Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 168

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 168
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ended June 30, 2025 and 2024:

    For the Three
    Months Ended  June 30, 

    2025  
    2024 
  
    Net
    Cash Used in Operating Activities 
    $(5,284,034) 
    $(4,522,164)
  
    Net Cash
    Used in Investing Activities 
     (408,632) 
     (1,066,130)
  
    Net
    Cash Provided by Financing Activities 
     7,171,615  
     8,653,972 
  
    Net
    changes in cash including cash classified within current assets held for sale 
    $1,478,949  
    $3,065,678 

Operating Activities

Net cash used in operating activities for the
three months ended June 30, 2025 was $5.3 million, which was due to net loss of $2.0 million, an increase in accounts receivable
of $0.6 million, a decrease in accounts payable of $0.9 million, a decrease in operating lease liabilities of $0.8 million, a decrease
in accrued expenses and other payables of $0.3 million, and an increase in prepayments and other receivables of $2.0 million, partially
offset by amortization of right-of-use assets of $0.8 million, depreciation expenses of $0.2 million, and additional inventories reserve
of $0.2 million provided during the quarter.

Net
cash used in operating activities for the three months ended June 30, 2024 was $4.5 million, which was due to net loss of $0.2
million, a decrease in tax payable of $0.4 million, and a decrease in accrued expenses and other payables of $0.5 million, an
increase in inventories of $0.9 million, a decrease in account payable of $0.8 million, a decrease in operating lease liabilities of
$0.6 million, an increase in prepayments for operation services to a related party of
$0.2 million and an increase in prepayments and other receivables of $2.1 million, partially offset by amortization of right-of-use
assets of $0.8 million and a decrease in accounts receivables - a related party of
$0.3 million.

Investing Activities

Net