Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 313

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 313
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issory notes                     |     |       |   3,953,856 |   |     |       |           - |   |
| Assumption of                                                             
 Unsecured promissory note on Reverse Recapitalization                     |     |       |   3,259,208 |   |     |       |             |   |
| Issue of common                                                           
 stock to vendors against services                                         |     |       |   1,952,000 |   |     | $     |           - |   |
| Issue of common                                                           
 stock upon conversion of warrants                                         |     |       |          31 |   |     |       |           - |   |

The accompanying notes are an integral part of these Consolidated Statement of Cash Flows F-59 ZOOMCAR HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 1. | Organization, Business operation 
 and Going concern.               |

Zoomcar Holdings, Inc. (formerly “Innovative International Acquisition Corp”)a Delaware corporation provides mobility solutions to consumers and businesses. The accompanying consolidated financial statements include the accounts and transactions of Zoomcar Holdings, Inc. and its subsidiaries (collectively, the “Company” or “the combined entity” or “Zoomcar”). The Company operates its facilitation services as well as rental business under the Zoomcar brand with its operations in India, Indonesia, and Egypt.

On December 28, 2023 (the “Closing Date”), pursuant to a Merger Agreement dated October 13, 2022 by and among Innovative International Acquisition Corp (“IOAC” or “SPAC”), Innovative International Merger Sub, Inc. and Zoomcar, Inc., the parties consummated the merger of Innovative International Merger Sub, Inc. with and into Zoomcar, Inc., with Zoomcar, Inc., continuing as the surviving corporation (the “Merger”), as well as the other transactions contemplated by the Merger Agreement (the Merger and such other transactions, the “Reverse Recapitalization”). In connection with the closing (the “Closing”) of the Reverse Recapitalization, Zoomcar, Inc. became a wholly owned subsidiary of IOAC and IOAC changed its name to Zoomcar Holdings, Inc., and all of Zoomcar, Inc. common stock, convertible preferred stock and convertible notes automatically converted into shares of the Company’s common stock having a par value of $ 0.0001per share. The Company’s Common Stock and Warrants commenced trading on the Nasdaq Global