Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 5

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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 April 2, 2024 and the 1-for-5 reverse stock split
completed on July 3, 2025.

The accompanying notes are an integral part of
these unaudited condensed consolidated financial statements. 

3

FLY-E GROUP, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS 

(Expressed in U.S. dollars, except for the
number of shares)

    For the Three Months Ended June 30, 

    2025  
    2024 
  
    Cash flows from operating activities 

    Net loss 
    $(2,008,648) 
    $(179,508)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Loss on disposal of property and equipment 
     68,188  
     — 
  
    Depreciation expense 
     212,792  
     95,051 
  
    Amortization expense 
     27,315  
     951 
  
    Deferred income taxes benefits 
     (42,861) 
     (59,099)
  
    Amortization of operating lease right-of-use assets 
     828,458  
     798,044 
  
    Inventories reserve 
     229,780  
     176,072 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     (605,435) 
     (159,112)
  
    Accounts receivable – a related party 
     —  
     279,172 
  
    Inventories 
     (63,902) 
     (901,095)
  
    Prepayments and other receivables 
     (1,974,220) 
     (2,065,536)
  
    Prepayments for operation services to a related party 
     45,000  
     (180,000)
  
    Security deposits 
     2,148  
     (23,854)
  
    Accounts payable 
     (853,177) 
     (774,347)
  
    Accrued expenses and other payables 
     (345,649) 
     (503,291)
  
    Operating lease liabilities 
     (803,823) 
     (626,205)
  
    Taxes payable