Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 119

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 119
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|-------------------------------:|:----|:-----|-----------:|:----|:-------|:-----------|:--|:----|:-------|-----:|:--|
| Finance costs                    |     | $    |                       4,050,856 |     | $    | 8,392,470 |     | $      | (4,341,613 | ) |     |        |  -52 | % |     | $    |                      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, 202