Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 44

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 March 31, 2025 amounted to $153,087 and $94,983 , respectively.
Significant components of DTAs (DTLs), net are as follows:

    As of  June 30, 2025  
    As of  March 31,  2025 
  
    Net operating loss carry forwards 
    $738,792  
    $1,506,378 
  
    Inventory reserve 
     431,000  
     410,000 
  
    Operating lease liabilities 
     3,349,000  
     4,837,000 
  
    Amortization difference 
     21,000  
     10,000 
  
    Total deferred tax assets (DTAs) 
     4,539,792  
     6,763,378 
  
    Valuation allowance 
     (974,000) 
     (1,714,000)
  
    Deferred tax assets, net of valuation allowance 
    $3,565,792  
    $5,049,378 

    Accumulated depreciation 
     (325,705) 
     (460,395)
  
    Operating lease right-of-use assets 
     (3,087,000) 
     (4,494,000)
  
    Total deferred tax liabilities (DTLs) 
     (3,412,705) 
     (4,954,395)
  
    Deferred tax assets, net 
    $153,087  
    $94,983 

    Deferred tax assets (liabilities) – U.S., net 
    $—  
    $— 
  
    Deferred tax assets – Canada, net 
    $153,087  
     94,983 

As of June 30, 2025 and March
31, 2025, the Company had approximately $3.6 million and $5.0 million, respectively, in the DTAs, which respectively included approximately
$0.7 million and $1.5 million related to net operating loss carryforwards that can be used to offset taxable income in future periods,
approximately $3.3 million and $4.8 million related to operating lease liabilities, and approximately $0.4 million and
$0.4 million related to inventory reserve.

As of June 30, 2025 and March 31, 2025