Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 7

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 1
Chunk 7
---
,
    2024 
     —  
    $—  
     245,875  
    $2,459  
    $10,987,440  
    $(219,998) 
    $(10,855) 
    $3,073,293  
    $13,832,339 

  * Shares and per share data are presented on a retroactive basis to reflect the 1-for-110,000 stock split completed on April 2, 2024, the 1-for-5 reverse stock split completed on July 3, 2025 and the 1-for-20 reverse stock split completed on November 4, 2025. 

The accompanying notes are an integral part of
these unaudited condensed consolidated financial statements. 

4

FLY-E GROUP, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS 

(Expressed in U.S. dollars, except for the
number of shares)

    For the Six Months Ended September 30, 

    2025  
     2024 
  
    Cash flows from operating activities 

    Net loss 
    $(3,784,773) 
    $(1,322,356)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Loss on disposal of property and equipment 
     68,188  
     — 
  
    Gain on disposal of subsidiaries 
     (64,452) 
     — 
  
    Depreciation expense 
     417,258  
     180,910 
  
    Amortization expense 
     54,761  
     8,846 
  
    Deferred income taxes benefits 
     (42,251) 
     (462,740)
  
    Amortization of operating lease right-of-use assets 
     2,699,632  
     1,676,991 
  
    Inventories impairment loss 
     569,758  
     330,823 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     (1,031,989) 
     (154,034)
  
    Accounts receivable – a related party 
     5,435  
     235,029 
  
    Inventories 
     (1,107,359)