Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 949

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 1
Chunk 949
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 failure to convert shares etc. at a variable per share conversion price equivalent to 75% of
the lowest closing bid price of the common stock during fifteen (15) trading days immediately preceding date of the Conversion Notice
per share, subject to certain anti-dilution and beneficial ownership limitation terms. The issuance was made in reliance on Section 4(a)(2)
and/or Rule 506(b). No underwriters or brokers were involved. The Company intends to use the proceeds for working capital in its day-day
to operations.

On August 24, 2025, the Company
issued $75,000 aggregate principal amount of unsecured convertible promissory notes (the “AES Note”) to AES Capital Management,
LLC (“AES”) an accredited investor for cash proceeds of $71,000. The AES Note matures on August 24, 2026, bears interest at
8% per annum and is convertible into shares of our common stock upon default and other specified triggers pertaining to insolvency, delisting,
certain money judgements, failure to convert shares etc. at a variable per share conversion price equivalent to 72.5% of the average of
the three lowest trading prices of the common stock as reported on the OTC Markets 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
and is subject to a beneficial ownership limitation. The issuance was made in reliance on Section 4(a)(2) and/or Rule 506(b). No underwriters
or brokers were involved. The Company intends to use the proceeds for working capital in its day-day to operations.

On August 24, 2025, the Company
issued $150,000 aggregate principal amount of unsecured convertible promissory notes (the “CFI Note”) to CFI CAPITAL LLC (“CFI”)
an accredited investor for cash proceeds of $130,000. The CFI Note matures on August 24, 2026; bears interest at 6% and is convertible
into shares of our common stock upon default and other specified triggers pertaining to insolvency, delisting, certain money judgements,
failure to convert shares etc. at a variable per share conversion price equivalent to 72% of the lowest trading price of the common stock
as reported on the OTC Markets on then traded or any exchange upon which the common stock may be traded in the future for the fifteen
prior trading