Company: ARAI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023457
Chunk: 44

Company: Arrive AI Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 convertible debt under the Purchase Agreement. We received net proceeds of $448,056 from other sales of common stock
and $573,896 from exercise of outstanding warrants, prior to the direct listing. These cash inflows were offset by payments made on an
outstanding note payable of $6,337 and payments for deferred offering costs of $698,570. We made purchases of our common stock under
the share repurchase program of $74,743 in the period.

For
the nine months ended September 30, 2024, net cash provided by financing activities was $1,925,768, which included $2,031,682 from sales
of common stock, offset by payments made on the notes payable of $5,914 and the payment of deferred offering costs of $100,000.

Item
3. Quantitative and Qualitative Disclosures About Market Risk

The
Company is not required to provide the information required by this Item because it is a “smaller reporting company.”

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

Our
management, with the participation of our Chief Executive Officer and our Chief Financial Officer (our principal executive officer and
principal financial officer, respectively), evaluated, as of the end of the period covered by this Quarterly Report on Form 10-Q, the
effectiveness of our disclosure controls and procedures as defined in Rules 13a-15(e) or 15d-15(e) under the Exchange Act. The term “disclosure
controls and procedures,” as defined in the Exchange Act, means controls and other procedures of a company that are designed to
ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded,
processed, summarized, and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms.
Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required
to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s
management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate
to allow timely decisions regarding required disclosures. Management recognizes that any controls and procedures, no matter how well
designed and operated, can provide only reasonable assurance of achieving their objectives, and management necessarily applies its judgment
in evaluating the cost-benefit relationship of possible controls and procedures.

Based
on that evaluation of our disclosure