Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 258

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 19
Chunk 258
---
 favor of the plaintiff regarding our ride-hailing service, but dismissed claims related to our motorcycle-hailing
service. The court also issued an order blocking access to our ride-hailing app but clarified that this did not affect other activities.
We filed objections to the ruling on October 1, 2024, except for the part related to motorcycle-hailing.

The 14thCivil
Chamber of the Istanbul Regional Court of Justice overturned the decision, stating that the expert reports were insufficient and that
the court had not properly considered the defendant’s defenses. The case was sent back to the first instance court for retrial.

Following this, the case
resumed in the Istanbul 14thCommercial Court. Additionally, a lawsuit filed by the Antalya Chamber of Drivers was combined
with the existing case, as both were related. Following this, the İzmir Taxi Association, the Kayseri Taxi Association, the national
umbrella organization for all taxi unions in Türkiye, the Turkish Drivers and Automobile Federation, requested intervention in the
main Istanbul case. On March 21, 2025, the intervention requests were accepted and a new expert committee is appointed to prepare a new
expert report. The hearing is postponed to May 23, 2025.

24 - NET LOSS PER SHARE ATTRIBUTABLE
TO COMMON STOCKHOLDERS

Since the Group was in a
loss position for the years ended December 31, 2024, and 2023, basic net loss per share was the same as diluted net income per share for
the periods presented. The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders
for the years ended December 31, 2024, 2023 and 2022.

 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Numerator:                                                                                                   
  Net loss attributable to common stockholders               ( 73,880,982      ( 33,814,719      ( 14,245,878  
  Denominator:                                                                                                 
  Basic and diluted weighted-average shares outstanding        58,966,238        50,578,134        44,110,188  
  Loss per share:                                                                                              
  Basic and diluted loss per share                                 ( 1.25            ( 0.67            ( 0.32  

The weighted-average number
of shares of common stock outstanding prior to the reverse recapitalization have been retroactively adjusted