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

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
 cash equivalents of continuing operations - Ended of the period 
    $192,735  
    $396,771 

    SUPPLEMENTAL CASH FLOW DISCLOSURES: 

    Cash paid for interest 
    $473,981  
    $436,081 

    SUPPLEMENTAL NON-CASH OPERATING, INVESTING AND FINANCING ACTIVITIES: 

    Issuance of common shares for convertible notes redemption 
    $3,969,999  
    $1,595,720 
  
    Issuance of common shares for proceeds received in prior year 
    $6,728,291  
    $- 
  
    Issuance of common shares for business acquisition 
    $-  
    $2,300,000 
  
    Transferal of equity interest of Tenet Jove for business acquisition of Wintus 
    $-  
    $37,705,951 
  
    Right-of-use assets obtained in exchange for operating lease obligations 
    $41,800  
    $32,828 

The
accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

5

NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS

Shineco, Inc. (“Shineco” or the “Company”)
was incorporated in the State of Delaware on August 20, 1997. The Company is a holding company whose primary purpose is to develop business
opportunities in the People’s Republic of China (the “PRC” or “China”).

On December 30, 2004, the Company acquired all of
the issued and outstanding shares of Beijing Tenet-Jove Technological Development Co., Ltd. (“Tenet-Jove”), a PRC company,
in exchange for restricted shares of the Company’s common stock, and the sole operating business of the Company became that of its
subsidiary, Tenet-Jove. Tenet-Jove was incorporated on December 15, 2003 under the laws of China. Consequently, Tenet-Jove became a 100%
owned subsidiary of Shineco and was officially granted the status of a wholly foreign-owned entity by Chinese authorities on July 14,
2006. This transaction was accounted for as a recapitalization. Tenet-Jove owns 90% interest of Tianjin Tenet Huatai Technological Development
Co., Ltd. (“Tenet Huatai”).

On