Something really interesting in there "The PPP,
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Posted On: 05/14/2020 1:57:22 PM
Something really interesting in there
"The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act, provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business."
If they got 2.5 times, then their monthly expenses is $487K on average.
Way lower than I estimated. That would be less than $6M/yr.
Either they didn't get the full 2.5 or more people's comp in based in shares. If the latter, that's a good thing but getting extra $1,218,000 is good as well.
Fillings over the next few days will provide a good view.
"The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act, provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business."
If they got 2.5 times, then their monthly expenses is $487K on average.
Way lower than I estimated. That would be less than $6M/yr.
Either they didn't get the full 2.5 or more people's comp in based in shares. If the latter, that's a good thing but getting extra $1,218,000 is good as well.
Fillings over the next few days will provide a good view.
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