Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 278

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 278
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 impact on the Company’s Condensed Consolidated Financial Statements.

There are other new accounting
pronouncements issued by the FASB that the Company has adopted or will adopt, as applicable, and the Company does not believe any of these
accounting pronouncements have had, or will have, a material impact on its Condensed Consolidated Financial Statements or disclosures.

F- 20 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

| 3 | Reverse Stock Split |

The Company’s shareholders authorized, and the Board of
Directors approved for a Reverse Stock Split (the “First Reverse Stock Split”), which became effective on October
21, 2024. Any fractional shares that would have otherwise resulted from the First Reverse Stock Split were rounded up to the nearest whole
share.

Every shares of issued and outstanding Common Stock
has been consolidated into share, without affecting the par value. In addition, (i) a proportionate adjustment has been made to the
number of outstanding warrants, per share exercise price and the number of shares issuable upon the exercise of all outstanding stock
options and warrants to purchase shares of common stock as per the terms and conditions of the respective warrant agreements, and (ii)
the number of shares reserved for issuance pursuant to the Company’s equity incentive plans was also reduced proportionately.

The Company’s shareholders authorized, and the Board
of Directors approved for a 1-for-20 Reverse Stock Split (the “Second Reverse Stock Split”), which became effective on March
21, 2025. Any fractional shares that would have otherwise resulted from the Second Reverse Stock Split were rounded up to the nearest
whole share.

Every shares of issued and outstanding Common Stock has
been consolidated into one share, without affecting the par value. In addition, (i) a proportionate adjustment has been made to the number
of outstanding warrants, per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options
and warrants to purchase shares of common stock as per the terms and conditions of the respective warrant agreements, and (ii) the number
of shares reserved for issuance pursuant to the Company’s equity incentive plans was also reduced proportionately.

| 4 | Troubled Debt Restructuring |

7.7% Debenture

On September
25, 2024, the Company entered into a settlement agreement with Blacksoil Capital Private Limited (lender). As per the agreement, the lender