Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 215

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 215
---
000.

In April 2025, the Group entered into an additional subscription agreement with certain lenders and pursuant to the terms of the additional
subscription agreement, the lenders subscribed for Convertible Notes in an aggregate principal amount of US$23,000,000.

Based on the above facts, management believes
that they will be successful in executing the planned strategy to meet working capital and capital expenditure requirements that may fall
for the next twelve months after the approval of the consolidated financial statements. Based on this, the management believes that it
remains appropriate to prepare these consolidated financial statements on a going concern basis.

3 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES AND USE OF ESTIMATES

3.1 Use
of estimates

The preparation of consolidated financial statements
in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
at the date of the consolidated financial statements, the reported amounts of revenues and expenses during the reporting period, and the
disclosure of contingent assets and liabilities at the date of the consolidated financial statements.

Items subject to estimates and assumptions include
those related to useful lives of property and equipment, including electric mopeds, electric bikes and electric scooters, legal contingencies,
valuation allowance for deferred tax assets, determination of contract term of rental buildings and vehicles related to operating lease
right of use assets, valuation of warrant liability and valuation of share-based compensation. Actual results could differ from those
estimates.

3.2 Principles
of consolidation

The accompanying
consolidated financial statements include the accounts of Marti Technologies, Inc (formerly Galata), as ultimate parent, Marti Technologies
I Inc. (formerly Marti Technologies Inc.) and its wholly-owned subsidiary Marti Ileri (collectively, the Group). Subsidiaries are entities
controlled by Marti Technologies, Inc. The Group controls an entity when it is exposed to, or has rights to, returns from its involvement
with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries
are included in the consolidated financial statements from the date that control commences until the date that control ceases.

Transactions eliminated on consolidation

Intra-group
balances and transactions, and any unrealized income and expenses arising from intra-group transactions, are eliminated in the preparation
of the consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against
the investment to the extent of the Group’s interest in the invest