Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 66

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 66
---
 non-substantive voting rights (i.e., an anti-abuse clause).

We consolidate VIEs in which Company
hold a variable interest and are the primary beneficiary. Company is the primary beneficiary because it has the power to direct the activities
of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that potentially
could be significant to the VIE and the right to receive benefits from the VIE that potentially could be significant to the VIE (benefits).
As a result, we consolidate the assets and liabilities of these consolidated VIEs.

The VIEs have been incorporated in their respective locations
to perform the business of providing mobility solutions to consumers and businesses.

The following table summarizes the assets and liabilities
related to the Company’s consolidated VIEs:

    December 31,
 2024  
    March 31,
 2024 
  
    Assets 

    Cash and Cash equivalents 
    $4,534  
    $11,888 
  
    Accounts receivable 
    $-  
    $7,341 
  
    Other current assets 
    $388  
    $3,868 
  
    Prepaid expenses 
    $-  
    $4,282 
  
    Property and equipment, net 
    $-  
    $41,849 
  
    Intangible assets, net 
    $-  
    $3,012 
  
    Long term Investments 
    $4,003  
    $4,112 
  
    Receivable from government authorities - non-current 
    $3,940  
    $18,126 

    Liabilities 

    Accounts payable 
    $382,947  
    $374,692 
  
    Contract Liabilities 
    $-  
    $3,755 
  
    Current portion of pension and other employee obligations 
    $78  
    $986 
  
    Other current liabilities 
    $141,756  
    $148,950 
  
    Pension and other employee obligations, less current portion 
    $-  
    $1,189 

45

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS (UNAUDITED)

Total investment in the VIEs is as follows:

  Name of the VIE entity   Place of incorporation   Nature of investment   Investor entity   Zoomcar Egypt Car Rental