Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 264

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 264
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 to the applicable conversion date.

The
interest on the Unsecured notes was $69,666 and $73,897 for the three months and six months ended September 30, 2025 ($NIL and $NIL for
the three months and six months ended September 30, 2024 which has been recognized in the Condensed Consolidated Statements of Operations
for their respective periods.

(This
space has been left intentionally blank)

33

ZOOMCAR
HOLDINGS, INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

14BConvertible
notes

The
following is a summary of the Company’s Convertible Redeemable notes payable as of September 30, 2025 and March 31, 2025:

    (In USD) As at 
    September 30,  2025  
    March 31,  2025 
  
    Convertible Redeemable notes 
    $226,772  
    $- 
  
    Less: Discount and debt issuance cost on issuance, net of amortization 
     (21,833) 
     - 

    Promissory note 
    $182,971  
    $- 
  
    Less: Discount and debt issuance cost on issuance, net of amortization 
     (17,353) 
     - 
  
    Total 
    $370,557  
    $- 

On
August 24, 2025 , the Company entered into Securities Purchase Agreements with certain institutional accredited investors pursuant
to which the Company issued convertible redeemable notes for a total principal amount of $225,000 with an initial issue discount of
$15,000. The net proceeds disbursed to the Company were $201,000 after deduction of legal and due diligence fees of $9,000. Hence,
the total debt issuance costs amounts to $9,000.

On August 19, 2025 , the Company entered
into Securities Purchase Agreement with certain institutional accredited investor pursuant to which the Company issued a Promissory Note
for a total principal amount of $180,000 with an initial issue discount of $18,000. The net proceeds disbursed to the Company were $158,500
after deduction of legal and due diligence fees of $3,500. Hence, the total debt issuance costs amounts to $3,500.

Terms
of Convertible notes

The
convertible redeemable notes issued