Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 7

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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    Cash flows from operating activities 

    Net (loss) income 
    $(2,006,843) 
    $1,207,888 
  
    Adjustments to reconcile net (loss) income   to net cash (used
    in) provided by   operating activities: 

    Depreciation expense 
     310,910  
     203,788 
  
    Amortization expense 
     30,831  
     782 
  
    Deferred income taxes (benefits) expenses 
     (860,007) 
     225,506 
  
    Amortization of operating lease right-of-use assets 
     2,404,092  
     1,798,832 
  
    Inventories reserve 
     678,157  
     287,946 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     (92,353) 
     (198,720)
  
    Accounts receivable – related parties 
     238,029  
     (230,149)
  
    Inventories 
     (3,985,343) 
     (1,827,543)
  
    Prepayments and other receivables 
     (1,772,605) 
     (310,727)
  
    Prepayments for operation services to related parties 
     (105,000) 
     — 
  
    Security deposits 
     (70,413) 
     (395,867)
  
    Accounts payable 
     96,920  
     2,287,560 
  
    Accrued expenses and other payables 
     (492,920) 
     233,082 
  
    Operating lease liabilities 
     (2,257,028) 
     (1,651,005)
  
    Taxes payable 
     (1,530,416) 
     112,614 
  
    Net cash (used in) provided by operating activities 
     (9,413,989) 
     1,743,987 

    Cash flows from investing activities 

    Purchases of equipment 
     (1,618,290) 
     (503,772)
  
    Purchase of software from a related party 
     (500,000) 
     — 
  
    Prepayment for purchasing software from a related party