Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 18

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 life for the assets. The estimated
useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in the estimate
being accounted for on a prospective basis.

The estimated useful lives of intangibles assets are as follows:

    Property rights 
    5-20 years
  
    Software 
    5 years

11

(l) Impairment of Long-lived Assets

At the end of each reporting period, the Company reviews the carrying amounts of its property
and equipment, intangible assets subject to depreciation and amortization, and right-of-use assets, to determine whether there is any
indication that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on
the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future
cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than
the carrying value of the asset. If an impairment is identified, the Company will reduce the carrying amount of the asset to its estimated
fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. As of June 30,
2025 and March 31, 2025, no impairment of long-lived assets was recognized.

(m) 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