Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2005

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 9C
Chunk 2005
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.442.4845 ● Fax 646.349.5200 ●
www.marcumasia.com

F-2

CONSOLIDATED FINANCIAL STATEMENTS 

FLY-E GROUP, INC.

CONSOLIDATED BALANCE SHEETS 

(Expressed in U.S. dollars, except for the
number of shares)

    March 31,  2025  
    March 31,  2024 
  
    ASSETS 

    Current Assets 

    Cash 
    $840,102  
    $1,403,514 
  
    Accounts receivable 
     466,187  
     212,804 
  
    Accounts receivable, net – related parties 
     37,465  
     326,914 
  
    Inventories, net 
     6,397,274  
     5,364,060 
  
    Prepayments and other receivables 
     3,676,986  
     588,660 
  
    Prepayments and other receivables – related parties 
     120,000  
     240,256 
  
    Assets held for sale 
     2,462,502  
     — 
  
    Total Current Assets 
     14,000,516  
     8,136,208 
  
    Property and equipment, net 
     7,287,213  
     1,755,022 
  
    Security deposits 
     728,450  
     781,581 
  
    Deferred IPO costs 
     —  
     502,198 
  
    Deferred tax assets, net 
     94,983  
     35,199 
  
    Operating lease right-of-use assets 
     10,933,068  
     16,000,742 
  
    Intangible assets, net 
     525,865  
     36,384 
  
    Long-term prepayment for property 
     —  
     450,000 
  
    Long-term prepayment for software development– related parties 
     136,580  
     1,279,000 
  
    Total Assets 
    $33,706,675  
    $28,976,334 

    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    Current Liabilities 

    Accounts payable 
    $