Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 188

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 188
---
 eighteen (18) months after the purchase price of the Note is delivered by Purchaser to the Company (the “Purchase Price Date”). The Company may prepay all or a portion of the Note at any time by paying 120% of the outstanding balance elected for pre-payment. The Investor has the right to redeem the Note at any time six (6) months after the Purchase Price Date (the “Redemption Start Date”), subject to maximum monthly redemption amount of $ 200,000. The Company should pay the applicable redemption amount in cash to the Investor within three (3) Trading Days following the investor’s delivery of a redemption notice. At the end of each month following the Redemption Start Date, if the Company has not reduced the Outstanding Balance by at least $ 160,000, then by the fifth (5th) day of the following month, the Company must pay in cash to the Investor the difference between $ 160,000and the amount actually redeemed in such month or the Outstanding Balance will automatically increase by one percent (1%) as of such fifth (5th) day. Under the Note Purchase Agreement, while the Note is outstanding, the Company agreed to keep adequate public information available and maintain its Nasdaq listing.

During the year ended December 31, 2024, the Company amortized OID of $ 25,134and recorded $ 89,462interest expense on this Note and the Company and Lender exchanges these Partitioned notes of $ 580,000for the delivery of 3,351,070(pre-reverse split) shares of the Company’s common stock. The Company recorded $ 268,806loss on conversion of these notes in the year ended December 31, 2024 and made repayment of $ 50,000by cash to this note. As of December 31, 2024, the outstanding principal balance of this note was $ 560,366, net of unamortized OID of $ 3,495. During the year ended December 31, 2023, the Company amortized OID of $ 21,371and recorded $ 37,569interest expense on this Note.

Unsecured Promissory Note in January 2024

On January 25, 2024, the Company entered into a note
purchase agreement (the “2024 Note Purchase Agreement”) with Guoxiang Hu (the “Investor”), pursuant to which the
Company issued the Investor an unsecured promissory note in the principal amount of $4,