Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 140

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 140
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    (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 31, 2024, and December 31, 2023, respectively. The major drivers contributing to the decrease of $3.50 million during the current nine months compared to previous nine months period included the following:

| 1. | Decrease in net loss of $8.18 million                                                                                                         
 after adjustments for non-cash items. These adjustments include fair value changes in financial instruments, SSCPN issue expense, stock-based 
 employee compensation, issuance cost towards November and December 2024 offering, note issue expenses, gain on trouble restructuring,         
 Interest expenses on redeemable promissory note and finance leases, depreciation and amortization of long-lived assets and intangibles        
 assets, discount on issuance of common stock and warrants, among others.                                                                      |

| 2. | Net decrease in working capital                                                                                                         
 of $4.68 million was a result of improved working capital management during the nine months ended December 31, 2024, as compared to the 
 nine months ended December 31, 2023.                                                                                                    |

76 Investing Activities Net cash generated from investing activities totaled $0.46 million for the nine months ended December 31, 2024, as compared to Net cash used for investing activities totaled $0.06 million during the same period in 2023. The increase in cash generated during the nine months ended December 31, 2024, is largely attributable to receipt of proceeds from maturity of investment in fixed deposits during the current nine months as compared use of proceeds to investment in fixed deposits during the nine months ended December 31,2023. Financing Activities Net cash generated from financing activities totaled $7.70 million and $11.20 million during the nine months ended December 31, 2024, and December 31, 2023, respectively. The Company received proceeds from issue of redeemable promissory notes $3.00 million out of which note issuance expenses of $0.49 million has been paid, issuance of equity and warrants amounting to $14.63 million out of which $2.18 million paid in relation