Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2349

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 12
Chunk 2349
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    GO FLY App 
     500,000  
     — 
  
    Total Intangible assets 
     592,604  
     38,032 
  
    Less: Accumulated Amortization 
     (66,739) 
     (1,648)
  
    Intangible assets, net 
    $525,865  
    $36,384 

For the years ended March 31, 2025 and 2024, the
amortization expenses were $65,091 and $1,648, respectively.

In July 2024, the Company engaged DFT, a former
related party, to develop a new APP, GO FLY APP, for the rental business. The total contract price for the GO FLY APP is $500,000, and
the GO FLY APP was delivered on September 5, 2024.

7 — ACCRUED EXPENSES AND OTHER PAYABLES

    March 31,  2025  
    March 31,  2024 
  
    Accrued payroll 
    $62,068  
    $121,120 
  
    Advances from customers 
     28,144  
     25,099 
  
    Advances from IGH Holding Inc 
     49,000  
     49,000 
  
    Accrued warranty 
     20,131  
     27,714 
  
    Payroll tax and sales tax payable 
     113,601  
     245,226 
  
    Accrued store expenses 
     58,044  
     21,975 
  
    Accrued IPO offering cost 
     —  
     225,000 
  
    Accrued freight in cost 
     35,980  
     107,255 
  
    Accrued UL penalty(i) 
     1,000,000  
     — 
  
    Accrued professional fee 
     —  
     103,000 
  
    Accrued Expenses and Other Current Liabilities 
    $1,366,968  
    $925,389 

  (i) See Note 12 — Commitments and contingencies  

F-21

8 — LOAN PAYABLE

A summary of the Company’s loans is listed
as follows:

  Lender  Due Date  March 31,