Company: ARAI
Filing Date: 2025-01-27
Form Type: S-1/A
Source: 0001493152-25-003660
Chunk: 164

Company: Arrive AI Inc.
Filing Date: 2025-01-27
Form: S-1/A
Chunk 164
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     | $ |  85,573 |   |     | $ | 48,679 |   |

For the years ended December 31, 2023 and 2022, total depreciation expenses were $13,106 and $9,764, respectively. In December 2023, the Company acquired fixed assets as part of an asset purchase agreement. See details in Note 15.

5. PROPERTY AND EQUIPMENT (Continued)

CONSTRUCTION-IN-PROGRESS:

As of December 31, 2023 and 2022, balance of construction-in-progress was $0 and $722,069, respectively. The balance of construction-in-progress was assessed for impairment in 2023 and adjusted as detailed in Note 2.

6. PATENTS, NET

Patents consist of the following:

|                   |     |   |      2023 |   |     |   |    2022 |
|:------------------|:----|:--|----------:|:--|:----|:--|--------:|
| Patents           |     | $ | 1,196,063 |   |     | $ | 198,200 |
| Total patents     |     |   | 1,196,063 |   |     |   | 198,200 |
| Less: impairment  |     |   |  (997,863 | ) |     |   |       - |
| Less: accumulated 
 amortization      |     |   |      (287 | ) |     |   |       - |
| TOTAL PATENTS     |     | $ |   197,913 |   |     | $ | 198,200 |

| F-16 |

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

(FORMERLY DRONEDEK CORPORATION)

NOTES TO FINANCIAL STATEMENTS (Continued)</div>

In 2023, three (3) of the Company’s forty-six (46) patents were approved and began being amortized over twenty years. As of December 31, 2022, there were no patents approved by the countries in which the patent applications were filed. In December 2023, the Company acquired patents as part of an asset purchase agreement. During the annual impairment assessment performed by the Company at December 31, 2023, these acquired patents were determined to be fully impaired. See details in Note 15.

Amortization expense was $287 for the year ended December 31, 202