Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 832

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1C
Chunk 832
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     -  
     38,203 
  
    Other expense/(income), net 
     7,785,291  
     (11,316,471)
  
    Other income from related parties 
     -  
     (11,224)
  
    Gain on troubled debt restructuring 
     (1,171,161) 
     - 
  
    Impairment of balances with government authorities 
     -  
     3,875,767 
  
    Adjusted EBITDA 
    $(9,914,632) 
    $(17,845,538)

Liquidity and Capital Resources

During the year ended March 31, 2025, and 2024 respectively, we generated
negative cash flows from operations of $9.08 million and $22.20 million, respectively, reflecting greater operating cost efficiencies
and reduced overhead expenditures in 2025. The Company incurred a net loss of $25.62 million and $34.28 million during the year ended
March 31, 2025, and 2024, respectively, and the accumulated deficit amounts to $333.17 million and $307.55 million as of March 31, 2025,
and 2024, respectively.

As of March 31, 2025, our
cash and cash equivalents totaled $1.08 million, consisting of cash on hand, fixed deposits, Restricted cash and cash equivalents included
under other non-current assets and other bank balances.

Our primary use of cash
is to fund our existing operations. If we have sufficient working capital, we will continue to invest in product development and in our
technology platform. We expect that our general and administrative expenses will be reduced on an absolute dollar basis due to our efforts
to manage cost, use of our cash effectively and improve profitability while managing our research and development programs. As on March
31, 2025, the Company’s cash position was critically deficient and critical payments to the operational and financial creditors
of the Company are not being made in the ordinary course of business, all of which raises substantial doubt about the Company’s
ability to continue as a going concern.

74

In October 2022, we entered into a Business Combination
Agreement (BCA) for merger with Innovative International Acquisition Corp. (“IOAC”) In October 2022, we entered into a note
purchase agreement with Ananda small business trust, an affiliate of the SPAC sponsor