Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 228

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 228
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 third-party
independent appraisals, as considered necessary.

3.25 Concentrations
of credit risk

The Group’s cash and cash equivalents are
potentially subject to concentration of credit risk. The Group has not experienced any losses on its deposits of cash and cash equivalents.
Management believes that the institutions it uses are financially stable and, accordingly, minimal credit risk exists.

The Group measures assets and liabilities at fair
value based on an expected exit price, which represents the amount that would be received on the sale of an asset or paid to transfer
a liability in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants
would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for
measuring fair value on either a recurring or nonrecurring basis, whereby inputs used in valuation techniques, are assigned a hierarchical
level. The following are the hierarchical levels of inputs to measure fair value:

  Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities  

  Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not                                            

  Level 3: Unobservable inputs reflecting its own assumptions incorporated in valuation techniques                                       

Assets and liabilities measured at fair
value on a recurring basis

The carrying amounts in the Consolidated Balance
Sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values
because of the short period of time between the origination of such instruments and their expected realization and their current market
rate of interest. The Group does not have any other material assets or liabilities that are recognized at fair value on a recurring basis.

F-20

MARTI TECHNOLOGIES, INC. AND ITS SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2024

(Amounts expressed in US$
unless otherwise stated.)

3 - 
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND USE OF ESTIMATES (Continued)

3.25 Concentrations
of credit risk (Continued)

Assets measured at fair value on a non-recurring
basis

The Group’s non-financial assets, such as
intangible assets, and property, equipment are adjusted to fair value when an impairment charge is recognized. Such fair value measurements
are based predominantly on Level 3 inputs.

3.26 Recently