Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 474

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part II, Item 1
Chunk 474
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 to meet its obligations and so that there will no longer be substantial
doubt about its ability to continue as a going concern. However, there is no assurance that the Company will be able to raise any such
financing or, even if it does, that it will be sufficient for it to meet its obligations or continue as a going concern.

The Company as of date of
this filing has $4.40 million of cash and cash equivalents

Accordingly, we believe that
additional funds will be imminently required to support current operations and, in the long term, the growth of our business.. Our operations
have consumed substantial amounts of cash, and we have incurred operating losses since we began operating in 2013. While our cash consumption
has been reduced following our business transition from short-term rental of vehicles owned by or leased to Zoomcar to an online platform
for peer-to-peer car sharing, we have consumed significant amounts of cash in effecting such transition in terms of technology and platform
innovation, and our cash consumption has varied over time. Our cash needs will depend on numerous factors, including our revenues, upgrade
and innovation of our peer-to-peer car sharing platform, customer and market acceptance and use of our platform, and our ability to reduce
and control costs. We expect to devote substantial capital resources to, among other things, fund operations, continued improvement, upgrading
or innovation of our platform, and expand our international outreach. If we are unable to secure such additional financing, it will have
a material adverse effect on our business, and we may have to limit operations in a manner inconsistent with our development.

86

Our operating and financial forecasts are
subject to various known and unknown contingencies and factors outside of our control and may not prove accurate, and we may not achieve
results consistent with management’s expectations. 

Our quarterly and annual
operating results have fluctuated in the past and are likely to fluctuate in the future. During any given period, our operating and financial
results may be influenced by numerous factors, many of which are unpredictable or are outside of our control. Additionally, our limited
operating history with our current peer-to-peer car sharing business model makes it difficult for us to forecast our future results and
subjects us to a number of uncertainties, including our ability to plan for and anticipate future growth. As a result, you should not
rely upon our past quarterly and annual operating results as indicators of future performance. We have encountered, and will continue