Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 0

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
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Item 1. Financial Statements

FLY-E GROUP, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 

(Expressed in U.S. dollars, except for the
number of shares)

    December 31,  2024  
    March 31,  2024 
  
    ASSETS 

    Current Assets 

    Cash 
    $1,367,248  
    $1,403,514 
  
    Accounts receivable 
     305,157  
     212,804 
  
    Accounts receivable – related parties 
     88,885  
     326,914 
  
    Inventories, net 
     8,605,628  
     5,364,060 
  
    Prepayments and other receivables 
     2,306,692  
     588,660 
  
    Prepayments and other receivables – related parties 
     171,057  
     240,256 
  
    Total Current Assets 
     12,844,667  
     8,136,208 
  
    Property and equipment, net 
     7,232,689  
     1,755,022 
  
    Security deposits 
     851,994  
     781,581 
  
    Deferred IPO costs 
     —  
     502,198 
  
    Deferred tax assets, net 
     895,206  
     35,199 
  
    Operating lease right-of-use assets 
     14,318,422  
     16,000,742 
  
    Intangible assets, net 
     560,125  
     36,384 
  
    Long-term prepayment for property 
     —  
     450,000 
  
    Long-term prepayment for software development– related parties 
     536,580  
     1,279,000 
  
    Total Assets 
    $37,239,683  
    $28,976,334 

    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    Current Liabilities 

    Accounts payable 
    $1,277,716  
    $1,180,796 
  
    Short-term loan payables 
     4,909,982  
     — 
  
    Current portion of long