Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 38

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 38
---
)
As at 
    Estimated
 useful life 
    December 31,
 2024  
    March 31,
 2024 

    Devices 
    3 - 5 years 
    $3,107,319  
    $3,274,998 
  
    Computer equipments 
    2 - 7 years 
     550,939  
     603,864 
  
    Office equipments 
    3 - 10 years 
     229,025  
     245,545 
  
    Furniture and fixtures 
    10 years 
     1,718  
     7,398 
  
    Total, at cost    
      
     3,889,001  
     4,131,805 
  
    Less: Accumulated depreciation 
      
     (2,741,574) 
     (2,572,825)

    $1,147,427  
    $1,558,980 

Right-of-use assets under finance
leases:

    Vehicles, at cost 
    $4,009,932  
    $4,117,406 
  
    Accumulated depreciation 
     (4,009,932) 
     (4,117,406)

    $-  
    $- 

    Total property and equipment, net 
    $1,147,427  
    $1,558,980 

Depreciation expense for the three
months and nine months ended December 31, 2024 was $89,552 and $302,715 respectively and for the three months and nine months ended December
31, 2023 was $244,051 and $754,658, respectively. Depreciation expense has been shown under cost of revenue amounting to $73,683 and $222,862
for the three months and nine months ended December 31, 2024 respectively ($205,260 and $624,630 respectively for three months and nine
month ended December 31, 2023) and under General and administrative expenses amounting to $15,869 and $79,853 for the three months and
nine months ended December 31, 2024 respectively ($38,791 and $130,028 respectively for three months and nine months ended December 31,
2023). Vehicles are pledged against debt from financial institutions.

25

ZOOMCAR HOLDINGS, INC.

NOTES TO COND