Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 260

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 260
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 to redeemable promissory note holders                                                             |     |              |   2,047,925 |   |     |              |           - |   |
| Issue of common stock upon exercise of warrants issued with redeemable promissory notes                             |     |              |           5 |   |     |              |           - |   |
| Issue of common stock upon conversion of unsecured promissory note                                                  |     |              |   2,027,840 |   |     |              |           - |   |
| Warrants issued to placement agents towards issue of redeemable promissory notes                                    |     |              |     418,157 |   |     |              |           - |   |
| Warrants issued to placement agents                                                                                 |     |              |   1,257,449 |   |     |              |           - |   |
| Acquisition of assets held for sale by incurring a liability                                                        |     |              |     238,349 |   |     |              |             |   |

The accompanying notes are an integral part of these Condensed Consolidated Statements of Cash Flows F- 6 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

| 1. | Organization, Business operation and Going concern |

Zoomcar Holdings, Inc. (formerly “Innovative International Acquisition Corp”)a Delaware corporation provides mobility solutions to consumers and businesses.
The accompanying Condensed Consolidated Financial Statements include the accounts and transactions of Zoomcar Holdings, Inc. and its subsidiaries
(collectively, the “Company” or “the combined entity” or “Zoomcar”). The Company operates its facilitation
services under the Zoomcar brand with its operations in India.

Going concern

The accompanying Condensed Consolidated
Financial Statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the SEC. The Condensed Consolidated
Financial Statements have been prepared using U.S. GAAP applicable to a going concern that contemplates the realization of assets and
settlement of liabilities in the normal course of business. The Company incurred a net loss of $ and $ during the three
months and nine months ended December 31, 2024, and cash used in operations was $ for the nine months ended December 31, 2024.
The Company’s accumulated deficit amounts to $ (March 2024: $). The Company has negative working capital of
$ as on December