Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 115

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1
Chunk 115
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 material changes to the Company’s business plans and could have a material adverse effect on the Company’s
ability to continue as a going concern and results of operations. The consolidated financial statements have been prepared on a going
concern basis, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The consolidated
financial statements do not include any adjustments that might result from the outcome of such uncertainties.

2 — SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES

(a) Basis of Presentation

The accompanying consolidated financial statements
of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (the “U.S. GAAP”)
and regulations of the Securities Exchange Commission (the “SEC”).  

(b) Principles of Consolidation

The consolidated financial statements include
the financial statements of the Company and its subsidiaries over which the Company exercises control and, when applicable, entities for
which the Company has a controlling financial interest. All transactions and balances among the Company and its subsidiaries have been
eliminated upon consolidation.

(c) Segment Information

The Company’s chief operating decision-makers
(“CODM”) (i.e., chief executive officer and his direct reports) review financial information presented on a consolidated basis,
accompanied by disaggregated information about revenues by different revenues streams for purposes of allocating resources and evaluating
financial performance. The Company and its subsidiaries offer E-bikes, E-motorcycles, E-scooters and other items and services in its stores.
The Company’s retail operating divisions are geographically based, have similar economic characteristics and similar expected long-term
financial performance. Because substantially all of the Company’s long-lived assets and revenues are located in and derived from
the U.S., geographical segments are not presented. The Company’s operating segments are reported in one reportable segment. There
are no segment managers who are held accountable for operations, operating results and plans for levels or components below the consolidated
unit level. Based on qualitative and quantitative criteria established by Accounting Standards Codification (“ASC”) 280, “Segment
Reporting”, the Company considers itself to be operating within one reportable segment. The Company has concluded that consolidated
net (loss) income is the measure of segment profitability. The CODM assesses performance for the Company, monitors budget versus actual
results, and determines how to allocate resources based on consolidated net (loss) income as reported in the consolidated statements of
operations and other comprehensive (loss) income