XML 38 R7.htm IDEA: XBRL DOCUMENT v3.24.2
Consolidated Statements of Redeemable Non-Controlling Interests, Mezzanine Equity and Stockholders’ Equity - USD ($)
Adjustments
Redeemable Non- controlling Interest
Adjustments
Mezzanine equity Preferred stock
Adjustments
Common stock
Adjustments
Additional paid- in capital
Adjustments
Accumulated Deficit
Adjustments
Accumulated other comprehensive income/(loss)
Adjustments
Retroactive Application Adjustments
Redeemable Non- controlling Interest
Retroactive Application Adjustments
Mezzanine equity Preferred stock
Retroactive Application Adjustments
Common stock
Retroactive Application Adjustments
Additional paid- in capital
Retroactive Application Adjustments
Accumulated Deficit
Retroactive Application Adjustments
Accumulated other comprehensive income/(loss)
Retroactive Application Adjustments
Balance at Mar. 31, 2022 $ 25,114,751 $ 168,974,437 $ 1,699 $ 18,530,769 $ (207,970,205) $ 769,156 $ (188,668,581) $ 25,114,751 $ 168,974,437 $ 48 $ 18,532,420 $ (207,970,205) $ 769,156 $ (188,668,581)
Balance (in Shares) at Mar. 31, 2022   99,309,415 16,991,740           21,843,173 482,814        
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) (16,508,926)        
Stock based compensation               3,610,098 3,610,098
Gain on employee benefit, (net of taxes amounts to $ Nil)               27,083 27,083
Net loss               (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 $ 168,974,437 $ 1,699 $ 22,140,867 $ (270,002,281) $ 1,827,999 $ (246,031,716) 25,114,751 $ 168,974,437 $ 48 22,142,518 (270,002,281) 1,827,999 (246,031,716)
Balance (in Shares) at Mar. 31, 2023   99,309,415 16,987,064           21,843,173 482,814        
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)        
Stock based compensation               617,905 617,905
Accelerated vesting of stock based awards on cancellation               1,265,828 1,265,828
Gain on employee benefit, (net of taxes amounts to $ Nil)               (69,717) (69,717)
Net loss               (34,277,251) (34,277,251)
Conversion of redeemable non-controlling interest into common stock upon Reverse Recapitalization               (25,114,751) $ 131 25,114,620 25,114,751
Conversion of redeemable non-controlling interest into common stock upon Reverse Recapitalization (in Shares)                   1,306,091        
Conversion of redeemable convertible preferred stock into common stock upon Reverse Recapitalization               $ (168,974,437) $ 3,783 168,970,654 168,974,437
Conversion of redeemable convertible preferred stock into common stock upon Reverse Recapitalization (in Shares)                 (21,843,173) 37,827,907        
Issuance of shares to vendors against services               $ 362 19,051,638 19,052,000
Issuance of shares to vendors against services (in Shares)                   3,617,333        
Issuance of common stock upon settlement of SSCPN               $ 736 27,147,577 27,148,313
Issuance of common stock upon settlement of SSCPN (in Shares)                   7,357,115        
Issuance of common stock upon settlement of convertible promissory notes               $ 107 3,953,749 3,953,856
Issuance of common stock upon settlement of convertible promissory notes (in Shares)                   1,071,506        
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 Reverse Recapitalization               $ 1,121 (20,521,790) (3,271,969) (23,792,638)
Issuance of Common Stock upon Reverse Recapitalization (in Shares)                   11,212,138        
Net common share settlement of private warrants                   $ 31 (31)
Net common share settlement of private warrants (in Shares)                   310,977        
Foreign currency translation adjustment, (net of taxes amounts to $ Nil)               37,710 37,710
Balance at Mar. 31, 2024               $ 6,319 $ 272,057,002 $ (307,551,501) $ 1,795,992 $ (33,692,188)
Balance (in Shares) at Mar. 31, 2024                 63,185,881        
[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.