Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 10

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 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 Condensed
Consolidated Financial Statements are issued.

Management
is evaluating plans with respect to these adverse financial conditions that caused to express substantial doubt about the Company’s
ability to continue as a going concern. Management’s plan is to seek funding through additional debt or equity financing arrangements,
implement business initiatives to improve customer experience and incremental expense reduction measures or a combination thereof to continue
financing its operations. The Company has filed Registration Statement under Form S-1 on May 5, 2025 to raise up to $15 million. No amount
has been raised against the same. Further the Company continues to raise money by way of promissory note, convertible promissory note,
share and warrant issuance to manage the working capital requirements.  

While these financing arrangements
shall result in the payment of certain outstanding indebtedness, the Company will still need to raise additional capital imminently in
order to have sufficient capital. There can be no assurance that the Company will be able to achieve its business plan, raise any additional capital
or secure the additional financing necessary to implement its current operating plan.

6

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

The ability of the Company to continue
as a going concern is dependent upon its ability to increase its revenues and eventually achieve profitable operations. The accompanying
Condensed Consolidated Financial Statements do not include any adjustments that might be necessary if the Company is unable to continue
as a going concern.

2.Summary of Significant Accounting Policies

i.Basis of presentation

The accompanying Condensed Consolidated
Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (US
GAAP) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. As
permitted under those rules, certain footnotes or other financial information that are normally required by US GAAP have been condensed
or omitted. Any reference in these notes to applicable guidance is meant to refer to the authoritative GAAP as found in the Accounting
Standards Codification (“ASC”) and an Accounting Standards Update (“ASU”) of the Financial Accounting Standards
Board (“FASB”). The results of operations for the three months ended June 30, 2025, are not