Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 933

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 933
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;

    ●
    facilitate sufficient bookings to become profitable in the near-term if at all;

    ●
    attract increasing numbers of Hosts and Guests within our current market and future potential additional markets;

    ●
    increase penetration within our current markets through continued improvements in vehicle density, platform features and strategic marketing efforts;

    ●
    enable us to successfully execute our business plans;

    ●
    enhance our brand recognition and awareness;

    ●
    acquire new Hosts and Guests by increasing our market penetration with deeper market coverage;

    ●
    develop new platform functionality and features that enhance our ability to retain Guests and Hosts;

    ●
    develop, improve, or innovate our proprietary technology that allows for a sustainable competitive advantage;

    ●
    attract, retain, and manage a sufficient staff of management and technology personnel; or

    ●
    respond effectively to competitive pressures.

85

We have a history of operating losses and
negative cash flow, we have limited cash resources, we will need to raise additional funds imminently to finance operations and as a result
there is substantial doubt about our ability to continue as a going concern. 

We have a history of operating
losses and expect to continue incurring operating losses in the foreseeable future as we continue to develop our current business model
and enhance our platform offerings. We also have indebtedness that is in default in excess of our current capital resources (see “Management’s
Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” in our Form
10-Q for the quarter ended December 31, 2024). On June 18, 2024, the Company entered into a securities purchase agreement with
certain institutional accredited investors (the “June Aegis Securities Purchase Agreement”) pursuant to which the
Company issued and sold an aggregate of $3,600,000 in principal amount of notes (the “June Notes”) and warrants to
purchase up to an aggregate of 1,267,728 shares of Common Stock (which takes into account an adjustment following the Company’s
Share Combination Event that was effective on October 22, 2024) (the “June Warrants”) for gross proceeds of $3,000,000.

Further, on November 7, 2024,
the Company closed the November 7 Placement for gross proceeds of $9.15 million (including $2.5 million of which was provided by one of
the Company’s directors) (before deduction of fees