Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 903

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1C
Chunk 903
---
 as derivative financial instruments under ASC 815- 10-15-83 upon initial recognition. Due to anti-dilution
and reset provisions, the exercise prices of Series A and Series B warrants were adjusted to the floor price during the year, and the
number of warrants was increased to maintain the aggregate exercise price. As a result, the number of exercisable warrants became fixed,
eliminating variability, and the outstanding Series A and Series B warrants were reclassified to equity at their respective reclassification
date fair values. Warrants exercised before reclassification were reclassified at their exercise date fair value, while those exercised
after were adjusted through additional paid-in capital. As of March 31, 2025, 1,103,832 Series A warrants exercisable at $16.12, 11,008,310
Series A warrants exercisable at $6.24 and 2,250,996 Series B warrants exercisable at $0.002 remained outstanding. A total of 56,074 shares
were issued upon Series A warrant exercises and 1,443,272 shares upon Series B warrant exercises. The Company recognized a gain of $9,035,085
from the change in fair value of these derivative instruments in the Consolidated Statements of Operations.         As of March 31, 2025, the Company has 1,909,833 number of restricted
shares and 552,585 number of unrestricted shares. 

F-35

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

24Revenue

The components of revenue, net were as follows:

    (In USD) 
    March 31, 2025  
    March 31, 2024 
  
    Revenue from services 

    Facilitation revenue (net) 
    $9,024,576  
    $9,836,434 

    Other operating revenues 
     81,315  
     60,799 
  
    Total 
    $9,105,891  
    $9,897,233 

    Revenue by geographical location 
     March
                                            31,
 2025  
     March
                                            31,
 2024 
  
    India 
    $9,088,885  
    $9,759,318 
  
    Egypt 
     13,094  
     114,680 
  
    Vietnam 
     -