Company: ARAI
Filing Date: 2025-06-17
Form Type: S-1
Source: 0001641172-25-015428
Chunk: 181

Company: Arrive AI Inc.
Filing Date: 2025-06-17
Form: S-1
Chunk 181
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                                                       |     |          | (8,674 | ) |     |          | (8,524 | ) |
| LONG-TERM                                                                                                                             
 PORTION                                                                                                                               |     | $        |  8,333 |   |     | $        | 10,558 |   |

The balance of the above debt matures as follows:

SCHEDULE OF MATURITIES OF LONG-TERM DEBT

| Twelve        
 Months Ending 
 March 31,     |     | Amount |        |
|:--------------|:----|:-------|-------:|
| 2026          |     | $      |  8,674 |
| 2027          |     |        |  8,333 |
| TOTAL         |     | $      | 17,007 |

Interest expense related to this note payable for the three months ended March 31, 2025 and 2024, was $ 321and $ 461, respectively.

11. COMMITMENTS AND CONTINGENCIES

On January 29, 2024, the Company was included in the SEC Form F-4 filed by Brüush Oral Care, Inc. (Bruush) to register the intent of the parties to merge into a new public company, per the signed Merger Agreement of December 15, 2024. Bruush failed to remedy several deficiencies cited by Nasdaq in a timely manner, and was officially de-listed from the Nasdaq exchange on or about June 28, 2024. As a direct consequence of the delisting of Bruush shares, the merger was terminated. The terms of the merger included a termination fee of $ 250,000in the event either party caused the termination. The Company assessed the collection of the termination fee as not probable, thus a receivable has not been recorded.

On March 21, 2025, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with an investor. Under the Securities Purchase Agreement, the investor agrees to purchase an amount of up to $ 40,000,000in pre-paid purchases of the Company’s common stock, $ 0.0002par value per share. The original principal amount is a $ 4,330,000pre-paid purchase with a $ 4,000,000initial purchase price and $ 320,000original issue discount. In addition, the Company agrees to pay $ 10,000to cover the investor’s transaction expenses, along with 62,500shares