Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 910

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 910
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for the nine months ended December 31, 2024, as compared to Net cash used for investing activities totaled $0.06 million during the same
period in 2023. The increase in cash generated during the nine months ended December 31, 2024, is largely attributable to receipt of proceeds
from maturity of investment in fixed deposits during the current nine months as compared use of proceeds to investment in fixed deposits
during the nine months ended December 31,2023.

Financing Activities

Net cash generated from financing activities totaled $7.70 million
and $11.20 million during the nine months ended December 31, 2024, and December 31, 2023, respectively. The Company received proceeds
from issue of redeemable promissory notes $3.00 million out of which note issuance expenses of $0.49 million has been paid, issuance of
equity and warrants amounting to $14.63 million out of which $2.18 million paid in relation to issuance expenses of equity and warrants,
and repayment of redeemable promissory note of  $3.80 million, debt repayments and principal payment of finance lease obligations
totaled to $3.46 million during the nine months ended December 31, 2024 as compared to proceeds from the issuance of Senior Subordinated
convertible promissory note of $13.18 million which was partly offset by note issuance cost, debt repayments and principal payment of
finance lease obligations totaled to $1.37 million, during the nine months ended December 31, 2023. As the Company’s cash position
decreased, critical payments and debt repayments were not being made in the ordinary course of business.

Contractual Obligations and Commitments

Contractual obligations are
cash amounts that we are obligated to pay as part of certain contracts that we have entered into during the normal course of business.

69

Below is a table that shows
our contractual lease obligations as of December 31, 2024:

    December 31,
                                                                                2024

    Maturities of lease liabilities are as follows:
     
    Operating Leases

    Finance Leases

    2025
     
    $
    80,245

    $
    4,817,953

    2026

    336,564

    73,401

    2027

    352,926

    0