Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 126

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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 – to third-party buyers for a total cash consideration of $60,207, with no contingent payments or adjustments. In June 2025, the Company received $27,000 from the buyers. As of June 30, 2025, the remaining consideration due from such buyers was $33,207 (See Note - 14 — DISPOSAL OF SUBSIDIARIES).   As of June 30, 2025 and March 31, 2025, the Company had other receivables of $15,677 and $29,074 from a third-party individual, respectively. 

18

5 — PROPERTY AND EQUIPMENT, NET

Property and equipment as of June 30, 2025 and March 31, 2025 consisted of the following:

    June 30,  2025  
    March 31,  2025 
  
    Furniture and Fixtures 
    $372,039  
    $400,080 
  
    Machinery and Equipment 
     212,015  
     230,015 
  
    Automobile 
     670,465  
     669,902 
  
    Leasehold improvements 
     400,151  
     683,595 
  
    Building 
     3,663,215  
     3,663,215 
  
    Computer hardware and software (i) 
     2,500,000  
     2,310,000 
  
    Properties for rental business (ii) 
     243,776  
     193,963 
  
    Property and Equipment 
     8,061,661  
     8,150,770 
  
    Less: Accumulated depreciation 
     (935,416) 
     (863,557)
  
    Property and Equipment, net 
    $7,126,245  
    $7,287,213 

For the three months ended June 30, 2025 and 2024, the depreciation expenses were $212,792
and $95,051, 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