Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 32

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 32
---
 our business, results of operations, and prospects.

We may encounter pricing regulations imposed
by government entities or municipalities, as well as related litigation or regulatory inquiries.

Our revenue from our services depends on the pricing
models we currently use or may adopt in the future to calculate subscription package fees, rider fares, and driver commissions and incentives.
We may continue to utilize online software systems or artificial intelligence for region-based dynamic pricing. However, similar dynamic
pricing models have frequently faced challenges, bans, caps, or limitations, particularly during emergency conditions in certain countries
or regions worldwide. We may encounter similar challenges and be subject to government- or municipality-mandated fare or fee caps in specific
cities or regions. Additionally, we may face litigation and regulatory scrutiny. These challenges may result in additional costs, reduce
or restrict our revenue growth, and potentially decrease the value of our business, leading to a material adverse effect on our business,
results of operations, and prospects.

We have announced our sustainability targets
which may require substantial effort, resources, and management time to achieve. However, unforeseen circumstances, some beyond our control,
could necessitate adjustments to our planned timelines for fulfilling these commitments.

Our sustainability targets include achieving net-zero
Scope 1 and 2 emissions and net-zero inbound logistics operations by 2030 (Scope 3). Achieving the targets may require significant investment
of effort, resources, and management time. However, factors such as epidemics, changing regulations and policies, technological advancements
(e. g., battery storage and charging stations), accessibility to electric vehicles (“ EVs”) by drivers, and the convenience
and costs of EV charging stations may present unforeseen challenges beyond our control.

Additionally, as we expand into new business sectors
and geographies, such as ride-hailing, delivery services, and financial services, we may need to adjust our calculation methods or operational
scopes included in these sustainability calculations.

Failure to comply with climate-related regulations,
meet our announced sustainability targets within the agreed timeframe, or achieve them at all could negatively impact our reputation and
have a material adverse effect on our business, results of operations, and prospects.

Our ability to continue as a going concern
depends on our capacity to secure sufficient funding to finance our operations due to our history of recurring losses and anticipated
expenditures.

Our audited financial statements for the fiscal
year ended December 31, 2024, 2023 and 2022 were prepared assuming that we will continue as a going concern. The going concern basis of