Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 187

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 8
Chunk 187
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 and financial results.

As
of March 31, 2025, the Company had classified the assets and liabilities of the subsidiaries that were sold on after March 31, 2025 as
held for sale in accordance with ASC 360-10. The classification criteria were met when the management committed to a plan to sell. 

Summarized Held for Sale Financial Information

A summary of the carrying amounts of major classes
of assets and liabilities, which are included in assets and liabilities held for sale in the consolidated balance sheet, is as follows:

    September 30,  2025  
    March 31,  2025 
  
    ASSETS 

    Cash 
    $—  
    $61,548 
  
    Inventories, net 
     —  
     195,192 
  
    Prepayments and other receivables 
     —  
     22,096 
  
    Property and equipment, net 
     —  
     154,876 
  
    Security deposits 
     —  
     73,025 
  
    Operating lease right-of-use assets 
     —  
     1,955,765 
  
    Assets held for sale 
    $—  
    $2,462,502 

    LIABILITIES 

    Short-term loan payables 
    $—  
    $25,498 
  
    Operating lease liabilities – current 
     —  
     319,874 
  
    Operating lease liabilities – non-current 
     —  
     1,807,075 
  
    Liabilities held for sale 
    $—  
    $2,152,447 

15
— SUBSEQUENT EVENTS 

There were no significant events affecting
the Company nor any of its subsidiaries after the end of the financial period and up to the date of this report requiring disclosure
in this report.

36

Item 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations   

The following discussion of our financial condition and results of
operations should be read in conjunction with the unaudited condensed consolidated financial statements and the notes thereto included
in this quarterly report. The following discussion contains forward-looking statements. Actual results could differ materially from the
results discussed in the forward-looking statements. See “Item 1A. Risk Factors” and “Cautionary Note Regarding Forward-Look