Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 886

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1
Chunk 886
---
 issue discount of $18,000 (“Labrys Note”)and net proceeds to the Company of $158,500 after adjusting issuance
cost of $3,500. The note is repayable in 12 months maturing on August 19, 2026 with interest accruing at 12 % per annum on the outstanding
principal. This note is subject to a default interest at a rate of 22% per annum and include customary events of default and covenants.

88

On August 24, 2025, the Company
closed a Securities Purchase Agreement (“AES SPA”) with AES Capital Management, LLC(“AES”) in connection with
purchase of convertible redeemable notes. Pursuant to the AES SPA, AES purchased 2 notes for an aggregate principal amount $112,500split
into $75,000and $37,500 respectively (“AES Notes”). The note amounting $75,000 is the “Primary Notes” and the
subsequent note of $37,500 is the “Secondary Note”. The AES Notes are repayable in 12 months from their respective closing
dates with interest accruing at 8% per annum on the outstanding principal. As of date of filing of this 10-Q, the Company received net
proceeds of $ 71,000 after adjusting deduction of legal and due diligence fees of $4,000 from the issuance and closing of the Primary
Notes. The AES Notes are subject to a default interest at a rate of 22% per annum and include customary events of default
and covenants.

On August 24, 2025, the Company
closed a Securities Purchase Agreement (“CFI SPA”) with CFI CAPITAL LLC (“CFI”) in connection with purchase of
convertible redeemable notes. Pursuant to the CFI SPA, CFI purchased a convertible for a principal amount of $150,000 at an original issue
discount of $15,000. The note is repayable in 12 months maturing on August 24, 2026 with interest accruing at 6 % per annum on the outstanding
principal. The Company received net proceeds of $130,000 after adjusting issuance cost of $5000. This note is subject to a default penalty
amounting to increase in the principal amount by 50% and includes customary events of default and covenants.

The Company believes that
current cash and cash equivalents will allow the Company to continue operations through March 31, 2026 assuming that the