Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 108

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 108
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 application with Nasdaq
for the transfer of its listing to The Nasdaq Capital Market.

There is a possibility that
we will not meet the terms of the Panel’s extension but we believe that we may be able satisfy the MVLS requirement. Additionally,
it is unlikely that the Company will satisfy the MVLS of $50 million for listing on the Nasdaq Global Market, the Company is attempting
to satisfy the MVLS of $35 million for listing on the Nasdaq Capital Market to satisfy the continued listing standards. This MVLS must
be maintained for at least ten consecutive trading days before the standard will be satisfied. We plan to submit a compliance update and
extension request in writing to the Panel before March 31, 2025, requesting additional time from the Panel to demonstrate compliance.
There is no assurance that any of the above actions will result in the Company’s satisfaction of all of the Nasdaq continuing listing
standards or that Nasdaq will permit the Company additional time to satisfy all of those continuing listed standards.

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If Nasdaq delists our securities
from trading on its exchange for failure to meet its listing standards, and we are not able to list such securities on another national
securities exchange, then our Common Stock could be quoted on an over-the-counter market. If this were to occur, we and our stockholders
could face significant material adverse consequences, including:

| ● | a limited availability of market quotations for our securities; |

| ● | reduced liquidity for our securities; |

| ● | a determination that the Common Stock is a “penny stock,” which will require brokers trading the Common Stock to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for shares of Common Stock; |

| ● | a limited amount of news and analyst coverage; and |

| ● | a decreased ability for us to issue additional securities or obtain additional financing in the future. |

We do not intend to pay cash dividends for the foreseeable future.

We currently intend to retain
our future earnings, if any, to finance the further development and expansion of our business and do not intend to pay cash dividends
in the foreseeable future. Any future determination to pay dividends will be at the discretion of our Board and will depend on our financial
condition, results of operations, capital requirements, and future agreements and financing instruments, business prospects and such other
factors as our Board deems relevant.

Because there are no current plans to pay cash dividends