Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 537

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1
Chunk 537
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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.

119

Because there are no current plans to pay
cash dividends on our Common Stock for the foreseeable future, you may not receive any return on your investment unless you sell your
Common Stock at a price greater than what you paid for it.

We intend to retain future
earnings, if any, for future operations, expansion and debt repayment and there are no current plans to pay any cash dividends for the
foreseeable future. The declaration, amount, and payment of any future dividends on shares of our Common Stock will be at the sole discretion
of the Board. The Board may take into account general and economic conditions, our financial condition and results of operations, our
available cash and current and anticipated cash needs, capital requirements, contractual, legal, tax and regulatory restrictions, implications
of the payment of dividends by us to our stockholders or by our subsidiaries to us and such other factors as the Board may deem relevant.
As a result, you may not receive any return on an investment in the Common Stock unless you sell your Common Stock for a price greater
than that which you paid for it.

Our warrants may have an adverse effect
on the market price of our Common Stock.

In connection with the Business Combination, we assumed from IOAC 11,500,000
Public Warrants to purchase 115,000 shares of our Common Stock, each Public Warrant exercisable into one hundredth of one share of Common
Stock at an exercise price of $571.00 per full share. In addition, as a result of the Business Combination we issued warrants to the Legacy
Zoomcar warrant holders. As of the date hereof, there are 380,011 of such warrants outstanding, each exercisable to purchase one share
of Common Stock at $300 per share. Further, in June 2024, we issued warrants to purchase shares of Common Stock which
such warrants became exercisable beginning on December 20, 2024. As of the date hereof, such warrants are