Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 187

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 187
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, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 5 — PROPERTY AND EQUIPMENT, NET (cont.) In October 2024, the Company started to offer rental services through its subsidiaries, GOBIKE INC, in New York, and FLYLA INC, in Log Angeles. The rental term is from one hour to one month. In New York, the Company offers a single model of E -Bikefor rent, FLY 11 PRO GOFLY as of the date of this report. In Log Angeles, the Company offers 31 types of E -Bikesand E -scootersfor rent, including FLY AIR2, FLY TANK, and FLY 11 PRO. 6 — INTANGIBLE ASSETS, NET Intangible assets as of December 31, 2024 and March 31, 2024 consisted of the following:

|                                |     |   | December 31, 
         2024 |   |     |   | March 31, 
      2024 |   |
|:-------------------------------|:----|:--|-------------:|:--|:----|:--|----------:|:--|
| Property rights                |     | $ |       92,604 |   |     | $ |    38,032 |   |
| GO FLY App                     |     |   |      500,000 |   |     |   |         — |   |
| Total Intangible assets        |     |   |      592,604 |   |     |   |    38,032 |   |
| Less: Accumulated Amortization |     |   |      (32,479 | ) |     |   |    (1,648 | ) |
| Intangible assets, net         |     | $ |      560,125 |   |     | $ |    36,384 |   |

For the nine months ended December 31, 2024 and 2023, the amortization expenses were $30,831 and nil, respectively. In July 2024, the Company engaged DFT, a related party, to develop a new APP, GO FLY APP, for the rental business. The total contract price for the GO FLY APP is $500,000, and the GO FLY APP was delivered on September 5, 2024. 7 — ACCRUED EXPENSES