Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 6

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 6
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 and Huawei AppGallery mobile application marketplaces through which we currently distribute our mobile application
to customers. Accordingly, our business model is substantially dependent on the Apple App Store, Google Play Store, and Huawei AppGallery,
and if we were unable to offer our mobile application to customers on these platforms our business, financial condition, and results of
operations would be adversely affected.

We operate in a new and rapidly changing
industry, which makes it difficult to evaluate our business and prospects.

The market for ride-hailing and two-wheeled electric
vehicle sharing, through which we derive all of our revenue, is relatively new and rapidly evolving. The growth of this market and the
level of demand and market acceptance of our services are subject to a high degree of uncertainty. If the public does not perceive such
sharing as beneficial, or chooses not to adopt it as a result of concerns regarding safety, affordability or other factors, whether as
a result of incidents on our platform or on our competitors’ platforms or otherwise, then the markets for our ride-hailing and two-wheeled
electric vehicle sharing network may not further develop, may develop more slowly than we expect, or may not achieve the growth potential
we expect. Our future operating results will depend on numerous factors affecting the ride-hailing and two-wheeled electric vehicle sharing
industries, many of which are beyond our control, including:

  changes in consumer demographics and public tastes  
  and preferences;                                    
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  changes in the method for distribution of our  
  mobile application and products and services;  
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  regulatory agencies, national and local governments                                                                                       

  the availability and popularity of both ride-hailing  

  general economic conditions, particularly economic                                                                                    

Our ability to plan for development, distribution,
and promotional activities will be significantly affected by our ability to anticipate and adapt to relatively rapid changes in the tastes
and preferences of our current and potential riders. If the public does not perceive our business or other products and services as beneficial,
or chooses not to adopt them as a result of concerns regarding public health or safety, affordability, or for other reasons, whether as
a result of incidents on our or our competitors’ platforms, or otherwise, then the market for our products and services may not
further develop, may develop more slowly than we expect, or may not achieve the growth potential we expect, which would harm our business
and prospects. Additionally, from time to