Company: ARAI
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0001641172-25-013826
Chunk: 16

Company: Arrive AI Inc.
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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7,096, respectively.

     - 15 - 

ARRIVE
                                            AI INC. 

(FORMERLY
ARRIVE TECHNOLOGY INC.)

NOTES
TO FINANCIAL STATEMENTS (Continued)

7. PREPAID EXPENSES

Prepaid
expenses and other current assets consist of the following:

SCHEDULE OF PREPAID
EXPENSES AND OTHER CURRENT ASSETS

    March
    31, 2025  
    December
    31, 2024 
  
    Prepaid
    payroll wages 
    $38,271  
    $38,271 
  
    Prepaid
    insurance 
     5,562  
     10,017 
  
    Prepaid
    software and other 
     4,953  
     7,579 

    TOTAL
    PREPAID EXPENSES 
    $48,786  
    $55,867 

8. DEFERRED OFFERING COSTS

Pursuant
to ASC 340-10-S99-1, costs directly attributable to an offering of equity securities are deferred and would be charged against the gross
proceeds of the offering as a reduction of additional paid-in capital. Deferred offering costs consist of underwriting, legal, accounting,
and other expenses incurred through the balance sheet date that are directly related to the proposed public offering. Should the proposed
public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be expensed. The
Company filed its S-1 Registration Statement on December 23, 2024 and an amended S-1/A on January 27, 2025. The Company is working to
resolve all remaining inquiries before the registration can become effective. During the three months ended March 31, 2025, the Company
issued 532,913 shares of common stock in exchange for investment banking advisory services, which was recorded as deferred offering costs.

9. PATENTS, NET

Patents
consist of the following:

SCHEDULE OF PATENTS 

    March
    31, 2025  
    December
                                                                                                                         31, 2024 

    Patents 
    $274,700  
    $274,700 
  
    Total
    patents 
     274,700  
     274,700 
  
    Less:
    accumulated amortization 
     (1,401)