Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 124

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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    Inventory reserves 
     (1,189,455) 
     (1,107,569)
  
    Inventories, net 
    $5,943,790  
    $6,397,274 

Movements of inventory reserves are as follows:

    For the Three Months Ended
June 30, 

    2025  
    2024 
  
    Beginning balance 
    $1,107,569  
    $514,021 
  
    Addition 
     229,780  
     176,072 
  
    Write off 
     (147,894) 
     (131,930)
  
    Ending Balance 
    $1,189,455  
    $558,163 

As of June 30, 2025 and March 31, 2025, the inventory allowance balance was $1,189,455
and $1,107,569 respectively. For the three months ended June 30, 2025 and 2024, the impairment loss was $229,780 and $176,072, respectively.

17

4 — PREPAYMENTS AND
OTHER RECEIVABLES

Prepayments
and other receivables   as
of June 30, 2025 and March 31, 2025 consisted of the following:

    June 30,  2025  
    March 31,  2025 
  
    Prepaid rent 
    $159,495  
    $157,683 
  
    Prepayments to vendors (i) 
     3,947,312  
     2,353,105 
  
    Prepaid insurance 
     155,481  
     214,111 
  
    Prepayments to other service providers 
     957,664  
     269,693 
  
    Prepaid income tax 
     68,191  
     18,127 
  
    Other receivable from third parties (ii) 
     962,649  
     664,267 
  
    Total Prepayment and Other Receivables 
    $6,250,792  
    $3,676,986 

  (i) As of June 30, 2025 and March 31, 2025, the prepayments to vendors were approximately $3.9 million and $2.4 million, respectively. The increase in