Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 191

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 191
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:------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Beginning balance |     | $ |      514,021 |   |     | $ |      431,363 |   |
| Addition          |     |   |      678,157 |   |     |   |      287,946 |   |
| Write off         |     |   |     (256,147 | ) |     |   |     (316,278 | ) |
| Ending Balance    |     | $ |      936,030 |   |     | $ |      403,031 |   |

As of December 31, 2024 and March 31, 2024, the
inventory allowance balance was $ and $, respectively. For the nine months ended December 31, 2024 and 2023, the impairment
loss was $ and $, respectively.

F-50

4 - PREPAYMENTS AND OTHER RECEIVABLES

Prepayments and other current assets as of December 31, 2024 and March
31, 2024 consisted of the following:

|                                        |     |   | December 31, 
         2024 |     |   | March 31, 
      2024 |
|:---------------------------------------|:----|:--|-------------:|:----|:--|----------:|
| Prepaid rent                           |     | $ |       70,766 |     | $ |   179,792 |
| Prepayments to vendors                 |     |   |    1,580,417 |     |   |   143,018 |
| Prepaid iCloud Server                  |     |   |            - |     |   |     1,747 |
| Prepaid insurance                      |     |   |      293,294 |     |   |   237,207 |
| Prepaid income tax                     |     |   |       86,705 |     |   |         - |
| Prepayments to other service providers |     |   |      275,510 |     |   |    26,896 |
| Total Prepayment and Other Receivables |     | $ |    2,306,692 |     | $ |   588,660 |

As of December 31, 2024 and March 31, 2024, the
prepayments to vendors were