Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 935

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 935
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than 4.99% or 9.99% of the shares of Common Stock outstanding. Also issued along with the shares of Common Stock and/or the Pre-Funded
Warrants were (x) Series A Warrants to initially purchase up to an aggregate of 8,680,443 shares of Common Stock, subject to certain adjustments
and (y) Series B Warrants to initially purchase no shares of Common Stock, subject to certain adjustments as provided in the Series B
Warrants. As a result of the First Closing, the Company received $4,786,963 of cash and cash equivalents after giving effect to
offering fees and expenses. The Company believes that current cash and cash equivalents will allow the Company to continue operations
through December 2025, assuming that the Company makes no payments on its currently outstanding indebtedness and only pays current operating
accruals, however there can be no assurance that this will be the case. Even if our current cash position supports operations through
December 2025, we cannot assure that this cash will be sufficient in the longer run and we will be required to obtain a further infusion
of cash funds to support our operations or address the indebtedness, including through this offering. The Company will still need to seek
financing for the purpose of raising additional funds to be able 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