Company: ARAI
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0001641172-25-013826
Chunk: 36

Company: Arrive AI Inc.
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 2
Chunk 36
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 percent (100%) of the company’s currently issued and outstanding common stock.

Initial
Trading on Nasdaq Global Market

On
May 15, 2025, the Company’s common stock began trading on the Nasdaq Global Market under the ticker “ARAI”.

Closing
of Equity Line of Credit

On
May 15, 2025, the Company closed a financing agreement with an investor. Per the terms of the agreement, the investor transferred $4,000,000
as the initial pre-paid advance. Shares to be issued under the share purchase agreement are included on a resale registration statement
filed with the SEC.

New
Independent Board Member

On June 2, 2025, the Company named Laurie
Tucker as a new independent member of the Board of Directors. Ms. Tucker will serve an initial three-year term and also be the Chairperson
of the Compensation Committee.

 - 24 - 

Results
of Operations

Comparison
of the Three Months Ended March 31, 2025, and March 31, 2024

    Three Months Ended 
March 31,  
    $  
    % 

    2025  
    2024  
    Change  
    Change 

    GENERAL AND ADMINISTRATIVE EXPENSES 

    Salaries and wages - office 
    $1,583,937  
    $498,401  
    $1,085,536  
     218%
  
    Legal and professional fees 
     200,201  
     174,916  
     25,285  
     14 
  
    Research and development 
     91,263  
     88,401  
     2,862  
     3 
  
    Licensing fee 
     30,000  
     30,000  
     -  
     - 
  
    Office supplies and software 
     22,154  
     26,741  
     (4,587) 
     (17)
  
    Insurance 
     20,137  
     19,027  
     1,110  
     6 
  
    Rent 
     17,550  
     13,150  
     4,400  
     33 
  
    Taxes and licenses 
     9,651  
     23,193