On March 21, 2025, the Company issued a convertible promissory note with a face amount of $4,330,000 to Streeterville Capital LLC (“Streeterville”). The note bears interest at a rate of 8% per annum and matures in August 2025. Under the agreement, Streeterville agrees to purchase an amount of up to $40,000,000 in pre-paid purchases of the Company’s common stock, $0.0002 par value per share. The original principal amount is a $4,330,000 pre-paid purchase with a $4,000,000 initial purchase price and $320,000 original issue discount. In addition, the Company paid $10,000 to cover Streeterville’s transaction expenses, along with 62,500 shares of common stock issued as a commitment fee at closing. In May 2025, Streeterville purchased 2,937,500 shares of common stock, at par value, in exchange for $588. The Company has the right to repurchase these pre-delivery shares at par value. 

 SCHEDULE OF CONVERTIBLE NOTE PAYABLE 

ARRIVE AI INC.

NOTES TO FINANCIAL STATEMENTS (Continued)

During the six months ended June 30, 2025 and 2024, the Company charged to interest expense the amounts of $192,000 and $0, respectively, in connection with the amortization of the discount on this note. The Company charged $0 to interest expense, in connection with the amortization of the discount on this note, during the three months ended June 30, 2025 and 2024.