Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 107

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 107
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, has been established to carry out duties conferred on it under the Act No.
6698 and follows the latest developments in the legislation and practices, including making evaluations and recommendations and conducting
research and investigations regarding implementation and breaches of Act No. 6698. We are also subject to the Electronic Communication
Act numbered 5809, which governs the Internet law specifically related to the electronic communication market. Information Technologies
and Communication Authority regulates and monitors the market for compliance with the Electronic Communication Act No. 5809. The Information
Technologies and Communication Authority also (i) has the authority to grant licenses to operate in the electronic communication sector
(ii) supervises whether the operators procure the services in accordance with the Electronic Communication Act No. 5809, (iii) imposes
fines and penalties for noncompliance with the Electronic Communication Act No. 5809 and (iv) makes/amends the regulations in respect
of electronic communication market.

For a discussion of risks relating to
regulation, see the section titled “ Risk Factors  -   Risks Related to Legal Matters and
Regulations  -   Action by governmental authorities to restrict access to our products and services in their
localities could substantially harm our business and financial results,” and “ - Our business is subject to a wide
range of laws and regulations, many of which are evolving, and failure to comply with such laws and regulations could adversely
affect its business, financial condition, and results of operations.”

Seasonality

We experience seasonality in differing levels
across different services and different operating regions. Typically, the second and third quarters of our fiscal year experience increased
usage due to favorable weather conditions in the markets that we operate. Unexpected weather events, including those driven by climate
change or other factors can have a material impact on our business.

Seasonality affects our services differently.
Ride-hailing services exhibit varying degrees of seasonality depending on the type of vehicle used. While car-hailing and taxi-hailing
services experience relatively stable demand throughout the year, motorcycle-hailing is more affected by cold and extreme weather conditions
due to its open-air nature. Usage of motorcycle-hailing services tends to decline in winter months and during periods of heavy rain or
adverse weather, whereas car-hailing and taxi-hailing remains more resilient, as users continue to require transportation regardless of
external conditions.

Two-wheeled electric vehicle operations are more
sensitive to seasonal and weather conditions, with higher demand during warmer months