Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 151

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 151
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 2024 |   |     |   | March 31, 
      2023 |
|:------------------|:----|:--|----------:|:--|:----|:--|----------:|
| Beginning balance |     | $ |   431,363 |   |     | $ |   279,985 |
| Addition          |     |   |   456,209 |   |     |   |   151,378 |
| Write off         |     |   |  (373,551 | ) |     |   |         - |
| Ending Balance    |     | $ |   514,021 |   |     | $ |   431,363 |

As of March 31, 2024 and 2023, the inventory allowance
balance was $ and $, respectively. For the years ended March 31, 2024 and 2023, the impairment loss was $ and $,
respectively.

4 - PREPAYMENTS AND OTHER RECEIVABLES

Prepayments and other current assets as of March 31, 2024 and 2023
consisted of the following:

|                                        |     |   | March 31, 
      2024 |     |   | March 31, 
      2023 |
|:---------------------------------------|:----|:--|----------:|:----|:--|----------:|
| Prepaid rent                           |     | $ |   179,792 |     | $ |    26,332 |
| Prepayments to vendors                 |     |   |   143,018 |     |   |   647,746 |
| Prepaid iCloud Server                  |     |   |     1,747 |     |   |         - |
| Prepayments to DMV                     |     |   |         - |     |   |       500 |
| Prepaid insurance                      |     |   |   237,207 |     |   |   108,241 |
| Prepayments to other service providers |     |   |    26,896 |     |   |         - |
| Total Prepayment and Other Receivables |     | $ |   588,660 |     | $ |   782,819 |

F-20

5 - PROPERTY AND EQUIPMENT, NET

Property and equipment as of March 31, 2024 and 2023 consisted of the
following:

|