Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 417

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1B
Chunk 417
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 estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable
market values. As of March 31, 2025 and 2024, no impairment of long-lived assets was recognized.

(m) Deferred IPO Costs

The Company complies with the requirements of
FASB ASC Topic 340-10-S99-1, “Other Assets and Deferred Costs — SEC Materials” (“ASC 340-10-S99”)
and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering”. Deferred IPO costs consist of underwriting, legal,
accounting and other professional expenses incurred through the balance sheet date that are directly related to the initial public offering
of the Company and that will be charged to additional paid in capital upon the completion of the offering. Total deferred offering
cost of $502,198 as of March 31, 2024 was charged to additional paid-in capital upon IPO.

(n) Fair Value Measurements

Fair value is defined as the price that would
be received for an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date.
Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. When determining the fair value
measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and
consider assumptions that market participants would use when pricing the asset or liability. The following summarizes the three levels
of input required to measure fair value, of which the first two are considered observable and the third is considered unobservable:

    Level-1
    —
    Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

    Level-2
    — 
    Include other inputs that are directly or indirectly observable in the marketplace.

    Level-3
    — 
    Unobservable inputs which are supported by little or no market activity.

The fair value for certain assets and liabilities
such as cash, accounts receivable, other receivables, prepayments and other current assets, short-term loans, accounts payable, contract
liabilities, accrued expenses and other payables, and tax payables have been determined to approximately carrying amounts due to the short
maturities of these instruments. The Company believes that its long-term loan to a third party approximates the fair value based on current
yields for debt instruments with similar terms. The Company and its subsidiaries did not