Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 160

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 8
Chunk 160
---
 $204,466 and $85,859, respectively. For the six months ended September 30, 2025 and 2024, the
depreciation expenses were $417,258 and $180,910, respectively.

  (i) In December 2023, the Company engaged DFT, a former related party, for certain technology services, such as ERP system. The total contract price for the ERP system is $2,500,000. The ERP system is fully completed and delivered on May 20, 2025. During the fiscal year of 2025, the Company started to use part of the ERP system which was valued at $2,310,000 and treated that part as computer hardware and software and started for depreciation. As of September 30, 2025 and March 31, 2025, the Company had a prepayment of $nil and $136,580, respectively, to DFT (see Note 13 – Long-term prepayment for software development – a related party).       (ii) In October 2024, the Company started to offer rental services through its subsidiaries, GOBIKE INC, in New York, FLYLA INC, in Log Angeles, and FLYTORONTO CORP., in Toronto. The rental term is from one hour to one month. In New York, the Company offers a single model of E-Bike for rent, FLY 11 PRO GOFLY as of the date of this report. In Log Angeles, the Company offers 31 types of E-Bikes and E-scooters for rent, including FLY AIR2, FLY TANK, and FLY 11 PRO.      

6 — INTANGIBLE ASSETS, NET

Intangible assets as of September 30, 2025 and
March 31, 2025 consisted of the following:

    September 30,  2025  
    March 31,  2025 
  
    Property rights 
    $108,081  
    $92,604 
  
    GO FLY App 
     500,000  
     500,000 
  
    Total Intangible assets 
     608,081  
     592,604 
  
    Less: Accumulated Amortization 
     (121,500) 
     (66,739)
  
    Intangible assets, net 
    $486,581  
    $525,