Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 216

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 216
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 provided during the quarter.

Net
cash used in operating activities for the three months ended June 30, 2024 was $4.5 million, which was due to net loss of $0.2
million, a decrease in tax payable of $0.4 million, and a decrease in accrued expenses and other payables of $0.5 million, an
increase in inventories of $0.9 million, a decrease in account payable of $0.8 million, a decrease in operating lease liabilities of
$0.6 million, an increase in prepayments for operation services to a related party of
$0.2 million and an increase in prepayments and other receivables of $2.1 million, partially offset by amortization of right-of-use
assets of $0.8 million and a decrease in accounts receivables - a related party of
$0.3 million.

Investing Activities

Net cash used
in investing activities was $0.4 million for the three months ended June 30, 2025, which was due to purchase of properties and equipment
of $0.1 million, advance to a related party of $0.2 million, and cash released from disposal of entities of
$0.1 million.

42

Net cash used in investing activities was $1.1 million
for the three months ended June 30, 2024, which was due to prepayment made for purchase of software from a related party of
$0.8 million, prepayments for property rights of $0.1 million, and the purchase of equipment of $0.4 million, partially offset
by the repayment from a related party of $0.2 million. 

Financing Activities

Net
cash provided by financing activities was $7.1 million for the three months ended June 30, 2025, which consisted of net proceeds
from our follow-on public offering of $6.4 million, and loan proceeds of $1.9 million, partially offset by repayments of loans
of $0.6 million and payment of public offering costs of $0.5 million.

Net cash provided by financing activities was
$8.7 million for the three months ended June 30, 2024, which consisted of net proceeds of the IPO of $9.2 million,
and loan proceeds of $0.2 million, partially offset by repayments of loans of $