Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 69

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 69
---
 31, 2025 and 2024, respectively.

NOTE 14 - CONVERTIBLE NOTES PAYABLE

On June 16, 2021, the Company entered into a Securities
Purchase Agreement pursuant to which the Company issued an unsecured convertible promissory note with a maturity date of June 17, 2022
(“the Note”) to an institutional accredited investor Streeterville Capital, LLC (“Investor”). The Note has the
original principal amount of US$3,170,000 and 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. On September 7, 2022, the Company signed an extension amendment with the Investor to extend
the maturity date of the Note to June 17, 2023, resulting in an increase of the principal amount to US$3,500,528. On October 21, 2022,
the Company signed a standstill agreement with the Investor, pursuant to which the Investor would not seek repayment of any portion of
the Note during the period from October 21, 2022 to January 20, 2023. On January 18, 2023, the Investor re-started the repayment of the
Notes. Thereafter, the Company signed a second extension amendment dated as June 15, 2023, with the Investor to extend the maturity date
to June 17, 2024, thereby increasing the principal amount to US$3,929,498. 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. The Company signed a third extension amendment dated as June 11, 2024, with the Investor to extend
the maturity date to June 17, 2025, thereby increasing the principal amount to US$4,340,781.

On July 16, 2021, the Company entered into a Securities
Purchase Agreement (the “July Agreement”) pursuant to which the Company issued two unsecured convertible promissory notes
with a one-1year maturity term (the “Notes”) to the same Investor. The first convertible promissory note (“Note #1”)
has an original principal amount of US$3,170,000 and the