Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 269

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 269
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, and the number of warrants was increased to maintain the aggregate
exercise price. As a result, the number of exercisable warrants became fixed, eliminating variability, and the outstanding Series A and
Series B warrants were reclassified to equity at their respective reclassification date fair values. Warrants exercised before reclassification
were reclassified at their exercise date fair value, while those exercised after were adjusted through additional paid-in capital.

As
of September 30, 2025, 1,103,832 Series A warrants exercisable at $16.12, 2,549,164 Series A warrants exercisable at $6.24 and 781,100
Series B warrants exercisable at $0.002 remains outstanding. During the six months ended September 30, 2025, 4,654,461 shares were issued
on exercise of Series A warrants and 1,469,497 shares on exercise of Series B warrants.

As
of September 30, 2025, the Company has issued 1,874,559 Pre-Funded warrants in lieu of liquidation damages payable to some investors.
Out of these, 33,458 Pre-Funded warrants has been exercised during the period.

Further,
during the six months ended September 30, 2025, the Company has issued 2,400,310 Pre-Funded warrants in exchange of common stock cancelled
during the period.

As
of September 30, 2025, the Company has 2,640,569 number of restricted shares (1,909,833 as of March 31, 2025) and 4,262,158 number of
unrestricted shares (552,585 as on March 31, 2025).

(This
space has been left intentionally blank)

37

ZOOMCAR
HOLDINGS, INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

19Revenue

The
components of revenue, net were as follows:

    (In USD) 
    Three months ended  September 30,  
    Six months ended  September 30, 

    2025  
    2024  
    2025  
    2024 
  
    Revenue from services 

    Facilitation revenue (net) 
    $2,281,111  
    $2,239,538  
    $4,581,435  
    $4,445,940