Financial Position - Total current assets decreased from $5,059,696 to $2,639,787, a decline of approximately 48%[20] - Cash and cash equivalents dropped from $1,496,144 to $614,206, representing a decrease of about 59%[20] - Current liabilities increased from $31,296,055 to $37,655,737, an increase of approximately 20%[20] - Total liabilities decreased from $42,864,786 to $38,948,254, a reduction of about 9%[20] - The accumulated deficit grew from $(307,551,501) to $(313,435,055), an increase of approximately 2%[20] - The company reported a total stockholders' deficit of $(32,758,818) as of September 30, 2024, compared to $(33,692,188) on March 31, 2024[20] - The company has negative working capital of $35,015,950 as of September 30, 2024, raising substantial doubt about its ability to continue as a going concern[35] - As of September 30, 2024, total equity deficit stands at $(32,758,818) with accumulated deficit of $(313,435,055)[24] Revenue and Expenses - Total revenue for the three months ended September 30, 2024, was $2,246,897, a decrease of 16.2% compared to $2,681,008 for the same period in 2023[21] - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(3,351,975), compared to $(12,402,287) for the same period in 2023[22] - Total costs and expenses for the six months ended September 30, 2024, were $9,434,701, down from $17,097,303 for the same period in 2023, representing a reduction of 44.5%[21] - The company reported a loss from operations before income tax of $(1,572,251) for the three months ended September 30, 2024, compared to $(4,298,695) for the same period in 2023[21] - Comprehensive loss for the three months ended September 30, 2024, was $(3,316,834), compared to $(12,346,404) for the same period in 2023[22] - Cost of revenue for the three months ended September 30, 2024, was $1,213,422, a significant decrease from $2,737,486 for the same period in 2023[21] - Technology and development expenses for the three months ended September 30, 2024, were $734,920, down from $919,859 for the same period in 2023[21] Cash Flow - Cash used in operating activities for the six months ended September 30, 2024, was $2,496,568, down from $10,214,140 in the prior year, reflecting a decrease of about 75.5%[25] - The company reported a net cash generated from investing activities of $384,825 for the six months ended September 30, 2024, compared to a net cash used of $73,180 in the same period of 2023[25] - The company had a cash position of $614,206 at the end of the period, a decrease from $3,846,543 at the beginning of the period, representing a decline of approximately 84%[26] Shareholder Information - The company has 757,494 shares issued and outstanding as of September 30, 2024, up from 631,859 shares on March 31, 2024[20] - Additional paid-in capital increased from $272,063,258 to $276,854,023, an increase of approximately 2.9%[20] - The weighted average shares used in computing loss per share for the three months ended September 30, 2024, were 756,980, compared to 4,828 for the same period in 2023[21] - The company issued common stock upon conversion of unsecured convertible notes amounting to $2,324,683 during the reporting period[26] Debt and Liabilities - The company has a current portion of long-term debt of $3,663,830, down from $5,049,483, a decrease of about 27%[20] - The company has defaulted on equated monthly installments (EMI) payments totaling $5,804,548, which includes $1,781,841 of defaulted lease rentals, as of September 30, 2024[154] - The company has defaulted on all debt obligations totaling $1,577,289 owed to various lenders[168] - The outstanding balance of the redeemable promissory note was $3,750,000 as of September 30, 2024, including $150,000 interest accrued[174] Operational Changes - The Company has closed down operations for PT Zoomcar Indonesia Mobility Services and Zoomcar Egypt Car Rental LLC due to decreased bookings and rising economic difficulties[53] - The company has not paid any incentives to hosts during the three and six months ended September 30, 2024, as part of its marketing strategy[62] - The company has entered into negotiations with lenders to restructure payment terms and resolve outstanding claims[168] Accounting and Reporting - The Company has determined it has one operating and reportable segment, with financial information reviewed on a consolidated basis[111] - The company is evaluating the potential effects of new accounting standards updates issued by the FASB, with no immediate material impact expected on financial statements[116] - The company has classified its debt into current and non-current obligations based on payment terms, with non-current obligations maturing beyond twelve months[80] Miscellaneous - The company recorded a gain on employee benefit of 19,604, net of taxes[24] - The company recorded a net gain of $236,447 during the three months ended September 30, 2024, due to negotiations with vendors resulting in short-term deferrals or reductions in outstanding liabilities[163] - The company recognized a loss of $390,218 and a gain of $970,020 for the three months and six months ended September 30, 2024, due to changes in the fair value of the Atalaya Note[186]

Core Viewpoint - Zoomcar Holdings, Inc. has successfully closed a private placement with institutional investors, raising a total of $9.15 million, which will be used to repay debt and for general corporate purposes [1][2]. Group 1: Private Placement Details - The private placement resulted in the issuance of 2,137,850 units at an effective price of $4.28 per unit, each unit consisting of one share of common stock (or one pre-funded warrant), two Series A warrants, and one Series B warrant [2]. - The Series A warrants are exercisable for up to 4,275,700 shares of common stock at an initial exercise price of $4.03 per share, with a term of 5 years [2]. - The Series B warrants have an exercise price of $0.0001 and are subject to adjustments based on future dilutive issuances and reverse stock splits [2]. Group 2: Use of Proceeds - The net proceeds from the private placement will be utilized to repay approximately $3.8 million of outstanding indebtedness and the remainder will be allocated for general corporate purposes and working capital [1]. Group 3: Regulatory and Compliance Information - Aegis Capital Corp. acted as the Exclusive Placement Agent for the private placement, which was conducted under exemptions from the registration requirements of the Securities Act of 1933 [3]. - The company has agreed to file registration statements with the SEC covering the resale of the common stock sold in the private placement and the common stock issuable upon exercise of the warrants [3]. Group 4: Company Overview - Zoomcar, founded in 2013 and headquartered in Bengaluru, India, is a leading marketplace for self-drive car sharing, connecting Hosts with Guests for affordable car rental options [5].

BANGALORE, India, Nov. 6, 2024 /PRNewswire/ -- Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), the Nasdaq-listed leading marketplace for self-drive car sharing, today announced the pricing of a private placement with certain institutional investors. The aggregate gross cash proceeds are expected to be $9.15 million, before deducting fees to the placement agent and other offering expenses payable by the Company. The Company intends to use the net proceeds from the private placement to rep ...

Core Viewpoint - Zoomcar Holdings, Inc. is significantly enhancing its customer support capabilities by doubling its support team and implementing a multi-channel support model to improve service quality and address customer feedback [1][3]. Group 1: Customer Support Expansion - The company has doubled its customer support team to provide faster and more efficient assistance for both Hosts and Guests [1]. - A new initiative, the Host Success Team, has been launched to assist new Hosts in onboarding their vehicles and optimizing their earnings [2]. - The multi-channel support model now includes inbound and outbound calls, chatbot-based ticketing support, and a Generative AI Assistant offering 24x7 assistance [3]. Group 2: Impact and Performance - The enhanced customer support framework has resulted in a 50% reduction in in-app escalations, with further improvements anticipated as new measures are fully implemented [3]. - The CEO of Zoomcar highlighted significant profitability improvements in recent months, which have allowed for reinvestment in customer support expansion [4]. Group 3: Company Overview - Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for car sharing, connecting Hosts with Guests for affordable vehicle use [4].

Core Insights - Zoomcar Holdings, Inc. will participate in The ThinkEquity Conference on October 30, 2024, in New York, showcasing its position in the self-drive car sharing market [1] - The conference aims to connect institutional investors, corporate clients, and industry professionals to discuss innovations and financial strategies [1][3] Company Overview - Zoomcar, founded in 2013 and headquartered in Bengaluru, India, is a leading marketplace for car sharing, focusing on affordable and sustainable transportation solutions [4] - The platform connects Hosts with Guests, allowing users to select from a variety of cars [4] Event Details - Hiroshi Nishijima, Interim CEO of Zoomcar, and Uri Levine, Strategic and Financial Advisor, will present at 08:00 am ET on October 30, 2024, and will hold one-on-one investor meetings throughout the day [2] - Interested investors can register for the conference and schedule meetings [2] ThinkEquity Conference Background - ThinkEquity is a boutique investment bank that has facilitated over $50 billion in public and private capital raises, restructurings, and mergers and acquisitions [3] - Previous conferences have featured over 70 company presentations and attracted more than 700 attendees, providing a platform for networking and investment opportunities [3]

Company Overview - Zoomcar Holdings, Inc. is a leading marketplace for self-drive car sharing, founded in 2013 and headquartered in Bengaluru, India [4] - The company connects Hosts with Guests, offering a selection of cars for affordable use, promoting sustainable transportation solutions in India [4] Upcoming Financial Results - Zoomcar plans to report its financial and operating results for the second quarter ending September 30, 2024, before markets open on November 14, 2024 [1] - The financial results will be available on the company's Investor Relations website [1] Live Webinar Details - Company management will host a live Zoom Webinar on November 14, 2024, at 11:30 am Eastern Time to discuss the financial results and provide corporate updates [2] - A link to the webinar will be posted on the company's investor relations website prior to the event [2] Investor Engagement - Investors and analysts can submit questions to management via email by 1:00 pm ET on November 11, 2024 [3]

Core Insights - Zoomcar Holdings, Inc. has achieved a significant milestone in its debt restructuring process aimed at reducing approximately $31 million in debt obligations as of June 30, 2024 [1][2] - The company has negotiated with lenders and vendors to convert about 75% of the immediately payable debt into a deferred payment schedule of up to 24 months or reduced payouts of up to half the outstanding amount [2] - The completion of the debt restructuring is expected by the end of November 2024, which will allow Zoomcar to invest in strategic initiatives for long-term sustainability [2][3] Company Performance - The CEO of Zoomcar emphasized that the company's business fundamentals are strong and that the debt restructuring is a crucial step towards long-term success [3] - The company is focused on sustainable growth and fulfilling financial obligations to maintain trust with partners and customers [3] Market Positioning - Zoomcar is enhancing customer experience, expanding its vehicle fleet, and driving technological innovations to build on its market leadership [4] - With ongoing initiatives and a clear path toward financial stability, Zoomcar believes it is well-positioned to accelerate its growth trajectory [4] Company Background - Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for car sharing in India, connecting Hosts with Guests for affordable car rentals [5]

Company Overview - Zoomcar is a leading marketplace for self-drive car sharing, founded in 2013 and headquartered in Bengaluru, India, promoting sustainable transportation solutions [5] Annual Meeting Update - The Annual Meeting of Stockholders, originally scheduled for September 26, 2024, has been adjourned to October 1, 2024, at 10:00 AM ET [1] - The adjournment allows additional time for stockholders to cast their votes on proposals outlined in the proxy materials [2] Stockholder Participation - Stockholders as of the close of business on July 29, 2024, are entitled to participate in the Annual Stockholders Meeting [2] - Zoomcar encourages stockholders to actively participate and exercise their voting rights, with options to vote prior to or during the meeting [3]

BENGALURU, India, Sept. 17, 2024 /PRNewswire/ -- Zoomcar, Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), the NASDAQ-listed leading marketplace for self-drive car sharing, announced that it will hold its first Annual Stockholder Meeting on September 26, 2024. The meeting will be held virtually, allowing stockholders to participate from anywhere, beginning at 10:00 AM EST. As described in the proxy materials previously distributed, stockholders as of the close of business on July 29, 2024 ...

BENGALURU, India, Sept. 11, 2024 /PRNewswire/ -- Zoomcar, Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), the NASDAQ-listed leading marketplace for self-drive car sharing, is thrilled to announce its partnership with Mappls MapmyIndia, India's pioneering and leading deep-tech digital mapping, geospatial software and location-based IoT company. This unique collaboration enables users to seamlessly book a Zoomcar while getting their trips planned with the Mappls app, significantly enhancin ...