Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 261

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 261
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31, 2024. In addition, the Company’s cash position is critically deficient and critical payments to the
operational and financial creditors of the Company are not being made in the ordinary course of business, all of which raises substantial
doubt about the Company’s ability to continue as a going concern.

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 the Condensed
Consolidated Financial Statements are issued. Management’s plans with respect to these adverse financial conditions that caused
management to express substantial doubt about the Company’s ability to continue as a going concern are as follows:

| a. | On November 5, 2024, the Company entered into a securities                                                                                  
 purchase agreement in connection with a private placement offering pursuant to which the Company raised gross proceeds of $9.15 million.    
 After the deduction of fees, expenses payable to the Placement Agent and other offering expenses, including legal fees payable to the       
 Company’s and Placement Agent’s counsel, the net proceeds to the Company was $7.625 million. Proceeds were also used to repay               
 $3.804 million of outstanding indebtedness to debt investors pursuant to an offering in June 2024. After all of such deductions the Company 
 retained net proceeds of $3.621 million.                                                                                                    |

| b. | On December 23, 2024, the Company entered into a securities purchase agreement                                                               
 in connection with a private placement offering pursuant to which the Company raised gross proceeds of $5.48 million and after the deduction 
 of fees and expenses payable to the Placement Agent and other offering expenses, including legal fees payable to the Company’s and           
 Placement Agent’s counsel, the net proceeds to the Company was approximately $4.79 million.                                                  |

F- 7 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

| c. | On January 31, 2025, the Company entered into a securities purchase agreement,                                                             
 in connection with the second closing of the Offering (the “Second Closing”) pursuant to a Confidential Private Placement                  
 Memorandum, dated December 3, 2024. The Securities were offered at a for an