Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1243

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 3
Chunk 1243
---
 to the Placement Agent and other offering expenses,
including legal fees payable to the Company’s and Placement Agent’s counsel, the net proceeds to the Company was approximately
$4.79 million. 

76

On January 31, 2025, the Company entered into
a securities purchase agreement, in connection with the second closing of the Offering (the “Second Closing”) pursuant to
a Confidential Private Placement Memorandum, dated December 3, 2024. The Securities were offered at a for an aggregate amount of $3 million;
provided, however, that the Company did not receive any cash proceeds with respect to Securities with a subscription price of $1.56 million
of such amount, as those Securities were issued in consideration for the settlement of litigation with a claimant. The Company received
balance net proceeds of approximately $1.25 million after the deduction of fees and expenses payable to the Placement Agent and other
offering expenses, including legal fees payable to the Company’s and Placement Agent’s counsel. 

The following table summarizes
our cash flows for the periods presented:

    Statements of Cash Flows Data: 
    For the Years Ended
 March 31, 

    2025  
    2024 
  
    Net cash used in provided by operating activities 
     (9,076,067) 
     (22,199,149)
  
    Net cash flows generated from investing activities 
     492,140  
     814 
  
    Net cash generated from financing activities 
     8,269,234  
     20,202,013 
  
    Effect of foreign exchange on cash and cash equivalents. 
     (9,415) 
     (194,275)
  
    Net decrease in cash and cash equivalents 
     (314,693) 
     (1,996,322)

Operating Activities

Net cash used in operating
activities was $9.08 million and $22.20 million for the year ended March 31, 2025, and March 31, 2024, respectively. The major drivers
contributing to the decrease of $13.12 million during the current financial year compared to previous financial year included the following:

 Decrease in net loss of $13.11 million after adjustments for non-cash
items. These adjustments include fair value changes in financial instruments, loss on Litigation settlement, loss on extinguishment
of liability, interest on redeemable promiss