Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 126

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 126
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 to the same investor. The
first convertible promissory note has an original principal amount of US$3,170,000 and the Investor gave consideration of US$3.0 million,
reflecting original issue discount of US$150,000 and Investor’s legal fee of US$20,000. The second convertible promissory note has
an original principal amount of US$4,200,000 and the Investor gave consideration of US$4.0 million, reflecting original issue discount
of US$200,000.

On August 19, 2021, we entered into a securities purchase
agreement pursuant to which we issued an unsecured convertible promissory note with a one-year maturity term to the same investor. The
Note has the original principal amount of US$10,520,000 and Investor gave consideration of US$10.0 million, reflecting original issue
discount of US$500,000 and Investor’s legal fee of US$20,000. We received principal in full from the Investor and we anticipate
using the proceeds for general working capital purposes. On September 7, 2022, the Company signed an extension amendment with the Investor
to extend the maturity date to August 23, 2023. On October 21, 2022, the Company signed a standstill agreement with the Investor, pursuant
to which the Investor will not seek to redeem any portion of the note during the period from October 21, 2022 to January 20, 2023. On
June 15, 2023, the Company signed an extension amendment with the Investor to extend the maturity date to August 23, 2024. On December
21, 2023, the Company entered into a preliminary agreement with the Investor, pursuant to which the Investor would not seek repayment
of any portion of the note during the period from December 22, 2023 to April 16, 2024. On June 11, 2024, the Company signed an extension
amendment with the Investor to extend the maturity date to August 23, 2025.

For the above-mentioned convertible promissory notes
issued, as of March 31, 2025, shares of the Company’s common stock totaling 1,172,135 were issued by the Company to the Investor
equaling principal and interests amounted to US$15,258,357, and cash totaling US$1,050,000 was repaid to the Investor.