Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 66

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 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.

    33

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-year 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 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 (“Note #2”) has an original principal amount of US$4,200,000 and Investor gave consideration of US$4.0