Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2622

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 15
Chunk 2622
---
31,  2025  
    March 31,  2024 
  
    Beginning balance 
    $514,021  
    $431,363 
  
    Addition 
     870,589  
     456,209 
  
    Write off 
     (277,041) 
     (373,551)
  
    Ending Balance 
    $1,107,569  
    $514,021 

As of March 31, 2025 and 2024, the inventory allowance
balance was $1,107,569 and $514,021, respectively. For the years ended March 31, 2025 and 2024, the impairment loss was $870,589 and $456,209,
respectively.

F-19

4 — PREPAYMENTS AND OTHER RECEIVABLES

Prepayments and other current assets as of March
31, 2025 and 2024 consisted of the following:

    March 31,  2025  
    March 31,  2024 
  
    Prepaid rent 
    $157,683  
    $179,792 
  
    Prepayments to vendors (i) 
     2,353,105  
     143,018 
  
    Prepaid iCloud Server 
     —  
     1,747 
  
    Prepaid insurance 
     214,111  
     237,207 
  
    Prepayments to other service providers 
     269,693  
     26,896 
  
    Prepaid income tax 
     18,127  
     — 
  
    Other receivable from third parties (ii) 
     664,267  
     — 
  
    Total Prepayment and Other Receivables 
    $3,676,986  
    $588,660 

  (i) As of March 31, 2025 and 2024, the prepayments to vendors were $2.4 million and $0.1 million, respectively. The increase in prepayments to vendors was primarily due to the Company’s anticipation of growth in future sales and rental services. The Company plans to purchase more E-vehicles and related accessories from oversea and U.S. vendors to support the expansion in retail and rental markets. These prepayments to vendors are expected to be settled by the end of October 2025.       (ii)