Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 262

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 262
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 of common stock upon exercise of warrants issued                                                
 with redeemable promissory notes                                                                      |     |              |          93 |   |     |              |           - |   |
| Issue of common stock upon conversion of unsecured promissory                                         
 note                                                                                                  |     |              |   2,027,840 |   |     |              |           - |   |
| Warrants issued to placement agents towards issue of                                                  
 redeemable promissory notes                                                                           |     |              |     418,157 |   |     |              |           - |   |
| Warrants issued to placement agents                                                                   |     |              |   1,257,449 |   |     |              |           - |   |
| Acquisition of assets held for sale by incurring a liability                                          |     |              |     238,349 |   |     |              |           - |   |

The accompanying notes are an integral part of these Condensed Consolidated Statements of Cash Flows F-6 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED 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 Condensed 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 under the Zoomcar brand with its operations in India.

Going concern

The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the SEC. The Condensed Consolidated Financial Statements have been prepared using U.S. GAAP applicable to a going concern that contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company incurred a net loss of $ 7,922,063and $ 13,805,617during the three months and nine months ended December 31, 2024, and cash used in operations was $ 5,043,721for the nine months ended December 31, 2024. The Company’s accumulated deficit amounts to $ 321,357,118(March 2024: $ 307,551,501). The Company has negative working capital of $ 40,754,964as on December 31