Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 122

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 122
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 primarily consist of personnel-related compensation expenses for technology, product, and engineering teams, as well as expenses
associated with our information technology and data science platforms. We expect that our technology and development expenses will increase
on an absolute dollar basis but vary from period to period as a percentage of net revenue for the foreseeable future as we continue to
invest in technology and development activities relating to ongoing improvements to and maintenance of our platform, including the potential
hiring of additional personnel to support these efforts.

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Sales and Marketing

Sales and marketing expenses
primarily consist of online marketing expenses, marketing promotion expense, marketing partnerships with third parties, sales and marketing
personnel compensation expenses and certain incentives and referral bonuses paid to Hosts (reflecting the portion of incentive costs not
adjusted against net revenue). Sales and marketing expenses also include allocated overhead. We expect that our sales and marketing expenses
will increase on an absolute dollar basis but vary from period to period as a percentage of net revenue for the foreseeable future.

General and Administrative

General and administrative
expenses primarily consist of personnel-related expenses for executive management and administrative functions, including finance and
accounting, legal, and human resources. General and administrative expenses also include certain travel expenses, professional service
fees, including legal expenses, rent expenses, office expenses, repairs and maintenance of office equipment and furniture, directors’
and officers’ insurance and other expenses. We further expect to continue incurring general and administrative expenses of operating
as a public company, including expenses for insurance, costs to comply with the rules and regulations applicable to companies listed on
a Nasdaq, costs related to compliance and reporting obligations pursuant to the rules and regulations of the SEC, investor relations,
and professional services expenses. We expect general and administrative expenses will reduce on absolute dollar basis owing to our efforts
to manage costs.

Finance Costs

Finance costs consist primarily
of interest on vehicle loans, finance leases and redeemable promissory note. Costs recognized on account of change in fair valuation of
preferred stock warrant liability, convertible promissory notes and derivative financial instruments and convertible promissory notes
are included. In addition, it also includes funds issue expenses, note issue expenses, bank charges, other borrowing costs.

Other (Income) and Expense, Net

Other (income) and expense,
net consists primarily of change in fair value of the convertible promissory note, SSCPN, derivative financial instrument and the unsecured
convertible note, interest income, (gain)/