Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 94

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 94
---
% 
    $6,127,161  
    $13,628,832  
    $(7,501,671) 
     -55%
  
    Finance costs to related parties 
    $-  
    $12,426  
    $(12,426) 
     -100% 
    $-  
    $38,203  
    $(38,203) 
     -100%

Finance costs were $4.05 million during the three months ended December
31, 2024, as compared to $8.39 million during the three months ended December 31, 2023, a decrease of $4.34 million, or 52%. This decrease
is due to Non-cash expenses related to change in fair valuation of preferred stock warrants amounting to $5.70 million recognized during
three months ended December 31, 2023, which was converted into equity at the close of deSPAC in the fiscal year ending March 31, 2024,
one time discount on issuance of unsecured convertible note accounted as expenses amounting to $0.63 million during December 31, 2023
and change in the fair value of unsecured convertible note (Atalaya note) was $0.24 million during three months ended December 31, 2024
as compared to $1.73 million during the three months ended December 31, 2023. This decrease is partially offset by increase in the cost
of issuance cost of November 2024 and December 2024 private placement offerings amounting to $ 2.87 million respectively and $0.53 million
in accrued interest on a redeemable promissory note during the three months ended December 31, 2024, compared to the three months ended
December 31, 2023. Other borrowing cost has increased by $0.09 million during three months ended December 31, 2024 as compared to the
same period ending December 31, 2023.

61

Finance costs were $6.13
million during the nine months ended December 31, 2024, as compared to $13.63 million during the nine months ended December 31, 2023,
a decrease of $7.50 million, or 55%. This decrease is due to Non-cash expenses related to change in fair valuation of derivative financial
instrument, preferred stock warrant were $3.47 million and $5.