Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 17

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 vendors, prepaid expenses paid to service providers, prepaid taxes, advances to employees,
and other deposits. Management regularly reviews the aging of such balances and changes in payment and realization trends and records
allowances when management believes that the collection of amounts due is at risk. Accounts considered uncollectable are written off against
allowances after exhaustive efforts at collection are made. As of June 30, 2025 and March 31, 2025, no allowance for credit losses provided
  against prepayments and other
receivables was recorded.

10

(j) Property and Equipment, Net  

Property and equipment are stated at cost less accumulated depreciation and any recorded
impairment.

The estimated useful lives are as follows:

    Furniture and fixtures
     
    5 years
  
    Machinery and equipment
     
    5 years
  
    Automobile
     
    5 years
  
    Leasehold improvements
     
    3 – 10 years (shorter of lease term or useful lives)
  
    Buildings
     
    30 years
  
    Computer hardware and software
     
    10 years
  
    Properties used for rental business
     
    2 years

Depreciation on property and equipment is calculated on the straight-line method over the
estimated useful lives of the assets. The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated
from the accounts and any gain or loss is included in the consolidated statements of operations. Expenditures for maintenance and repairs
are charged to earnings as incurred, while additions, renewals, and betterments, which are expected to extend the useful life of assets,
are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant
revised estimates of useful lives.

(k) Intangible Assets

Intangible asset is stated at cost less accumulated amortization and amortized in a method
which reflects the pattern in which the economic benefits of the intangible asset are expected to be consumed or otherwise used up. The
balance of intangible asset represents internal use software and property rights. The software is acquired externally tailored to the
Company’s requirements. The Company capitalizes the costs associated with design, development, acquisition and maintenance of its
acquired intangible assets and amortizes these assets over their remaining useful lives on a straight-line basis. Any further payments
made to maintain or develop these assets would be capitalized and amortized over the balance of the useful