Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 317

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 317
---
 2025, in relation to November Offering, the December Offering and the January/February Offering, to register for resale a total of 6,682,720shares of Common Stock (or 133,654,397shares of Common Stock prior to giving effect to the Second Reverse Split) including shares issuable upon exercise of outstanding warrants. The registration statement is still pending and a large number of such Registrable Securities continue to be unregistered. Pursuant to the terms of with registration rights agreement, the investors in these offerings have a claim for breach of contract and for liquidated damages and may claim breach of contract due to the failure relating to the filing and effectiveness of the resale registration statement. These investors are entitled to liquidated damages at a rate of 2% per month of the subscription amount per investor (total subscription amount $ 8.48million), payable on the "Event Date" as defined in the registration rights agreements and accruing monthly until the issue is resolved. Liquidated damages began accruing as early as January 13, 2025. In accordance with the agreement, the event that determined the start date for the accrual of these charges was established after the issuance of these condensed consolidated financial information (unaudited). If payments are delayed by seven days, Company must pay 15% annual interest until all dues are cleared.

(This space has been left intentionally blank) F-52 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Board of Directors and Shareholders
Zoomcar Holdings, Inc. Opinion on the financial statements We have audited the accompanying consolidated balance sheets of Zoomcar Holdings, Inc. and subsidiaries (the “Company”) as of March 31, 2024 and 2023, the related consolidated statements of operations, comprehensive loss, redeemable noncontrolling interests, mezzanine equity and stockholders’ equity, and cash flows for each of the two years in the period ended March 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended March 31, 2024, in conformity with accounting principles generally accepted in the United States of America. Going concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As