Taoping Inc. entered into a securities purchase agreement with new investor Streeterville Capital, LLC for issuance of unsecured convertible promissory note for gross proceeds of $565,000 on September 27, 2023. The note has the original principal amount of $609,000.00 including the original issue discount of $44,000. The note has a 12-month maturity to investor.

The note carry interest rate of 8% per annum.The company also incurred legal and other transaction costs of $15,000.