Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2146

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 10
Chunk 2146
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31,  2025  
    March 31,  2024 
  
    Batteries 
    $2,084,890  
    $1,009,228 
  
    Electric Vehicles 
     3,070,224  
     2,634,643 
  
    Tires 
     482,364  
     687,927 
  
    Accessories 
     1,867,365  
     1,546,283 
  
    Inventories 
     7,504,843  
     5,878,081 
  
    Inventory reserves 
     (1,107,569) 
     (514,021)
  
    Inventories, net 
    $6,397,274  
    $5,364,060 

Movements of inventory reserves are as follows:

    March 31,  2025  
    March 31,  2024 
  
    Beginning balance 
    $514,021  
    $431,363 
  
    Addition 
     870,589  
     456,209 
  
    Write off 
     (277,041) 
     (373,551)
  
    Ending Balance 
    $1,107,569  
    $514,021 

As of March 31, 2025 and 2024, the inventory allowance
balance was $1,107,569 and $514,021, respectively. For the years ended March 31, 2025 and 2024, the impairment loss was $870,589 and $456,209,
respectively.

F-19

4 — PREPAYMENTS AND OTHER RECEIVABLES

Prepayments and other current assets as of March
31, 2025 and 2024 consisted of the following:

    March 31,  2025  
    March 31,  2024 
  
    Prepaid rent 
    $157,683  
    $179,792 
  
    Prepayments to vendors (i) 
     2,353,105  
     143,018 
  
    Prepaid iCloud Server 
     —  
     1,747 
  
    Prepaid insurance 
     214,111  
     237,207 
  
    Prepayments to other service providers 
     269,693  
     26,896 
  
    Prepaid