Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 152

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 152
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 $ |   588,660 |     | $ |   782,819 |

F-20

FLY-E GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 5 — PROPERTY AND EQUIPMENT, NET Property and equipment as of March 31, 2024 and 2023 consisted of the following:

|                                   |     |   | March 31, 
      2024 |   |     |   | March 31, 
      2023 |   |
|:----------------------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Furniture & Fixtures              |     | $ |   400,558 |   |     | $ |   113,485 |   |
| Machinery & Equipment             |     |   |   212,317 |   |     |   |   103,684 |   |
| Automobile                        |     |   |   306,607 |   |     |   |   242,633 |   |
| Leasehold improvements            |     |   |   976,870 |   |     |   |   575,134 |   |
| Construction in progress-Software |     |   |   275,000 |   |     |   |         — |   |
| Property and Equipment            |     |   | 2,171,352 |   |     |   | 1,034,936 |   |
| Less: Accumulated depreciation    |     |   |  (416,330 | ) |     |   |  (249,651 | ) |
| Property and Equipment, net       |     | $ | 1,755,022 |   |     | $ |   785,285 |   |

For the years ended March 31, 2024 and 2023, the depreciation expenses were $272,708 and $145,783, respectively. In December 2023, the Company engaged DFT, a related party, for certain technology services, for example ERP system. The total contract price for the technology services provided will be up to $2.5 million, which will be payable in installments as per the milestones outlined. The final delivery of the ERP system is scheduled for May 10, 2025, subject to adjustments mutually agreed upon by the parties in response to any changes in project scope or unforeseen delays. As of March 31