Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 997

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 997
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 and uncertainties
described herein.

87

We have a history of operating losses and
negative cash flow, we have limited cash resources, we will need to raise additional funds imminently to finance operations and as a result
there is substantial doubt about our ability to continue as a going concern. 

We have a history of operating
losses and expect to continue incurring operating losses in the foreseeable future as we continue to develop our current business model
and enhance our platform offerings. We also have indebtedness that is in default in excess of our current capital resources (see “Management’s
Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources” in our Form
10-Q for the six months ended September 30, 2025). On June 18, 2024, the Company entered into a securities purchase agreement with
certain institutional accredited investors (the “June Aegis Securities Purchase Agreement”) pursuant to which the Company
issued and sold an aggregate of $3,600,000 in principal amount of notes (the “June Notes”) and warrants to purchase
up to an aggregate of 1,267,728 shares of Common Stock (which takes into account an adjustment following the Company’s Share Combination
Event that was effective on October 22, 2024) (the “June Warrants”) for gross proceeds of $3,000,000.

Additionally, on November
7, 2024, the Company closed the November 7 Placement for gross proceeds of $9.15 million (including $2.5 million of which was provided
by one of the Company’s directors) (before deduction of fees to the placement agent and other offering expenses payable by the Company).
The Placement Agent in this Offering acted as exclusive placement agent in the November 7 Placement. At closing of the November 7 Placement,
the Company issued an aggregate of 2,137,850 units at a price of $4.28 per unit, each unit consisting of one share of Common Stock (or
pre-funded warrant in lieu thereof), two November Series A Warrants (as hereinafter defined) each to purchase one share of Common Stock
and a November Series B Warrant (as hereinafter defined) to purchase such number of shares of Common Stock, as determined on the November
Reset Date, which does not reflect the Second Reverse Split. As a result of the November 7 Placement, the Company received $3.62 million
of cash and cash equivalents after giving effect