Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 995

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 995
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 Stock at a current exercise price of $0.002
per share,

All Series B Warrants issued
in the December Offering, the January/February Offering and the March Offering are exercisable for the maximum number of shares of Common
Stock, because on March 18, 2025 the Board determined to fix the “Reset Price” of all of such Series B Warrants down to the
“Floor Price” of $6.24 per share. The Company has agreed to deem the “Reset Date” of the Series B Warrants to
be effective.

Because the market for our
Common Stock is thinly traded, the sales and/or the perception that those sales may occur, could adversely affect the market price of
our Common Stock. Furthermore, even though, as of the date hereof, the options and warrants are all currently out of the money (other
than the Series B Warrants, which all have an exercise price of $0.002 per share), the mere existence of a significant number of shares
of Common Stock issuable upon exercise of these securities may be perceived by the market as having a potential dilutive effect, which
could lead to a decrease in the price of our Common Stock.

86

Risks related to our Business and Operations

Our current business model’s limited
operating history and financial results make our future results, prospects, and the risks we may encounter difficult to predict. 

Although Zoomcar commenced
operating in 2013, we have recently transitioned from a prior business model to our current business model, consisting of our asset-light
online platform for peer-to-peer car sharing. As a result of this transition, certain components of our financial statements have experienced
variation, and our operating history may not be indicative of our future growth or financial results. The limited history of our current
business model makes predicting our future operating and other results difficult, if not impossible, and there is no assurance that we
will be able to grow our revenues in future periods. Our results of operations are impacted by a number of factors, some of which are
beyond our control, and we may suffer adverse impacts to our further development as a result of circumstances which include decreasing
customer demand, increasing competition, declining growth of the car sharing industry in general, insufficient supply of vehicles on our
platform, or changes in government policies or general economic conditions. We will continue to develop and improve the features, functions,
technologies, and other offerings on our platform to increase our Guest and Host