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Item 2.03.
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Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.
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Extensions of Due Dates on Notes
Payable and Other Financing Agreements
Loan Agreements
On January 7, 2019,
Ondas Holdings Inc. (“Ondas Holdings” or the “Company”) filed a Current Report on Form 8-K (the “Prior
8K”) with the Securities and Exchange Commission (the “SEC”), to report the extension of maturity dates on certain notes
payable and other financing agreements of the Company or its subsidiaries. Unless otherwise defined herein, capitalized terms have
the same meaning as those used in the Prior 8K.
On March 30, 2019,
Ondas Networks Inc. (“Ondas Networks”), the wholly owned subsidiary of Ondas Holdings, entered into an Amendment to further
amend the October 2007 Loan in the original principal amount of $550,000, to transfer all accrued and unpaid interest through March
30, 2019 to principal, and to extend the maturity date to June 30, 2019. At March 31, 2019 and December 31, 2018, the outstanding
balance of the October 2007 Loan was $581,493 and $567,310, respectively. The form of the Amendment is filed herewith as Exhibit
10.0.
On March 30, 2019,
Ondas Networks entered into an Amendment to further amend the December 2013 Note and November 2014 Loan in the original principal
amounts of $250,000 and $210,000, respectively, to transfer all accrued and unpaid interest through March 30, 2019 to principal,
and to extend the maturity date to June 30, 2019. At March 31, 2019 and December 31, 2018, the outstanding balance of the December
2013 Note was $292,821 and $285,679, respectively. At March 31, 2019 and December 31, 2018, the outstanding balance of the November
2014 Loan was $265,649 and $259,170, respectively. The form of the Amendment is filed herewith as Exhibit 10.0.
On March 30, 2019,
Ondas Networks entered into an Amendment to further amend the April 2015 Note in the original principal amount of $50,000, to transfer
all accrued and unpaid interest through March 30, 2019 to principal, and to extend the maturity date to June 30, 2019. At March
31, 2019 and December 31, 2018, the outstanding balance of the April 2015 Note was $68,174 and $66,511, respectively. The form
of the Amendment is filed herewith as Exhibit 10.0.
Financing Agreements
On March 30, 2019,
Ondas Networks entered into an Amendment to further amend the November and December 2016 Notes in the original principal amounts
of $250,000 and $100,000, respectively, to transfer all accrued and unpaid interest through March 30, 2019 to principal, and to
extend the maturity date to June 30, 2019. At March 31, 2019 and December 31, 2018, the outstanding balance of the November 2016
Note was $304,425 and $297,000, respectively. At March 31, 2019 and December 31, 2018, the outstanding balance of the December
2016 Note was $108,231 and $105,591, respectively. The form of Amendment is filed herewith as Exhibit 10.0.
On March 30, 2019,
Ondas Networks entered into an Amendment to further amend the February 2014 Financing Agreement in the original principal amount
of $660,000, to transfer all accrued and unpaid interest through March 30, 2019 to principal, and to extend the maturity date to
April 30, 2019. At March 31, 2019 and December 31, 2018, the outstanding balance of the February 2014 Financing Agreement was $981,873
and $957,925, respectively. The form of Amendment is filed herewith as Exhibit 10.0.
Private Placement Notes
On March 30, 2019,
Ondas Networks entered into Amendments to further amend the December 2015 Private Placement Notes in the original aggregated principal
amount of $325,000, and the Private Placement Notes from between February and July 2016 in the original aggregated principal amount
of $925,000, to transfer all accrued and unpaid interest through March 30, 2019 to principal, and to extend the maturity dates
to June 30, 2019. At March 31, 2019 and December 31, 2018, the outstanding balances of the Private Placement Notes were $1,377,274
and $1,343,682, respectively. The form of Amendment is filed herewith as Exhibit 10.0.
The notes payable and
other financing agreements described in this report are not transactions with related persons requiring disclosure under Item 404
of Regulation S-K.