Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 44

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 44
---
Repairing damaged or malfunctioning satellites
is currently not economically feasible. If a significant number of satellites were to become inoperable, there could be a substantial
delay before they are replaced with new satellites. A reduction in the number of operating satellites may impair the current utility of
the GPS system and the growth of current and additional market opportunities. GPS satellites and ground control segments are being modernized.
GPS modernization software updates can cause problems with GPS functionality. We depend on public access to open technical specifications
in advance of GPS updates.

GPS is operated by the U. S. government. If
U. S. policy were to change, and GPS were no longer supported by the U. S. government, or if user fees were imposed, it could have a
material adverse effect on our business, results of operations, and financial condition. As part of the services we offer, we rely
on GPS and other GNSS to track the ride-hailing riders and drivers, as well as the locations of our two-wheeled electric vehicles,
and to display these locations to riders, drivers, and our field operations team. If we were to lose access to GPS and other GNSS,
we would no longer be able to track the ride-hailing riders and drivers or the locations of our two-wheeled electric vehicles. This
would result in our inability to: (i) match riders and drivers for a ride by showing their locations, (ii) provide ride details
including the length of the ride and pricing to be agreed upon (iii) display the locations of two-wheeled electric vehicles in our
app to riders, thereby adversely impacting demand, and (iv) allow our operations team to retrieve two-wheeled electric vehicles,
thereby increasing the risk of stolen and lost vehicles. Any of these outcomes would have a material adverse impact on our financial
condition and results of operations.

Computer malware, viruses, hacking, phishing
attacks, and spamming could harm our business and results of operations.

The prevalence of computer malware, viruses, hacking,
and phishing attacks has increased in our industry and may occur on our systems or the systems of our vendors in the future. Though it
is difficult to determine what, if any, harm may directly result from any specific interruption or attack, any failure to maintain performance,
reliability, security, and availability of our products and technical infrastructure may harm our reputation and our ability to retain
existing users and attract new users. We have been targeted for phishing attempts in the past