Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 34

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 34
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 business strategy. Our debt may also increase our vulnerability to downturns in our business, in our industry or in the
economy as a whole and may limit our flexibility in terms of planning or reacting to changes in our business and in the industry and could
prevent us from taking advantage of business opportunities as they arise. Our business might not generate sufficient cash flow from operations
and future financing might not be available in sufficient amounts or on favorable terms to enable us to make timely and necessary payments
under the terms of our indebtedness or to fund our activities.

In addition, the terms of certain of our debt
facilities subject us to certain limitations in the operation of our business, due to restrictions on incurring additional debt and encumbrances,
carrying out corporate reorganizations, selling assets, paying dividends or making other distributions. Any debt that we incur or guarantee
in the future could be subject to additional covenants that could make it difficult to pursue our business strategy, including through
potential acquisitions or divestitures.

If we breach covenants under our outstanding
debts, we could be held in default under such loans, which could accelerate our repayment dates and adversely affect our business.

If we were to default on any of our debt, we
could be required to make immediate repayment, our other debt facilities may be cross-defaulted or accelerated, the lenders may pursue
foreclosure of our pledged assets and we may be unable to refinance our debt on favorable terms or at all, any of which would have a
material adverse effect on our business and financial position.

Any actual or perceived security or privacy
breach could interrupt our operations and adversely affect our reputation, brand, business, financial condition, and results of operations.

Our business involves the collection, storage,
processing, and transmission of users’ personal data and other sensitive data. An increasing number of organizations, including
large online and offline merchants and businesses, other Internet companies, financial institutions, and government institutions, have
disclosed breaches of their information security systems and other information security incidents, some of which have involved sophisticated
and highly targeted attacks. Because techniques used to obtain unauthorized access to or to sabotage information systems change frequently
and may not be known until launched, we may be unable to anticipate or prevent these attacks. For example, in February 2022 an unknown
actor claimed that they were able to access and obtain customer data from our servers. After notifying Türkiye’s Personal Data
Protection Authority (Kişisel Verileri Koruma Kur