Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 194

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 194
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 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.

F-51

6 - INTANGIBLE ASSETS, NET

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

|                                |     |   | December 31, 
         2024 |   |     |   | March 31, 
      2024 |   |
|:-------------------------------|:----|:--|-------------:|:--|:----|:--|----------:|:--|
| Property rights                |     | $ |       92,604 |   |     | $ |    38,032 |   |
| GO FLY App                     |     |   |      500,000 |   |     |   |         - |   |
| Total Intangible assets        |     |   |      592,604 |   |     |   |    38,032 |   |
| Less: Accumulated Amortization |     |   |      (32,479 | ) |     |   |    (1,648 | ) |
| Intangible assets, net         |     | $ |      560,125 |   |     | $ |    36,384 |   |

For the nine months ended December 31, 2024 and
2023, the amortization expenses were $ and nil, respectively.

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

7 - ACCRUED EXPENSES AND OTHER PAYABLES

|                                                |     |   | December 31, 
         2024 |     |   | March 31, 
      2024 |
|:-----------------------------------------------|:----|:--|-------------:|:----|:--|----------:|
| Accrued payroll                                |     | $ |       42,196 |     | $ |   121,120 |
| Advances from customers                        |     |   |       26,445 |