Company: ARAI
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0001641172-25-013826
Chunk: 26

Company: Arrive AI Inc.
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 the Company’s common stock began trading on the Nasdaq Global Market under the ticker “ARAI”.

Closing
of Equity Line of Credit

On
May 15, 2025, the Company closed a financing agreement with an investor. Per the terms of the agreement, the investor transferred $4,000,000
as the initial pre-paid advance. Shares to be issued under the share purchase agreement are included on a resale registration statement
filed with the SEC.

New
Independent Board Member

On June 2, 2025, the Company named Laurie
Tucker as a new independent member of the Board of Directors. Ms. Tucker will serve an initial three-year term and also be the Chairperson
of the Compensation Committee.

 - 24 - 

Results
of Operations

Comparison
of the Three Months Ended March 31, 2025, and March 31, 2024

    Three Months Ended 
March 31,  
    $  
    % 

    2025  
    2024  
    Change  
    Change 

    GENERAL AND ADMINISTRATIVE EXPENSES 

    Salaries and wages - office 
    $1,583,937  
    $498,401  
    $1,085,536  
     218%
  
    Legal and professional fees 
     200,201  
     174,916  
     25,285  
     14 
  
    Research and development 
     91,263  
     88,401  
     2,862  
     3 
  
    Licensing fee 
     30,000  
     30,000  
     -  
     - 
  
    Office supplies and software 
     22,154  
     26,741  
     (4,587) 
     (17)
  
    Insurance 
     20,137  
     19,027  
     1,110  
     6 
  
    Rent 
     17,550  
     13,150  
     4,400  
     33 
  
    Taxes and licenses 
     9,651  
     23,193  
     (13,542) 
     (58)
  
    Depreciation and amortization 
     7,391  
     7,255