Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 119

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 119
---
 -100 | % |     | $                         | -       |   |     | $    | (11,224     | ) |     | $      |     11,224 |     |        | -100 | % |

Other Expense, net was $0.76 million during the three months ended December 31, 2024, versus other Income of $34.50 million during the three months ended December 31, 2023, a reduction of $35.26 million or 102% This reduction is due to elimination of non-cash gain on account of change in the fair value of convertible promissory note and SSCPN resulted in a net gain of $28.10 million during the three months ended December 31, 2023 as compared to Nil during the three months ended December 31, 2024 due to conversion of these instrument into equity at the close of deSPAC during the three months ended December 2023. Loss recognized on litigation settlement of $4.34 million during the three months ended December 31, 2024 as comparted to Nil during the three months ended December 31, 2023 was partially offset by the change in the fair value of derivative financial instruments resulted in a gain of $ 5.47 million during the three months ended December 31, 2024 as compared to gain of $6.57 million during the three months ended December 31, 2023, Further There was a loss on extinguishment of redeemable promissory notes amounting to $1.77 million during the three months ended December 31, 2024 as compared to Nil expenses recognized during the three months ended December 31, 2023. Other Income, net was $0.03 million during the nine months ended December 31, 2024, versus other income of $10.38 million during the nine months ended December 31, 2023, a decrease of $10.35 million or 100%. This decrease is primarily due to elimination of non-cash gain on account of change in the fair value of convertible promissory note and SSCPN resulted in a net gain of $10.44 million during the nine months ended December 31, 2023 as compared to Nil during the nine months ended December 31, 2024 due to conversion of these instruments into equity at the close of deSPAC during the three months ended December 31, 2023. Loss recognized on litigation settlement of $4