Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 0

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
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ITEM 3. KEY INFORMATION

  [Reserved]  
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  Capitalization and Indebtedness  
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Not applicable.

  Reasons for the Offer and Use of Proceeds  
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Not applicable.

  Risk Factors  
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Our business faces significant risks and uncertainties.
You should carefully consider all of the information set forth in this Annual Report and in the other documents we file with or furnish
to the SEC, including the following risk factors, before deciding to invest in or to maintain an investment in our securities. Our business,
financial condition or results of operations could be materially and adversely affected by any of these risks, any of which could have
an adverse effect on the trading price of our securities. Additional risks not presently known to us or that we currently deem immaterial
may also impair our business, financial condition and results of operations.

Risks Related to Our Business and Industry

We have a relatively short operating history
and a new and evolving business model, which makes it difficult to evaluate our future prospects, forecast financial results and assess
the risks and challenges we may face.

Our business model is relatively new and rapidly
evolving. We were founded in 2018 to offer technology-enabled urban transportation services across Türkiye. We launched our two-wheeled
electric vehicles operations in 2019, car-hailing and motorcycle-hailing operations in October 2022, and added taxi-hailing to our ride-hailing
services in February 2024.

We have encountered in the past, and will encounter
in the future, risks and uncertainties frequently experienced by growing companies with limited operating histories in rapidly changing
industries. Risks and challenges we have faced or expect to face as a result of our relatively limited operating history and evolving
business model include our ability to:

  make operating decisions and evaluate our future          
  prospects and the risks and challenges we may encounter;  
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  forecast our revenue and budget for and manage  

  attract new drivers and riders and retain existing  

  comply with existing and new or modified laws  

  manage our software platform and our business  

  maintain and enhance the value of our reputation  

  effectively manage our growth and business operations;  

  successfully expand our geographic reach in markets    

  hire, integrate and retain talented people at  

  successfully develop new features, products and   

  plan for and manage