Document:

Exhibit 10.43

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (the “Agreement”), dated as of August 11, 2020, by and between ELECTROMEDICAL TECHNOLOGIES, INC.,
a Delaware corporation, with its address at 16561 N. 92nd Street, Suite 101, Scottsdale, AZ 85260 (the “Company”), and
REDSTART HOLDINGS CORP., a New York corporation, with its address at 1188 Willis Avenue, Albertson, New York 11507 (the “Buyer”).

 

WHEREAS:

 

A.           The
Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under
the Securities Act of 1933, as amended (the “1933 Act”); and

 

B.            Buyer
desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement a convertible
note of the Company, in the form attached hereto as Exhibit A, in the aggregate principal amount of $103,000.00 (together with any
note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with the terms thereof,
the “Note”), convertible into shares of common stock, $0.00001 par value per share, of the Company (the “Common Stock”),
upon the terms and subject to the limitations and conditions set forth in such Note.

 

NOW
THEREFORE, the Company and the Buyer severally (and not jointly) hereby agree as follows:

 

		1.	Purchase and Sale of Note.

 

a.            Purchase
of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase
from the Company such principal amount of Note as is set forth immediately below the Buyer’s name on the signature
pages hereto.

 

b.           Form of
Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note to be issued and sold
to it at the Closing (as defined below) (the “Purchase Price”) by wire transfer of immediately available funds to the Company,
in accordance with the Company’s written wiring instructions, against delivery of the Note in the principal amount equal to the
Purchase Price as is set forth immediately below the Buyer’s name on the signature pages hereto, and (ii) the Company
shall deliver such duly executed Note on behalf of the Company, to the Buyer, against delivery of such Purchase Price.

 

     

     

    

 

c.            Closing
Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section 7
below, the date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be
12:00 noon, Eastern Standard Time on or about August 12, 2020, or such other mutually agreed upon time. The closing of the
transactions contemplated by this Agreement (the “Closing”) shall occur on the Closing Date at such location as may be
agreed to by the parties.

 

		2.	Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company that:

 

a.            Investment
Purpose. As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of or otherwise
pursuant to the Note (such shares of Common Stock being collectively referred to herein as the “Conversion Shares” and, collectively
with the Note, the “Securities”) for its own account and not with a present view towards the public sale or distribution thereof,
except pursuant to sales registered or exempted from registration under the 1933 Act.

 

b.            Accredited
Investor Status. The Buyer is an “accredited investor” as that term is defined in Rule 501(a) of
Regulation D (an “Accredited Investor”).

 

c.            Reliance
on Exemptions. The Buyer understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and
understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility of the
Buyer to acquire the Securities.

 

d.            Information.
The Company has not disclosed to the Buyer any material nonpublic information and will not disclose such information unless such
information is disclosed to the public prior to or promptly following such disclosure to the Buyer.

 

    	 	2	 

     

    

 

e.            Legends.
The Buyer understands that the Note and, until such time as the Conversion Shares have been registered under the 1933 Act; or may be
sold pursuant to an applicable exemption from registration, the Conversion Shares may bear a restrictive legend in substantially the
following form:

 

	 	"THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER ANY STATE SECURITIES LAWS, AND MAY NOT BE PLEDGED, SOLD, ASSIGNED, HYPOTHECATED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR (2) THE ISSUER OF SUCH SECURITIES RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY ACCEPTABLE TO THE ISSUER’S TRANSFER AGENT, THAT SUCH SECURITIES MAY BE PLEDGED, SOLD, ASSIGNED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS." 

 

The legend set forth above
shall be removed and the Company shall issue a certificate without such legend to the holder of any Security upon which it is stamped,
if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under an effective registration
statement filed under the 1933 Act or otherwise may be sold pursuant to an exemption from registration without any restriction as to the
number of securities as of a particular date that can then be immediately sold, or (b) such holder provides the Company with an opinion
of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the effect that a public sale
or transfer of such Security may be made without registration under the 1933 Act, which opinion shall be accepted by the Company so that
the sale or transfer is effected. The Buyer agrees to sell all Securities, including those represented by a certificate(s) from which
the legend has been removed, in compliance with applicable prospectus delivery requirements, if any. In the event that the Company does
not accept the opinion of counsel provided by the Buyer with respect to the transfer of Securities pursuant to an exemption from registration,
such as Rule 144, at the Deadline, it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

f.            Authorization;
Enforcement. This Agreement has been duly and validly authorized. This Agreement has been duly executed and delivered on behalf
of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer enforceable in accordance with its
terms.

 

    	 	3	 

     

    

 

		3.	Representations and Warranties of the Company. The Company represents and warrants to the Buyer that:

 

a.            Organization
and Qualification. The Company and each of its Subsidiaries (as defined below), if any, is a corporation duly organized, validly existing
and in good standing under the laws of the jurisdiction in which it is incorporated, with full power and authority (corporate and other)
to own, lease, use and operate its properties and to carry on its business as and where now owned, leased, used, operated and conducted.
 “Subsidiaries” means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns,
directly or indirectly, any equity or other ownership interest.

 

b.            Authorization;
Enforcement. (i) The Company has all requisite corporate power and authority to enter into and perform this Agreement, the
Note and to consummate the transactions contemplated hereby and thereby and to issue the Securities, in accordance with the terms
hereof and thereof, (ii) the execution and delivery of this Agreement, the Note by the Company and the consummation by it of
the transactions contemplated hereby and thereby (including without limitation, the issuance of the Note and the issuance and
reservation for issuance of the Conversion Shares issuable upon conversion or exercise thereof) have been duly authorized by the
Company’s Board of Directors and no further consent or authorization of the Company, its Board of Directors, or its
shareholders is required, (iii) this Agreement has been duly executed and delivered by the Company by its authorized
representative, and such authorized representative is the true and official representative with authority to sign this Agreement and
the other documents executed in connection herewith and bind the Company accordingly, and (iv) this Agreement constitutes, and
upon execution and delivery by the Company of the Note, each of such instruments will constitute, a legal, valid and binding
obligation of the Company enforceable against the Company in accordance with its terms.

 

c.            Capitalization.
As of the date hereof, the authorized common stock of the Company consists of 50,000,000 authorized shares of Common Stock, $0.00001
par value per share, of which 21,265,381 shares are issued and outstanding. All of such outstanding shares of capital stock are, or
upon issuance will be, duly authorized, validly issued, fully paid and non-assessable. .

 

d.            Issuance
of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note in accordance
with its respective terms, will be validly issued, fully paid and non-assessable, and free from all taxes, liens, claims and
encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders
of the Company and will not impose personal liability upon the holder thereof.

 

    	 	4	 

     

    

 

e.            No
Conflicts. The execution, delivery and performance of this Agreement, the Note by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby (including, without limitation, the issuance and reservation for issuance of the Conversion
Shares) will not (i) conflict with or result in a violation of any provision of the Certificate of Incorporation or By-laws, or (ii) violate
or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice or lapse of time or
both could become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture, patent, patent license or instrument to which the Company or any of its Subsidiaries is a party, or (iii)  result in a
violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations
of any self-regulatory organizations to which the Company or its securities are subject) applicable to the Company or any of its Subsidiaries
or by which any property or asset of the Company or any of its Subsidiaries is bound or affected (except for such conflicts, defaults,
terminations, amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material
Adverse Effect). The businesses of the Company and its Subsidiaries, if any, are not being conducted, and shall not be conducted so long
as the Buyer owns any of the Securities, in violation of any law, ordinance or regulation of any governmental entity. “Material
Adverse Effect” means any material adverse effect on the business, operations, assets, financial condition or prospects of the Company
or its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements or instruments to be entered
into in connection herewith.

 

f.            SEC
Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required to
be filed by it with the SEC pursuant to the reporting requirements of the Securities Exchange Act of 1934, as amended (the
 “1934 Act”) (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial
statements and schedules thereto and documents (other than exhibits to such documents) incorporated by reference therein, being
hereinafter referred to herein as the “SEC Documents”). Upon written request the Company will deliver to the Buyer true
and complete copies of the SEC Documents, except for such exhibits and incorporated documents. As of their respective dates or if
amended, as of the dates of the amendments, the SEC Documents complied in all material respects with the requirements of the 1934
Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC
Documents, at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading. None of the statements made in any such SEC Documents is, or has been, required to be
amended or updated under applicable law (except for such statements as have been amended or updated in subsequent filings prior the
date hereof). As of their respective dates or if amended, as of the dates of the amendments, the financial statements of the Company
included in the SEC Documents complied as to form in all material respects with applicable accounting requirements and the published
rules and regulations of the SEC with respect thereto. Such financial statements have been prepared in accordance with United
States generally accepted accounting principles, consistently applied, during the periods involved and fairly present in all
material respects the consolidated financial position of the Company and its consolidated Subsidiaries as of the dates thereof and
the consolidated results of their operations and cash flows for the periods then ended (subject, in the case of unaudited
statements, to normal year-end audit adjustments). The Company is subject to the reporting requirements of the 1934 Act.

 

    	 	5	 

     

    

 

g.            Absence
of Certain Changes. Since March 31, 2020, except as set forth in the SEC Documents, there has been no material adverse change
and no material adverse development in the assets, liabilities, business, properties, operations, financial condition, results of operations,
prospects or 1934 Act reporting status of the Company or any of its Subsidiaries.

 

h.            Absence
of Litigation. Except as set forth in the SEC Documents, there is no action, suit, claim, proceeding, inquiry or investigation
before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the
Company or any of its Subsidiaries, threatened against or affecting the Company or any of its Subsidiaries, or their officers or
directors in their capacity as such, that could have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any
facts or circumstances which might give rise to any of the foregoing.

 

i.            No
Integrated Offering. Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly
or indirectly made any offers or sales in any security or solicited any offers to buy any security under circumstances that would
require registration under the 1933 Act of the issuance of the Securities to the Buyer. The issuance of the Securities to the Buyer
will not be integrated with any other issuance of the Company’s securities (past, current or future) for purposes of any
shareholder approval provisions applicable to the Company or its securities.

 

j.            No
Brokers. The Company has taken no action which would give rise to any claim by any person for brokerage commissions, transaction
fees or similar payments relating to this Agreement or the transactions contemplated hereby.

 

    	 	6	 

     

    

 

k.            No
Investment Company. The Company is not, and upon the issuance and sale of the Securities as contemplated by this Agreement will
not be an “investment company” required to be registered under the Investment Company Act of 1940 (an “Investment
Company”). The Company is not controlled by an Investment Company.

 

l.            Breach
of Representations and Warranties by the Company. If the Company breaches any of the representations or warranties set forth in this
Section 3, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an Event
of default under Section 3.4 of the Note.

 

		4.	COVENANTS.

 

a.            Best
Efforts. The Company shall use its best efforts to satisfy timely each of the conditions described in Section 7 of this
Agreement.

 

b.            Form D;
Blue Sky Laws. The Company agrees to timely make any filings required by federal and state laws as a result of the closing of
the transactions contemplated by this Agreement.

 

c.            Use
of Proceeds. The Company shall use the proceeds for general working capital purposes.

 

d.            Expenses.
At the Closing, the Company’s obligation with respect to the transactions contemplated by this Agreement is to reimburse
Buyer’ expenses shall be $3,000.00 for Buyer’s legal fees and due diligence fee.

 

e.            Corporate
Existence. So long as the Buyer beneficially owns any Note, the Company shall maintain its corporate existence and shall not
sell all or substantially all of the Company’s assets, except with the prior written consent of the Buyer.

 

    	 	7	 

     

    

 

f.            Breach
of Covenants. If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other
remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under Section 3.4 of the
Note.

 

g.            Failure
to Comply with the 1934 Act. So long as the Buyer beneficially owns the Note, the Company shall comply with the reporting
requirements of the 1934 Act; and the Company shall continue to be subject to the reporting requirements of the 1934 Act.

 

5.             Transfer
Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent to issue certificates, registered in
the name of the Buyer or its nominee, for the Conversion Shares in such amounts as specified from time to time by the Buyer to the
Company upon conversion of the Note in accordance with the terms thereof (the “Irrevocable Transfer Agent
Instructions”). In the event that the Company proposes to replace its transfer agent, the Company shall provide, prior to the
effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered
pursuant to this Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved
Amount as such term is defined in the Note) signed by the successor transfer agent to Company and the Company. Prior to registration
of the Conversion Shares under the 1933 Act or the date on which the Conversion Shares may be sold pursuant to an exemption from
registration, all such certificates shall bear the restrictive legend specified in Section 2(e) of this Agreement. The
Company warrants that: (i) no instruction other than the Irrevocable Transfer Agent Instructions referred to in this
Section 5, will be given by the Company to its transfer agent and that the Securities shall otherwise be freely transferable on
the books and records of the Company as and to the extent provided in this Agreement and the Note; (ii) it will not direct its
transfer agent not to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing)(electronically or in
certificated form) any certificate for Conversion Shares to be issued to the Buyer upon conversion of or otherwise pursuant to the
Note as and when required by the Note and this Agreement; and (iii) it will not fail to remove (or directs its transfer agent
not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop
transfer instructions in respect thereof) on any certificate for any Conversion Shares issued to the Buyer upon conversion of or
otherwise pursuant to the Note as and when required by the Note and/or this Agreement. If the Buyer provides the Company and the
Company’s transfer, at the cost of the Buyer, with an opinion of counsel in form, substance and scope customary for opinions
in comparable transactions, to the effect that a public sale or transfer of such Securities may be made without registration under
the 1933 Act, the Company shall permit the transfer, and, in the case of the Conversion Shares, promptly instruct its transfer agent
to issue one or more certificates, free from restrictive legend, in such name and in such denominations as specified by the Buyer.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer, by vitiating the
intent and purpose of the transactions contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a
breach of its obligations under this Section 5 may be inadequate and agrees, in the event of a breach or threatened breach by
the Company of the provisions of this Section, that the Buyer shall be entitled, in addition to all other available remedies, to an
injunction restraining any breach and requiring immediate transfer, without the necessity of showing economic loss and without any
bond or other security being required.

 

    	 	8	 

     

    

 

6. Conditions
to the Company’s Obligation to Sell. The obligation of the Company hereunder to issue and sell the Note to the Buyer at
the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions thereto, provided that
these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion:

 

a.            The
Buyer shall have executed this Agreement and delivered the same to the Company.

 

b.            The
Buyer shall have delivered the Purchase Price in accordance with Section 1(b) above.

 

c.            The
representations and warranties of the Buyer shall be true and correct in all material respects as of the date when made and as of
the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date), and the
Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

d.            No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

7.             Conditions
to The Buyer’s Obligation to Purchase. The obligation of the Buyer hereunder to purchase the Note at the Closing is subject
to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions are for the Buyer’s
sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a.            The
Company shall have executed this Agreement and delivered the same to the Buyer.

 

    	 	9	 

     

    

 

b.            The
Company shall have delivered to the Buyer the duly executed Note (in such denominations as the Buyer shall request) in accordance with
Section 1(b) above.

 

c.            The
Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall have been delivered to and
acknowledged in writing by the Company’s Transfer Agent.

 

d.            The
representations and warranties of the Company shall be true and correct in all material respects as of the date when made and as of
the Closing Date as though made at such time (except for representations and warranties that speak as of a specific date) and the
Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required
by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. The Buyer shall have
received a certificate or certificates, executed by the chief executive officer of the Company, dated as of the Closing Date, to the
foregoing effect and as to such other matters as may be reasonably requested by the Buyer including, but not limited to certificates
with respect to the Board of Directors’ resolutions relating to the transactions contemplated hereby.

 

e.            No
litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having
authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this
Agreement.

 

f.            No
event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company including but not
limited to a change in the 1934 Act reporting status of the Company or the failure of the Company to be timely in its 1934 Act
reporting obligations.

 

g.            The
Conversion Shares shall have been authorized for quotation on an exchange or electronic quotation system and trading in the Common
Stock on such exchange or electronic quotation system shall not have been suspended by the SEC or an exchange or electronic
quotation system.

 

h.            The
Buyer shall have received an officer’s certificate described in Section 3(d) above, dated as of the Closing Date.

 

    	 	10	 

     

    

 

8.            Governing
Law; Miscellaneous.

 

a.            Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to
principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by
this Agreement shall be brought only in the state courts of New York or in the federal courts located in the state and county of
Nassau. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted
hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The
Company and Buyer waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable
attorney's fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith
is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the
extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such
provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other
provision of any agreement. Each party hereby irrevocably waives personal service of process and consents to process being served in
any suit, action or proceeding in connection with this Agreement, the Note or any related document or agreement by mailing a copy
thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect
for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner
permitted by law.

 

b.             Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to
the other party.

 

c.             Headings.
The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of,
this Agreement.

 

d.             Severability.
In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with
such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any law shall not affect the
validity or enforceability of any other provision hereof.

 

    	 	11	 

     

    

 

e.             Entire
Agreement; Amendments. This Agreement and the instruments referenced herein contain the entire understanding of the parties with
respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor
the Buyer makes any representation, warranty, covenant or undertaking with respect to such matters. No provision of this Agreement
may be waived or amended other than by an instrument in writing signed by the majority in interest of the Buyer.

 

f.            
Notices. All notices, demands, requests, consents, approvals, and other communications required
or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited
in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service
with charges prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other
address as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to
be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated
by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal business
hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business
day during normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing
by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur.
The addresses for such communications shall be as set forth in the heading of this Agreement with a copy by fax only to (which copy shall
not constitute notice) to Naidich Wurman LLP, 111 Great Neck Road, Suite 214, Great Neck, NY 11021, Attn: Allison Naidich, facsimile:
516-466-3555, e-mail: allison@nwlaw.com. Each party shall provide notice to the other party of any change in address.

 

g.            
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other. Notwithstanding the foregoing, the Buyer may assign its rights hereunder to any person that purchases Securities
in a private transaction from the Buyer or to any of its “affiliates,” as that term is defined under the 1934 Act, without
the consent of the Company.

 

h.             Survival.
The representations and warranties of the Company and the agreements and covenants set forth in this Agreement shall survive the
closing hereunder notwithstanding any due diligence investigation conducted by or on behalf of the Buyer. The Company agrees to
indemnify and hold harmless the Buyer and all their officers, directors, employees and agents for loss or damage arising as a result
of or related to any breach or alleged breach by the Company of any of its representations, warranties and covenants set forth in
this Agreement or any of its covenants and obligations under this Agreement, including advancement of expenses as they are
incurred.

 

    	 	12	 

     

    

 

i.             Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in
order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

j.             No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

k.             Remedies.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer by vitiating the
intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach
of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach by the Company
of the provisions of this Agreement, that the Buyer shall be entitled, in addition to all other available remedies at law or in
equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any
breach of this Agreement and to enforce specifically the terms and provisions hereof, without the necessity of showing economic loss
and without any bond or other security being required.

 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT
BLANK]

 

IN WITNESS WHEREOF, the undersigned
Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

	ELECTROMEDICAL TECHNOLOGIES, INC.	 
	 	 
	By:	                    	 
	Matthew Wolfson	 
	Chief Executive Officer	 
	 	 
	REDSTART HOLDINGS CORP.	 
	 	 
	By:	 	 
	Name: Gregg B. Solomon	 
	Title: President	 

 

AGGREGATE SUBSCRIPTION
AMOUNT:

 
	Aggregate
Principal Amount of Note:
	 	$	103,000.00	 
	Aggregate Purchase Price:	 	$	103,000.00	 

 

    	 	13Exhibit 10.44

 

THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR REGISTERED OR QUALIFIED
UNDER ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED,
OR HYPOTHECATED UNLESS QUALIFIED AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF
COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH QUALIFICATION AND REGISTRATION ARE NOT REQUIRED. ANY TRANSFER OF THE SECURITIES
REPRESENTED BY THIS NOTE IS FURTHER SUBJECT TO OTHER RESTRICTIONS, TERMS AND CONDITIONS WHICH ARE SET FORTH HEREIN.

 

	Principal Amount: $107,500	Issue
Date: September 3, 2020

Purchase Price:
$100,000

Original Issue
Discount: $7,500

 

Electromedical
Technologies, Inc.

 

8% CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE RECEIVED, pursuant to the terms
and conditions of this 10% Convertible Promissory Note (this “Note”), Electromedical Technologies, Inc., a Delaware corporation
(the “Company”), hereby promises to pay to the order of JR-HD Enterprises III, LLC, a Delaware limited liability company,
or registered assigns (the “Holder”), on the first anniversary of the Issue Date as set forth above or earlier as required
pursuant to the Agreement, as defined below (as applicable, the “Maturity Date”), the sum of $107,500 (the “Principal
Amount”), and to pay interest on the outstanding Principal Amount at the rate of eight percent (8%) per annum, simple interest,
in each case to the extent that this Note and the Principal Amount and any accrued interest hereunder (the “Indebtedness”)
has not been converted into Conversion Shares (as defined below) prior to the Maturity Date. Interest shall commence accruing on the date
hereof (the “Issue Date”), computed on the basis of a 365-day year and the actual number of days elapsed, and shall be payable
as set forth herein.

 

This Note carries an original issue discount of
$7,500 (the “OID”), to cover the Holder’s accounting fees, due diligence fees, monitoring, and/or other transactional
costs incurred in connection with the purchase and sale of the Note, which is included in the principal balance of this Note. Thus, the
purchase price of this Note shall be $100,000, computed as follows: The Principal Amount minus the OID.

 

This Note is entered into pursuant to a Note Purchase
Agreement by and between the Company and the Holder dated as of the Issue Date (the “Agreement”) and is subject to the terms
and conditions thereof.

 

This Note is not a certificate of deposit or similar
obligation of, and is not guaranteed or insured by, any depository institution, the Federal Deposit Insurance Corporation, the Securities
Holder Protection Corporation or any other governmental or private fund or entity.

 

The following
terms shall apply to this Note:

 

Section 1.          Definitions.
Defined terms used herein without definition have the meanings given them in the Agreement.

 

    	 	1	 

     

    

 

Section 2.          Interest;
Late Fees; Prepayment.

 

(a)            To
the extent not converted to Conversion Shares (as defined below) prior to the Maturity Date, the Principal Amount and accrued and unpaid
interest shall be due and payable in full on the Maturity Date. No payments of the Principal Amount or interest herein shall be required
prior to the Maturity Date.

 

(b)            The
Company may prepay all or any portion of the Principal Amount and any accrued and unpaid interest at any time subject to, and with,
a 20% prepayment cost being added to the amount of the Principal Amount and accrued and unpaid interest so prepaid at such
time.

 

(c)            Interest
on this Note shall accrue on a simple interest, non-compounded basis, and shall be added to the Principal Amount on the Maturity
Date or such earlier date as the Indebtedness may be paid hereunder or may be due hereunder pursuant to the terms herein, at which
time all Indebtedness shall be due and payable, unless earlier converted into Conversion Shares. In the event that any amount due
hereunder is not paid as and when due, such amounts shall accrue interest at the rate of 18% per year, simple interest,
non-compounding, until paid.

 

(d)            Whenever
any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day.

 

Section 3.          Conversion.

 

(a)            Conversion Right.
Subject to the terms and conditions herein, the Holder shall have the right from time to time, and at any time following the six month
anniversary of the Issue Date and ending on the full repayment of all Indebtedness (the “Conversion Period), to convert all or
any part of the Indebtedness into fully paid and non-assessable shares of Common Stock, or any shares of capital stock or other securities
of the Company into which such Common Stock shall hereafter be changed or reclassified (as applicable, the “Conversion Shares”)
at the Conversion Price as defined and as the same may be adjusted pursuant to Section 3(b) (a “Conversion”); provided,
however, that in no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon
conversion of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other
than shares of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Note or the
unexercised or unconverted portion of any other security of the Company subject to a limitation on conversion or exercise analogous to
the limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this
Note with respect to which the determination of this proviso is being made, would result in beneficial ownership by the Holder and its
affiliates of more than 9.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately preceding sentence,
beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso,
provided, further, however, that the limitations on conversion may be waived by the Holder upon, at the election of the Holder, not less
than 61 days’ prior notice to the Company, and the provisions of the conversion limitation shall continue to apply until such 61st
day (or such later date, as determined by the Holder, as may be specified in such notice of waiver). The number of Conversion Shares
to be issued upon each conversion of this Note shall be determined by dividing the Indebtedness by the applicable Conversion Price then
in effect on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the “Notice of Conversion”),
delivered to the Company by the Holder in accordance with the provisions herein.

 

    	 	2	 

     

    

 

 (b)            Conversion Price; Adjustment.

 

		(i)	The conversion price (the “Conversion Price”) shall initially mean $0.50,
provided that such Conversion Price shall be subject to adjustment or revision as set forth herein.

 

		(ii)	The Conversion Price, as the same may have already been adjusted, shall be subject to equitable adjustments
for stock splits, stock dividends or rights offerings by the Company relating to the Company’s securities or the securities of any
subsidiary of the Company, combinations, recapitalization, reclassifications, extraordinary distributions and similar events that occur
on or after the Issue Date. By way of example and not limitation, in the event of forward split of the Common Stock following such applicable
time in which each share of Common Stock is converted into two shares of Common Stock, the Conversion Price shall be reduced by 50%, and
in the event of a reverse split of the Common Stock following such applicable time in which each two shares of Common Stock are converted
into one share of Common Stock, the Conversion Price shall be increased by 100%.

 

(c)            Mechanics of Conversion. Subject
to the provisions of this Section 3, this Note may be converted by the Holder in whole or in part at any time from time to time
during the Conversion Period by (A) submitting to the Company a Notice of Conversion (by facsimile, e-mail or other reasonable
means of communication dispatched prior to 6:00 p.m., New York, New York time) and (B) subject to Section 3(c),
surrendering this Note at the principal office of the Company. The conversion shall be effective as of the date of delivery of the
Notice of Conversion by the time as set forth above (the “Conversion Date”), provided that if the Notice of Conversion
is not delivered by such time then the Conversion Date shall be the next Business Day and the Notice of Conversion shall be deemed
automatically updated accordingly.

 

(d)            Surrender of Note Upon
Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance with the terms
hereof, the Holder shall not be required to physically surrender this Note to the Company unless the entire unpaid amount of
Indebtedness is so converted. The Holder and the Company shall maintain records showing the amount of Indebtedness so converted and
the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Company, so as not to
require physical surrender of this Note upon each such conversion. In the event of any dispute or discrepancy, such records of the
Company shall, prima facie, be controlling and determinative in the absence of manifest error. Notwithstanding the foregoing,
if any portion of this Note is converted as aforesaid, the Holder may not transfer this Note unless the Holder first physically
surrenders this Note to the Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder a new Note
of like tenor, registered as the Holder (upon payment by the Holder of any applicable transfer taxes) may request, representing in
the aggregate the remaining unpaid Indebtedness of this Note. The Holder and any assignee, by acceptance of this Note, acknowledge
and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Note, the unpaid and
unconverted principal amount of this Note represented by this Note may be less than the amount stated on the face hereof.

 

(e)            Payment of Taxes. The Company
shall not be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of
Conversion Shares or other securities or property on conversion of this Note in a name other than that of the Holder (or in street
name), and the Company shall not be required to issue or deliver any such Conversion Shares or other securities or property unless
and until the person or persons (other than the Holder or the custodian in whose street name such shares are to be held for the
Holder’s account) requesting the issuance thereof shall have paid to the Company the amount of any such tax or shall have
established to the satisfaction of the Company that such tax has been paid.

 

    	 	3	 

     

    

 

(f)            Delivery of Common Stock Upon
Conversion. Upon receipt by the Company from the Holder of the Notice of Conversion meeting the requirements for conversion as
provided in this Section 3, the Company shall issue and deliver or cause to be issued and delivered to or upon the order of the
Holder certificates for the Conversion Shares issuable upon such conversion within three (3) Business Days after such receipt
(and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with the
terms hereof and the Agreement. Upon receipt by the Company of a Notice of Conversion, the Holder shall be deemed to be the holder
of record of the Conversion Shares issuable upon such conversion, the outstanding principal amount and the amount of accrued and
unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Company defaults on its obligations under
this Section 3, all rights with respect to the portion of this Note being so converted shall forthwith terminate except the
right to receive the Conversion Shares or other securities, cash or other assets, as herein provided, on such conversion. If the
Holder shall have given a Notice of Conversion as provided herein, the Company’s obligation to issue and deliver the
certificates (subject to the provisions of Section 3(g)) for Conversion Shares shall be absolute and unconditional,
irrespective of the absence of any action by the Holder to enforce the same, any waiver or consent with respect to any provision
thereof, the recovery of any judgment against any person or any action to enforce the same, any failure or delay in the enforcement
of any other obligation of the Company to the holder of record, or any setoff, counterclaim, recoupment, limitation or termination,
or any breach or alleged breach by the Holder of any obligation to the Company, and irrespective of any other circumstance which
might otherwise limit such obligation of the Company to the Holder in connection with such conversion.

 

(g)            Delivery of Common Stock by
Electronic Transfer. In lieu of delivering physical certificates representing the Conversion Shares issuable upon conversion,
provided the Company is participating in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer
(“FAST”) program, upon request of the Holder and its compliance with the provisions contained in this Section 3,
the Company shall use its reasonable efforts to cause its transfer agent to electronically transmit the Conversion Shares issuable
upon conversion to the Holder by crediting the account of Holder’s Prime Broker with DTC through its Deposit Withdrawal Agent
Commission (“DWAC”) system.

 

(h)            Adjustment Due to Merger,
Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to full conversion of this Note, there
shall be any merger, consolidation, or an exchange of shares, recapitalization or reorganization pursuant to a merger or
consolidation, or other similar event, as a result of which shares of Common Stock of the Company shall be changed into the same or
a different number of shares of another class or classes of stock or securities of the Company or another entity, or in case of any
sale or conveyance of all or substantially all of the assets or more than 50% of the total outstanding shares of the Company other
than in connection with a plan of complete liquidation of the Company, then the Holder of this Note shall thereafter have the right
to receive upon conversion of this Note, upon the basis and upon the terms and conditions specified herein and in lieu of the
Conversion Shares immediately theretofore issuable upon conversion, such stock, securities or assets which the Holder would have
been entitled to receive in such transaction had this Note been converted in full immediately prior to such transaction (without
regard to any limitations on conversion set forth herein), and in any such case appropriate provisions shall be made with respect to
the rights and interests of the Holder of this Note to the end that the provisions hereof (including, without limitation, provisions
for adjustment of the Conversion Price and of the number of shares issuable upon conversion of the Note) shall thereafter be
applicable, as nearly as may be practicable in relation to any securities or assets thereafter deliverable upon the conversion
hereof.

 

    	 	4	 

     

    

 

(i)            Status as Shareholder. Subject
to the terms and conditions herein, upon submission of a Notice of Conversion by the Holder, (i) this Note shall be deemed
converted into Conversion Shares and (ii) the Holder’s rights as the holder of this Note shall cease and terminate,
excepting only the right to receive the Conversion Shares as set out herein and to any remedies provided herein or otherwise
available at law or in equity to such Holder because of a failure by the Company to comply with the terms of this Note.

 

Section 4.          Events
of Default.

 

(a)            The
Holder may elect to declare an “Event of Default” if any of the following conditions or events shall occur and be
continuing:

 

		(i)	the Company fails to pay the then-outstanding principal amount and accrued interest on this Note on any
date any such amounts become due and payable, and any such failure is not cured within three Business Days of written notice thereof by
Holder;

 

		(ii)	any representation or warranty of the Company is materially false or untrue when given;

 

		(iii)	the Company fails to comply in any material respect with any other covenant or agreement in this Note
or in the Agreement and any such failure is not cured within three Business Days of written notice thereof by Holder;

 

		(iv)	the Company fails to remain compliant with the Depository Trust Company (“DTC”), thus incurring
a “chilled” status with DTC;

 

		(v)	the Company fails to satisfy its filing or disclosure obligations under Securities Act, the Exchange Act
or the rules and guidelines issued by OTC Markets News Service, OTCMarkets.com and their affiliates;

 

		(vi)	any trading suspension imposed by the United States Securities and Exchange Commission under Section 12(j) of
the Exchange Act or Section 12(k) of the Exchange Act;

 

		(vii)	the occurrence of any delisting of the Common Stock from the Primary Trading Market or suspension of trading
of the Common Stock on the Trading Market;

 

		(viii)	the Company fails remain in good standing under the laws of the State of Delaware;

 

		(ix)	the Company shall (i) apply for or consent to the appointment of, or the taking of possession by,
a receiver, custodian, trustee or liquidator; (ii) make a general assignment for the benefit of the Company’s creditors; or
(iii) commence a voluntary case under the U.S. Bankruptcy Code as now and hereafter in effect, or any successor statute; or

 

		(x)	a proceeding or case shall be commenced, without the application or consent of the Company, in any court
of competent jurisdiction, seeking (1) liquidation, reorganization or other relief with respect to it or its assets or the composition
or readjustment of its debts, or (2) the appointment of a trustee, receiver, custodian, liquidator or the like of any substantial
part of its assets, and, in each case, such proceedings or case shall continue undismissed, or an order, judgment or decree approving
or ordering any of the foregoing shall be entered and continue unstayed and in effect, for a period of 60 days, if in the United States,
or 90 days, if outside of the United States; or an order for relief against the Company shall be entered in an involuntary case under
any bankruptcy, insolvency, composition, readjustment of debt, liquidation of assets or similar Law of any jurisdiction.

 

    	 	5	 

     

    

 

(b)            Consequences
of Events of Default. If an Event of Default has occurred and is continuing (i) the Holder may, by notice to the Company,
declare all or any portion of the then outstanding principal amount of the Note, together with all accrued and unpaid interest
thereon, due and payable, and the Note shall thereupon become, immediately due and payable in cash and (ii) the Holder shall
have the right to pursue any other remedies that the Holder may have under applicable Law.

 

Section 5.          Miscellaneous.

 

(a)            Notices.
Any and all notices or other communications or deliveries to be provided hereunder shall be given in accordance with the provisions
of the Agreement.

 

(b)            Lost
or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in
exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost, stolen or
destroyed Note, a new Note so mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or
destruction of this Note, and of the ownership hereof reasonably satisfactory to the Company.

 

(c)            Governing
Law. This Note, and all matters based upon, arising out of or relating in any way to this Note, including all disputes, claims
or causes of action arising out of or relating to this Note as well as the interpretation, construction, performance and enforcement
of this Note, shall be governed by the laws of the United States and the State of Delaware, without regard to any
jurisdiction’s conflict-of-laws principles.

 

(d)            Incorporation
of Provisions. The provisions of Article VI of the Agreement (Miscellaneous) of the Agreement shall apply to this Note as though
fully set forth herein, provided that each reference therein to the “Agreement” shall be deemed a reference to this Note.
In the event of any conflict between the terms of the Agreement and the terms of this Note, the terms of this Note shall control.

 

(e)            Next
Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.

 

(f)             Entire
Agreement. This Note (including any recitals hereto) and the Agreement set forth the entire understanding of the parties with
respect to the subject matter hereof, and shall not be modified or affected by any offer, proposal, statement or representation,
oral or written, made by or for any party in connection with the negotiation of the terms hereof, and may be modified only by
instruments signed by the Company and the Holder.

 

    	 	6	 

     

    

 

(g)            No
Assignment by the Company. This Note may not be assigned by the Company to any Person without the prior written consent of the
Holder in its sole discretion.

 

(h)            Currency.
All dollar amounts are in U.S. dollars.

 

[SIGNATURE PAGE FOLLOWS]

 

IN WITNESS WHEREOF, the undersigned has executed
this Note as of the Issue Date.

 

	 	Electromedical Technologies, Inc.
	 	 
	 	By:	/s/ Matthew Wolfson
	 	Name:	Matthew Wolfson
	 	Title:	Chief Executive Officer

 

	Agreed and accepted:	 
	 	 
	JR-HD Enterprises III, LLC	 
	 	 
	By:	/s/ Jeff Ramson	 
	Name:	Jeff Ramson	 
	Title:	Manager	 

 

    	 	7	 

     

    

 

EXHIBIT A

NOTICE OF CONVERSION

 

The undersigned hereby elects to convert the portion
of the Indebtedness (as defined in the Note, as defined below) as set forth below pursuant to the convertible promissory note (the “Note”)
of Electromedical Technologies, Inc., a Delaware corporation (together with any successor entity thereto, the “Company”)
into that number of shares of Common Stock (as defined in the Note) to be issued pursuant to the conversion of the Note and according
to the conditions of the Note, as of the date written below.

 

The undersigned hereby requests that the Company
issue a certificate or certificates, or other permissible evidence of shares of Common Stock as set forth in the Note, for the number
of shares of Common Stock set forth below (which numbers are based on the Holder’s calculation below and which shall be confirmed
by, and subject to acceptance by, the Company) in the name(s) specified immediately below or, if additional space is necessary, on
an attachment hereto:

 

	Name:	JR-HD Enterprises III,
    LLC
	 	 
	Address:	 
	 	 
	 	 
	 	 
	 	 
	Date of Conversion:	 
	 	 
	Amount of Indebtedness to be
    converted:	$	          
	 	 
	Applicable Conversion Price:	$	 
	 	 
	Number of shares of Common
    Stock to be Issued:	 
	 	shares of Common Stock

 

	 	JR-HD Enterprises III, LLC
	 	 
	 	By:	 
	 	Name:	Jeff Ramson
	 	Title:	Manager

 

    	 	1

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