Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 54

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 54
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options and warrants are all currently out of the money (other than the Series B Warrants, which all have an exercise price of $0.0001
per share), the mere existence of a significant number of shares of Common Stock issuable upon exercise of these securities
may be perceived by the market as having a potential dilutive effect, which could lead to a decrease in the price of our Common Stock.

Our success depends upon our ability to maintain favorable customer reviews and ratings, and if our reputation suffers, our business, financial condition and operating results may be adversely affected.

We have a customized rating
and review system connected to our search-and-ranking-base algorithm in order to provide a more holistic, more relevant overall search
experience for the Guests. By combining Host ratings and reviews into the overall sort algorithm, our platform is able to highlight particular
Hosts who are more likely to receive bookings. The reliable and trustworthy ratings and reviews of our Hosts and Guests are crucial to
our business, which will to a substantial extent affect our Hosts and Guests’ determination as to whether to utilize the platform
to book cars.

Monitor the rating and review
system on an ongoing basis to enforce quality standards and build trust among members of our community. We have procedures in place to
combat fraud or abuse of our rating and review system, but there is no assurance that these procedures are or will be effective, or at
all. Further, Hosts and Guests can leave reviews or ratings on third-party platforms or websites, which are out of our control and off
platform reviews and ratings or other statements about the platform, or a business or brand may have adverse impact on our business operations.
If any Hosts and Guests leave negative ratings and reviews, it may not only cause a decrease in the number of existing Hosts and Guests,
but also may negatively affect acquisitions of new Hosts and Guests, which may adversely affect our business, financial conditions and
results of operations. Unreliable ratings and reviews could also make it more difficult for us to enforce quality standards, which could
damage our reputation and reduce trust within our community.

Additionally, our ability
to attract and retain Hosts and Guests is dependent in part on our ability to provide high-quality customer support services. Hosts and
Guests depend on our customer support centers to resolve any issues relating to our platform both during and after their trips. As we
continue to grow our business and improve our platform, we will face challenges related to providing high-quality support services at
scale.