Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1917

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 1917
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 March 31, 2024, respectively. The Company believes these orders are unlikely to be sustained at the higher appellate authorities.

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F-52

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

    35
    Subsequent events

(A) On May 6, 2025, the Company received a notice of delisting from the Nasdaq Stock Market. Suspension of trading in the Company’s common stock was effective at the open of trading on May 8, 2025. In connection with the delisting, the Company’s securities commenced quotation on the OTC Markets Group platform. Effective May 8, 2025, the Company’s common shares began trading on the OTCQX Best Market under the ticker symbol “ZCAR”, and its warrants began trading on the OTCQB Venture Market under the ticker symbol “ZCARW”.

(B) On April 22, 2025, the Company entered into a settlement agreement with Siddhartha Assets to settle payables related to it’s operating leases. They have granted a short-term deferral in payments and reduction in the outstanding liability. As per the terms, the outstanding liability shall be settled in four monthly installments starting from April 2025. If the Company defaults, penalty as specified in the agreement shall be payable for every defaulted installment until realisation of the entire settlement amount.

(C) During the year, a Supreme Court of the state of New York order
was received towards settlement of litigation with ACM Zoomcar Convert LLC, ordering $6,002,269 payable by the Company immediately. On
April 22, 2025, the Company filed an appeal with the Supreme Court of the state of New York contesting the order for settlement. The Company
is currently awaiting the Court’s ruling on the appeal.

(D) On June 6, 2025, the Company entered into settlement arrangements
with certain accredited investors, pursuant to which the Company agrees to issue an aggregate of 1,950,600 pre-funded warrants with a
total value of $3,023,400 to the investors, in full settlement of liquidated damages claims. These Settlement Warrants, exercisable at
$0.0001 per share, were valued based on the volume-weighted average price of the Company’s common stock over the five trading days
preceding the settlement date. 

 The warrants are exercisable at any time (including cashless exercise), subject