Exhibit 10.11


 


THIS NOTE HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY
NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION
OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.


 


PROMISSORY NOTE


 


	Principal Amount: $200,000.00	Dated as of February 23rd, 2018


 


Trident Acquisitions Corp.,
a Delaware corporation (the “Maker”), promises to pay to the order of FLOCO Ventures LLC or his registered assigns
or successors in interest (the “Payee”) the principal sum of one hundred thousand dollars ($200,000.00) in lawful
money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by
check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may
from time to time designate by written notice in accordance with the provisions of this Note.


 


		1.	Principal. The principal balance of this Promissory
Note (this “Note”) shall be payable promptly after the date on which the Maker consummates an initial public
offering of its securities or the date on which the Company determines not to conduct an initial public offering of its securities.
The principal balance may be prepaid at any time.



 


		2.	Interest. No interest shall accrue on the unpaid
principal balance of this Note.



 


		3.	Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
under this Note, including (without limitation) reasonable attorney’s
fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.



 


		4.	Events of Default. The following shall constitute
an event of default (“Event of Default”):



 


		(a)	Failure to Make Required Payments. Failure by
Maker to pay the principal of this Note within five (5) business days following the date when due.



 


		(b)	Voluntary Liquidation, Etc. The commencement
by Maker of a proceeding relating to its bankruptcy, insolvency, reorganization, rehabilitation or other similar action, or the
consent by it to the appointment of, or taking possession by, a receiver, liquidator, assignee, trustee, custodian, sequestrator
(or other similar official) for Maker or for any substantial part of its property, or the making by it of any assignment for the
benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate
action by Maker in furtherance of any of the foregoing.



 




    	 	 	 



     


    

  


		(c)	Involuntary Bankruptcy, Etc. The entry of a
decree or order for relief by a court having jurisdiction in the premises in respect of maker in an involuntary case under any
applicable bankruptcy, insolvency or similar law, for the appointing of a receiver, liquidator, assignee, custodian, trustee,
sequestrator (or similar official) for Maker or for any substantial part of its property, or ordering the winding-up or liquidation
of the affairs of Maker, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.



 


		5.	Remedies.



 


		(a)	Upon the occurrence of an Event of Default specified
in Section 4(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon
the unpaid principal amount of this Note, and all other amounts payable thereunder, shall become immediately due and payable without
presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein
or in the documents evidencing the same to the contrary notwithstanding.



 


		(b)	Upon the occurrence of an Event of Default specified
in Sections 4(b) and 4(c), the unpaid principal balance of this Note, and all other sums payable with regard to this Note, shall
automatically and immediately become due and payable, in all cases without any action on the part of Payee.



 


		6.	Waivers. Maker and all endorsers and guarantors
of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with
regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under the terms of this Note,
and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal,
or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, or providing
for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate
that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may be sold
upon any such writ in whole or in part in any order desired by Payee.



 


		7.	Unconditional Liability. Maker hereby waives all
notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees
that its liability shall be unconditional, without regard to the liability of any other party, and shall not be affected in any
manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to
any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or
other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto
without notice to Maker or affecting Maker’s
liability hereunder.






 


		8.	Notices. Any notice called for hereunder shall be
deemed properly given if (i) sent by certified mail, return receipt requested, (ii) personally delivered, (iii) dispatched by
any form of private or governmental express mail or delivery service providing receipted delivery or (iv) sent by facsimile or
(v) to the following addresses or to such other address as either party may designate by notice in accordance with this Section:



 




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If to Maker:


 


Trident Acquisitions Corp.


77 Water Street, Fl 8,


New York, NY 10005


Attn: Vadim Komissarov


 


If to Payee:


 


	 	 
	 	 
	 	 
	 	 


 


Notice shall be deemed
given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a facsimile transmission confirmation,
(iii) the date reflected on a signed delivery receipt, or (iv) two (2) Business Days following tender of delivery or dispatch by
express mail or delivery service.


 


		9.	Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.



 


		10.	Jurisdiction. The courts of New York have exclusive
jurisdiction to settle any dispute arising out of or in connection with this agreement (including a dispute relating to any non-contractual
obligations arising out of or in connection with this agreement) and the parties submit to the exclusive jurisdiction of the courts
of New York.



 


		11.	Severability. Any provision contained in this Note
which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.



 


		12.	Trust Waiver. Notwithstanding anything herein to
the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in
or to any amounts contained in the trust account in which the proceeds of the initial public offering (the “IPO”)
conducted by the Maker and the proceeds of the sale of securities in a private placement to occur prior to the effectiveness of
the IPO, as described in greater detail in the registration statement and prospectus to be filed with the Securities and Exchange
Commission in connection with the IPO, will be placed, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction
for any Claim from the trust account or any distribution therefrom for any reason whatsoever.



 




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		13.	Amendment; Waiver. Any amendment hereto or waiver
of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.



 


		14.	Assignment. No assignment or transfer of this Note
or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written
consent of the other party hereto and any attempted assignment without the required consent shall be void.



 


		15.	Further Assurance. The Maker shall, at its own cost
and expense, execute and do (or procure to be executed and done by any other necessary party) all such deeds, documents, acts
and things as the Payee may from time to time require as may be necessary to give full effect to this Promissory Note.



 


IN WITNESS WHEREOF, Maker, intending to be legally bound hereby,
has caused this Note to be duly executed by its Chief Executive Officer the day and year first above written.


 


	 	TRIDENT ACQUISITIONS CORP.
	 	 	 
	 	By:	/s/ Vadim Komissarov
	 	 	Name: Vadim Komissarov
	 	 	Title: President


 








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