Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 82

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 82
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 expenses following
completion of the Business Combination. These expenses may increase to a greater extent if we no longer qualify as an “emerging
growth company,” as defined in Section 2(a) of the Securities Act. The Exchange Act requires, among other things, that we file
annual and current reports with respect to our business and operating results. The Sarbanes-Oxley Act requires, among other things, that
we maintain effective disclosure controls and procedures and internal control over financial reporting. We may need to hire more employees
or engage outside consultants to comply with these requirements, which will increase our costs and expenses.

Changing laws, regulations, and standards relating
to corporate governance and public disclosure are creating uncertainty for public companies, increasing legal and financial compliance
costs and making some activities more time-consuming. These laws, regulations, and standards are subject to varying interpretations, in
many cases due to their lack of specificity, and, as a result, their application in practice may evolve over time as new guidance is provided
by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated
by ongoing revisions to disclosure and governance practices. We expect these laws and regulations to increase our legal and financial
compliance costs after the Business Combination and to render some activities more time-consuming and costly, although we are currently
unable to estimate these costs with any degree of certainty.

Our management team has limited experience managing
a publicly traded company, interacting with public company investors and complying with the increasingly complex laws pertaining to public
companies. Our management team may not successfully or efficiently manage the transition to being a public company subject to significant
regulatory oversight and reporting obligations under the federal securities laws and regulations and the continuous scrutiny of securities
analysts and investors. The need to establish the corporate infrastructure demanded of a public company may divert the management’s
attention from implementing our growth strategy, which could prevent us from improving our business, financial condition, and results
of operations. Furthermore, we expect these rules and regulations to make it more difficult and more expensive for us to obtain director
and officer liability insurance, and consequently we may be required to incur substantial costs to maintain the same or similar coverage.
These additional obligations could have a material adverse effect on its business, financial condition, results of operations, and prospects.
These factors could also make it more difficult for us to attract and retain qualified members of our board of directors, particularly
to serve on our audit committee and qualified executive officers.

As a result of the