Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 119

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 119
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 to which we issued an unsecured convertible promissory note with
a one-year maturity term to an institutional accredited investor Streeterville Capital, LLC (“Investor”). The convertible
promissory 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. We received principal in full from the Investor. On September
7, 2022, we signed an extension amendment with the Investor to extend the maturity date to June 17, 2023. On October 21, 2022, the Company
signed a standstill agreement with the Investor, pursuant to which the Investor would not seek to redeem 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 redemption of the notes. On June
15, 2023, the Company signed an extension amendment with the Investor to extend the maturity date to June 17, 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 June 17, 2025.

61

On
July 16, 2021, we entered into a securities purchase agreement pursuant to which we issued two unsecured convertible promissory notes
with a one-year maturity term to the same investor. The first convertible promissory note 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 has an original principal amount of US$4,200,000 and the Investor gave consideration
of US$4.0 million, reflecting original issue discount of US$200,000.

On
August 19, 2021, we entered into a securities purchase agreement pursuant to which we issued an unsecured convertible promissory note
with a one-year maturity term to the same