Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 55

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 55
---
 $29,369 and $96,710 as at December 31, 2024 and March
31, 2024, respectively in relation to Loyalty program.

Revenue recognized during the three months and nine months
ended December 31, 2024 which was included in contract liabilities balance at the beginning of the respective period amounts to $(13,488)
and $256,341 respectively ($NIL and $360,686 recognized during the three months and nine months ended December 31, 2023 respectively).

37

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS (UNAUDITED)

    24
    Finance costs

The components of finance costs were as follows: 

    Three months ended December 31,  
    Nine months ended December 31, 
  
    (In USD) 
    2024  
    2023  
    2024  
    2023 
  
    Finance costs -other than related parties 

    Interest on vehicle loans 
    $68,032  
    $97,341  
    $230,116  
    $288,279 
  
    Interest on finance leases 
     180,841  
     152,659  
     448,050  
     469,140 
  
    Interest on subcontractor liability 
     23,098  
     23,435  
     69,586  
     70,585 
  
    Issuance cost towards issue of Common Stock and warrants 
     2,868,085  
     -  
     2,868,085  
     - 
  
    Change in fair value of derivative financial instruments 
     -  
     -  
     -  
     3,465,293 
  
    Change in fair value of preferred stock warrant liability 
     -  
     5,704,739  
     -  
     5,284,494 
  
    Discount on issue of Atalaya Note 
     -  
     632,595  
     -  
     632,595 
  
    Interest on redeemable promissory notes 
     528,344  
     -  
     1,995,967  
     - 
  
    Change in fair value of Atalaya Note