2024 Q4 Form 10-Q Financial Statement

#000121390024097455 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $2.247M $0.00
YoY Change
Cost Of Revenue $1.213M $2.737M
YoY Change -55.67%
Gross Profit $1.033M -$2.737M
YoY Change -137.75%
Gross Profit Margin 46.0%
Selling, General & Admin $1.871M $3.322M
YoY Change -43.69%
% of Gross Profit 181.02%
Research & Development $734.9K $919.9K
YoY Change -20.11%
% of Gross Profit 71.11%
Depreciation & Amortization $100.8K $255.1K
YoY Change -60.48%
% of Gross Profit 9.75%
Operating Expenses $2.606M $1.191M
YoY Change 118.88% -50.56%
Operating Profit -$1.572M -$1.191M
YoY Change 32.07% -50.56%
Interest Expense $131.2K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$177.3K
YoY Change
Pretax Income -$3.352M -$785.9K
YoY Change 326.51% -41.74%
Income Tax
% Of Pretax Income
Net Earnings -$3.352M -$785.9K
YoY Change 326.52% -41.74%
Net Earnings / Revenue -149.18%
Basic Earnings Per Share -$4.43 -$2.569K
Diluted Earnings Per Share -$4.43 -$0.07
COMMON SHARES
Basic Shares Outstanding 2.060M shares 75.70M shares 4.828K shares
Diluted Shares Outstanding 757.0K shares 4.828K shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.00K
YoY Change -73.25%
Cash & Equivalents $614.2K $23.21K
Short-Term Investments
Other Short-Term Assets $384.3K $34.00K
YoY Change 1030.24% -85.36%
Inventory
Prepaid Expenses $564.6K $34.05K
Receivables $102.7K
Other Receivables
Total Short-Term Assets $2.640M $57.26K
YoY Change 4510.18% -82.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.263M
YoY Change
Goodwill
YoY Change
Intangibles $8.605K
YoY Change
Long-Term Investments $30.73M
YoY Change -86.98%
Other Assets $819.0K
YoY Change
Total Long-Term Assets $3.550M $30.73M
YoY Change -88.45% -86.98%
TOTAL ASSETS
Total Short-Term Assets $2.640M $57.26K
Total Long-Term Assets $3.550M $30.73M
Total Assets $6.189M $30.79M
YoY Change -79.9% -86.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.75M $7.987M
YoY Change 97.2% 85.93%
Accrued Expenses
YoY Change
Deferred Revenue $589.7K
YoY Change
Short-Term Debt $3.028M
YoY Change 909.33%
Long-Term Debt Due $3.664M
YoY Change
Total Short-Term Liabilities $37.66M $11.08M
YoY Change 239.95% 135.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $12.10M
YoY Change 0.0%
Total Long-Term Liabilities $12.10M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.66M $11.08M
Total Long-Term Liabilities $12.10M
Total Liabilities $38.95M $23.18M
YoY Change 68.05% 37.89%
SHAREHOLDERS EQUITY
Retained Earnings -$313.4M -$23.12M
YoY Change 1255.65% 40.35%
Common Stock $276.9M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$32.76M -$23.12M
YoY Change
Total Liabilities & Shareholders Equity $6.189M $30.79M
YoY Change -79.9% -86.97%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$3.352M -$785.9K
YoY Change 326.52% -41.74%
Depreciation, Depletion And Amortization $100.8K $255.1K
YoY Change -60.48%
Cash From Operating Activities -$720.2K -$388.1K
YoY Change 85.56% -51.58%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $67.79K $3.621M
YoY Change -98.13%
Cash From Investing Activities $67.79K $3.621M
YoY Change -98.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -302.3K -3.246M
YoY Change -90.68% -1181.87%
NET CHANGE
Cash From Operating Activities -720.2K -388.1K
Cash From Investing Activities 67.79K 3.621M
Cash From Financing Activities -302.3K -3.246M
Net Change In Cash -954.7K -13.10K
YoY Change 7187.79% -97.39%
FREE CASH FLOW
Cash From Operating Activities -$720.2K -$388.1K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2024Q2 ioacu Adjustments To Accumulated Other Comprehensive Income Loss Gain On Employee Benefit
AdjustmentsToAccumulatedOtherComprehensiveIncomeLossGainOnEmployeeBenefit
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CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
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StockholdersEquity
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StockIssuedDuringPeriodValueConversionOfUnits
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AdjustmentsToAccumulatedOtherComprehensiveIncomeLossGainOnEmployeeBenefit
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CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Share Based Compensation
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us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Fair Value Adjustment Of Warrants
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ioacu Change In Fair Value Of Convertible Promissory Notes
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ioacu Change In Fair Value Of Senior Subordinated Convertible Promissory Notes
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ioacu Change In Fair Value Of Derivative Financial Instruments
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us-gaap Interest Expense Debt
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us-gaap Paid In Kind Interest
PaidInKindInterest
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us-gaap Finance Lease Interest Expense
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ioacu Other Borrowing Cost
OtherBorrowingCost
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ioacu Change In Fair Value Of Unsecured Convertible Note
ChangeInFairValueOfUnsecuredConvertibleNote
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us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2242 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-84093 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
1802 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
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ioacu Assets Written Off
AssetsWrittenOff
93740 usd
ioacu Assets Written Off
AssetsWrittenOff
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ioacu Payable To Customers Written Back
PayableToCustomersWrittenBack
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ioacu Provisions Written Off
ProvisionsWrittenOff
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ioacu Gain On Liabilities Written Off
GainOnLiabilitiesWrittenOff
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
5859 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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us-gaap Gains Losses On Restructuring Of Debt
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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ioacu Increase Decrease In Balances With Government Authorities
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ioacu Increase Decrease In Balances With Government Authorities
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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IncreaseDecreaseInOtherCurrentAssets
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us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
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us-gaap Increase Decrease In Other Current Liabilities
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us-gaap Increase Decrease In Pension And Postretirement Obligations
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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PaymentsToAcquirePropertyPlantAndEquipment
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PaymentsToAcquireInvestments
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ProceedsFromSaleOfOtherPropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
6589 usd
us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
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us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
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us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
70231 usd
ioacu Interest Received On Fixed Deposits
InterestReceivedOnFixedDeposits
546 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
384825 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Subordinated Short Term Debt
ProceedsFromSubordinatedShortTermDebt
13175026 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1564210 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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ioacu Payment Of Senior Subordinated Convertible Promissory Notes Issue Expenses
PaymentOfSeniorSubordinatedConvertiblePromissoryNotesIssueExpenses
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us-gaap Repayments Of Debt
RepaymentsOfDebt
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us-gaap Repayments Of Debt
RepaymentsOfDebt
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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315579 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1496144 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3686741 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
614206 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3846543 usd
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
614206 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3846543 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
614206 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3846543 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
392 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-28223 usd
us-gaap Interest Paid Net
InterestPaidNet
145989 usd
us-gaap Interest Paid Net
InterestPaidNet
216715 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
2324683 usd
ioacu Issue Of Warrants To Redeemable Promissory Note Holders
IssueOfWarrantsToRedeemablePromissoryNoteHolders
2047925 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
2027840 usd
ioacu Issue Of Warrants To Placement Agents
IssueOfWarrantsToPlacementAgents
418157 usd
ioacu Gain On Troubled Debt Restructuring With The Lenders
GainOnTroubledDebtRestructuringWithTheLenders
115999 usd
us-gaap Nature Of Operations
NatureOfOperations
<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in">1.</td><td style="text-align: justify">Organization, Business operation and Going concern</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Zoomcar Holdings, Inc. <i>(formerly “Innovative International Acquisition Corp”) </i>a Delaware corporation provides mobility solutions to consumers and businesses. The accompanying Condensed Consolidated Financial Statements include the accounts and transactions of Zoomcar Holdings, Inc. and its subsidiaries (collectively, the “Company” or “the combined entity” or “Zoomcar”). The Company operates its facilitation services under the Zoomcar brand with its operations in India.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On December 28, 2023 (the “Closing Date”), pursuant to a Merger Agreement dated October 13, 2022 by and among Innovative International Acquisition Corp (“IOAC” or “SPAC”), Innovative International Merger Sub, Inc. and Zoomcar, Inc., the parties consummated the merger of Innovative International Merger Sub, Inc. with and into Zoomcar, Inc., with Zoomcar, Inc., continuing as the surviving corporation (the “Merger”), as well as the other transactions contemplated by the Merger Agreement (the Merger and such other transactions, the “Reverse Recapitalization”). In connection with the closing (the “Closing”) of the Reverse Recapitalization, Zoomcar, Inc. became a wholly owned subsidiary of IOAC and IOAC changed its name to Zoomcar Holdings, Inc., and all of Zoomcar, Inc. Common Stock, convertible preferred stock and convertible notes automatically converted into shares of the Company’s Common Stock having a par value of $0.0001 per share. The Company’s Common Stock and Warrants commenced trading on the Nasdaq Global Market (“Nasdaq”) under the symbols “ZCAR” and “ZCARW,” respectively, on December 28, 2023. Refer to Note 3 to these Condensed Consolidated Financial Statements for more information on the Reverse Recapitalization.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-size: 10pt">Zoomcar, Inc., determined that it was the accounting acquirer in the Reverse Recapitalization based on an analysis of the criteria outlined in ASC 805, Business Combinations</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of Zoomcar, Inc., issuing stock for the net assets of IOAC. The primary asset acquired from IOAC was cash that was assumed. Separately, the Company also assumed warrants that were reclassified to equity upon close of the Reverse Recapitalization. No goodwill or other intangible assets were recorded as a result of the Reverse Recapitalization.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">While IOAC was the legal acquirer in the Reverse Recapitalization, because Zoomcar, Inc., was deemed to be the accounting acquirer, the historical financial statements of Zoomcar, Inc., became the historical financial statements of the combined entity upon the consummation of the Reverse Recapitalization. As a result, the financial statements included in this report reflect (i) the historical operating results of Zoomcar, Inc., prior to the Reverse Recapitalization; (ii) the results of the combined entity following the Closing of the Reverse Recapitalization; (iii) sum of the assets and liabilities of both Zoomcar, Inc., and the SPAC at their historical cost; and (iv) the combined entity’s equity structure for all periods presented.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The equity structure has been recast in all comparative periods up to the Closing date to reflect the number of shares of the Company’s Common Stock, $0.0001 par value per share, issued to Zoomcar, Inc. shareholders in connection with the Reverse Recapitalization. As such, the shares and corresponding capital amounts and income per share related to Zoomcar, Inc. Common Stock prior to the Reverse Recapitalization have been retroactively recast as shares reflecting the exchange ratio of 0.0284 established in the Reverse Recapitalization.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Going concern</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP and the rules and regulations of the SEC. The Condensed Consolidated Financial Statements have been prepared using U.S. GAAP applicable to a going concern that contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company incurred a net loss of $3,351,975 and $5,883,554 during the three months and six months ended September 30, 2024, and cash used in operations was $2,496,568 for the six months ended September 30, 2024. The Company’s accumulated deficit amounts to $313,435,055 (March 2024: $307,551,501). The Company has negative working capital of $35,015,950 as on September 30, 2024. In addition, the Company’s cash position is critically deficient and critical payments to the operational and financial creditors of the Company are not being made in the ordinary course of business, all of which raises substantial doubt about the Company’s ability to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The Company expects to continue to incur net losses and have significant cash outflows from operating activities for at least the next 12 months. Management has evaluated the significance of the conditions described above in relation to the Company’s ability to meet its obligations and concluded that, without additional funding, the Company will not have sufficient funds to meet its obligations within one year from the date the Condensed Consolidated Financial Statements are issued. Management’s plans with respect to these adverse financial conditions that caused management to express substantial doubt about the Company’s ability to continue as a going concern are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">a)</td><td style="text-align: justify">In June 2024, Company entered into a letter agreement with Aegis Capital Corp. (“Aegis”) pursuant to which Aegis will act as a placement agent to the Company in connection with a proposed private placement of up to $30 million of securities of the Company which consists of Company’s Series A Preferred Stock and Series A warrants. Pursuant to the above agreement, on November 7, 2024, the Company has received net proceeds of $7.63 million (after deduction of fees to the placement agent and other offering expenses amounting to $1.12 million). The Company paid $3.80 million from these net proceeds towards the outstanding Redeemable Promissory Notes. Further, there is a holdback of $0.2 million from the remaining proceeds for indemnification of the placement agent in the financing. While this financing resulted in the payment of certain outstanding indebtedness, the Company will still need to raise additional capital imminently in order to have sufficient capital.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">There can be no assurance that the Company will be able to achieve its business plan, raise any additional capital or secure the additional financing necessary to implement its current operating plan. The ability of the Company to continue as a going concern is dependent upon its ability to increase its revenues and eventually achieve profitable operations. The accompanying Condensed Consolidated Financial Statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</p>
ioacu Exchange Ratio Of Reverse Recapitalization
ExchangeRatioOfReverseRecapitalization
0.0284 pure
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-3351975 usd
us-gaap Net Income Loss
NetIncomeLoss
-5883554 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2496568 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-313435055 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-307551501 usd
ioacu Working Capital
WorkingCapital
35015950 usd
CY2024Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
30000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">(c)</td><td style="text-align: justify">Use of estimates and assumptions</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The use of estimates and assumptions as determined by management is required in the preparation of the Condensed Consolidated Financial Statements in conformity with US GAAP. These estimates are based on management’s evaluation of historical trends and other information available when the Condensed Consolidated Financial Statements are prepared and may affect the amounts reported and related disclosures. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Estimates and underlying assumptions are reviewed on an ongoing basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The significant estimates, judgments and assumptions that affect the Condensed Consolidated Financial Statements include, but are not limited to; are:</p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">a.</td><td style="text-align: justify">Estimation of defined benefit obligation</td></tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">b.</td><td style="text-align: justify">Fair value measurement of financial instruments</td></tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">c.</td><td style="text-align: justify">Fair value measurement of share-based payments</td></tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">d.</td><td style="text-align: justify">Leases – assumption to determine the incremental borrowing rate</td></tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">e.</td><td style="text-align: justify">Valuation allowance on deferred tax assets</td></tr></table><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">f.</td><td style="text-align: justify">Estimation of utilization of balances with government authorities</td></tr></table>
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
20467 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
96710 usd
ioacu Net Proceeds Of Common Stock
NetProceedsOfCommonStock
5770630 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17100000 usd
CY2024Q1 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
10947805 usd
ioacu Stock Isssued During Earnout Escrow New Issues
StockIsssuedDuringEarnoutEscrowNewIssues
200000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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ioacu Number Of Share Consolidated
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CY2024Q1 ioacu Penalty Interest Waiver
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0.24 pure
us-gaap Gains Losses On Restructuring Of Debt
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352447 usd
us-gaap Troubled Debt Restructuring Debtor Current Period Gain Loss On Restructuring Per Share Net
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0.49
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0.0049
CY2024Q3 us-gaap Cash And Due From Banks
CashAndDueFromBanks
612951 usd
CY2024Q1 us-gaap Cash And Due From Banks
CashAndDueFromBanks
1495097 usd
CY2024Q3 us-gaap Cash
Cash
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CY2024Q1 us-gaap Cash
Cash
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CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
614206 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2024Q3 us-gaap Accounts Receivable Gross Current
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CY2024Q1 us-gaap Accounts Receivable Gross Current
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207971 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2024Q3 us-gaap Accounts Receivable Net Current
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102658 usd
CY2024Q1 us-gaap Accounts Receivable Net Current
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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2024Q3 us-gaap Income Taxes Receivable
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CY2024Q1 us-gaap Income Taxes Receivable
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CY2024Q3 ioacu Impairment Charges
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3830175 usd
CY2024Q1 ioacu Impairment Charges
ImpairmentCharges
3849317 usd
CY2024Q3 ioacu Balances With Government Authorities
BalancesWithGovernmentAuthorities
350971 usd
CY2024Q1 ioacu Balances With Government Authorities
BalancesWithGovernmentAuthorities
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CY2024Q3 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
4083 usd
CY2024Q1 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
18126 usd
CY2024Q3 ioacu Balances With Government Authorities Non Current
BalancesWithGovernmentAuthoritiesNonCurrent
4083 usd
CY2024Q1 ioacu Balances With Government Authorities Non Current
BalancesWithGovernmentAuthoritiesNonCurrent
18126 usd
CY2024Q1 us-gaap Tax Credit Carryforward Valuation Allowance
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CY2024Q3 ioacu Impairment Charges
ImpairmentCharges
3830175 usd
CY2024Q1 ioacu Impairment Charges
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3849317 usd
CY2024Q1 us-gaap Certificates Of Deposit At Carrying Value
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CY2024Q1 us-gaap Short Term Investments
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298495 usd
CY2024Q2 us-gaap Deposits Assets
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CY2024Q3 us-gaap Security Deposit
SecurityDeposit
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CY2024Q1 us-gaap Security Deposit
SecurityDeposit
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CY2024Q3 ioacu Franchise Tax Refund Receivable
FranchiseTaxRefundReceivable
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CY2024Q1 ioacu Franchise Tax Refund Receivable
FranchiseTaxRefundReceivable
84490 usd
CY2024Q3 ioacu Advance To Employees
AdvanceToEmployees
23500 usd
CY2024Q1 ioacu Advance To Employees
AdvanceToEmployees
15159 usd
CY2024Q3 us-gaap Receivables From Customers
ReceivablesFromCustomers
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CY2024Q1 us-gaap Receivables From Customers
ReceivablesFromCustomers
90244 usd
CY2024Q3 us-gaap Prepaid Taxes
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CY2024Q1 us-gaap Prepaid Taxes
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CY2024Q1 us-gaap Supplies
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CY2024Q1 us-gaap Other Receivables
OtherReceivables
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CY2024Q3 us-gaap Other Assets Current
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384280 usd
CY2024Q1 us-gaap Other Assets Current
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CY2024Q3 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
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623046 usd
CY2024Q1 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
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CY2024Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
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us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
-2850 usd
CY2023Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
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us-gaap Gains Losses On Sales Of Assets
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1385 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2024Q3 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
2710663 usd
CY2024Q1 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
2572825 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1262713 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1558980 usd
CY2024Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
4096932 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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4117406 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
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1262713 usd
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1558980 usd
CY2024Q3 us-gaap Depreciation
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us-gaap Depreciation
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213163 usd
CY2023Q3 us-gaap Depreciation
Depreciation
255126 usd
us-gaap Depreciation
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CY2024Q3 us-gaap Other Cost Of Operating Revenue
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us-gaap Other Cost Of Operating Revenue
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CY2023Q3 us-gaap Other Cost Of Operating Revenue
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210435 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
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CY2024Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
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us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
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OtherGeneralAndAdministrativeExpense
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us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
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CY2024Q3 us-gaap Interest Expense
InterestExpense
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CY2023Q3 us-gaap Interest Expense
InterestExpense
155362 usd
us-gaap Interest Expense
InterestExpense
267209 usd
us-gaap Interest Expense
InterestExpense
316481 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2023Q3 us-gaap Operating Lease Cost
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128076 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
194570 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
260282 usd
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
93551 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
24598 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
172923 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
79673 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
311042 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
308036 usd
us-gaap Lease Cost
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us-gaap Lease Cost
LeaseCost
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CY2024 us-gaap Operating Lease Payments
OperatingLeasePayments
178249 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2023 ioacu Financing Cash Outflows For Finance Leases
FinancingCashOutflowsForFinanceLeases
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CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2024Q3 us-gaap Operating Lease Liability Current
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315495 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
365542 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1009681 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2024Q3 us-gaap Property Plant And Equipment Other
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CY2024Q1 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
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CY2024Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
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CY2024Q1 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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CY2024 us-gaap Finance Lease Impairment Loss
FinanceLeaseImpairmentLoss
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CY2024Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
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CY2024Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
5738239 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
5738239 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P54M
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P58M
CY2024Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P30M
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.13 pure
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.13 pure
CY2024Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.08 pure
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.09 pure
CY2024Q3 us-gaap Lease Deposit Liability
LeaseDepositLiability
361737 usd
CY2024Q1 us-gaap Lease Deposit Liability
LeaseDepositLiability
363545 usd
CY2024Q3 us-gaap Short Term Lease Commitment Amount
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5804548 usd
ioacu Equated Monthly Instalment Interest Rate On Overdue
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0.01 pure
ioacu Equated Monthly Instalment Overdue Amount
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131879 usd
ioacu Equated Monthly Instalment Interest Rate On Unpaid Overdue
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0.015 pure
ioacu Overdue Unpaid Term Of Contract
OverdueUnpaidTermOfContract
P60D
CY2022 ioacu Conditional Waiver
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1200000 usd
CY2022 ioacu Percentage Of Interest Charge
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0.15 pure
CY2024Q3 us-gaap Long Term Investments
LongTermInvestments
25553 usd
CY2024Q1 us-gaap Long Term Investments
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91947 usd
CY2024Q3 us-gaap Deposits Assets Noncurrent
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362694 usd
CY2024Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
350149 usd
CY2024Q3 ioacu Other Receivables Non Current
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456309 usd
CY2024Q1 ioacu Other Receivables Non Current
OtherReceivablesNonCurrent
458590 usd
CY2024Q3 us-gaap Other Assets Noncurrent
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819003 usd
CY2024Q1 us-gaap Other Assets Noncurrent
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CY2024Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
152435 usd
CY2024Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
152435 usd
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
15750725 usd
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
14279152 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Fair Value Disclosure
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CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Fair Value Disclosure
AccountsPayableAndAccruedLiabilitiesFairValueDisclosure
14431587 usd
CY2023Q3 us-gaap Accounts Payable Trade Current And Noncurrent
AccountsPayableTradeCurrentAndNoncurrent
236447 usd
CY2024Q3 us-gaap Long Term Debt Current
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3663830 usd
CY2024Q1 us-gaap Long Term Debt Current
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5049483 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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3663830 usd
CY2024Q3 us-gaap Long Term Debt
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3663830 usd
CY2024Q3 ioacu Agreed Waive Percentage
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0.25 pure
CY2024Q3 ioacu Fixed Coupon Interest
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0.10 pure
CY2024Q3 us-gaap Long Term Commercial Paper Current
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3750000 usd
us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
909657 usd
us-gaap Amortization Of Financing Costs
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909657 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2239959 usd
CY2024Q3 ioacu Redeemable Promissory Note
RedeemablePromissoryNote
1510041 usd
us-gaap Proceeds From Related Party Debt
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3000000 usd
us-gaap Payments Of Debt Issuance Costs
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us-gaap Amortization Of Financing Costs
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CY2024Q3 us-gaap Paid In Kind Interest
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us-gaap Paid In Kind Interest
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1467623 usd
CY2024Q3 ioacu Balance Outstanding Of Redeemable Promissory Note
BalanceOutstandingOfRedeemablePromissoryNote
3750000 usd
us-gaap Debt Instrument Increase Accrued Interest
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150000 usd
ioacu Reverse Stock Split
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0.1416
CY2023Q3 ioacu Change In Fair Value Of Convertible Promissory Notes
ChangeInFairValueOfConvertiblePromissoryNotes
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ioacu Change In Fair Value Of Convertible Promissory Notes
ChangeInFairValueOfConvertiblePromissoryNotes
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CY2024Q1 ioacu Unsecured Promissory Note To Related Parties
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2027840 usd
CY2022Q3 ioacu Debt Instrumentof Convertible Debt Maturity Period
DebtInstrumentofConvertibleDebtMaturityPeriod
P90D
CY2022Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
300
CY2022Q3 ioacu Reverse Stock Split Exercise Price Per Share
ReverseStockSplitExercisePricePerShare
3
CY2024Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
300
CY2024Q3 ioacu Reverse Stock Split Exercise Price Per Share
ReverseStockSplitExercisePricePerShare
3
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
6760 shares
ioacu Stock Issued During Period Shares Retroactive Application Of Reverse Stock Split
StockIssuedDuringPeriodSharesRetroactiveApplicationOfReverseStockSplit
675946 shares
CY2024Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
10067601 usd
CY2024Q3 us-gaap Unsecured Debt Current
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6772885 usd
ioacu Stock Issued During Period Shares Settlement
StockIssuedDuringPeriodSharesSettlement
125120 shares
CY2024Q3 ioacu Percentage Of Discount On Principal Amount
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0.075 pure
CY2024Q1 ioacu Unrestricted Shares
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1640 shares
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
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558424 usd
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
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576052 usd
CY2024Q3 us-gaap Sales And Excise Tax Payable Current And Noncurrent
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1494235 usd
CY2024Q1 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
1550688 usd
CY2024Q3 ioacu Capital Creditor
CapitalCreditor
5907 usd
CY2024Q1 ioacu Capital Creditor
CapitalCreditor
5936 usd
CY2024Q3 ioacu Employee Benefit Expenses Payable Amount
EmployeeBenefitExpensesPayableAmount
340138 usd
CY2024Q1 ioacu Employee Benefit Expenses Payable Amount
EmployeeBenefitExpensesPayableAmount
320360 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
366597 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
330582 usd
CY2024Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2765301 usd
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2783618 usd
CY2024Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
35994 usd
CY2024Q3 us-gaap Security Deposit Liability
SecurityDepositLiability
47754 usd
us-gaap Recapitalization Costs
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17100000 usd
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Revenues
Revenues
2246897 usd
CY2023Q3 us-gaap Revenues
Revenues
2681008 usd
us-gaap Revenues
Revenues
4487882 usd
us-gaap Revenues
Revenues
5295626 usd
CY2024Q3 us-gaap Revenues
Revenues
2246897 usd
CY2023Q3 us-gaap Revenues
Revenues
2681008 usd
us-gaap Revenues
Revenues
4487882 usd
us-gaap Revenues
Revenues
5295626 usd
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
589681 usd
CY2024 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
716091 usd
ioacu Customer Advances
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569214 usd
CY2024Q3 us-gaap Deferred Revenue
DeferredRevenue
20467 usd
CY2024Q1 us-gaap Deferred Revenue
DeferredRevenue
96710 usd
CY2024Q3 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
453 usd
us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
269829 usd
CY2023Q3 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
321904 usd
us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
362920 usd
CY2023Q3 ioacu Change In Fair Value Of Convertible Promissory Notes
ChangeInFairValueOfConvertiblePromissoryNotes
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ioacu Change In Fair Value Of Convertible Promissory Notes
ChangeInFairValueOfConvertiblePromissoryNotes
-995456 usd
CY2024Q3 us-gaap Paid In Kind Interest
PaidInKindInterest
1320861 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
1467623 usd
CY2024Q3 ioacu Change In Fair Value Of Atalaya Note
ChangeInFairValueOfAtalayaNote
390218 usd
CY2023Q3 ioacu Change In Fair Value Of Sscpn
ChangeInFairValueOfSSCPN
6141965 usd
ioacu Change In Fair Value Of Sscpn
ChangeInFairValueOfSSCPN
16661212 usd
CY2023Q3 us-gaap Notes Issued1
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525588 usd
us-gaap Notes Issued1
NotesIssued1
1564210 usd
CY2023Q3 ioacu Change In Fair Value Of Derivative Financial Instrument
ChangeInFairValueOfDerivativeFinancialInstrument
813566 usd
ioacu Change In Fair Value Of Derivative Financial Instrument
ChangeInFairValueOfDerivativeFinancialInstrument
10036375 usd
CY2024Q3 ioacu Bank Charges
BankCharges
6405 usd
CY2023Q3 ioacu Bank Charges
BankCharges
6107 usd
ioacu Bank Charges
BankCharges
13605 usd
ioacu Bank Charges
BankCharges
23930 usd
CY2024Q3 ioacu Other Borrowings Costs
OtherBorrowingsCosts
202538 usd
CY2023Q3 ioacu Other Borrowings Costs
OtherBorrowingsCosts
31235 usd
ioacu Other Borrowings Costs
OtherBorrowingsCosts
363954 usd
ioacu Other Borrowings Costs
OtherBorrowingsCosts
48605 usd
CY2024Q3 us-gaap Financing Interest Expense
FinancingInterestExpense
2160178 usd
CY2023Q3 us-gaap Financing Interest Expense
FinancingInterestExpense
8363800 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
2320963 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
29884357 usd
CY2023Q3 ioacu Interest On Vehicle Loans
InterestOnVehicleLoans
12915 usd
ioacu Interest On Vehicle Loans
InterestOnVehicleLoans
25777 usd
CY2023Q3 ioacu Finance Costs To Related Parties
FinanceCostsToRelatedParties
12915 usd
ioacu Finance Costs To Related Parties
FinanceCostsToRelatedParties
25777 usd
CY2024Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4483 usd
CY2023Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-12851 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-14608 usd
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-20387 usd
CY2023Q3 ioacu Change In Fair Value Of Preferred Stock Warrant Liability
ChangeInFairValueOfPreferredStockWarrantLiability
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ioacu Change In Fair Value Of Preferred Stock Warrant Liability
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ioacu Chanages In Fair Valueof Finance Cost Convertible Note
ChanagesInFairValueofFinanceCostConvertibleNote
-970020 usd
CY2024Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
637 usd
CY2023Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
17553 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1194 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
84093 usd
CY2024Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
73 usd
CY2023Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
-3633 usd
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
-2850 usd
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
1385 usd
CY2024Q3 us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
971 usd
CY2023Q3 us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
2487 usd
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
1781 usd
us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
13698 usd
CY2024Q3 ioacu Loss On Assets Written Off
LossOnAssetsWrittenOff
-56 usd
CY2023Q3 ioacu Loss On Assets Written Off
LossOnAssetsWrittenOff
-40014 usd
ioacu Loss On Assets Written Off
LossOnAssetsWrittenOff
-93740 usd
ioacu Loss On Assets Written Off
LossOnAssetsWrittenOff
-40014 usd
CY2023Q3 ioacu Provision Written Back
ProvisionWrittenBack
113827 usd
ioacu Provision Written Back
ProvisionWrittenBack
22556 usd
ioacu Provision Written Back
ProvisionWrittenBack
113827 usd
CY2024Q3 ioacu Payable To Customer Written Back
PayableToCustomerWrittenBack
-8625 usd
CY2023Q3 ioacu Payable To Customer Written Back
PayableToCustomerWrittenBack
-5413 usd
ioacu Payable To Customer Written Back
PayableToCustomerWrittenBack
-13153 usd
ioacu Payable To Customer Written Back
PayableToCustomerWrittenBack
-57503 usd
CY2024Q3 ioacu Other Expenses Net
OtherExpensesNet
16636 usd
CY2023Q3 ioacu Other Expenses Net
OtherExpensesNet
20725 usd
ioacu Other Expenses Net
OtherExpensesNet
102921 usd
ioacu Other Expenses Net
OtherExpensesNet
49944 usd
CY2024Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-28007 usd
CY2023Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-271497 usd
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-1031781 usd
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-522716 usd
CY2023Q3 ioacu Interest Income From Related Parties
InterestIncomeFromRelatedParties
1626 usd
ioacu Interest Income From Related Parties
InterestIncomeFromRelatedParties
5676 usd
CY2023Q3 ioacu Other Income From Related Parties
OtherIncomeFromRelatedParties
1626 usd
ioacu Other Income From Related Parties
OtherIncomeFromRelatedParties
5676 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-2463842 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-9698563 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-2182865 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-31176668 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-888133 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2703724 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-3700689 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-10006751 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3351975 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-12402287 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5883554 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-41183419 usd
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-3351975 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-12402287 usd
us-gaap Net Income Loss
NetIncomeLoss
-5883554 usd
us-gaap Net Income Loss
NetIncomeLoss
-41183419 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
756980 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4828 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
721249 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4828 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
756980 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4828 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
721249 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4828 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.43
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2568.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8530.12
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.43
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2568.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8530.12
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13198653 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
302307228 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12694332 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
302307228 shares
CY2024Q3 ioacu Gratuity
Gratuity
77170 usd
CY2024Q1 ioacu Gratuity
Gratuity
93967 usd
CY2024Q3 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
69134 usd
CY2024Q1 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
89688 usd
CY2024Q3 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
146304 usd
CY2024Q1 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
183655 usd
CY2024Q3 ioacu Gratuity Non Current
GratuityNonCurrent
214398 usd
CY2024Q1 ioacu Gratuity Non Current
GratuityNonCurrent
258524 usd
CY2024Q3 ioacu Compensated Absences Liability Non Current
CompensatedAbsencesLiabilityNonCurrent
163460 usd
CY2024Q1 ioacu Compensated Absences Liability Non Current
CompensatedAbsencesLiabilityNonCurrent
232925 usd
CY2024Q3 ioacu Other Statutory Dues
OtherStatutoryDues
2207 usd
CY2024Q3 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
380065 usd
CY2024Q1 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
491449 usd
CY2024Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-21276 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-30473 usd
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
42235 usd
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
43605 usd
CY2024Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
1672 usd
CY2023Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
5287 usd
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
3351 usd
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToParent
10609 usd
CY2024Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-19604 usd
CY2023Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-25186 usd
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
45586 usd
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
54214 usd
CY2024Q3 ioacu Actuarialgainloss Due To Demographic Assumption Changes In Defined Benefit Obligation
ActuarialgainlossDueToDemographicAssumptionChangesInDefinedBenefitObligation
2004 usd
CY2023Q3 ioacu Actuarialgainloss Due To Demographic Assumption Changes In Defined Benefit Obligation
ActuarialgainlossDueToDemographicAssumptionChangesInDefinedBenefitObligation
-8491 usd
ioacu Actuarialgainloss Due To Demographic Assumption Changes In Defined Benefit Obligation
ActuarialgainlossDueToDemographicAssumptionChangesInDefinedBenefitObligation
1063 usd
ioacu Actuarialgainloss Due To Demographic Assumption Changes In Defined Benefit Obligation
ActuarialgainlossDueToDemographicAssumptionChangesInDefinedBenefitObligation
748 usd
CY2024Q3 ioacu Actuarialgain Loss Due To Financial Assumption Changes In Defined Benefit Obligation
ActuarialgainLossDueToFinancialAssumptionChangesInDefinedBenefitObligation
3378 usd
CY2023Q3 ioacu Actuarialgain Loss Due To Financial Assumption Changes In Defined Benefit Obligation
ActuarialgainLossDueToFinancialAssumptionChangesInDefinedBenefitObligation
-5926 usd
ioacu Actuarialgain Loss Due To Financial Assumption Changes In Defined Benefit Obligation
ActuarialgainLossDueToFinancialAssumptionChangesInDefinedBenefitObligation
2701 usd
ioacu Actuarialgain Loss Due To Financial Assumption Changes In Defined Benefit Obligation
ActuarialgainLossDueToFinancialAssumptionChangesInDefinedBenefitObligation
-5535 usd
CY2024Q3 ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation
ActuarialgainlossDueToExperienceOnDefinedBenefitObligation
-26571 usd
CY2023Q3 ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation
ActuarialgainlossDueToExperienceOnDefinedBenefitObligation
-16056 usd
ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation
ActuarialgainlossDueToExperienceOnDefinedBenefitObligation
38558 usd
ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation
ActuarialgainlossDueToExperienceOnDefinedBenefitObligation
48392 usd
CY2024Q3 ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation Total
ActuarialgainlossDueToExperienceOnDefinedBenefitObligationTotal
-21189 usd
CY2023Q3 ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation Total
ActuarialgainlossDueToExperienceOnDefinedBenefitObligationTotal
-30473 usd
ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation Total
ActuarialgainlossDueToExperienceOnDefinedBenefitObligationTotal
42322 usd
ioacu Actuarialgainloss Due To Experience On Defined Benefit Obligation Total
ActuarialgainlossDueToExperienceOnDefinedBenefitObligationTotal
43605 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
38585 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
60722 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
38990 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
26493 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
15753 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
111026 usd
CY2024Q1 us-gaap Defined Benefit Plan Expected Future Benefit Payments Remainder Of Fiscal Year
DefinedBenefitPlanExpectedFutureBenefitPaymentsRemainderOfFiscalYear
291569 usd
CY2024Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
-45949 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
-1358 usd
CY2023Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
-50911 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
101628 usd
CY2023Q3 ioacu Defined Benefit Plan Services Cost
DefinedBenefitPlanServicesCost
-9304 usd
CY2024Q3 ioacu Defined Benefit Plan Services Cost
DefinedBenefitPlanServicesCost
-16260 usd
ioacu Defined Benefit Plan Services Cost
DefinedBenefitPlanServicesCost
25940 usd
ioacu Defined Benefit Plan Services Cost
DefinedBenefitPlanServicesCost
125756 usd
CY2023Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
4574 usd
CY2024Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
5189 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9737 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
10412 usd
CY2023Q3 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
41219 usd
CY2024Q3 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
39840 usd
us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
37035 usd
us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
34540 usd
CY2023Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-45949 usd
CY2024Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-50911 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-1358 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
101628 usd
CY2024Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
65147 usd
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
158559 usd
CY2023Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
106493 usd
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
218823 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
719167 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
196953 shares
us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
19695305 shares
ioacu Percentage Of Issued And Outstanding Shares
PercentageOfIssuedAndOutstandingShares
0.03 pure
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
173693 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
617905 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.60 pure
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
2.2
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1265828 usd
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P0Y11M15D
CY2024Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
614206 usd
CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
1496144 usd
CY2024Q3 us-gaap Accounts Receivable Fair Value Disclosure
AccountsReceivableFairValueDisclosure
102658 usd
CY2024Q1 us-gaap Accounts Receivable Fair Value Disclosure
AccountsReceivableFairValueDisclosure
194197 usd
CY2024Q1 us-gaap Short Term Investments
ShortTermInvestments
298495 usd
CY2024Q3 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
355054 usd
CY2024Q1 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
445828 usd
CY2024Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
25553 usd
CY2024Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
91947 usd
CY2024Q3 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
1062510 usd
CY2024Q1 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
770941 usd
CY2024Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2159981 usd
CY2024Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3297552 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Fair Value Disclosure
AccountsPayableAndAccruedLiabilitiesFairValueDisclosure
15903160 usd
CY2024Q1 us-gaap Accounts Payable And Accrued Liabilities Fair Value Disclosure
AccountsPayableAndAccruedLiabilitiesFairValueDisclosure
14431587 usd
CY2024Q3 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
3663830 usd
CY2024Q1 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
5049483 usd
CY2024Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1510041 usd
CY2024Q3 ioacu Other Financial Liabilities Fair Value Disclosure
OtherFinancialLiabilitiesFairValueDisclosure
1271066 usd
CY2024Q1 ioacu Other Financial Liabilities Fair Value Disclosure
OtherFinancialLiabilitiesFairValueDisclosure
1232930 usd
CY2024Q3 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
22348097 usd
CY2024Q1 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
20714000 usd
CY2024Q3 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
623046 usd
CY2024Q3 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
6772885 usd
CY2024Q1 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
629908 usd
CY2024Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
10067601 usd
ioacu Stock Price Decrease
StockPriceDecrease
25 usd
CY2024Q3 us-gaap Share Price
SharePrice
0.25
us-gaap Assumption For Fair Value On Securitization Date Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Discount Rate
AssumptionForFairValueOnSecuritizationDateOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesDiscountRate
0.149 pure
CY2023Q1 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
405059 usd
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100000 shares
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100000 shares
CY2024Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
10000000 usd
CY2024Q1 us-gaap Environmental Exit Costs Assets Previously Disposed Liability For Remediation
EnvironmentalExitCostsAssetsPreviouslyDisposedLiabilityForRemediation
3500000 usd
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
15900000 usd
us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
15900000 usd
CY2024Q2 us-gaap Shares Held In Employee Stock Option Plan Committed To Be Released
SharesHeldInEmployeeStockOptionPlanCommittedToBeReleased
1100000 shares
CY2024Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
128386 usd
CY2024Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
129027 usd
CY2024Q3 us-gaap Income Tax Examination Penalties Accrued
IncomeTaxExaminationPenaltiesAccrued
128386 usd
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q3 us-gaap Short Term Investments
ShortTermInvestments
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CY2024Q1 ioacu Redeemable Promissory Note
RedeemablePromissoryNote
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CY2024Q1 ioacu Redeemable Promissory Note
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Entity Central Index Key
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