES

    June 30,  2025  
    March 31,  2025 
  
    Accrued payroll 
    $59,955  
    $