Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 331

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 331
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31, 2024, and December 31, 2023, respectively. The major drivers contributing to the decrease of $3.50
million during the current nine months compared to previous nine months period included the following:

    1.
    Decrease in net loss of $8.18 million after adjustments for non-cash items. These adjustments include fair value changes in financial instruments, SSCPN issue expense, stock-based employee compensation,  issuance cost towards November and December 2024 offering, note issue expenses, gain on trouble restructuring, Interest expenses on redeemable promissory note and finance leases, depreciation and amortization of long-lived assets and intangibles assets, discount on issuance of common stock and warrants, among others.

    2.
    Net decrease in working capital of $4.68 million was a result of improved working capital management during the nine months ended December 31, 2024, as compared to the nine months ended December 31, 2023.

Investing Activities

Net cash generated from investing activities totaled $0.46 million
for the nine months ended December 31, 2024, as compared to Net cash used for investing activities totaled $0.06 million during the same
period in 2023. The increase in cash generated during the nine months ended December 31, 2024, is largely attributable to receipt of proceeds
from maturity of investment in fixed deposits during the current nine months as compared use of proceeds to investment in fixed deposits
during the nine months ended December 31,2023.

Financing Activities

Net cash generated from financing activities totaled $7.70 million
and $11.20 million during the nine months ended December 31, 2024, and December 31, 2023, respectively. The Company received proceeds
from issue of redeemable promissory notes $3.00 million out of which note issuance expenses of $0.49 million has been paid, issuance of
equity and warrants amounting to $14.63 million out of which $2.18 million paid in relation to issuance expenses of equity and warrants,
and repayment of redeemable promissory note of  $3.80 million, debt repayments and principal payment of finance lease obligations
totaled to $3.46 million during the nine months ended December 31, 2024 as compared to proceeds from the issuance of Senior Subordinated
convertible promissory note of $