Company: ARAI
Filing Date: 2025-01-27
Form Type: S-1/A
Source: 0001493152-25-003660
Chunk: 181

Company: Arrive AI Inc.
Filing Date: 2025-01-27
Form: S-1/A
Chunk 181
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Upon completion of the Merger, the outstanding shares of Target Company’s common stock, will be exchanged for common shares of PubCo representing upon issuance, 94.5% of PubCo’s issued and outstanding common shares on a fully diluted basis. The legacy shareholders of PubCo will own shares of PubCo common shares representing 5.5% of PubCo’s issued and outstanding common shares on a fully diluted basis. The merger has been approved by the board of directors of both companies and is expected to close in the second quarter of 2024, subject to customary closing conditions.

On February 7, 2024, the Company settled a long-standing legal matter with Mr. Justin McGinnis. The terms of the agreement are confidential.

The Company continues to raise capital via Crowdfunding, issuing 64,089 shares (on a post-reverse split basis) in exchange for $778,645 since December 31, 2023. In addition, the Company has raised $130,000 through issuance of 11,255 shares (on a post-reverse split basis) from direct, accredited investors.

On October 24, 2024 the Board of Directors approved a resolution authorizing a 1-for-4 reverse stock split. This reverse split became effective November 25, 2024, which is before the effective date of the Company’s registration statement. Accordingly, this change in capital structure is considered a recognized subsequent event and is given retroactive effect in these financial statements as further described in Note 16.

The Company has evaluated subsequent events through April 24, 2024, which was the date that these financial statements were available for issuance.

| F-30 |

<div align='center'>ARRIVE TECHNOLOGY INC.

(FORMERLY DRONEDEK Corporation)

FINANCIAL STATEMENTS</div>

| F-31 |

<div align='center'>FINANCIAL STATEMENTS</div>

ARRIVE TECHNOLOGY INC.

(FORMERLY DRONEDEK CORPORATION)

TABLE OF CONTENTS

|                                     | Page(s) |
| FINANCIAL STATEMENTS                |         |
| Balance                             
 Sheets                              | F-33    |
| Statements                          
 of Operations                       | F-34    |
| Statements                          
 of Changes in Stockholders’ Deficit | F-35    |
| Statements                          
 of Cash Flows                       | F-36    |
| Notes                               
 to Financial Statements             | F-37    |

| F-32 |

<div align='center'>ARRIVE TECHNOLOGY INC. (