Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 46

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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: 

    ROU assets 
    $8,584,684  
    $10,933,068 
  
    Total operating ROU assets 
    $8,584,684  
    $10,933,068 

    June 30,  2025  
    March 31,  2025 
  
    Operating lease obligations: 

    Current operating lease liabilities 
    $2,106,614  
    $2,617,762 
  
    Non-current operating lease liabilities 
     7,217,325  
     9,106,928 
  
    Total lease liabilities 
    $9,323,939  
    $11,724,690 

The Company had 27 and 36 leases as of June 30, 2025 and March 31, 2025, respectively.

The weighted average lease term, discount rates, and remaining lease terms for the operating
leases as of June 30, 2025 were as follows:

Remaining lease term and discount rate:

  Weighted average annual discount rate   7.3%  Weighted average remaining lease term (years)   4.34 years 

The weighted average lease term, discount rates, and remaining lease terms for the operating
leases as of March 31, 2025 were as follows:

Remaining lease term and discount rate:

  Weighted average annual discount rate   7.2%  Weighted average remaining lease term (years)   4.67 years 

The Company leases its
offices, warehouse, and retail stores under non-cancellable operating lease agreements. During the three months ended June 30, 2025,
lease expenses were $0.8 million, including $0.4 million in cost of revenues and $0.4 million in selling expense.
During the three months ended June 30, 2024, lease expenses were $1.1 million, including $0.3 million in cost of revenues,
$0.7 million in rent expense included in selling expense, and $0.1 million in rent expense included in general and
administrative expense.

27

For the three months ended June 30, 2025, the Company terminated 9 leases.

As of June 30, 2025, future minimum lease liabilities, all under office and facilities
non-cancellable operating lease agreements, were as follows:

    Twelve months ending June