Document:

Exhibit 10.47

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (the “Agreement”), dated as of September 8, 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 $78,000.00 (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 September 10, 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.

 

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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.

 

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		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 22,165,381 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.

 

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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.

 

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g.           Absence
of Certain Changes. Since June 30, 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.

 

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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.

 

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.

 

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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.

 

h.          The
Buyer is Not a “Dealer”. The Buyer and the Company hereby acknowledge and agree that the Buyer has not:
(i) acted as an underwriter; (ii) acted as a market maker or specialist; (iii) acted as “de facto” market
maker; or (iv) conducted any other professional market activities such as providing investment advice, extending credit and
lending securities in connection; and thus that the Buyer is not a “Dealer” as such term is defined in 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.

 

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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.

 

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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.

 

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

 

		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.

 

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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.

 

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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.

 

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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	 

 

    13 

     

    

 

AGGREGATE SUBSCRIPTION
AMOUNT:

 

	Aggregate Principal Amount of Note:	 	$	78,000.00	 
	Aggregate Purchase Price:	 	$	78,000.00	 

 

    14Exhibit 10.48

 

 

NEITHER
THIS NOTE NOR THE SECURITIES THAT MAY BE ISSUED BY THE COMPANY UPON CONVERSION HEREOF (COLLECTIVELY, THE
 “SECURITIES”) HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THE SECURITIES NOR ANY INTEREST OR PARTICIPATION THEREIN MAY BE
OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED: (I) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE 1933 ACT, OR APPLICABLE STATE SECURITIES LAWS; OR (II) IN THE ABSENCE OF AN OPINION OF COUNSEL, IN A
FORM ACCEPTABLE TO THE ISSUER, THAT REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT OR; (III) UNLESS SOLD, TRANSFERRED OR
ASSIGNED PURSUANT TO RULE 144 UNDER THE 1933 ACT.

 

10% CONVERTIBLE PROMISSORY NOTE

 

MATURITY DATE OF SEPTEMBER 28, 2021 *THE “MATURITY
DATE”

 

$108,000 SEPTEMBER 28, 2020 *THE “ISSUANCE
DATE”

 

FOR VALUE RECEIVED, Electromedical
Technologies, Inc., a Delaware Corporation (the “Company”) doing business in Scottsdale, Arizona,, hereby promises
to pay to the order of JSJ Investments Inc., an accredited investor and Texas Corporation, or its assigns (the
 “Holder”), the principal amount of One Hundred and Eight Thousands Dollars ($108,000) (“Note”), on demand of
the Holder at any time on or after September 28, 2021 (the “Maturity Date”), and to pay interest on the unpaid
principal balance hereof at the rate of Ten Percent (10%) per annum (the “Interest Rate”) commencing on the date hereof
(the “Issuance Date”).

 

The Principal Amount is One Hundred and Eight
Thousand Dollars ($108,000) and the consideration paid by the Holder is One Hundred and Three Thousand Dollars ($103,000) (the “Consideration”);
there exists an original issue discount of $5,000 (the “OID”)).

 

		1.	Payments of Principal and Interest.

 

		a.	Pre-Payment and Payment of Principal and Interest. The Company may pay this Note in full, together with
any and all accrued and unpaid interest, plus any applicable pre-payment premium set forth herein and subject to the terms of this Section 1.a,
at any time on or prior to the date which occurs 180 days after the Issuance Date hereof (the “Prepayment Date”). In the event
the Note is not prepaid in full on or before the Prepayment Date, it shall be deemed a “Pre-Payment Default” hereunder. Until
the Ninetieth (90th) day after the Issuance Date the Company may pay the principal at a cash redemption premium of 125%, in addition to
outstanding interest, without the Holder’s consent; from the 91st day to the One Hundred and Twentieth (120th) day after the Issuance
Date, the Company may pay the principal at a cash redemption premium of 130%, in addition to outstanding interest,
without the Holder’s consent; from the 121st day to the Prepayment Date, the Company may pay the principal at a cash redemption
premium of 140%, in addition to outstanding interest, without the Holder’s consent. After the Prepayment Date up to the Maturity
Date this Note shall have a cash redemption premium of 150% of the then outstanding principal amount of the Note, plus accrued interest
and Default Interest, if any, which may only be paid by the Company upon Holder’s prior written consent. At any time on or after
the Maturity Date, the Company may repay the then outstanding principal plus accrued interest and Default Interest (defined below), if
any, to the Holder.

 

		b.	Demand of Repayment. The principal and interest balance of this Note shall be paid to the Holder hereof
on demand by the Holder at any time on or after the Maturity Date. The Default Amount (defined herein), if applicable, shall be paid to
Holder hereof on demand by the Holder at any time such Default Amount becomes due and payable to Holder. The Holder may, by written notice
to the Company at least five (5) days before the Maturity Date (as may have been previously extended), extend the Maturity Date to
up to one (1) year following the date of the original Maturity Date hereunder.

 

		c.	Interest. This Note shall bear interest (“Interest”) at the rate of Ten Percent (10%) per
annum from the Issuance Date until the same is paid, or otherwise converted in accordance with Section 2 below, in full and the Holder,
at the Holder’s sole discretion, may include any accrued but unpaid Interest in the Conversion Amount. Interest shall commence accruing
on the Issuance Date, shall be computed on the basis of a 365day year and the actual number of days elapsed and shall accrue daily and,
after the Maturity Date, compound quarterly. Upon an Event of Default, as defined in Section 10 below, the Interest Rate shall increase
to Eighteen Percent (18%) per annum for so long as the Event of Default is continuing (“Default Interest”).

 

		d.	General Payment Provisions. This Note shall be paid in lawful money of the United States of America
                                                                by check or wire transfer to such account as the Holder may from time to time designate by written notice to the Company in
                                                                accordance with the provisions of this Note. Whenever any amount expressed to be due by the terms of this Note is due on any day
                                                                which is not a Business Day (as defined below), the same shall instead be due on the next succeeding day which is a Business Day
                                                                and, in the case of any interest payment date which is not the date on which this Note is paid in full, the extension of the due
                                                                date thereof shall not be taken into account for purposes of determining
the amount of interest due on such date. For purposes of this Note, “Business Day” shall mean any day other than a Saturday,
Sunday or a day on which commercial banks in the State of Texas are authorized or required by law or executive order to remain closed.

 

    1 

     

    

 

 

		2.	Conversion of Note. At any time after the Pre-payment Date, the Conversion Amount (see Paragraph 2(a)(i))
of this Note shall be convertible into shares of the Company’s common stock (the “Common Stock”) according to the terms
and conditions set forth in this Paragraph 2.

 

		a.	Certain Defined Terms. For purposes
of this Note, the following terms shall have the following meanings:

 

		i.	“Conversion Amount” means the sum of (a) the principal amount of this Note to be converted
with respect to which this determination is being made, (b) Interest; and (c) Default Interest, if any, if so included at the
Holder’s sole discretion.

 

		ii.	“Conversion Price” means a 37% discount to the lowest trading price during the previous twenty
(20) trading days to the date of a Conversion Notice; (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).

 

		iii.	“Person” means an individual, a limited liability company, a partnership, a joint venture,
a corporation, a trust, an unincorporated organization and a government or any department or agency thereof.

 

		iv.	“Shares” means the Shares of the Common Stock of the Company into which any balance on this
Note may be converted upon submission of a “Conversion Notice” to the Company substantially in the form attached hereto as
Exhibit 1.

 

		b.	Holder’s Conversion Rights. At any time after the Pre-payment Date, the Holder shall be entitled
to convert all of the outstanding and unpaid principal and accrued interest of this Note into fully paid and non-assessable shares of
Common Stock in accordance with the stated Conversion Price. The Holder shall not be entitled to convert on a Conversion Date that amount
of the Note in connection with that number of shares of Common Stock which would be in excess of the sum of the number of shares of Common
Stock issuable upon the conversion of the Note with respect to which the determination of this provision is being made on a Conversion
Date, which would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common
Stock of the Company on such Conversion Date. For the purposes of the provision 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, and Regulation 13d-3
thereunder. Subject to the foregoing, the Holder shall not be limited to aggregate conversions of 4.99% (“Conversion Limitation
1”). The Holder shall have the authority to determine whether the restriction contained in this Section 2(b) will
limit any conversion hereunder, and accordingly, the Holder may waive the conversion limitation described in this Section 2(b),
in whole or in part, upon and effective after 61 days prior written notice to the Company to increase or decrease such percentage to any
other amount as determined by Holder in its sole discretion (“Conversion Limitation 2”). If in the case that the Company’s
Common Stock is “chilled” for deposit into the DTC system and only eligible for clearing deposit, then an additional 15% discount
to the Conversion Price shall apply for all future conversions under the Note while the “chill” is in effect. For the avoidance
of doubt, with reference to section 2(a)ii of this note, when the “chill” is in effect the conversion price will increase
from a 35% discount to a 50% discount to the lowest trading price during the previous (20) days to the date of a Conversion Notice. To
the extent the Conversion Price of the Company’s Common Stock closes below the par value per share, the Company will take all steps
necessary to solicit the consent of the stockholders to reduce the par value to the lowest value possible under law. The Company agrees
to honor all conversions submitted pending this adjustment unless the Holder, in its sole and absolute discretion elects instead to set
the Conversion Price to par value for such conversion(s) and the conversion amount for such conversion(s) shall be increased
to include Additional Principal, where “Additional Principal” means such additional amount to be added to the conversion amount
to the extent necessary to cause the number of Common Stock issuable upon such conversion(s) to equal the same number of Common Stock
as would have been issued had the Conversion Price not been set to par value in the Holder’s sole and absolute discretion.

 

		c.	Fractional Shares. The Company shall not issue any fraction of a share of Common Stock upon any conversion;
if such issuance would result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share
of Common Stock up to the nearest whole share except in the event that rounding up would violate the conversion limitation set forth in
section 2(b) above.

 

		d.	Conversion Amount. The Conversion Amount shall be converted pursuant to Rule 144(b)(1)(ii) and
Rule 144(d)(1)(ii) as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended, into
unrestricted shares at the Conversion Price.

 

		e.	Mechanics of Conversion. The conversion of this Note shall be conducted in the following manner:

 

		i.	Holder’s Conversion Requirements. To convert this Note into shares of Common Stock on any date set
forth in the Conversion Notice by the Holder (the “Conversion Date”), the Holder shall transmit by email, facsimile or otherwise
deliver, for receipt on or prior to 11:59 p.m., Eastern Time, on such date or on the next business day, a copy of a fully executed notice
of conversion in the form attached hereto as Exhibit 1 to the Company.

 

		ii.	Company’s Response. Upon receipt by the Company of a copy of a Conversion Notice, the Company shall
as soon as practicable, but in no event later than one (1) Business Day after receipt of such Conversion Notice, send, via email,
facsimile or overnight courier, a confirmation of receipt of such Conversion Notice to such Holder indicating that the Company will process
such Conversion Notice in accordance with the terms herein. Within two (2) Business Days after the date the Conversion Notice is
delivered, the Company shall have issued and electronically transferred the shares to the Broker indicated in the Conversion Notice; should
the Company be unable to transfer the shares electronically, it shall, within two (2) Business Days after the date the Conversion
Notice was delivered, have surrendered to an overnight courier for delivery the next day to the address as specified in the Conversion
Notice, a certificate, registered in the name of the Holder, for the number of shares of Common Stock to which the Holder shall be entitled.

 

    2 

     

    

 

 

		iii.	Record Holder. The person or persons entitled to receive the shares of Common Stock issuable upon a conversion
of this Note shall be treated for all purposes as the record holder or holders of such shares of Common Stock on the Conversion Date.

 

		iv.	Timely Response by Company. Upon receipt by Company of a Conversion Notice, Company shall respond within
one business day to Holder confirming the details of the Conversion, and provide within two business days the Shares requested in the
Conversion Notice.

 

		v.	Liquidated Damages for Delinquent Response. If the Company fails to deliver for whatever reason (including
any neglect or failure by, e.g., the Company, its counsel or the transfer agent) to Holder the Shares as requested in a Conversion
Notice within three (3) business days of the Conversion Date, the Company shall be deemed in “Default of Conversion.”
Beginning on the fourth (4th) business day after the date of the Conversion Notice, after the Company is deemed in Default
of Conversion, there shall accrue liquidated damages (the “Conversion Damages”) of $2,000 per day for each day after the third
business day until delivery of the Shares is made, and such penalty will be added to the Note being converted (under the Company’s
and Holder’s expectation and understanding that any penalty amounts will tack back to the Issuance Date of the Note). The Parties
agree that, at the time of drafting of this Note, the Holder’s damages as to the delinquent response are incapable or difficult
to estimate and that the liquidated damages called for is a reasonable forecast of just compensation.

 

		vi.	Liquidated Damages for Inability to Issue Shares. If the Company fails to deliver Shares requested by
a Conversion Notice due to an exhaustion of authorized and issuable common stock such that the Company must increase the number of shares
of authorized Common Stock before the Shares requested may be issued to the Holder, the discount set forth in the Conversion Price will
be increased by 5 percentage points (i.e. from 37% to 42%) for the Conversion Notice in question and all future Conversion Notices until
the outstanding principal and interest of the Note is converted or paid in full. These liquidated damages shall not render the penalties
prescribed by Paragraph 2(e)(v) void, and shall be applied in conjunction with Paragraph 2(e)(v) unless otherwise agreed to
in writing by the Holder. The Parties agree that, at the time of drafting of this Note, the Holder’s damages as to the inability
to issue shares are incapable or difficult to estimate and that the liquidated damages called for is a reasonable forecast of just compensation.

 

		vii.	Rescindment of Conversion Notice. If: (i) the Company fails to respond to Holder within one business
day from the date of delivery of a Conversion Notice confirming the details of the Conversion, (ii) the Company fails to provide
the Shares requested in the Conversion Notice within three business days from the date of the delivery of the Conversion Notice, (iii) the
Holder is unable to procure a legal opinion required to have the Shares issued unrestricted and/or deposited to sell for any reason related
to the Company's standing with the SEC or FINRA, or any action or inaction by the Company, (iv) the Holder is unable to deposit the
Shares requested in the Conversion Notice for any reason related to the Company's standing with the SEC or FINRA, or any action or inaction
by the Company, (v) if the Holder is informed that the Company does not have the authorized and issuable Shares available to satisfy
the Conversion, or (vi) if OTC Markets changes the Company's designation to 'Limited Information' (Yield), 'No Information' (Stop
Sign), 'Caveat Emptor' (Skull and Crossbones), or 'OTC', 'Other OTC' or 'Grey Market' (Exclamation Mark Sign) on the day of or any day
after the date of the Conversion Notice, the Holder maintains the option and sole discretion to rescind the Conversion Notice ("Rescindment")
by delivering a notice of rescindment to the Company in the same manner that a Conversion Notice is required to be delivered to the Company
pursuant to the terms of this Note.

 

		viii.	Transfer Agent Fees and Legal Fees. The issuance of the certificates shall be without charge or expense
to the Holder. The Company shall pay any and all Transfer Agent fees, legal fees, and advisory fees required for execution of this Note
and processing of any Notice of Conversion, including but not limited to the cost of obtaining a legal opinion with regard to the Conversion.
The Holder will deduct $3,000 from the principal payment of the Note solely to cover the cost of obtaining any and all legal opinions
required to obtain the Shares requested in any given Conversion Notice. These fees do not make provision for or suffice to defray any
legal fees incurred in collection or enforcement of the Note as described in Paragraph 13. All expenses incurred by Holder, for the issuance
and clearing of the Common Stock into which this Note is convertible into, shall immediately and automatically be added to the balance
of the Note at such time as the expenses are incurred by Holder.

 

		ix.	Conversion Right Unconditional. If the Holder shall provide a Notice of Conversion as provided herein,
the Company’s obligations to deliver Common Stock shall be absolute and unconditional, irrespective of any claim of setoff, counterclaim,
recoupment, or alleged breach by the Holder of any obligation to the Company.

 

    3 

     

    

 

 

		3.	Other Rights of Holder: Reorganization, Reclassification, Consolidation, Merger or Sale. Any recapitalization,
reorganization, reclassification, consolidation, merger, sale of all or substantially all of the Company’s assets to another Person
or other transaction which is effected in such a way that holders of Common Stock are entitled to receive (either directly or upon subsequent
liquidation) stock, securities, cash or other assets with respect to or in exchange for Common Stock is referred to herein as “Organic
Change.” Prior to the consummation of any (i) Organic Change or (ii) other Organic Change following which the Company
is not a surviving entity, the Company will secure from the Person purchasing such assets or the
successor resulting from such Organic Change (in each case, the “Acquiring Entity”) a written agreement (in form and substance
reasonably satisfactory to the Holder) to deliver to Holder in exchange for this Note, a security of the Acquiring Entity evidenced by
a written instrument substantially similar in form and substance to this Note, and reasonably satisfactory to the Holder. Prior to the
consummation of any other Organic Change, the Company shall make appropriate provision (in form and substance reasonably satisfactory
to the Holder) to ensure that the Holder will thereafter have the right to acquire and receive in lieu of or in addition to (as the case
may be) the shares of Common Stock immediately theretofore acquirable and receivable upon the conversion of the Note, such shares of stock,
securities, cash or other assets that would have been issued or payable in such Organic Change with respect to or in exchange for the
number of shares of Common Stock which would have been acquirable and receivable upon the conversion of the Note as of the date of such
Organic Change (without taking into account any limitations or restrictions on the convertibility of the Note set forth in Section 2(b) or
otherwise). All provisions of this Note must be included to the satisfaction of Holder in any new Note created pursuant to this section.

 

		a.	Adjustment Due to Distribution. If the Company shall declare
or make any distribution of its assets (or rights to acquire its assets) to holders of Common Stock as a dividend, stock repurchase,
by way of return of capital or otherwise (including any dividend or distribution to the Company’s shareholders in cash or shares
(or rights to acquire shares) of capital stock of a subsidiary (i.e., a spin-off)) (a “Distribution”), then the Holder of
this Note shall be entitled, upon any conversion of this Note after the date of record for determining shareholders entitled to such
Distribution, to receive the amount of such assets which would have been payable to the Holder with respect to the shares of Common Stock
issuable upon such conversion had such Holder been the holder of such shares of Common Stock on the record date for the determination
of shareholders entitled to such Distribution.

 

		4.	Representations and Warranties of the Company. In connection with the transactions provided for herein,
the Company hereby represents and warrants to the Holder the following:

 

		a.	Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing
and in good standing under the laws of the state of its incorporation and has all requisite corporate power and authority to carry on
its business as now conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which
the failure to so qualify would have a material adverse effect on its business or properties.

 

		b.	Authorization. All corporate action has been taken on the part of the Company, its officers, directors
and stockholders necessary for the authorization, execution and delivery of this Agreement. The Company has taken all corporate action
required to make all of the obligations of the Company reflected in the provisions of this Agreement, valid and enforceable obligations.
The shares of capital stock issuable upon conversion of the Note have been authorized or will be authorized prior to the issuance of such
shares.

 

		c.	Fiduciary Obligations. The Company hereby represents that it intends to use the proceeds of the Note primarily
for the operations of its business and not for any personal, family, or household purpose. The Company hereby represents that its board
of directors, in the exercise of its fiduciary duty, has approved the execution of this Agreement based upon a reasonable belief that
the proceeds of the Note provided for herein is appropriate for the Company after reasonable inquiry concerning its financial objectives
and financial situation.

 

		5.	Covenants of the Company.

 

		a.	So long as the Company shall have any obligations under this Note, the Company shall not without the Holder’s
prior written consent pay, declare or set apart for such payment any dividend or other distribution (whether in cash, property, or other
securities) on shares of capital stock solely in the form of additional shares of Common Stock

 

		b.	So long as the Company shall have any obligations under this Note, the Company shall not without the Holder’s
prior written consent sell, lease, or otherwise dispose of a significant portion of its assets outside the ordinary course of business.
Any consent to the disposition of any assets may be conditioned upon a specified use of the proceeds thereof.

 

		6.	Reservation of Shares. The Company shall at all times, so long as any principal amount of the Note is
outstanding, reserve and keep available out of its authorized and unissued shares of Common Stock, solely for the purpose of effecting
the conversion of the Note, eight times the number of shares of Common Stock as shall at all times be sufficient to effect the conversion
of all of the principal amount, plus Interest and Default Interest, if any, of the Note then outstanding (“Share Reserve”),
unless the Holder stipulates otherwise in the “Irrevocable Letter of Instructions to the Transfer Agent.” So long as this
Note is outstanding, upon written request of the Holder or via telephonic communication, the Company’s Transfer Agent shall furnish
to the Holder the then-current number of common shares issued and outstanding, the then-current number of common shares authorized, the
then-current number of unrestricted shares, and the then-current number of shares reserved for third parties.

 

		7.	Voting Rights. The Holder of this Note shall have no voting rights as a note holder, except as required
by law, however, upon the conversion of any portion of this Note into Common Stock, Holder shall have the same voting rights as all other
Common Stock holders with respect to such shares of Common Stock then owned by Holder.

 

		8.	Reissuance of Note. In the event of a conversion or redemption pursuant to this Note of less than all
of the Conversion Amount represented by this Note, the Company shall promptly cause to be issued and delivered to the Holder, upon tender
by the Holder of the Note converted or redeemed, a new note of like tenor representing the remaining principal amount of this Note which
has not been so converted or redeemed and which is in substantially the same form as this Note, as set forth above.

 

    4 

     

    

 

 

		9.	Default and Remedies.

 

		a.	Event of Default. For purposes
of this Note, an “Event of Default” shall occur upon:

 

		i.	the Company’s default in the payment of the outstanding principal, Interest or Default Interest
of this Note when due, whether at Maturity, acceleration or otherwise;

		ii.	the occurrence of a Default of Conversion as set forth in Section 2(e)(v);

		iii.	the failure by the Company for ten (10) days after notice to it to comply with any material provision
of this Note not included in this Section 10(a);

		iv.	the Company’s breach of any covenants, warranties, or representations made by the Company herein;

		v.	any of the information in the DDF is false or misleading in any material respect;

		vi.	the default by the Company in any Other Agreement entered into by and between the Company and Holder,
for purposes hereof “Other Agreement” shall mean, collectively, all agreements and instruments between, among or by: (1) the
Company, and, or for the benefit of, (2) the Holder and any affiliate of the Holder, including
without limitation, promissory notes;

		vii.	the cessation of operations of the Company or a material subsidiary;

		viii.	the Company pursuant to or within the meaning of any Bankruptcy Law; (a) commences a voluntary case;
(b) consents to the entry of an order for relief against it in an involuntary case; (c) consents to the appointment of a Custodian
of it or for all or substantially all of its property; (d) makes a general assignment for the benefit of its creditors; or (e) admits
in writing that it is generally unable to pay its debts as the same become due;

		ix.	court of competent jurisdiction entering an order or decree under any Bankruptcy Law that: (a) is
for relief against the Company in an involuntary case; (b) appoints a Custodian of the Company or for all or substantially all of
its property; or (c) orders the liquidation of the Company or any subsidiary, and the order or decree remains unstayed and in effect
for thirty (30) days;

		x.	the Company files a Form 15 with the SEC;

		xi.	the Company’s failure to timely file all reports required to be filed by it with the Securities
and Exchange
Commission; 

	 	xii.	the Company’s failure to timely file all reports
    required to be filed by it with OTC Markets to remain a “Current
Information” designated company; xiii. the Company’s Common Stock is reported as “No Inside” by OTC Markets at
any time while any principal, Interest or Default Interest under the Note remains outstanding;

		xiv.	the Company’s failure to
maintain the required Share Reserve pursuant to the terms of the Irrevocable Letter of Instructions
to the Transfer Agent; xv. the Company directs its transfer agent not to transfer, or delays, impairs, or hinders its transfer agent in
transferring or issuing (electronically or in certificated form) any certificate for Shares of Common Stock to be issued to the Holder
upon conversion of or otherwise pursuant to this Note as and when required by this Note, or fails 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 and stop transfer
instructions) on any certificate for any Shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this
Note as and when required by this Note (or makes any written announcement, statement or threat that it does not intend to honor its obligations
pursuant to a Conversion Notice submitted by the Holder) and any such failure shall continue uncured for three (3) Business Days
after the Conversion Notice has been delivered to the Company by Holder;

		xvi.	the Company’s failure to remain current in its billing
obligations with its transfer agent and such delinquency causes the transfer agent to refuse to issue Shares to Holder pursuant to a
Conversion Notice;

		xvii.	the Company effectuates a reverse
split of its Common Stock and fails to provide twenty (20) days prior written notice to Holder of its intention to do so; or

		xviii.	OTC Markets changes the Company's designation to 'No Information' (Stop Sign), 'Caveat Emptor' (Skull
and Crossbones), or 'OTC', 'Other OTC' or 'Grey Market' (Exclamation Mark Sign).

		xix.	"Change of Control Transaction" means the occurrence after
the date hereof of any of (a) an acquisition after the date hereof by an individual or legal entity or "group" (as described
in Rule 13d5(b)(1) promulgated under the Securities Exchange Act of 1934) of effective control (whether through legal or beneficial
ownership of capital stock of the Company, by contract or otherwise) of in excess of 40% of the voting securities of the Company, (b) the
Company merges into or consolidates with any other Person, as that term is defined in the Securities Act of 1933, as amended, or any Person
merges into or consolidates with the Company and, after giving effect to such transaction, the stockholders of the Company immediately
prior to such transaction own less than 60% of the aggregate voting power of the Company or the successor entity of such transaction,
(c) the Company sells or transfers all or substantially all of its assets to another Person and the stockholders of the Company immediately
prior to such transaction own less than 60% of the aggregate voting power of the acquiring entity immediately after the transaction, (d) a
replacement at one time or within a three year period of more than one-half of the members of the Board of Directors which is not approved
by a majority of those individuals who are members of the Board of Directors on the Issuance Date (or by those individuals who are serving
as members of the Board of Directors on any date whose nomination to the Board of Directors was approved by a majority of the members
of the Board of Directors who are members on the date hereof), or (e) the execution by the Company of an agreement to which the Company
is a party or by which it is bound.

		xx.	Altering the conversion terms of any notes that are currently outstanding.

 

    5 

     

    

 

 

		xxi.	Notwithstanding anything to the contrary
                                            contained in this Note or the other related or companion documents, a breach or default by
                                            the Company of any covenant or other term or condition contained in any of other agreement
                                            entered into by the Company, after the passage of all applicable notice and cure or grace
                                            periods therein.
	 	 	 
	 	 	The Term “Bankruptcy Law”
means Title 11, U.S. Code, or any similar Federal or State Law for the relief of debtors. The term “Custodian” means any receiver,
trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

		b.	Remedies. If an Event of Default occurs, the Holder may in its sole discretion determine to request immediate
repayment of all or any portion of the Note that remains outstanding; at such time the Company will be required to pay the Holder the
Default Amount (defined herein) in cash. For purposes hereof, the “Default Amount” shall mean: the product of (A) the
then outstanding principal amount of the Note, plus accrued Interest and Default Interest, divided by (B) the Conversion Price as
determined on the Issuance Date, multiplied by (C) the highest price at which the Common Stock traded at any time between the Issuance
Date and the date of the Event of Default. If the Company fails to pay the Default Amount within five (5) Business Days of written
notice that such amount is due and payable, then Holder shall have the right at any time, so long as the Company remains in default (and
so long and to the extent there are a sufficient number of authorized but unissued shares), to require the Company, upon written notice,
to immediately issue, in lieu of the Default Amount, the number of shares of Common Stock of the Company equal to the Default Amount divided
by the Conversion Price then in effect.

 

		c.	If at any time after the Issuance Date, the Company is not DWAC Eligible, then an additional 5% discount
shall be factored into the Conversion Price. If at any time after the Issuance Date, the Common Stock is not DTC Eligible, then an additional
5% discount shall be factored into the Conversion Price. In addition, if any Event of Default occurs after the Issuance Date, then an
additional 5% discount shall be factored into the Conversion Price for each of the first three (3) Events of Default that occur after
the Issuance Date (for the avoidance of doubt, each occurrence of any Event of Default shall be deemed to be a separate occurrence for
purposes of the foregoing reductions, even if the same Event of Default occurs three (3) separate times). For example, if there are
three (3) separate occurrences of an Event of Default, then an additional 5% discount shall be factored into the Conversion Price
for the first such occurrence, and so on for each of the second and third occurrences of such Event of Default.

 

		10.	Vote to Change the Terms of this Note. This Note and any provision hereof may only be amended by an instrument
in writing signed by the Company and the Holder.

 

		11.	Lost or Stolen Note. Upon receipt by the Company of evidence satisfactory to the Company of the loss,
theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of an indemnification undertaking by the
Holder to the Company in a form reasonably acceptable to the Company and, in the case of mutilation, upon surrender and cancellation of
the Note, the Company shall execute and deliver a new Note of like tenor and date and in substantially the same form as this Note; provided,
however, the Company shall not be obligated to re-issue a Note if the Holder contemporaneously requests the Company to convert such remaining
principal amount, plus accrued Interest and Default Interest, if any, into Common Stock.

 

		12.	Payment of Collection, Enforcement and Other Costs. If: (i) this Note is placed in the hands of an
attorney for collection or enforcement or is collected or enforced through any legal proceeding; or (ii) an attorney is retained
to represent the Holder of this Note in any bankruptcy, reorganization, receivership or other proceedings affecting creditors’ rights
and involving a claim under this Note, then the Company shall pay to the Holder all reasonable attorneys’ fees, costs and expenses
incurred in connection therewith, in addition to all other amounts due hereunder.

 

		13.	Cancellation. After all principal, accrued Interest and Default Interest, if any, at any time owed on
this Note has been paid in full or otherwise converted in full, this Note shall automatically be deemed canceled, shall be surrendered
to the Company for cancellation and shall not be reissued.

 

		14.	Waiver of Notice. To the extent permitted by law, the Company hereby waives demand, notice, protest and
all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note.

 

		15.	Governing Law. This Note shall be construed and enforced in accordance with, and all questions concerning
the construction, validity, interpretation and performance of this Note shall be governed by, the laws of the State of Texas, without
giving effect to provisions thereof regarding conflict of laws. Each party hereby irrevocably submits to the nonexclusive jurisdiction
of the state and federal courts sitting in Texas for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any
claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process
and consents to process being served in any such suit, action or proceeding by sending, through certified mail or overnight courier, a
copy thereof to such party at the address for such 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 manner permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A
JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREBY.

 

		16.	Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided
in this Note shall be cumulative and in addition to all other remedies available under this Note, at law or in equity (including a decree
of specific performance and/or other injunctive relief), and no remedy contained herein shall be deemed a waiver of compliance with the
provisions giving rise to such remedy and nothing herein shall limit the Holder’s right to pursue actual damages for any failure
by the Company to comply with the terms of this Note. The Company covenants to the Holder that there shall be no characterization concerning
this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, conversion
and the like (and the computation thereof) shall be the amounts to be received by the Holder thereof and shall not, except as expressly
provided herein, be subject to any other obligation of the Company (or the performance thereof).

 

    6 

     

    

 

 

		17.	Specific Shall Not Limit General; Construction. No specific provision contained in this Note shall limit
or modify any more general provision contained herein. This Note shall be deemed to be jointly drafted by the Company and the Holder and
shall not be construed against any person as the drafter hereof.

 

		18.	Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any
power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right
or privilege preclude further exercise thereof or of any other right, power or privilege.

 

		19.	Partial Payment. In the event of partial payment by the Holder, the principal sum due to the Holder shall
be prorated based on the consideration actually paid by the Holder such that the Company is only required to repay the amount funded and
the Company is not required to repay any unfunded portion of this Note, with the exception of any OID contemplated herein.

 

		20.	Entire Agreement. This Agreement constitutes the full and entire understanding and agreement between the
parties with regard to the subjects herein. None of the terms of this Agreement can be waived or modified, except by an express agreement
signed by all Parties hereto.

 

		21.	Additional Representations and Warranties. The Company expressly acknowledges that the Holder, including
but not limited to its officer, directors, employees, agents, and affiliates, have not made any representation or warranty to it outside
the terms of this Agreement. The Company further acknowledges that there have been no representations or warranties about future financing
or subsequent transactions between the parties.

 

		22.	Notices. All notices and other communications given or made to the Company pursuant hereto shall be in
writing (including facsimile or similar electronic transmissions) and shall be deemed effectively given: (i) upon personal delivery,
(ii) when sent by electronic mail or facsimile, as deemed received by the close of business on the date sent, (iii) five (5) days
after having been sent by registered or certified mail, return receipt requested, postage prepaid or (iv) one (1) day after
deposit with a nationally recognized overnight courier, specifying next day delivery. All communications shall be sent either by email,
or fax, or to the email address or facsimile number set forth on the signature page hereto. The physical address, email address,
and phone number provided on the signature page hereto shall be considered valid pursuant to the above stipulations; should the Company’s
contact information change from that listed on the signature page, it is incumbent on the Company to inform the Holder.

 

		23.	Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable
law, such provision shall be excluded from this Agreement and the rest of the Agreement shall be enforceable in accordance with its terms.

 

		24.	Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates the
applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate
of interest permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to
claim or take advantage of any law that would prohibit or forgive the Company from paying all or a portion of the principal, Interest
or Default Interest on this Note.

 

		25.	Successors and Assigns. This Agreement shall be binding upon all successors and assigns hereto. The Company
may not assign this Note without the prior written consent of Holder. This Note and any shares of Common Stock issued upon conversion
of this Note may be offered, sold, assigned or transferred by Holder without the consent of the Company.

 

—
SIGNATURE PAGE TO FOLLOW —

 

    7 

     

    

 

 

IN WITNESS WHEREOF, the Company has caused this
Note to be signed by its CEO, on and as of the Issuance Date.

 

Electromedical Technologies, Inc.

 

	Signature:	 	 

 

	By:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Address:	 	 
	 	 	 
	 	 	 
	 	 	 
	Email:	 	 
	 	 	 
	Phone:	 	 
	 	 	 
	Facsimile:	 	 

 

JSJ Investments Inc.

 

Signature:

 

Sameer Hirji, President JSJ Investments Inc.

 

10830 North Central Expressway, Suite 152

Dallas TX 75231

888-503-2599

 

    8 

     

    

 

 

Exhibit 1 Conversion
Notice

 

 

Reference is made to the 10% Convertible Note
issued by Electromedical Technologies, Inc. (the "Note"), dated September 28, 2020 in the principal amount of $108,000
with 10% interest. This note currently holds a principal balance of $108,000. The features of conversion stipulate a Conversion Price
equal to a 37% discount to the lowest trading price during the previous twenty (20) trading days to the date of a Conversion Notice pursuant
to the provisions of Section 2(a)(ii) in the Note.

 

In accordance with and pursuant to the Note, the
undersigned hereby elects to convert $______ of the principal/interest balance of the Note, indicated below into shares of Common
Stock (the "Common Stock"), of the Company, by tendering the Note specified as of the date specified below.

 

Date of Conversion: __________

 

Please confirm the following information:

 

Conversion Amount: $ ____________________

 

Conversion Price: $ ____________________
( ____ % discount from $ ____________________)

 

Number of Common Stock to be issued:
_____________________________________________________________________

 

Current Issued/Outstanding: _______________________________________________________________________________

 

If the Issuer is DWAC eligible, please
issue the Common Stock into which the Note is being converted in the name of the Holder of the Note and transfer the shares electronically
to:

 

[BROKER INFORMATION]

 

Holder Authorization:

 

JSJ Investments Inc.

	10830 North Central Expressway, Suite 152	*Do not send
certificates to this address

Dallas, TX 75231

888-503-2599

 

Tax ID: 20-2122354

 

Sameer Hirji, President

 

[DATE]

 

[CONTINUED ON NEXT PAGE]

 

PLEASE BE ADVISED, pursuant to
Section 2(e)(ii) of the Note, “Upon receipt by the Company of a copy of the Conversion Notice, the Company shall as
soon as practicable, but in no event later than one (1) Business Day after receipt of such Conversion Notice, SEND, VIA EMAIL,
FACSIMILE OR OVERNIGHT COURIER, A CONFIRMATION OF RECEIPT OF SUCH CONVERSION NOTICE TO SUCH HOLDER INDICATING THAT THE COMPANY WILL
PROCESS SUCH CONVERSION NOTICE in accordance with the terms herein. Within two (2) Business Days after the date of the
Conversion Confirmation, the Company shall have issued and electronically transferred the shares to the Broker indicated in the
Conversion Notice; should the Company be unable to transfer the shares electronically, they shall, within two (2) Business Days
after the date of the Conversion Confirmation, have surrendered to FedEx for delivery the next day to the address as specified in
the Conversion Notice, a certificate, registered in the name of the Holder, for the number of shares of Common Stock to which the
Holder shall be entitled.”

 

    9 

     

    

 

 

Signature:

 

	 	 

 

Matthew Wolfson

CEO

Electromedical Technologies, Inc.

 

    10

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