Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 285

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 2
Chunk 285
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 For the six months ended September 30, 2025
and 2024, the interest expenses on our loans amounted to $1.1 million and $91,877, respectively. See Note 8 to the Unaudited Condensed
Consolidated Financial Statements included within this quarterly report for further information on details of our outstanding loans.

The following table summarizes our cash flow data
for the six months ended September 30, 2025 and 2024:

    For the Six Months Ended  September 30, 

    2025  
    2024 
  
    Net Cash Used in Operating Activities 
    $(7,707,529) 
    $(9,412,145)
  
    Net Cash Used in Investing Activities 
     (452,040) 
     (2,845,468)
  
    Net Cash Provided by Financing Activities 
     9,803,019  
     12,126,060 
  
    Net changes in cash including cash classified within current assets held for sale 
    $1,643,450  
    $(131,553)

Operating Activities

Net cash used in operating activities for the
six months ended September 30, 2025 was $7.7 million, which was due to net loss of $3.8 million, a decrease in accounts payable
of $0.7 million, a decrease of accrued expenses and other payables of $0.8 million, an increase in accounts receivable of $1.0 million,
an increase in inventory of $1.1 million, an increase in prepayments and other receivables of $1.4 million, and decrease in operating
lease liabilities of $2.7 million partially offset by amortization of right-of-use assets of $2.7 million,  depreciation expenses
of $0.4 million, and inventories impairment loss of $0.6 million provided during the six months ended September 30, 2025.

Net cash used in operating activities for the
six months ended September 30, 2024 was $9.4 million, which was due to net loss of $1.3 million, a decrease in tax payable of
$1.5 million, and a decrease in accrued expenses and other payables of $0.4 million, an increase in inventories of $3.6 million,
a decrease in account payable of $0.8