Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 102

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 102
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 fully converted and shares of the Company’s common stock totaling 8,112 were issued by the Company to the Investor
equaling principal and interests amounted to US$7,472,638.

On August 19, 2021, the Company entered into another
securities purchase agreement with the Investor, pursuant to which the Company issued the Investor an unsecured convertible promissory
note with a one-year maturity term. The note has an 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. Interest accrues on the outstanding
balance of the note at 6% per annum. The Company has received the principal in full from the Investor and used 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. As of March 31, 2025, shares of the Company’s common stock totaling 1,164,023 were
issued by the Company to the Investor equaling principal and interests amounted to US$7,785,719 and cash totaling US$1,050,000 was repaid
to the Investor. The notes balance was US$5,217,600, with a carrying value of US$5,355,500, net of deferred financing costs of US$137,900
was recorded in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2025.