Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 93

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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 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 December 31, 2024, shares of the
Company’s common stock totaling 998,021 were issued by the Company to the Investor equaling principal and interests amounted to
US$7,685,719 and cash totaling US$1,050,000 was repaid to the Investor. The notes balance was US$5,133,492, with a carrying value of
US$5,374,817, net of deferred financing costs of US$241,325 was recorded in the accompanying unaudited condensed consolidated balance
sheets as of December 31, 2024.

On
June 20, 2024, the Company entered into a securities purchase agreement with certain non-U.S. investors (the