Taoping Inc. Convertible Note Issuance and Purchase Agreement

Taoping Inc. has entered into a Securities Purchase Agreement with Streeterville Capital, LLC for an unsecured convertible promissory note totaling $3,195,000 with a 12-month maturity. The note includes an original issue discount of $180,000 and $15,000 for transaction costs, resulting in a purchase price of $3,000,000. Interest accrues at 7% annually. The agreement allows Streeterville Capital to convert the note balance into Taoping Inc. ordinary shares at a conversion price of $6.00, subject to a 9.99% beneficial ownership limitation. The investor also has redemption rights, with a maximum monthly redemption of $250,000, payable in cash or shares. Specific conditions trigger increased penalties or mandatory cash payments. The company estimates net proceeds of $3.0 million for working capital and general corporate purposes. The filing also includes legal opinions regarding the validity of shares issuable upon conversion.