Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 142

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 142
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 31, 2024, construction in progress was $275,000 and primarily relating to the cost incurred to develop the software from DFT. (k) Definite -LivedIntangible Assets The Company owns property rights of certain technologies and designs that relate to the Underwriter Laboratories certificates issued for its products. The Company capitalizes the costs associated with design, development, acquisition and maintenance of its acquired property rights and amortizes these assets over their remaining useful lives on a straight -linebasis. Any further payments made to maintain or develop the property rights would be capitalized and amortized over the balance of the useful life for the property rights. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in the estimate being accounted for on a prospective basis. The estimated useful lives of intangibles assets are as follows:

| Property rights |     | 5-20 years |

(l) Impairment of Long -livedAssets At the end of each reporting period, the Company reviews the carrying amounts of its property, plant and equipment, intangible assets subject to amortization, and right -of-useassets, to determine whether there is any indication that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss

F-14

FLY-E GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company will reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. As of March 31, 2024 and 2023, no impairment of long -livedassets was recognized. (m) Deferred IPO Costs The Company complies with the requirements of FASB ASC Topic 340 -10-S99-1, “Other Assets and Deferred Costs — SEC Materials” (“ASC 340 -10-S99”) and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering”. Deferred IPO costs consist of underwriting, legal, accounting and other professional expenses incurred through the