Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 832

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 3
Chunk 832
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 August 11, 2025, and during the one-year borrowing period, AOFL LLC needs to pay interest of $9,750 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
29, 2024.       (iii) 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. 

F-20

6 — INTANGIBLE ASSETS, NET

Intangible assets as of March 31, 2025 and 2024
consisted of the following:

    March 31,  2025  
    March 31,  2024 
  
    Property rights 
    $92,604  
    $38,032 
  
    GO FLY App 
     500,000  
     — 
  
    Total Intangible assets 
     592,604  
     38,032 
  
    Less: Accumulated Amortization 
     (66,739) 
     (1,648)
  
    Intangible assets, net 
    $525,865  
    $36,384 

For the years ended March 31, 2025 and 2024, the
amortization expenses were $65,091 and $1,648, respectively.

In July 2024, the Company engaged DFT, a former
related party, to develop a new APP, GO FLY APP, for the rental business. The total contract price for the GO FLY APP is $500,000, and
the GO FLY APP was delivered on September 5, 2024.

7 — ACCRUED EXP