Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 178

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 178
---
 typically one day, one week or more. F-46

FLY-E GROUP, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Disaggregated information of revenues by business lines are as follows:

|                                        |     | For the Nine Months Ended 
 December 31,              |       2024 |     |   |       2023 |
|:---------------------------------------|:----|:--------------------------|-----------:|:----|:--|-----------:|
| Product revenues – retail (ASC 606)    |     | $                         | 17,708,735 |     | $ | 19,229,491 |
| Product revenues – wholesale (ASC 606) |     |                           |  2,618,146 |     |   |  4,804,906 |
| Revenues – rental services (ASC 842)   |     |                           |     48,961 |     |   |          — |
| Net revenues                           |     | $                         | 20,375,842 |     | $ | 24,034,397 |

(p) Selling Expenses Selling expenses mainly consist of advertising costs, and payroll and related expenses for personnel engaged in selling and marketing activities. Advertising expenses, which consist primarily of online and offline advertisements, are expenses when the services are received. The advertising expenses were $230,742 and $32,695 for the nine months ended December 31, 2024 and 2023, respectively. (q) Research and Development Expenses Research and development expenses include salaries for the Company’s research and development personnel, as well as related development expenses paid to the third -partydevelopment team. The Company recognizes internal use software acquired and internally developed in accordance with ASC 350 -40“Software -internaluse software”. The Company expenses all costs that are incurred in connection with the planning and implementation phases of development, and costs that are associated with maintenance of the existing software for internal use. Certain costs associated with developing internal -usesoftware are capitalized when such costs are incurred within the application development stage of software development. As a result, the Company expensed the development costs of the Fly E -Bikeapp as they incurred. For the nine months ended December 31, 2024 and 2023, development costs amounted to $434,760 and $96,880, respectively, which were recorded under general and administrative expenses