Company: ARAI
Filing Date: 2025-01-27
Form Type: S-1/A
Source: 0001493152-25-003660
Chunk: 183

Company: Arrive AI Inc.
Filing Date: 2025-01-27
Form: S-1/A
Chunk 183
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31, 2023, have been omitted.

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates.

| F-37 |

<div align='center'>ARRIVE TECHNOLOGY INC.

(FORMERLY DRONEDEK CORPORATION)

NOTES TO FINANCIAL STATEMENTS (Continued)</div>

| 2. | SIGNIFICANT                     
 ACCOUNTING POLICIES (Continued) |

Cash

Cash is defined as currency on hand and on-demand deposits. Cash equivalents are unrestricted highly liquid cash investments purchased with a maturity of three (3) months or less. There were no cash equivalents at September 30, 2024 and December 31, 2023.

Concentration of Credit Risk

The Company maintains its cash balances at one financial institution. The account is insured by the Federal Deposit Insurance Corporation (FDIC) up to a specified limit. The Company’s balances at the financial institutions periodically exceed federally insured limits. At September 30, 2024 and December 31, 2023, the Company’s uninsured cash balances totaled approximately $42,000 and $75,000, respectively.

Management believes that the Company is not exposed to any significant risk concerning its cash balances. To date, the Company has not recognized any losses caused by uninsured balances.

Property and Equipment

The property and equipment is recorded at cost. The Company’s policy is to depreciate the cost of the property and equipment using the straight-line method over the estimated useful life of the asset. The costs of maintenance and repairs are charged to expense when incurred (none noted in the current or prior year as it relates to the vehicle). The useful life of the property and equipment for purposes of computing depreciation is:

|               |     | Useful 
 Life   |
| Vehicle       
 and Equipment |     | 3-5    
 years  |

Intangible Assets – Patents

The Company capitalizes external costs, such as filing fees, registration documentation, and attorney fees associated with the application and issuance of patents. The Company expenses costs associated