Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 1061

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1A
Chunk 1061
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rys totaling a principal amount of $180,000 at a discount of $18,000. The Labrys Note is repayable in 12 months maturing
on August 19, 2026 with interest accruing at 12 % per annum on the outstanding principal. The Company received net proceeds of $158,500
after adjusting issuance cost of $3,500. While the Labrys Note is convertible 180 days from issuance of the Labrys Note at the option
of Labrys, Labrys may in the event of an uncured default under the Labrys Note, elect the right to convert the outstanding amount (includes
principal, accrued interest, default interest, and other fees as applicable) into the Company’s Common stock at a conversion price
equal to 75% of the lowest closing bid price of the Company’s Common stock during the fifteen trading days immediately prior to
the applicable conversion date.

On August 24, 2025, the Company
issued to AES notes with an aggregate principal amount $112,500split into $75,000and $37,500 respectively ( the AES Notes). The note amounting
$75,000 is the “Primary Note” 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 issuance cost of $4,000from the issuance and closing of the
Primary Notes. Apart from the events of default under the AES Notes that maty trigger conversion, the AES Notes are convertible at the
option of the holder at any time for the then outstanding amounts (including principal, accrued interest, default interest, and other
fees as applicable) into the Company’s Common stock at a conversion price equal to 72.5% of the average of the three lowest trading
prices of the Common Stock as reported on the OTC Markets on which the Company’s shares are then traded or any exchange upon which
the Common Stock may be traded in the future, for the seven prior trading days including the day upon which a Notice of Conversion is
received by the Company.

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