Zoomcar issues $220K convertible note to FirstFire with 25% conversion discount, 12% interest

Zoomcar Holdings, Inc.

Issued $220K convertible promissory note to FirstFire; net proceeds ~$200K after $20K original issue discount.
Note matures in 12 months, 12% interest, scheduled repayments, prepayable at a discount.
On uncured default after 180 days, conversion at 75% of lowest 15-day VWAP (25% discount).
Issued pre-funded warrants for 1M shares as additional consideration and to settle prior claims.
Piggyback registration rights for 12 months; default penalty increases principal by 50%.

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