Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 176

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 176
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 the Company had a current portion of contractual obligation of approximately $ million. Management
has determined there is substantial doubt about its ability to continue as a going concern. Management plans to alleviate the going concern
risk through (i) equity financing to support the Company’s working capital; (ii) other available sources of financing (including
debt) from banks and other financial institutions; and (iii) financial support from the Company’s related parties. There is no assurance
that the Company will be successful in implementing the foregoing plans or that additional financing will be available to the Company
on commercially reasonable terms, or at all. The Company’s inability to secure needed financing when required could require material
changes to the Company’s business plans and could have a material adverse effect on the Company’s ability to continue as a
going concern and results of operations. The unaudited condensed consolidated financial statements have been prepared on a going concern
basis, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The unaudited condensed
consolidated financial statements do not include any adjustments that might result from the outcome of such uncertainties.

F-41 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (the “U.S. GAAP”) and regulations of the Securities Exchange Commission (the “SEC”). The accompanying unaudited condensed consolidated financial statements contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of 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 nine months ended December 31, 2024 are not necessarily indicative of results to be expected for any other interim period or for the full fiscal year ending March 31, 2025. 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, 2024 and 2023. (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