Issue 001 | U.S. Pilot | US

FLYE

Fly-E Group, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-04-21 Filing currency: USD

Open Filing Back to Register Report a correction

Internal NCAV Discount 56.1%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets: 20,667,986USD
Total Liabilities: 12,964,336USD
NCAV: 7,703,650USD
Cash: n/a
NCAV per share: 4.72USD/share
Evidence: 2 annual | 8 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Not captured in this issue’s Mary run.

This archived issue is not backfilled with observations from a later screening run.

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible in the details.

business_profile_v1

Business profile: 0 of 12 fields established by the current extractor.

Business Profile Field Details

Business Description

Missing Source

Not established by the current extractor from the selected filing context.

Revenue Model

Missing Source

Not established by the current extractor from the selected filing context.

Customers And Channels

Missing Source

Not established by the current extractor from the selected filing context.

Segments And Geography

Missing Source

Not established by the current extractor from the selected filing context.

Tangible Operations Assets

Missing Source

Not established by the current extractor from the selected filing context.

Value Chain

Missing Source

Not established by the current extractor from the selected filing context.

Competition Positioning

Missing Source

Not established by the current extractor from the selected filing context.

Business Lifecycle Cyclicality

Missing Source

Not established by the current extractor from the selected filing context.

Strategy And Capital Allocation

Missing Source

Not established by the current extractor from the selected filing context.

Management Governance Signals

Missing Source

Not established by the current extractor from the selected filing context.

Disclosed Risks

Missing Source

Not established by the current extractor from the selected filing context.

Known Unknowns

Missing Source

Not established by the current extractor from the selected filing context.

Business Profile Sources

Source	Filing	Date	Type	Status	Provenance
S1	0001213900-26-080973	2026-07-23	10-K	Verified	Data Vault \| sec/cleaned/cik=0001975940/accession=0001213900-26-080973/parser=html-cleaner-v1/full.txt

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis Normalized to latest verified split basis As reported in each filing

Metric	2025-12-31 10-Q Open filing	2025-09-30 10-Q Open filing	2025-06-30 10-Q Open filing	2025-03-31 10-K Open filing	2024-12-31 10-Q Open filing	2024-09-30 10-Q Open filing	2024-06-30 10-Q Open filing	2024-03-31 10-K Open filing
Period-end Shares Outstanding	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	1200
Weighted-average Basic Shares	1,632,3911,632,391	162,784813,922	33,4846,696,779	24,1054,821,010	122,93824,587,500	122,93824,587,500	113,18122,636,250	110,00022,000,000
Weighted-average Diluted Shares	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	n/an/a	110,00022,000,000	110,00022,000,000
Basic EPS	-6-6	-7-7	-0-0	-1-1	-0-0	-0-0	-0-0	00
Diluted EPS	-6-6	n/an/a	n/an/a	n/an/a	-8-8	n/an/a	n/an/a	n/an/a
Basic-to-Diluted Share Difference	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	Insufficient evidence	-2.8%	0.0%
Net Share Count Change	902.8%	386.2%	38.9%	-80.4%	0.0%	8.6%	2.9%	Insufficient evidence
Ownership Claim Change	-90.0%	-79.4%	-28.0%	410.0%	0.0%	-7.9%	-2.8%	Insufficient evidence

Verified split events: reverse 110.0 on 2024-04-02; reverse 2.0 on 2025-09-15; reverse 20.0 on 2025-11-04; reverse 5.0 on 2025-12-31

Known Unknowns

Only 8 quarterly periods available from Data Vault for this company.

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric	2025-03-31 10-K USD	2024-03-31 10-K USD
Revenue	25,427,163	32,205,666
Operating Income	-4,559,966	3,260,557
Net Income	-5,291,159	1,895,222
Cash From Operations	-10,059,466	4,308,920
Capex	-1,634,174	-38,032
Free Cash Flow	-11,693,640	4,270,888
Cash And Equivalents	840,102	1,403,514
Accounts Receivable	466,187	212,804
Inventory	6,397,274	5,364,060
Total Current Assets	14,000,516	8,136,208
Total Assets	33,706,675	28,976,334
Total Current Liabilities	12,701,375	7,794,816
Total Liabilities	23,873,343	22,194,512
Shareholders Equity	9,833,332	6,781,822
Shares Outstanding	90,484	122,938
Shares Outstanding Diluted	n/a	n/a
Weighted Avg Shares Diluted	241,050	110,000
Weighted Avg Shares Basic	241,050	110,000
Net Share Count Change (Normalized)	-80.4%	Insufficient evidence
Ownership Claim Change (Normalized)	410.0%	Insufficient evidence

Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 8 quarterly periods available from Data Vault for this company.

Metric	2025-12-31 10-Q USD	2025-09-30 10-Q USD	2025-06-30 10-Q USD	2025-03-31 10-K USD	2025-03-31 10-K USD	2024-12-31 10-Q USD	2024-09-30 10-Q USD	2024-06-30 10-Q USD
Revenue	2,649,141	3,908,862	5,328,198	5,051,321	5,051,321	5,678,010	6,824,406	7,873,426
Operating Income	-1,557,008	-1,048,423	-1,504,775	-2,343,129	-2,343,129	-940,279	-1,231,059	-45,499
Net Income	-1,923,440	-1,776,125	-2,008,648	-3,284,316	-3,284,316	-684,487	-1,142,848	-179,508
Cash From Operations	-6,263,511	-2,423,495	-5,284,034	-645,477	-645,477	-1,844	-4,889,981	-4,522,164
Capex	-25,185	96,963	-141,624	-15,884	-15,884	-42,354	-1,224,412	-351,524
Free Cash Flow	-6,288,696	-2,326,532	-5,425,658	-661,361	-661,361	-44,198	-6,114,393	-4,873,688
Cash And Equivalents	295,674	2,538,076	2,334,288	840,102	840,102	1,367,248	1,274,935	4,467,868
Total Current Assets	20,667,986	16,753,352	16,757,538	14,000,516	14,000,516	12,844,667	13,170,914	13,870,967
Total Liabilities	12,964,336	16,331,709	20,054,671	23,873,343	23,873,343	24,114,347	24,340,275	20,227,819
Shares Outstanding	1,632,386	326,477	94,485	4,917,500	245,875	122,938	122,938	122,938
Shares Outstanding Diluted	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Weighted Avg Shares Diluted	1,632,391	162,784	334,839	4,821,010	4,821,010	122,938	122,938	113,181
Weighted Avg Shares Basic	1,632,391	162,784	334,839	4,821,010	4,821,010	122,938	122,938	113,181
Net Share Count Change (Normalized)	902.8%	386.2%	38.9%	-80.4%	-80.4%	0.0%	8.6%	2.9%
Ownership Claim Change (Normalized)	-90.0%	-79.4%	-28.0%	410.0%	410.0%	0.0%	-7.9%	-2.8%

Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input	Value	Source concept	Filing period	Confidence	Provenance
Current Assets	20,667,986USD	us-gaap:AssetsCurrent	2025-12-31	1.00	Data Vault \| sec/companyfacts/cik=0001975940/companyfacts.json Data Vault \| sec/companyfacts/cik=0001975940/companyfacts.json
Total Liabilities	12,964,336USD	us-gaap:Liabilities	2025-12-31	1.00	Data Vault \| sec/companyfacts/cik=0001975940/companyfacts.json Data Vault \| sec/companyfacts/cik=0001975940/companyfacts.json
Cash	295,674USD	us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2025-12-31	1.00	n/a
Shares Outstanding	1,632,386	us-gaap:CommonStockSharesOutstanding	2025-12-31	1.00	Data Vault \| sec/companyfacts/cik=0001975940/companyfacts.json Data Vault \| sec/companyfacts/cik=0001975940/companyfacts.json
NCAV	7,703,650USD	derived	2025-12-31	n/a	company-evidence-v1 \| total_current_assets - total_liabilities
NCAV per share	4.72USD	derived	2025-12-31	n/a	company-evidence-v1 \| NCAV / shares_outstanding
Internal NCAV Discount	56.1%	derived	2025-12-31	n/a	gnni_publication_pack \| internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source: Data Vault
Data Vault Root: Local evidence | The Data Vault
CIK: 0001975940
Company ID: n/a
Selected Annual Source: Data Vault | sec/companyfacts/cik=0001975940/companyfacts.json
Selected Quarterly Source: Data Vault | sec/companyfacts/cik=0001975940/companyfacts.json
Statement Extractor: companyfacts-screener-v1
View Extractor: companyfacts-screener-v1
Source Accession Count: 9
Imported At: 2026-08-15T12:52:00+00:00
Rendered At: 2026-08-16T03:29:38+00:00

Run Audit

Mary Run: 7597e71d9e0c42a48d3fa1ce89682485
Mary As Of: 2026-07-11
Accession: 0001213900-26-046242
CIK: 0001975940
Mary Filing Date: 2026-04-21
Filing Currency: USD
Internal Discount: 56.1%
Source State: Verified
Market Context: Not Displayed
Market Policy: internal_only_not_redistributed
Share Trend: Not Evaluated
Dilution: Needs Review

mary_run=7597e71d9e0c42a48d3fa1ce89682485; mary_as_of=2026-07-11; mary_filing_date=2026-04-21; mary_accession=0001213900-26-046242; mary_cik=0001975940; gnni_supporting_filing_date=2026-04-21; internal_discount=0.561372; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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