Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 55

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 55
---
 Assets held for sale 
    $266,450  
    $   -  
    $266,450  
    $- 
  
    Liabilities: 

    Atalaya Note 
    $6,136,851  
    $-  
    $-  
    $6,136,851 

    March 31, 2025 

    Total
 Carrying
 value  
    Level 1  
    Level 2  
    Level 3 
  
    Assets: 

    Assets held for sale 
    $267,293  
    $ -  
    $267,293  
    $- 
  
    Liabilities: 

    Atalaya Note 
    $6,002,269  
    $-  
    $-  
    $6,002,269 

Level 2: The fair value of Assets held for sale
not traded in an active market is determined using the quoted prices in markets that are not active or inputs other than the quoted prices
that are observable either directly or indirectly considering all the relevant factors of assets.

40

ZOOMCAR HOLDINGS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Atalaya Note

On March 28, 2025, a court order was received for settlement of the
Atalaya note. As of March 31, 2025, the Company’s fair value measurement of its Atalaya note reflects the carrying amount, as the
obligation is immediately payable and no market premium or discount is applicable. This measurement is classified as Level 3 in the fair
value hierarchy, with no valuation adjustments made due to the immediacy of settlement.

The changes in the fair value are summarized below:

    Unsecured  Convertible Note  (‘Atalaya Note’) 

    Balance as of April 1, 2024 
    $10,067,601 
  
    Shares issued to Atalaya Note holders 
     (2,324,696)
  
    Change in fair value of unsecured convertible note 
     (1,360,238)
  
    Balance as of June 30, 2024 
    $6,382,667 

    Balance as of April 1, 2025 
     6,002,269 
  
    Change in fair value of derivative financial instruments