Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 171

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 8
Chunk 171
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 (benefit) for income taxes is
based on the following pretax loss:

    For the Six Months Ended  September 30, 

    2025  
    2024 
  
    U.S. 
    $(3,632,527) 
    $(1,394,039)
  
    Canada 
     (162,493) 
     (21,807)
  
    Total 
    $(3,795,020) 
    $(1,415,846)

26

For the three months ended September 30, 2025,
the total pre-tax loss was approximately $1.7 million, which included approximately $1.7 million pre-tax loss in the U.S. and approximately
$2,258 pre-tax income in Canada. For the three months ended September 30, 2024, the total pre-tax loss was $1.3 million, which included
$1.3 million pre-tax loss in the U.S. and $14,582 pre-tax loss in Canada. For the six months ended September 30, 2025, the total pre-tax
loss was approximately $3.8 million, which included approximately $3.6 million pre-tax loss in the U.S. and approximately $0.2 million
pre-tax loss in Canada. For the six months ended September 30, 2024, the total pre-tax loss was $1.4 million, which included $1.4 million
pre-tax loss in the U.S. and $21,807 pre-tax loss in Canada.

The following table reconciles the Company’s
effective tax rate:

     For the Six Months Ended  September 30,      2025   2024   Pre-tax book loss  $(3,795,020)  $(1,415,846)  Federal Statutory rate   21.0%   21.0%  State income tax rate, net of federal income tax benefit   6.0%   4.1%  City income tax rate, net of federal income tax benefit   6.0%   3.8%  Foreign statutory rate   0.2%   0.1%  Permanent differences   1.0%   (10.2)%  Valuation allowance of deferred tax assets   (33.4)%   —   Return