Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 469

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 469
---
 2,160,178  
     903,813  
     2,320,963 
  
    Other expense/(income), net 
     (1,657,647) 
     (28,007) 
     427,022  
     (1,031,781)
  
    Gain on troubled debt restructuring 
     -  
     (352,447) 
     (72,912) 
     (352,447)
  
    Adjusted EBITDA 
     (1,260,011) 
     (1,470,442) 
     (2,986,006) 
     (4,731,683)

Liquidity and Capital Resources

During the six months ended
on September 30, 2025, and 2024 respectively, we used cash flows from operations of $0.53 million and $ 2.50 million, respectively, reflecting
greater operating cost efficiencies and reduced overhead expenditures in 2025. The Company incurred a net loss of $5.00 million and $5.88
million during the six months ended on September 30, 2025, and 2024, respectively, and the accumulated deficit amounts to $338.17 million
and $313.44 million as of September 30, 2025, and 2024, respectively.

As of September 30, 2025,
our cash and cash equivalents totaled $0.17 million.

Our primary use of cash is
to fund our existing operations. If we have sufficient working capital, we will continue to invest in product development and in our technology
platform. We expect that our general and administrative expenses will be reduced on an absolute dollar basis due to our efforts to manage
cost, use of our cash effectively and improve profitability while managing our research and development programs. As on September 30,
2025, the Company’s cash position was critically deficient and critical payments to the operational and financial creditors of the
Company are not being made in the ordinary course of business, all of which raises substantial doubt about the Company’s ability
to continue as a going concern.

63

In October 2022, we entered
into a Business Combination Agreement (BCA) for merger with Innovative International Acquisition Corp. (“IOAC”) In October
2022, we entered into a note purchase agreement with Ananda small business trust, an affiliate of the SPAC sponsor. Ananda small business