Company: ARAI
Filing Date: 2025-07-15
Form Type: S-1/A
Source: 0001641172-25-019572
Chunk: 71

Company: Arrive AI Inc.
Filing Date: 2025-07-15
Form: S-1/A
Chunk 71
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 closing the direct listing. These payroll taxes were accrued in salaries and wages.

All other general and administrative expenses,
in total, were lower by $23,082 due to reduced discretionary spend in all areas.

Comparison of the years ended December 31, 2024 and December 31, 2023

As of December 31, 2024, the Company had cash of $129,318 compared to $325,472 as of December 31, 2023. Since its inception, the Company has incurred net losses and funded its operations primarily through the issuance of equities. As of December 31, 2024, the Company had a total stockholders’ deficit of $(983,175) compared to $(477,766) as of December 31, 2023.

The Company has incurred recurring losses from operations, and as of December 31, 2024, had an accumulated deficit of $15,920,555 (2023: $11,382,654) and a working capital of $(1,343,143) (2023: ($743,666)). The Company’s continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. The Company has developed plans to raise funds and continues to pursue sources of funding that management believes, if successful, would be sufficient to support the Company’s operation. During the period ended December 31, 2024, the Company raised $2,643,626 (net of offering costs) through Common Stock issuances. The Company has also raised $1,696,810 in 2023 and $1,150,490 in 2022 (net of offering costs). The Company’s operating plan is predicated on a variety of assumptions including, but not limited to, the level of product demand, cost estimates, its ability to continue to raise additional financing and the state of the general economic environment in which the Company operates. There can be no assurance that these assumptions will prove accurate in all material respects, or that the Company will be able to successfully execute its operating plan. In the event that the Company is not able to raise capital from investors in a timely manner, the Company will explore available options, including but not limited to, an equity backed loan. In the absence of additional appropriate financing, the Company may have to modify its plan or slow down the pace of development and commercialization.

The Company does not have any short or long-term contractual purchases with suppliers for future purchases, capital expenditure