Ecosphere Technologies, Inc. (OTCPK:ESPH) announced that it has entered into a securities agreement for a private placement of one 10% secured promissory note with existing investor, Brisben Water Solutions LLC at a price of $500,000 per note for gross proceeds of $500,000 on October 5, 2016. The note will bear interest at a fixed rate of 10% per annum and was issued at par. The note will mature on December 15, 2017.