Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 140

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 8
Chunk 140
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 assets and the satisfaction of liabilities in the normal course of business are dependent
on, among other things, the Company’s ability to operate profitably, to generate cash flows from operations, and its ability to
attract investors and to borrow funds on reasonable economic terms. The results of operations for the six months ended September 30,
2025 are not necessarily indicative of results to be expected for any other interim period or for the full fiscal year ending March 31,
2026. Accordingly, these statements should be read in conjunction with the Company’s audited financial statements and note thereto
as of and for the years ended March 31, 2025 and 2024.

(b) Principles of Consolidation

The unaudited condensed consolidated financial
statements include the financial statements of the Company and its subsidiaries over which the Company exercises control and, when applicable,
entities for which the Company has a controlling financial interest. All transactions and balances among the Company and its subsidiaries
have been eliminated upon consolidation.

(c) Segment Information

The Company adopted ASU No. 2023-07 (“ASU 2023-07”),
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures for the year ended March 31, 2025 and applied it retrospectively
for the prior period presented. The Company’s chief operating decision-makers (“CODM”) (i.e., chief executive officer
and his direct reports) review financial information presented on a consolidated basis, accompanied by disaggregated information about
revenues by different revenues streams for purposes of allocating resources and evaluating financial performance. The Company and its
subsidiaries offer E-bikes, E-motorcycles, E-scooters and other items and services in its stores. The Company’s retail operating
divisions are geographically based, have similar economic characteristics and similar expected long-term financial performance. Because
substantially all of the Company’s long-lived assets and revenues are located in and derived from the U.S., geographical segments
are not presented. The Company’s operating segments are reported in one reportable segment. There are no segment managers who are
held accountable for operations, operating results and plans for levels or components below the consolidated unit level. Based on qualitative
and quantitative criteria established by Accounting Standards Codification (“ASC”) 280, “Segment Reporting”,
the Company considers itself to be operating within one reportable segment. The Company has concluded that consolidated net loss is the
measure of segment