Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1270

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 1270
---
 Common Stock and warrants 
     16,158,811  
     - 
  
    Reclassification of warrants from liability to equity 
     8,366,650  

    Issue of Common Stock upon cashless exercise of warrants 
     92,791  

    Issue of Common stock upon conversion of Unsecured Convertible Note 
     2,324,696  
     - 
  
    Assumption of Unsecured promissory note on Reverse Recapitalization 
     -  
     3,259,208 
  
    Issue of warrants to redeemable promissory note holders 
     2,047,925  
     - 
  
    Issue of common stock upon exercise of warrants issued with redeemable promissory notes 
     5  
     - 
  
    Issue of common stock upon conversion of unsecured promissory note 
     2,027,840  
     - 
  
    Warrants issued to placement agents towards issue of redeemable promissory notes 
     418,157  
     - 
  
    Warrants issued to placement agents 
     1,540,167  
     - 
  
    Acquisition of assets held for sale by incurring a liability 
     238,689  
     - 

The accompanying notes are an integral part of these Consolidated
Statements of Cash Flows

F-7

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.Organization, Business operation and Going concern

Zoomcar Holdings, Inc. (formerly
“Innovative International Acquisition Corp”) a Delaware corporation provides mobility solutions to consumers and businesses.
The accompanying Consolidated Financial Statements include the accounts and transactions of Zoomcar Holdings, Inc. and its subsidiaries
(collectively, the “Company” or “the combined entity” or “Zoomcar”). The Company operates its facilitation
services under the Zoomcar brand with its operations in India.

Going concern

The accompanying Consolidated Financial Statements have been prepared
in accordance with U.S. GAAP and the rules and regulations of the SEC. The Consolidated Financial Statements have been prepared using
U.S. GAAP applicable to a going concern that contemplates the realization of assets and settlement of liabilities in the normal course
of business. The Company incurred a net loss of $25,622,303 and $ 34,277,252 during the year ended March 31,