Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 104

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 104
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 an aggregate of 6,706,192 shares of Common
Stock at an exercise price of $6.24 per share, which takes into account a “share combination event” adjustment effective following
the issuance of such warrants as a result of the Reverse Split (the “Series A Warrants”) and (ii) Series B Warrants to purchase
initially no shares of Common Stock and then up to a maximum of 2,004,955 shares of Common Stock subject to certain adjustments, at an
initial exercise price of $0.002.

On June 24, 2025, the Company issued a bridge
note to certain investors totaling $402,000 at a discount of $42,000. The note is repayable in five monthly installments beginning
November 30, 2025, and maturing on March 31, 2026, with interest accruing at 12% per annum on the outstanding principal. The Company
received net proceeds of $350,000 after adjusting issuance cost of $10,000.

We believe that the current cash and cash equivalents
will allow us to continue operations through September 30, 2025 assuming do not make any payments on our currently outstanding indebtedness
and future accruals, however there can be no assurance that this will be the case. Accordingly, we believe that additional funds will
be required to support 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 not be able to meet our obligations or continue as a going concern.

Our Common Stock is