Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 38

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 38
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 issued along with the shares of Common Stock and/or the Pre-Funded Warrants were (x) Series A Warrants to initially purchase up to an aggregate of 4,804,491 shares of Common Stock, which does not reflect the Second Reverse Split, subject to certain adjustments and (y) Series B Warrants to initially purchase no shares of Common Stock, subject to certain adjustments as provided in the Series B Warrants. As a result of the First Closing, the Company received $1,249,911 of cash and cash equivalents after giving effect to
offering fees and expenses.

We believe that the current
cash and cash equivalents will allow us to continue operations through April 2025 assuming we make partial payments on our currently outstanding
indebtedness and future accruals, however there can be no assurance that this will be the case. Accordingly, we believe that additional
funds will be imminently required to support current operations and, in the long term, the growth of our business (see the Risk Factor
above entitled - “This is a best-efforts offering. If we raise the maximum Offering amount of $30 million, we will need to raise additional capital to meet our business requirements in the future, and such capital raising may be costly or difficult to obtain and can be expected to dilute current stockholders’ ownership interests” above). Our operations have consumed substantial
amounts of cash, and we have incurred operating losses since we began operating in 2013. While our cash consumption has been reduced following
our business transition from short-term rental of vehicles owned by or leased to Zoomcar to an online platform for peer-to-peer car sharing,
we have consumed significant amounts of cash in effecting such transition in terms of technology and platform innovation, and our cash
consumption has varied over time. Our cash needs will depend on numerous factors, including our revenues, upgrade and innovation of our
peer-to-peer car sharing platform, customer and market acceptance and use of our platform, and our ability to reduce and control costs.
We expect to devote substantial capital resources to, among other things, fund operations, continued improvement, upgrading or innovation
of our platform, and expand our international outreach. If we are unable to secure such additional financing, it will have a material
adverse effect on our business, and we may not be able to meet our obligations or continue as a going concern.

Our operating and financial forecasts are subject to various known and unknown contingencies and factors outside of our control and may not prove