Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 330

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 330
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 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 based on multiple rounds of funding raised by the Company as detailed above under the
section titled as “Private Placement of Equity and Warrants”, while this financing resulted in the payment of certain outstanding
indebtedness, the Company will still need to raise additional capital imminently in order to have sufficient capital. The Company
believes that current cash and cash equivalents will allow the Company to continue operations through December 31, 2025, assuming
that the Company makes no further payments on its currently outstanding indebtedness and only pays current operating accruals. The
Company was advised by its largest investor and director that he would no longer commit to continuing his support to the Company in
the event that any liquidity requirements arise in the future.

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. 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. No adjustments have been made to the financial statements based on this uncertainty.

68

The following table summarizes
our cash flows for the periods presented:

    Nine Months ended Dec 31, 
  
    Statements of Cash Flows Data: 
    2024  
    2023 
  
    Net cash used in provided by operating activities 
    $(5,043,721) 
    $(8,542,144)
  
    Net cash flows generated from investing activities 
     463,556  
     (62,010)
  
    Net cash generated from financing activities 
     7,698,030  
     11,204,424 
  
    Effect of foreign exchange on cash and cash equivalents. 
     (16,636) 
     (168,160)
  
    Net decrease in cash and cash equivalents 
     3,117,865  
     2,600,270 

Operating Activities

Net cash used in operating activities was $5.04 million and $8.54 million
for the nine months ended December