v3.25.1
Condensed Consolidated Statements of Stockholders’ Deficit (Unaudited) - USD ($)
Adjusted Balance
Redeemable Non- controlling Interest
Previously Reported
Adjusted Balance
Redeemable Non- controlling Interest
Adjusted Balance
Mezzanine equity Preferred stock
Previously Reported
Adjusted Balance
Mezzanine equity Preferred stock
Adjusted Balance
Common stock
Previously Reported
Adjusted Balance
Common stock
Adjusted Balance
Additional paid-in capital
Previously Reported
Adjusted Balance
Additional paid-in capital
Adjusted Balance
Accumulated Deficit
Previously Reported
Adjusted Balance
Accumulated Deficit
Adjusted Balance
Accumulated other comprehensive income/(loss)
Previously Reported
Adjusted Balance
Accumulated other comprehensive income/(loss)
Adjusted Balance
Previously Reported
Adjusted Balance
Redeemable Non- controlling Interest
Previously Reported
Redeemable Non- controlling Interest
Mezzanine equity Preferred stock
Previously Reported
Mezzanine equity Preferred stock
Shares pending issuance
Previously Reported
Shares pending issuance
Common stock
Previously Reported
Common stock
Additional paid-in capital
Previously Reported
Additional paid-in capital
Accumulated Deficit
Previously Reported
Accumulated Deficit
Accumulated other comprehensive income/(loss)
Previously Reported
Accumulated other comprehensive income/(loss)
Previously Reported
Total
Balance at Mar. 31, 2022                             $ 25,114,751 $ 25,114,751 $ 168,974,437 $ 168,974,437     $ 1,699   $ 18,530,768 $ 18,532,467 $ (207,970,204) $ (207,970,204) $ 769,156 $ 769,156 $ (188,668,581) $ (188,668,581)
Balance (in Shares) at Mar. 31, 2022                                 99,309,415 21,843,173     16,991,740 804                
Reverse stock split rounding adjustment (in Shares)                                                           1,653
Retroactive application of Reverse Recapitalization (Note 3) [1],[2]                                       $ (1,651)   1,651      
Retroactive application of Reverse Recapitalization (Note 3) (in Shares) [1],[2]                                   (77,466,242)       (16,508,926)                
Retroactive application of First Reverse Stock Split (Note 3) [3],[4]                                       $ (48)   48      
Retroactive application of First Reverse Stock Split (Note 3) (in Shares) [3],[4]                                         (477,472)                
Retroactive application of Second Reverse Stock Split (Note 3) [5]                                       $ 0   0      
Retroactive application of Second Reverse Stock Split (Note 3) (in Shares) [5]                                         (4,538)                
Stock based compensation                                               3,610,098       3,610,098
Gain on employee benefit, (net of taxes amounts to $NIL)                                                     27,083   27,083
Net Profit (loss)                                                   (62,032,076)   (62,032,076) (62,032,076)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                                     1,031,760   1,031,760
Cancellation of equity share issue                                                        
Balance at Mar. 31, 2023 $ 25,114,751 $ 25,114,751 $ 168,974,437 $ 168,974,437 $ 1,699   $ 22,140,866 $ 22,142,565 $ (270,002,280) $ (270,002,280) $ 1,827,999 $ 1,827,999 $ (246,031,716) $ (246,031,716) 25,114,751 25,114,751 $ 168,974,437 $ 168,974,437 $ 1,699   22,140,867 22,142,567 (270,002,281) (270,002,281) 1,827,999 1,827,999 (246,031,716) (246,031,716)
Balance (in Shares) at Mar. 31, 2023     99,309,415 21,843,173 16,987,064 804                     99,309,415 21,843,173     16,987,064 804                
Retroactive application of Reverse Recapitalization (Note 3) [2]                                     $ (1,651)   1,651      
Retroactive application of Reverse Recapitalization (Note 3) (in Shares) [2]                                   (77,466,242)       (16,504,250)                
Retroactive application of First Reverse Stock Split (Note 3) [3]                                     $ (48)   48      
Retroactive application of First Reverse Stock Split (Note 3) (in Shares) [3]                                         (477,472)                
Retroactive application of Second Reverse Stock Split (Note 3) [5]                                     $ 0   0      
Retroactive application of Second Reverse Stock Split (Note 3) (in Shares) [5]                                         (4,538)                
Stock based compensation                                         444,212           444,212
Gain on employee benefit, (net of taxes amounts to $NIL)                                                 (79,400)   (79,400)
Net Profit (loss)                                             (28,781,134)       (28,781,134)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                                   (44,777)   (44,777)
Balance at Jun. 30, 2023                               25,114,751   $ 168,974,437         22,586,779   (298,783,415)   1,703,822   (274,492,815)
Balance (in Shares) at Jun. 30, 2023                                   21,843,173       804                
Balance at Mar. 31, 2023 25,114,751 25,114,751 $ 168,974,437 $ 168,974,437 $ 1,699   22,140,866 22,142,565 (270,002,280) (270,002,280) 1,827,999 1,827,999 (246,031,716) (246,031,716) 25,114,751 25,114,751 $ 168,974,437 $ 168,974,437 $ 1,699   22,140,867 22,142,567 (270,002,281) (270,002,281) 1,827,999 1,827,999 (246,031,716) (246,031,716)
Balance (in Shares) at Mar. 31, 2023     99,309,415 21,843,173 16,987,064 804                     99,309,415 21,843,173     16,987,064 804                
Net Profit (loss)                                                           (26,757,978)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                                           (12,305)
Balance at Dec. 31, 2023                                     $ 3   272,063,319   (300,032,230)   1,738,241   (26,230,665)
Balance (in Shares) at Dec. 31, 2023                                         32,002                
Balance at Mar. 31, 2023 $ 25,114,751 25,114,751 $ 168,974,437 $ 168,974,437 $ 1,699   $ 22,140,866 22,142,565 $ (270,002,280) (270,002,280) $ 1,827,999 1,827,999 $ (246,031,716) (246,031,716) 25,114,751 25,114,751 $ 168,974,437 $ 168,974,437 $ 1,699   22,140,867 22,142,567 (270,002,281) (270,002,281) 1,827,999 1,827,999 (246,031,716) $ (246,031,716)
Balance (in Shares) at Mar. 31, 2023     99,309,415 21,843,173 16,987,064 804                     99,309,415 21,843,173     16,987,064 804                
Reverse stock split rounding adjustment (in Shares)                                           8,428,621               10
Retroactive application of Reverse Recapitalization (Note 3) [1]                                       $ (1,651)   1,651      
Retroactive application of Reverse Recapitalization (Note 3) (in Shares) [1]                                   (77,466,242)       (16,504,250)                
Retroactive application of First Reverse Stock Split (Note 3) [4]                               [3]   [3]       $ (48) [3]   48 [3]      
Retroactive application of First Reverse Stock Split (Note 3) (in Shares) [3],[4]                                         (477,472)                
Retroactive application of Second Reverse Stock Split (Note 3) [5]                                       $ 0   0      
Retroactive application of Second Reverse Stock Split (Note 3) (in Shares) [5]                                         (4,538)                
Stock based compensation               617,905       617,905                                
Accelerated vesting of stock based awards on cancellation               1,265,828       1,265,828                                
Issuance of shares to vendors against services [5]       $ 0   19,052,000       19,052,000                                
Issuance of shares to vendors against services (in Shares)       [5]   1,809 [5]                                               2,738,172
Issuance of common stock upon settlement of SSCPN [5]       $ 0   27,148,313       27,148,312                                
Issuance of common stock upon settlement of SSCPN (in Shares) [5]         3,679                                                
Issuance of common stock upon settlement of promissory notes [5]       $ 0   3,953,856       3,953,856                                
Issuance of common stock upon settlement of promissory notes (in Shares) [5]         536                                                
Reclassification on conversion of preferred stock warrants and derivative financial instruments of Zoomcar, Inc. to common stock warrants of the Company             24,314,334       24,314,334                                
Issue of common stock against Atalaya note                                                           $ 492,000
Issue of common stock against Atalaya note (in Shares)                                   4,597       10,000               9,192,377
Gain on employee benefit, (net of taxes amounts to $NIL)                     (69,717)   (69,717)                                
Net Profit (loss)                   (34,277,252)     (34,277,252)                             (34,277,252) $ (34,277,252)
Conversion of redeemable non-controlling interest into common stock upon Reverse Recapitalization   $ (25,114,751)       $ 0   25,114,751       25,114,751                                
Conversion of redeemable non-controlling interest into common stock upon Reverse Recapitalization (in Shares)           653                                                
Conversion of redeemable convertible preferred stock into common stock upon Reverse Recapitalization       $ (168,974,437)   $ 2   168,974,435       168,974,437                                
Conversion of redeemable convertible preferred stock into common stock upon Reverse Recapitalization (in Shares)       (21,843,173)   18,914                                                
Issuance of Common Stock upon Reverse Recapitalization           $ 1   (20,520,669)   (3,271,970)     (23,792,638)                                
Issuance of Common Stock upon Reverse Recapitalization (in Shares)           5,607                                                
Net common share settlement of private warrants [5]           $ 0   0                                      
Net common share settlement of private warrants (in Shares)           158 [5]                                               3,617,333
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                   37,710   37,710                               $ 37,710
Balance at Mar. 31, 2024           $ 3   272,063,319   (307,551,502)   1,795,992   (33,692,190)       $ 6,319 $ 3 272,057,003 272,063,319 (307,551,502) (307,551,502) 1,795,992 1,795,992 (33,692,188) (33,692,188)
Balance (in Shares) at Mar. 31, 2024           32,160                           63,185,881 32,160                
Balance at Jun. 30, 2023                               25,114,751   $ 168,974,437         22,586,779   (298,783,415)   1,703,822   (274,492,815)
Balance (in Shares) at Jun. 30, 2023                                   21,843,173       804                
Stock based compensation                                         173,693           173,693
Gain on employee benefit, (net of taxes amounts to $NIL)                                                 25,186   25,186
Net Profit (loss)                                             (12,402,285)       (12,402,285)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                                 30,697   30,697
Balance at Sep. 30, 2023                               25,114,751   $ 168,974,437         22,760,472   (311,185,700)   1,759,705   (286,665,524)
Balance (in Shares) at Sep. 30, 2023                                   21,843,173       804                
Accelerated vesting of stock based awards on cancellation                                       1,265,828           1,265,828
Conversion of redeemable non-controlling interest into common stock upon Merger [5]                               (25,114,751)       $ 0   25,114,751       25,114,751
Conversion of redeemable non-controlling interest into common stock upon Merger (in Shares) [5]                                         653                
Conversion of redeemable convertible preferred stock into common stock upon Merger                                 $ (168,974,437)     $ 2   168,974,435           168,974,437
Conversion of redeemable convertible preferred stock into common stock upon Merger (in Shares)                                   (21,843,173)       18,914                
Issuance of shares to vendors against services [5]                                     $ 0   19,052,000       19,052,001
Issuance of shares to vendors against services (in Shares) [5]                                         1,809                
Issuance of common stock upon settlement of SSCPN [5]                                     $ 0   27,148,313       27,148,313
Issuance of common stock upon settlement of SSCPN (in Shares) [5]                                         3,679                
Issuance of common stock upon settlement of promissory notes [5]                                     $ 0   3,953,856       3,953,856
Issuance of common stock upon settlement of promissory notes (in Shares) [5]                                         536                
Reclassification on conversion of preferred stock warrants and derivative financial instruments of Zoomcar, Inc. to common stock warrants of the Company                                       24,314,334           24,314,334
Issuance of Common Stock upon Merger                                     $ 1   (20,520,669)   (3,271,969)       (23,792,638)
Issuance of Common Stock upon Merger (in Shares)                                           5,607                
Gain on employee benefit, (net of taxes amounts to $NIL)                                               (23,239)   (23,239)
Net Profit (loss)                                             14,425,439       14,425,439
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                             1,775   1,775
Balance at Dec. 31, 2023                                     $ 3   272,063,319   (300,032,230)   1,738,241   (26,230,665)
Balance (in Shares) at Dec. 31, 2023                                         32,002                
Balance at Mar. 31, 2024           $ 3   272,063,319   (307,551,502)   1,795,992   (33,692,190)       $ 6,319 $ 3 272,057,003 272,063,319 (307,551,502) (307,551,502) 1,795,992 1,795,992 (33,692,188) (33,692,188)
Balance (in Shares) at Mar. 31, 2024           32,160                           63,185,881 32,160                
Retroactive application of First Reverse Stock Split (Note 3) [3]                                     $ (6,256)   6,256      
Retroactive application of First Reverse Stock Split (Note 3) (in Shares) [3]                                         (62,553,508)                
Retroactive application of Second Reverse Stock Split (Note 3) [3]                                     $ (60)   60      
Retroactive application of Second Reverse Stock Split (Note 3) (in Shares) [3]                                         (600,213)                
Issue of common stock against Atalaya note [1]                                     $ 1   2,324,695       2,324,696
Issue of common stock against Atalaya note (in Shares) [1]                                         6,257                
Issue of common stock warrants along with redeemable promissory notes                                       2,047,925       2,047,925
Issue of common stock warrants to placement agents                                       418,157       418,157
Gain on employee benefit, (net of taxes amounts to $NIL)                                           (65,190)   (65,190)
Net Profit (loss)                                         (2,334,233)     (2,334,233)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                           56,219   56,219
Balance at Jun. 30, 2024                                     $ 4   276,854,096   (309,885,735)   1,787,021   (31,244,614)
Balance (in Shares) at Jun. 30, 2024                                         38,417                
Balance at Mar. 31, 2024           $ 3   $ 272,063,319   $ (307,551,502)   $ 1,795,992   $ (33,692,190)       $ 6,319 $ 3 $ 272,057,003 272,063,319 $ (307,551,502) (307,551,502) $ 1,795,992 1,795,992 $ (33,692,188) $ (33,692,188)
Balance (in Shares) at Mar. 31, 2024           32,160                           63,185,881 32,160                
Retroactive application of First Reverse Stock Split (Note 3) (in Shares)                                                           6,256
Net Profit (loss)                                                           $ (13,805,617)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                                           417,695
Balance at Dec. 31, 2024                                     $ 34   280,780,005   (321,357,119)   2,154,326   (38,422,754)
Balance (in Shares) at Dec. 31, 2024                                         338,912                
Balance at Jun. 30, 2024                                     $ 4   276,854,096   (309,885,735)   1,787,021   (31,244,614)
Balance (in Shares) at Jun. 30, 2024                                         38,417                
Shares pending issuance on conversion of Unsecured promissory note                                     2,027,840             2,027,840
Gain on employee benefit, (net of taxes amounts to $NIL)                                               19,604   19,604
Net Profit (loss)                                             (3,549,321)     (3,549,321)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                               (12,327)   (12,327)
Balance at Sep. 30, 2024                                   2,027,840   $ 4   276,854,096   (313,435,056)   1,794,298   (32,758,818)
Balance (in Shares) at Sep. 30, 2024                                         38,417                
Issuance of common stock upon conversion of unsecured promissory note [5]                                   (2,027,840)   $ 0   2,027,840      
Issuance of common stock upon conversion of unsecured promissory note (in Shares) [5]                                         338                
Issue of common stock upon conversion of warrants along with redeemable promissory notes                                       $ 5   (5)        
Issue of common stock upon conversion of warrants along with redeemable promissory notes (in Shares)                                           46,527                
Issue of common stock and warrants                                     $ 22   2,432,949       2,432,971
Issue of common stock and warrants (in Shares)                                           219,939                
Issuance costs towards common stock and warrants                                         (572,138)       (572,138)
Issuance of common stock upon exercise of pre-funded warrants                                     $ 2   (2)        
Issuance of common stock upon exercise of pre-funded warrants (in Shares)                                           20,501                
Reverse stock split rounding adjustment                                     $ 1   (1)        
Reverse stock split rounding adjustment (in Shares)                                           13,190                
Issue of common stock warrants to placement agents                                         37,266       37,266
Gain on employee benefit, (net of taxes amounts to $NIL)                                             (13,775)   (13,775)
Net Profit (loss)                                           (7,922,063)       (7,922,063)
Foreign currency translation adjustment, (net of taxes amounts to $NIL)                                             373,803   373,803
Balance at Dec. 31, 2024                                     $ 34   $ 280,780,005   $ (321,357,119)   $ 2,154,326   $ (38,422,754)
Balance (in Shares) at Dec. 31, 2024                                         338,912                
[1] Both the number of shares outstanding and their par value have been retroactively recast for all prior periods presented to reflect the par value of the outstanding stock of Zoomcar Holdings, Inc. as a result of the successful Reverse Recapitalization.
[2] Both the number of stock outstanding and their par value have been retroactively recast for all prior periods presented to reflect the par value of the outstanding stock of Zoomcar Holdings, Inc. as a result of the successful Reverse Recapitalization.
[3] Prior period numbers have been adjusted to reflect the First Reverse Stock Split and the Second Reverse Stock Split of the Common Stock at a ratio of 1-for-100 and 1-for-20 respectively. (Refer Note 3)
[4] Prior period numbers have been adjusted to reflect the First Reverse Stock Split and the Second Reverse Stock Split of the Common Stock at a ratio of 1-for-100 and 1-for-20 respectively. (Refer Note 4)
[5] The amount of Common stock presented as zero represents decimal value less than $1.