Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 210

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 210
---
 rules
and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated
financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess
the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
consolidated financial statements. Our auditsalso included evaluating the accounting principles used and significant estimates
made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits
provide a reasonable basis for our opinion.

/s/ KPMG Bağımsız Denetim ve SMMM A.Ş

We served as the Group’s auditor from 2020 to 2024.

Istanbul, Turkiye

April 16, 2024

F-3

MARTI TECHNOLOGIES, INC. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS AT DECEMBER 31

(Amounts expressed in US$ unless otherwise indicated.)

                                                      December 31,                         December 31,                    
                                                      2024                                         2023                    
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                                   
  Current assets                                                                                                           
  Cash and cash equivalents                                                 5,148,857                          19,424,059  
  Accounts receivable, net                                                    203,522                             188,358  
  Inventories                                                               2,030,244                           2,612,011  
  Operating lease right of use assets                                              --                             223,646  
  Other current assets                                                      4,035,397                           3,247,640  
  Total current assets                                                     11,418,020                          25,695,714  
  Non-current assets                                                                                                       
  Property, equipment and deposits, net                                     5,493,171                          13,531,475  
  Operating lease right of use assets                                         837,348                             800,093  
  Intangible assets                                                           589,588                             183,887  
  Other non-current assets                                                  2,040,522                                  --  
  Total non-current assets                            $