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ZCAR on OTC

Zoomcar Holdings, Inc.

Zoomcar Holdings, Inc. is an American auto rental and leasing services company based in Bangalore.1 Its shares trade on OTC under the symbol ZCAR.1

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Last updated Oct 21, 2026.

Overview

$9.2MRevenue, fiscal 20262
-$14.6MNet income, fiscal 20262

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  • TickerZCAR on OTC1
  • IndustryServices-Auto Rental & Leasing (No Drivers)1
  • HeadquartersDE1
  • Incorporated inDE3
  • Business addressAnjaneya Techno Park, No.147, 1St Floor, Kodihalli, Bangalore, K7 5600083
  • Filer category, Emerging growth company3
  • Legal formCorporation

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(“Guests”) to connect and share the use of a Host’s car, made available to Guests at mutually convenient locations.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-73.9%Operating margin2
-159.7%Net margin2
0.6%Revenue growth, 20262
-$1.4MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Facilitation Revenue brought in 50% of the revenue Zoomcar Holdings, Inc. broke down this way in fiscal 2026.

  1. Facilitation Revenue$9.1M250%up 1% from 2025
  2. Revenues From Services$9.1M250%up 1% from 2025
  3. Other Operating Revenues$83.8K20%up 3% from 2025
  4. Other Revenues$83.8K20%up 3% from 2025
Products and services by year
Products and services20252026
Facilitation Revenue$9.0M$9.1M
Revenues From Services$9.0M$9.1M
Other Operating Revenues$81.3K$83.8K
Other Revenues$81.3K$83.8K

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue48¢$4.4M
  • Research and development29¢$2.7M
  • Other costs23¢$2.1M

Out of $9.2M in revenue.2 The company lost money this year.

Financial statements

Revenue52$9.2M in 2026+4% since 2023
0$2.5M$5.0M$7.5M$10.0M2023: $8.8M$8.8M20232024: $9.9M$9.9M2024+12%2025: $9.1M$9.1M2025−8%2026: $9.2M$9.2M2026+1%
Operating income6572-$6.8M in 2026−16% since 2022
-$40.0M-$30.0M-$20.0M-$10.0M02022: -$8.0M-$8.0M20222023: -$36.5M-$36.5M2023+355%2024: -$31.7M-$31.7M2024−13%2025: -$10.4M-$10.4M2025−67%2026: -$6.8M-$6.8M2026−35%
Net income6572-$14.6M in 2026+216% since 2022
-$80.0M-$60.0M-$40.0M-$20.0M02022: -$4.6M-$4.6M20222023: -$62.0M-$62.0M2023+1241%2024: -$34.3M-$34.3M2024−45%2025: -$25.6M-$25.6M2025−25%2026: -$14.6M-$14.6M2026−43%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2026-03-312025-03-31
Total revenue$9.2M$9.1M
Cost of revenue$4.4M$5.3M
Technology and development$2.7M$3.0M
Sales and marketing$657.0K$1.5M
General and administrative$8.2M$9.8M
Total costs and expenses$15.9M$19.5M
Loss from operations before income tax-$6.8M-$10.4M
Finance costs$3.2M$8.6M
Gain on troubled debt restructuring-$72.9K-$1.2M
Other (income)/expense, net$4.7M$7.8M
Loss before income taxes-$14.6M-$25.6M
Net loss attributable to common stockholders-$14.6M-$25.6M
Basic (in Dollars per share)-$1.28-$52.28
Diluted (in Dollars per share)-$1.28-$52.28
Basic (in Shares)11.5M shares490.1K shares
Diluted (in Shares)11.5M shares490.1K shares

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Corporate structure

Zoomcar Holdings, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Zoomcar Holdings, Inc.

  • Zoomcar Holdings, Inc. DE

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Zoomcar Holdings, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$720.3K2 Mar 31, 2026$2.9M2 Mar 31, 2025−74.8%
Property and equipment, net$153.5K2 Mar 31, 2026$327.1K2 Mar 31, 2025−53.1%
Operating-lease assets (leased space)$739.7K2 Mar 31, 2026$1.0M2 Mar 31, 2025−27.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$328.6K2 Mar 31, 2026$1.1M2 Mar 31, 2025−69.5%
Long-term investments$21.1K2 Mar 31, 2026$25.7K2 Mar 31, 2025−17.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$2.0K2 Mar 31, 2026$5.5K2 Mar 31, 2025−63.5%
Finite-lived intangibles, gross$14.8K2 Mar 31, 2026$16.4K2 Mar 31, 2025−9.4%
Accumulated amortization$12.9K2 Mar 31, 2026$10.9K2 Mar 31, 2025+17.5%
Finite-lived intangibles, net$2.0K2 Mar 31, 2026$5.5K2 Mar 31, 2025−63.5%

Properties, in its own words

Our corporate headquarters is located at Anjaneya Techno Park, No.147, 1st Floor, Kodihalli, Bangalore, India 560008, where we lease approximately 19,200 sq ft within a multi-tenant building pursuant to a lease agreement that expires in April 2029. We also had leased/rented office spaces in Jakarta, Indonesia, and Cairo, Egypt but following cessation of operations in those jurisdictions, each of those leases have been terminated. We believe our facilities are adequate and suitable for our current needs, and that should it be needed, suitable additional or alternative space will be available to accommodate our operations.

Item 2 of the 10-K filed Jul 14, 2026.4

Leadership

Who has led Zoomcar Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mohan P. Ananda2021
  2. Gregory Bradford Moran2024
  3. Hiroshi Nishijima2025
  4. Deepankar Tiwari2025–now

Chair

  1. Mohan P. Ananda2021

President

  1. Gregory Bradford Moran2024
  2. Adarsh Menon2024

Chief financial officer

  1. Elaine Price2021
  2. Geiv Dubash2024

Chief operating officer

  1. Madan Menon2021
  2. Hiroshi Nishijima2024
2025
Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerSachin Gupta named Dec 10, 2024 to Jan 7, 202534
  • DirectorEvelyn D'An named Dec 10, 2024 to Jan 7, 202534

Former names

  • Innovative International Acquisition Corp.Jul 6, 2021 to Dec 29, 20233

Timeline

  1. Oct 8, 20268-K Other events35
  2. Sep 18, 20268-K Entered a material agreement; Unregistered sale of shares; Other events36
  3. Sep 8, 20268-K Entered a material agreement; Unregistered sale of shares; Other events37
  4. Aug 31, 20268-K Unregistered sale of shares; Regulation FD disclosure; Other events38
  5. Aug 14, 20268-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed39
  6. Jul 23, 20268-K Other events40
  7. Jul 6, 20268-K Entered a material agreement; Unregistered sale of shares; Executive or director change41
  8. Jun 26, 20268-K Entered a material agreement; Unregistered sale of shares42
  9. Jun 25, 20268-K Other events43
  10. Jun 23, 20268-K Entered a material agreement; Unregistered sale of shares44
  11. Jun 5, 20268-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed45
  12. May 26, 20268-K Regulation FD disclosure46
  13. Jul 15, 2025New chief executive Deepankar Tiwari becomes CEO13
  14. Jan 6, 2025New chief executive Hiroshi Nishijima becomes CEO12
  15. Jan 10, 2024New chief executive Gregory Bradford Moran becomes CEO14
  16. Nov 1, 2021New chief executive Mohan P. Ananda becomes CEO15

Calendar

When it reported results

  1. May 20, 2026Reported quarterly or annual results47
  2. Feb 14, 2024Reported quarterly or annual results48

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

293 filings to the SEC since October 2021: 7 annual reports, 16 quarterly reports, 99 major events, 38 insider forms, 17 large holders, 2 private raises, 114 other. The latest 20:

  1. Oct 8, 20268-K CURRENT REPORT EDGAR
  2. Sep 18, 20268-K CURRENT REPORT EDGAR
  3. Sep 8, 20268-K CURRENT REPORT EDGAR
  4. Aug 31, 20268-K CURRENT REPORT EDGAR
  5. Aug 31, 2026SC TO-I/A AMENDMENT NO. 10 TO FORM SC TO-I EDGAR
  6. Aug 14, 202610-Q QUARTERLY REPORT EDGAR
  7. Aug 14, 20268-K CURRENT REPORT EDGAR
  8. Jul 24, 2026SC TO-I/A AMENDMENT NO. 9 TO FORM SC TO-I EDGAR
  9. Jul 23, 20268-K CURRENT REPORT EDGAR
  10. Jul 16, 202610-K/A ANNUAL REPORT EDGAR
  11. Jul 15, 20264 EDGAR
  12. Jul 15, 20264 EDGAR
  13. Jul 14, 202610-K ANNUAL REPORT EDGAR
  14. Jul 10, 2026SEC STAFF ACTION EDGAR
  15. Jul 10, 2026DEFR14A REVISED DEFINITIVE PROXY STATEMENT EDGAR
  16. Jul 6, 20268-K CURRENT REPORT EDGAR
  17. Jun 29, 2026NT 10-K NOTIFICATION OF LATE FILING EDGAR
  18. Jun 26, 2026DEF 14A DEFINITIVE PROXY STATEMENT EDGAR
  19. Jun 26, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
  20. Jun 25, 20268-K CURRENT REPORT EDGAR

The 293 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 24, 2024Nishijima HiroshiFormer CEOBuy32,052$1.56$50.0KForm 4
Nov 5, 2024Bailey Mark F. Sr.DirectorBuy184,112$4.28$788.0KForm 4
Oct 29, 2021ANANDA MOHAN PDirectorBuy960,000$10.00$9.6MForm 4
Oct 29, 2021Innovative International Sponsor I LLC10% ownerBuy960,000$10.00$9.6MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Chief Executive Officer$213.7K$348.6K57
2025Former ChiefExecutive Officer$67.0K$188.8K57
2025Financial Officer$116.2K$143.7K57
2025Chief Legal Officer and General Counsel$79.5K$106.0K57
2024Greg Moran$308.2K$595.9K57
2024Hiroshi Nishijima$302.7K$451.2K57
2024Sachin Gupta39$92.4K$136.1K57
2024Shachi Singh32$64.7K$100.7K57

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 23, 2024Raised $5.5 million in a private offering of equity Form D: $30 million offered in all Form D
  2. Nov 7, 2024Raised $9.2 million in a private offering of equity Form D: 12 investors so far Form D

SEC filer profile

How Zoomcar Holdings, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARZoomcar Holdings, Inc.1
  • CIK0001854275
  • Employer ID (EIN)99-04316094
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsMarch 311
  • Industry code (SIC)7510 Services-Auto Rental & Leasing (No Drivers)1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressAnjaneya Techno Park, No.147, 1St Floor, Kodihalli, Bangalore, K7 5600081
  • Phone91 99454-83821
  • Shares outstanding8,770,836 as of Aug 13, 202610
  • Public float$1.9M as of Sep 30, 20254
  • AuditorBansal & Co LLP, New Delhi PCAOB ID 2807; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJul 6, 20211
  • Filings296 in all: 8-K (96), 3 (22), 4 (16), 10-Q (15), 425 (14), CORRESP (14), SC TO-I/A (11), UPLOAD (11)1
    All 42 form types

    DEF 14A (7), PRE 14A (7), SC 13G/A (7), 10-K (5), DEFA14A (5), S-1 (5), S-1/A (5), S-4/A (5), 424B3 (4), EFFECT (4), NT 10-Q (4), SC 13G (4), 8-K/A (3), PRER14A (3), 10-K/A (2), 25-NSE (2), D (2), DRS (2), NT 10-K (2), S-8 (2), SC TO-I (2), SCHEDULE 13D (2), SEC STAFF ACTION (2), 10-QT (1), 424B4 (1), 8-A12B (1), CERT (1), DEFR14A (1), DRS/A (1), S-4 (1), SC 13D (1), SC 13D/A (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Jul 14, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Jun 26, 2026
    Latest 8-K (8-K) Oct 8, 2026

Securities registered for trading

ClassSymbolExchange
ZCAR
ZCARW

From the cover page of the 10-K filed Jul 14, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Zoomcar Holdings, Inc. names in Item 1A of its 10-K filed Jul 14, 2026: 73 risks under these headings, as written.4

  • In the course of conducting our business operations, we are exposed to a variety of risks. Any of the risk factors we describe below have affected or could materially adversely affect our business, financial condition and results of operations. The market price of our securities could decline, possibly significantly or permanently, if one or more of these risks and uncertainties occurs. Certain statements in “Risk Factors” are forward-looking statements. See “Special Note Regarding Forward-Looking Statements.”
  • Risks related to our Financial Condition
  • 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 may not have sufficient authorized but unissued shares of Common Stock to satisfy our obligations under the Series A Convertible Preferred Stock, the Warrants, the convertible notes, our other outstanding convertible and equity-linked securities, and our contemplated Tender Offers.
  • The accelerated registration rights described in this Supplement are subject to SEC rules, market conditions, and our continued ability to remain current in our Exchange Act reporting, and there can be no assurance that resale registration statements will be filed or declared effective on the timeline contemplated.
  • Our ability to continue as a going concern depends on our ability to raise additional capital, and recent financings have involved highly dilutive or restrictive terms.
  • Risks Related to Our Operations as a Public Company
  • Our Common Stock is quoted on an OTC Markets Group trading platform, the OTCQB, instead of a national exchange or quotation system. Accordingly, our investors may experience significant volatility in the market price of our Common Stock and have difficulty selling their shares.
  • Because our Common Stock is quoted on the OTCQB and not listed on a national exchange , U.S. broker-dealers may be discouraged from effecting transactions in shares of our Common Stock because it may be considered a penny stock and thus be subject to the penny stock rules.
  • Failure to comply with the continued qualification standards within, and any removal from OTCQB could materially and adversely affect the liquidity and market price of our common stock and our access to capital.
  • We require additional capital to support current operations and will require additional capital to support the growth of our business, which may not be available on terms acceptable to us, or at all.
  • In addition to our defaults under current indebtedness described elsewhere here, certain of our debt financing arrangements are currently in default and we have delayed certain other payments to lenders, which may restrict our current and future business and operations.
The other 63 risks
  • We have issued a significant number of warrants and exercise of these securities and the sale of the shares of Common Stock issuable thereunder (along with the issuance of any similar securities in the future,) will dilute your percentage ownership interest and may also result in downward pressure on the price of our Common Stock.
  • The completion of the warrant exchange offer would result in the issuance of a substantial number of shares of common stock and significant dilution to existing stockholders without generating additional cash proceeds.
  • If the warrant exchange offer is completed with respect to some, but not all, classes of outstanding warrants, the Company’s capital structure may remain complex and the anticipated reduction in warrant overhang may not be realized.
  • 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.
  • Our new “Bikes by Zoomcar” business segment is subject to operational uncertainties, and we cannot guarantee its long-term viability, profitability, or continuity.
  • Our operating and financial forecasts are subject to various known and unknown contingencies and factors outside of our control and may not prove accurate, and we may not achieve results consistent with management’s expectations.
  • The market for online platforms for peer-to-peer car sharing is relatively new and rapidly evolving. If we fail to successfully adapt to developments in our market, or if peer-to-peer car sharing online platforms do not achieve general acceptance, it could adversely affect our business, financial condition and operating results.
  • If we do not retain existing Hosts, or attract and maintain new Hosts, or if Hosts fail to provide an adequate supply of high-quality vehicles, our business, financial condition, and results of operations may be negatively impacted.
  • If we fail to retain existing Guests, or attract and maintain new Guests, our business, financial condition, and results of operations may be negatively impacted.
  • If we are unable to introduce new or upgraded platform features that Hosts or Guests recognize as valuable, we may fail to retain and attract such users to our platform and our operating results would be adversely affected.
  • Our success depends upon our ability to maintain favorable customer reviews and ratings, and if our reputation suffers, our business, financial condition and operating results may be adversely affected.
  • A former employee of Zoomcar India has instituted a wrongful termination suit and claims that certain Zoomcar options have vested.
  • The founder and former CEO of the Company has initiated a civil complaint against the Company contesting the reasons for his termination and has raised certain other claims with regards to his ownership of the Company and compensation for termination of his employment.
  • The ACM Letter Agreement imposes significant cash payment, securities issuance, capital raise participation and other obligations on the Company, and ACM’s discretionary right to terminate the Courtesy Standstill Period creates significant ongoing risk to the Company.
  • Our entering into a settlement with ACM could result in a breach of standstill provisions in agreements we entered into in connection with the investors in the November Offering
  • If the pre-programmed IoT devices distributed to our Hosts to affix to registered cars, which IoT devices enable GPS tracking and data collection by Zoomcar and keyless, digital access to booked vehicles by Guests, do not function as they are intended to function, our business, financial condition, and results of operations could be adversely affected.
  • We do not have long term contracts with the third-party suppliers of the IoT devices distributed to our Hosts and such suppliers can reduce quantities or terminate their sales of IoT devices to us at any time. Any adverse changes in such supply or the costs of such products or services may adversely affect our operations.
  • Maintaining and enhancing our brand and reputation is critical to our business prospects. While we have taken significant steps to build and improve our brand and reputation, failure to maintain or enhance our brand and reputation will cause our business to suffer.
  • The impact of adverse or changing economic conditions, including the resulting effects on consumer spending or mobility patterns, may adversely affect our business, financial condition, and results of operations.
  • Increases in, labor, energy, and other costs could adversely affect our operating results.
  • Our operations have grown substantially since our inception, and we expect that they will continue to do so, subject to our financial condition. If we are unable to effectively manage that growth, our financial performance and future prospects will be adversely affected.
  • Breaches and other types of security incidents of our networks or systems similar to the recent Cybersecurity Incident, or those of our third-party service providers, could negatively impact our business, our brand and reputation, our ability to retain existing Hosts and Guests and attract new Hosts and Guests, may cause us to incur significant liabilities and adversely affect our business, results of operations, financial condition, and future prospects.
  • We face competition and could lose market share to competitors, which could adversely affect our business, financial condition and operating results.
  • We rely on mobile operating systems and application marketplaces to make its platform available to Hosts and Guests, and failure to effectively operate with or receive favorable placements within such application marketplaces could adversely affect Zoomcar’s business, financial condition and operating results.
  • Our business depends on attracting and retaining capable management, technology development and operating personnel.
  • We are subject to payments-related risks.
  • Any major disruption or failure of our information technology systems, or our failure to successfully implement new technology effectively, could adversely affect our business and results of operations or the effectiveness of internal controls over financial reporting.
  • The successful operation of our business depends upon the performance and reliability of internet, mobile, and other infrastructures that are not under our control.
  • Our business operations may result in losses for which we are not insured.
  • If we do not adequately protect our intellectual property and our data, our business, results of operations, and financial condition could be materially adversely affected.
  • We have been, and may in the future be, subject to claims that we or others violated certain third-party intellectual property rights, which, even where meritless, can be costly to defend and could materially adversely affect our business, results of operations, and financial condition.
  • Risks related to International, Regulatory and Legal Matters
  • We are obligated to develop and maintain proper and effective internal control over financial reporting. If we are unable to develop and maintain an effective system of internal controls and procedures required by Section 404 of the Sarbanes-Oxley Act, we may not be able to accurately report our financial results in a timely manner, which may adversely affect investor confidence in us and materially and adversely affect our stock price, business and operating results.
  • Geographic areas in which Zoomcar operates and plans to operate in the future have been and may continue to be subject to political and economic instability.
  • We are subject to risks associated with operating in rapidly evolving emerging markets.
  • Political changes in the Government of India could delay or affect the further liberalization of the Indian economy and materially and adversely affect economic conditions in India, generally, and our business, in particular.
  • We may incur liability for the activities of Hosts or Guests, which could harm our reputation, increase our operating costs, and adversely affect our business, financial condition and operating results.
  • Host, Guest, or third-party actions that are criminal, violent, inappropriate, dangerous, or fraudulent may undermine the trust and safety or perception of trust and safety of our marketplace and our ability to attract and retain Hosts and Guests, which could materially and adversely affect our reputation, business, results of operations, and financial condition.
  • Our exposure to exchange rate fluctuations and the translation of local currency results into U.S. dollars could negatively impact our results of operations.
  • The effective tax rates governing car rental and car subscription in India could change.
  • We may have exposure to materially greater than anticipated tax liabilities.
  • Our reported financial results may be adversely affected by changes in accounting principles.
  • We are subject to privacy laws and regulations, and compliance with these laws and regulations could impose significant compliance burdens.
  • Failure to comply with labor laws and regulations may cause us to incur additional costs, which may affect our business, financial conditions and results of operations.
  • Uncertain global macro-economic and political conditions could materially and adversely affect our results of operations and financial condition.
  • Natural disasters, including and not limited to unusual weather conditions, epidemic outbreaks, terrorist acts and political events could disrupt our business schedule.
  • We may be unable to successfully grow our business if we fail to compete effectively with others to attract and retain our executive officers and other key management and technical personnel.
  • The requirements of being a public company may strain our resources, divert our management’s attention and affect our ability to attract and retain qualified independent board members.
  • We may have increasing difficulty attracting and retaining qualified outside independent board members.
  • Stock trading volatility could impact our ability to recruit and retain employees.
  • Members of our management team have limited or no prior experience managing a public company.
  • We may be exposed to risk if we cannot enhance, maintain, and adhere to our internal controls and procedures.
  • As a public company, we have incurred and expect to continue to incur increased expenses associated with the costs of being a public company.
  • Our current indebtedness and to the extent we incur indebtedness in the future, our future indebtedness could adversely affect our financial condition, our ability to raise additional capital to fund our operations, our ability to operate our business, our ability to react to changes in the economy or our industry and our ability to pay our debts and could divert our cash flow from operations for debt payments.
  • The Company may be subject to securities litigation, which is expensive and could divert management’s attention.
  • Zoomcar has limited operating history as a publicly traded company, and its historical financial information is not necessarily representative of the results we would have achieved as a publicly traded company and may not be a reliable indicator of its future results.
  • Risks Related to Ownership of Our Common Stock
  • The Company’s pending offer to exchange outstanding warrants may not be completed, which could adversely affect our capital structure, liquidity strategy and stock price.
  • Future sales of our Common Stock could cause the market price for our Common Stock to decline.
  • The market price and trading volume of our common stock may continue to be highly volatile, which could lead to a loss of all or part of a stockholder’s investment.
  • Our issuance of additional capital stock in connection with financing, acquisitions, investments, the Incentive Plan or otherwise will dilute all other stockholders.
  • If securities or industry analysts do not publish or cease publishing research or reports about us, our business, or our market, or if they change their recommendations regarding our securities adversely, the price and trading volume of our securities could decline.
  • We do not intend to pay cash dividends for the foreseeable future.
  • Because there are no current plans to pay cash dividends on our Common Stock for the foreseeable future, you may not receive any return on investment unless you sell your Common Stock at a price greater than what you paid for it.
  • Future sales, or the perception of future sales, by us or our stockholders in the public market could cause the market price for the Common Stock to decline.

Legal proceedings

Except as described below, we are not currently subject to any material claims, lawsuits, arbitration proceedings, administrative actions, government investigations and other legal and regulatory disputes and proceedings (collectively, “Legal Proceedings”) We have received communications relating to certain legal proceedings, as described in “Risk Factors - A former employee of Zoomcar India has instituted a wrongful termination suit and claims that certain Zoomcar options have vested.”, “Risk Factor - The founder and former CEO of the Company has initiated a civil complaint against the Company contesting the reasons for his termination and has raised certain other claims with regards to his ownership of the Company and compensation for termination of his employment.,” and “The ACM Letter Agreement imposes significant cash payment, securities issuance, capital raise participation and other obligations on the Company, and ACM’s discretionary right to terminate the Courtesy Standstill Period creates significant ongoing risk to the Company” “The Reimer Settlement Agreement and -related issuances will result in additional dilution to our investors” We may become subject to other Legal Proceedings over time or from time to time, in the ordinary course of our business and as our business continues to grow and expand over time. Becoming involved with Legal Proceedings, regardless of the outcome, may result in substantial cost and diversion of our resources, including our management’s time and attention.

The opening of Item 3, Legal Proceedings.4

Sources

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  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
    SEC EDGAROther events
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
    SEC EDGAROther events
  41. 41
  42. 42
  43. 43
    SEC EDGAROther events
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57