Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 10

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 10
---
 generate meaningful revenue from driver
subscription packages remains unproven and is subject to a number of challenges.

Unlike traditional commission-based models, our
monetization strategy relies on user-paid subscription packages. This may limit driver supply, as some drivers may be less willing to
participate on the platform without per-ride commissions, potentially reducing the number of rides available to users.

If we are unable to attract and retain a
sufficient number of high-quality drivers, our ride-hailing service may fail to scale or generate meaningful revenue from driver
subscription packages. Further, if our monetization efforts alienate drivers, or if competitors adopt more effective pricing or
commission strategies, we may lose market share.

Failure to monetize our ride-hailing business
with driver subscription packages as planned could result in operating losses and have a material adverse effect on our business,
financial condition, and results of operations.

We may acquire other businesses, which could
require significant management attention, disrupt our business, dilute shareholder value, and adversely affect our operating results.

As part of our business strategy, we may purchase
the stock or assets of other entities. We continue to evaluate a wide array of potential strategic transactions, including the acquisition
of businesses, new technologies, services, and other assets, and strategic investments that complement our business.

Acquisitions involve numerous risks which could
harm our business and negatively affect our financial condition and results of operations. There is intense competition for suitable acquisition
targets, which could increase acquisition costs and adversely affect our ability to consummate deals on favorable or acceptable terms.
There is no assurance that the time and resources invested in pursuing a particular acquisition will result in a completed transaction,
or that any completed transaction will ultimately be successful. Furthermore, if we complete acquisitions, we may not ultimately strengthen
our competitive position or achieve our goals, and our ability to bring to market successful products and services could be limited. In
addition, acquisitions we complete may not translate into successful business opportunities, and we may not realize the anticipated benefits
or synergies of any such transaction. If we fail to successfully integrate our past or future acquisitions, or the technologies associated
with such acquisitions, our revenue and operating results could be adversely affected. Each integration process requires significant time
and resources, and we might not be able to manage the process successfully. We might not successfully evaluate or utilize the acquired
technology or other assets or accurately forecast the financial impact of an acquisition transaction, including accounting charges. We
may also encounter difficulties in retaining key