Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 541

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1
Chunk 541
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still provisions in agreements we entered into in connection with the November 7 Placement.

We are currently in the process
of negotiating settlements of claims against us by ACM, the terms of which could breach certain restrictive covenants in the Securities
Purchase Agreements we entered into with investors, and the Placement Agent Agreement we entered into with the Placement Agent, each in
connection with the November 7 Private Placement. These restrictive covenants prohibit us, subject to certain exceptions, from issuing
additional shares of Common Stock or securities convertible into or exercisable for shares of Common Stock (“Common Stock Equivalents”),
and from filing any registration statements to register for resale any of such securities, without the consent of the investors, who were
issued 50.1% of the securities issued in the November 7 Private Placement, and the Placement Agent. Since we expect to issue shares of
Common Stock and Common Stock Equivalents to ACM, in connection with a settlement to be entered into with ACM, and to register such shares
of Common Stock and shares of Common Stock underlying Common Stock Equivalents for resale in one or more registration statements, such
actions could result in a breach of these restrictive covenants and we could be liable for damages to the investors in the November 7th
Placement, and the Placement Agent, which could have a material adverse effect on our financial situation and operations.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds

There were no sales of equity
securities during the period covered by this Report that were not registered under the Securities Act and were not previously reported
in a Current Report on Form 8-K filed by the Company.

Item 3. Defaults Upon Senior Securities

There were no defaults upon
senior securities during the period covered by this Report.

121

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

As
of the end of the fiscal quarter ended December 31, 2024, none of the Company’s officers or directors are parties to any 10b5-1
Plan.

Item 6. Exhibits

The following exhibits are
filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q. 

    No.
     
    Description of Exhibit
  
    31.1*
     
    Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a),