Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 318

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 318
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 the three months ended December 31, 2023. This decrease is partially offset by increase in the cost
of issuance cost of November 2024 and December 2024 private placement offerings amounting to $ 2.87 million respectively and $0.53 million
in accrued interest on a redeemable promissory note during the three months ended December 31, 2024, compared to the three months ended
December 31, 2023. Other borrowing cost has increased by $0.09 million during three months ended December 31, 2024 as compared to the
same period ending December 31, 2023.

61

Finance costs were $6.13
million during the nine months ended December 31, 2024, as compared to $13.63 million during the nine months ended December 31, 2023,
a decrease of $7.50 million, or 55%. This decrease is due to Non-cash expenses related to change in fair valuation of derivative financial
instrument, preferred stock warrant were $3.47 million and $5.28 million respectively during nine months ended December 31, 2023, all
of which was converted into equity at the close of deSPAC during the fiscal year ended on March 31,2024, one time discount on issuance
of unsecured convertible note accounted as expenses amounting to $0.63 million during December 31, 2023, change in the fair value of Atalaya
note resulted in $1.73 million expenses during the nine months ended December 31, 2023 as compared to the same being gain and accounted
under other income during the nine months ended December 31, 2024. Additionally, note issue expenses reduced to Nil during the nine months
ending December 31, 2024, as compared to $1.56 million incurred during the nine months ended December 31, 2023. This decrease has been
partially offset by increase in the cost is primarily due to issuance cost on issuance of November 2024 and December 2024 private placement
offerings amounting to $ 2.87 million, $2.00 million in accrued interest on a redeemable promissory note and $0.40 million increase in
borrowing cost respectively during the three months ended December 31, 2024, compared to the three months ended December 31, 2023. This
increase has been partially offset

Gain on