Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 190

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 15
Chunk 190
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ITEM 15. CONTROLS AND PROCEDURES

  Disclosure Controls and Procedures  

We maintain disclosure controls and procedures
(as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that
information required to be disclosed in our reports under the Exchange Act is recorded, processed, summarized and reported within the
time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management,
including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding required disclosures.

Any controls and procedures, no matter how well
designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Our management, with the participation
of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of our disclosure
controls and procedures as of December 31, 2024. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded
that, as a result of the material weaknesses in our internal control over financial reporting described below, our disclosure controls
and procedures were not effective as of December 31, 2024.

  Management’s Annual Report on Internal Control over Financial Reporting  

Our management is responsible for
establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under
the Exchange Act). Our internal control over financial reporting is designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. Our management evaluated the design and operating effectiveness of the Company’s internal
control over financial reporting based on the criteria established in the Internal Control-Integrated Framework (2013) issued
by the Committee of Sponsoring Organizations of the Treadway Commission.

Our internal control over financial reporting
includes policies and procedures that:

  pertain to the maintenance of records that in                                                                    

  provide reasonable assurance that transactions                                                                                                 

  provide reasonable assurance regarding prevention                                                                                 

Under the supervision and with the participation
of our management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness
of our internal control over financial reporting as of December 31, 2024. Based on this evaluation, our management concluded that we did
not maintain effective internal control over financial reporting as of December 31, 2024 given the