Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2024

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 9C
Chunk 2024
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At the end of each reporting period, the Company
reviews the carrying amounts of its property and equipment, intangible assets subject to depreciation and amortization, and right-of-use
assets, to determine whether there is any indication that the carrying value of an asset may not be recoverable. The Company assesses
the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment
loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition
of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company will reduce the carrying
amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable
market values. As of March 31, 2025 and 2024, no impairment of long-lived assets was recognized.

(m) Deferred IPO Costs

The Company complies with the requirements of
FASB ASC Topic 340-10-S99-1, “Other Assets and Deferred Costs — SEC Materials” (“ASC 340-10-S99”)
and SEC Staff Accounting Bulletin Topic 5A, “Expenses of Offering”. Deferred IPO costs consist of underwriting, legal,
accounting and other professional expenses incurred through the balance sheet date that are directly related to the initial public offering
of the Company and that will be charged to additional paid in capital upon the completion of the offering. Total deferred offering
cost of $502,198 as of March 31, 2024 was charged to additional paid-in capital upon IPO.

(n) Fair Value Measurements

Fair value is defined as the price that would
be received for an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date.
Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. When determining the fair value
measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and
consider assumptions that market participants would use when pricing the asset or liability. The following summarizes the three levels
of input required to measure fair value, of which the first two are considered observable and the third is considered unobservable:

    Level-1
    —
    Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.