Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 31

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1
Chunk 31
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 challenges we may encounter;

●forecast our revenue and budget for and manage our expenses;

●attract new customers and retain existing customers in a
cost-effective manner;

21

●comply with existing and new or modified laws and regulations
applicable to our business;

●manage our business assets and expenses;

●plan for and manage capital expenditures for our current
and future offerings and manage our supply chain and supplier relationships related to our current and future offerings;

●anticipate and respond to macroeconomic changes and changes
in the markets in which we operate;

●maintain and enhance the value of our reputation and brand;

●effectively manage our growth and business operations;

●successfully expand our geographic reach;

●hire, integrate and retain talented people at all levels
of our organization; and

●successfully develop new features, offerings and services
to enhance the experience of customers.

If our assumptions regarding
these risks and uncertainties, which we use to plan and operate our business, are incorrect or change, or if we do not address these risks
successfully, our results of operations could differ materially from our expectations and our business, prospects, financial condition
and operating results could be adversely affected.

There is substantial doubt about our ability
to continue as a going concern.

We believe there is substantial
doubt about our ability to continue as a going concern as of the date of this annual report. The going concern may be included in our
future reports and could materially limit our ability to raise additional funds through the issuance of new debt or equity securities
or otherwise.

As of March 31, 2025, we had
cash of $0.8 million. We had working capital of $1.3 million and $0.3 million as of March 31, 2025 and March 31, 2024,
respectively. We had net loss of $5.3 million and net income of $1.9 million for the year ended March 31, 2025 and 2024, respectively.
During the year ended March 31, 2025, net cash used in operating activities of the Company was approximately $10.1 million. As of
March 31, 2025, we had a current portion of contractual obligation of approximately $8.9 million. We plan to alleviate the going
concern risk through (i) equity financing to support the Company’s working capital; (ii) other available sources of financing
(in