Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 95

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 95
---
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 troubled debt restructuring

    Three months ended December 31,  
    Nine months ended December 31, 

    2024  
    2023  
    Change  
    % Change  
    2024  
    2023  
    Change  
    % Change 
  
    Gain on troubled debt restructuring 
    $(124,299) 
    $-  
    $(124,299) 
     100% 
    $(476,746) 
    $-  
    $(476,746) 
     100%

Gain on troubled debt restructuring
during the three months ended December 31, 2024, was $0.12 million vs Nil during the three months ended December 31, 2023.

Gain on troubled debt restructuring
during the nine months ended December 31, 2024, was $0.48 million vs Nil during the nine months ended December 31, 2023.

Other (income) and expense, net

    Three months ended December 31,  
    Nine months ended December