Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 124

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 5
Chunk 124
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from operations since our inception. Our ability to fund working capital, make capital expenditures, and service our debt will depend
on our ability to generate cash from operating activities, which is subject to our future operating success especially following the monetization
of the ride-hailing service, and obtain financing on reasonable terms, which is subject to factors beyond our control, including general
economic, political, and financial market conditions.

Until we can generate sufficient revenue to cover
operating expenses, working capital and capital expenditures, we expect to fund cash needs primarily through a combination of equity and
debt financing. If we raise funds by issuing equity securities, dilution to our then-existing shareholders may result. Any equity securities
issued may also provide for rights, preferences or privileges senior to those of holders of our ordinary shares. If we raise funds by
issuing debt securities, such debt securities may have rights, preferences or privileges senior to those of our preferred shareholders
and holders of our ordinary shares.

The terms of our debt securities or borrowings
could impose significant restrictions on our operations and our ability to undertake certain fundraising activities. The capital markets
have in the past, and may in the future, experience periods of volatility and upheaval that could impact the availability and cost of
equity and debt financing.

Sales of a substantial number of shares of our
Ordinary Shares in the public market by securityholders, or the perception that those sales might occur, could depress the market price
of our Ordinary Shares and could impair our ability to raise capital through the sale of additional equity securities. We are unable to
predict the effect that such sales may have on the prevailing market price of our Ordinary Shares.

We have concluded that we have adequate resources
and liquidity to meet our cash flow requirements for the next twelve months, and we believe that it is reasonable to apply the going concern
basis as the underlying assumption for our consolidated financial statements. This assessment includes knowledge of our subsequent financial
position, the estimated economic outlook and identified risks and uncertainties in relation thereto. Furthermore, the review of our strategic
plan and budget, including expected developments in liquidity were considered.

In the future, we may enter into arrangements
to acquire or invest in complementary businesses, products, and technologies. We may be required to seek additional equity or debt financing
to consummate such transactions. In the event that we require additional financing, we may not be able to raise such financing on acceptable
terms or at all. If we are unable to raise additional capital or generate