Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 528

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 4
Chunk 528
---
 and social environment and
the current high level of government intervention and regulatory reform may lead to substantial new regulations and disclosure obligations,
which will likely result in additional compliance costs and could impact the manner in which Zoomcar operates its business in ways we
cannot currently anticipate. For additional information about our past financial performance, see “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” and our Unaudited Condensed Consolidated Financial Statements and
the Notes thereto included elsewhere in this Quarterly Report on Form 10-Q.

104

Risks Related to Ownership of Our Common Stock

Future sales of our Common Stock could cause
the market price for our Common Stock to decline.

We cannot predict the effect,
if any, that market sales of shares of our Common Stock or the availability of shares of our Common Stock, including upon exercise or
conversion of any of our outstanding securities, for sale will have on the market price of our Common Stock prevailing from time to time.
Sales of substantial amount of shares of our Common Stock on the public market, or the perception that those sales will occur, including
sales pursuant to this quarterly report, could cause the market price of our Common Stock to decline or be depressed.

As described elsewhere herein,
we expect to issue additional securities in the future to raise capital to continue our operations. Additionally, we may issue our securities
if we need to raise capital in connection with capital expenditure, working capital requirement or acquisition. The number of shares of
our Common Stock issued in connection with a capital expenditure, working capital requirement or acquisition could constitute a material
portion of our then-outstanding shares of Common Stock. Any perceived excess in the supply of our shares in the market could negatively
impact our share price and any issuance of additional securities in connection with investments or acquisitions may result in additional
dilution to you.

The market price and trading volume of our
Common Stock may continue to be highly volatile, which could lead to a loss of all or part of a stockholder’s investment.

The market price of our Common
Stock has fluctuated widely since the closing of our Business Combination. During the period from January 1, 2024 to April 30, 2025, the
trading price of our Common Stock has fluctuated from an intra-day high of $15,220 on January 12, 2024, to an intra-day low of $0.47 on
July 16, 2025.

The market price of our Common
Stock is affected by a variety