Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1823

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 1823
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3.00 million. The June Notes are
due nine (9) months from the date of issuance,  provided that the Company is required to use the proceeds at the closing date
of one or more subsequent equity, debt or other capital raise(s) or any sale of tangible or intangible assets with net proceeds sufficient
to repay all or any portion of the amounts due under the June Notes, and bear interest at a rate of 15% per annum (up to 20% per
annum during the occurrence of an Event of Default). The June Notes are also subject to optional redemption at the option of the Note
Holder in the event of a change of control or upon occurrence of an Event of Default (in which case the June Notes are redeemable at
a premium of 125% of the amount due thereunder). The June Notes contain certain negative covenants including, but not limited to,
a prohibition on incurring indebtedness (other than certain permitted indebtedness) or allowing or suffering to exist any liens or encumbrances
(other than permitted liens), repaying or redeeming any outstanding indebtedness other than the June Notes, redeeming or repurchasing
any equity interests of the Company, declaring any dividends or distributions, changing the Company’s business, entering into any
related party transactions or issuing any securities that would cause a breach or default of the June Notes. The June Notes also contain
certain affirmative covenants, including, but not limited to, maintaining good standing, maintaining the Company’s property and
intellectual property, maintaining current insurance policies and providing prompt notice in the event of an Event of Default or the
commencement of voluntary bankruptcy or liquidation proceedings.

Our future capital requirements
will depend on many factors, including, but not limited to, our growth, our ability to attract and retain Hosts and Guests, and the scope
of future sales and marketing activities.

The Company expects to continue to incur net losses and have significant
cash outflows from operating activities for at least the next 12 months. Management has evaluated the significance of the conditions described
above in relation to the Company’s ability to meet its obligations and concluded that, without additional funding, the Company will
not have sufficient funds to meet its obligations within one year from the date of the audited Consolidated Financial Statements were
issued. On November 5, 2024, the Company had entered into a private placement transaction for gross proceeds of $9.15 million