Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 196

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 196
---
-E GROUP, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 11 — LEASES The Company adopted Topic 842 for all periods presented. At the inception of a contract, the Company determines if the arrangement is, or contains, a lease. The leases of the Company mainly consisted of offices, retail stores, and warehouses. The Company’s operating right -of -use(“ROU”) assets and lease liabilities were as follows:

|                            |     |   | December 31, 
         2024 |     |   |  March 31, 
       2024 |
|:---------------------------|:----|:--|-------------:|:----|:--|-----------:|
| Operating ROU:             |     |   |              |     |   |            |
| ROU assets                 |     | $ |   14,318,422 |     | $ | 16,000,742 |
| Total operating ROU assets |     | $ |   14,318,422 |     | $ | 16,000,742 |

|                                         |     |   | December 31, 
         2024 |     |   |  March 31, 
       2024 |
|:----------------------------------------|:----|:--|-------------:|:----|:--|-----------:|
| Operating lease obligations:            |     |   |              |     |   |            |
| Current operating lease liabilities     |     | $ |    3,151,171 |     | $ |  2,852,744 |
| Non-current operating lease liabilities |     |   |   12,153,196 |     |   | 13,986,879 |
| Total lease liabilities                 |     | $ |   15,304,367 |     | $ | 16,839,623 |

The Company had 34 and 38 leases as of December 31, 2024 and March 31, 2024, respectively. The weighted average lease term, discount rates, and remaining lease terms for the operating leases as of December 31, 2024 were as follows: Remaining lease term and discount rate:

| Weighted average discount rate                |     | 6.8%       |
| Weighted average remaining lease term (years) |     | 4.79 years |

The weighted average lease term, discount rates, and remaining lease terms for the