Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 586

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 586
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 result of the First Closing, the Company received $4,786,963 of cash and cash equivalents after giving effect to
offering fees and expenses. The Company believes that current cash and cash equivalents will allow the Company to continue operations
through December 2025, assuming that the Company makes no payments on its currently outstanding indebtedness and only pays current operating
accruals, however there can be no assurance that this will be the case. Even if our current cash position supports operations through
December 2025, we cannot assure that this cash will be sufficient in the longer run and we will be required to obtain a further infusion
of cash funds to support our operations or address the indebtedness, including through this offering. The Company will still need to seek
financing for the purpose of raising additional funds to be able to meet its obligations and so that there will no longer be substantial
doubt about its ability to continue as a going concern. However, there is no assurance that the Company will be able to raise any such
financing or, even if it does, that it will be sufficient for it to meet its obligations or continue as a going concern.

The Company as of date of
this filing has $4.40 million of cash and cash equivalents

Accordingly, we believe that
additional funds will be imminently required to support current operations and, in the long term, the growth of our business.. Our operations
have consumed substantial amounts of cash, and we have incurred operating losses since we began operating in 2013. While our cash consumption
has been reduced following our business transition from short-term rental of vehicles owned by or leased to Zoomcar to an online platform
for peer-to-peer car sharing, we have consumed significant amounts of cash in effecting such transition in terms of technology and platform
innovation, and our cash consumption has varied over time. Our cash needs will depend on numerous factors, including our revenues, upgrade
and innovation of our peer-to-peer car sharing platform, customer and market acceptance and use of our platform, and our ability to reduce
and control costs. We expect to devote substantial capital resources to, among other things, fund operations, continued improvement, upgrading
or innovation of our platform, and expand our international outreach. If we are unable to secure such additional financing, it will have
a material adverse effect on our business, and we may have to limit operations in a manner inconsistent with our development.

86

Our operating and financial forecasts are
subject to