Arrive AI Inc. (ARAI): auditor change — Arrive AI restates Q2/Q3 2025 on convertible note derivative error; appoints T-Mobile exec to board

Arrive AI Inc.

Accounting error: conversion feature on Streeterville convertible notes misclassified; requires embedded derivative treatment per ASC 815-40.
Non-relied-upon financial statements: Quarterly Reports for June 30 and September 30, 2025; restatements to be filed.
Non-cash impact on net income, balance sheet, and disclosures; third-party valuation firm engaged; error remediated in 2025 10-K.
Michael Fitz, T-Mobile VP of Solution Sales & Indirect Channels, appointed to Board effective April 16, 2026; $40k cash retainer + $150k annual RSUs.

item 4.02 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Arrive AI Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

the Company has determined, and under the advisement of its auditors, that the Company’s previously issued financial statements, contained within its Quarterly Reports on Form 10-Q for the quarters ended September 30, 2025 and June 30, 2025 should no longer be relied upon due to errors in such financial statements.

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Source: SEC EDGAR

accession 0001493152-26-016556

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