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PPP LOAN PAYABLE
6 Months Ended
Jun. 30, 2021
PPP LOAN PAYABLE  
6. PPP LOAN PAYABLE

6. PPP LOAN PAYABLE

 

A loan to the Company in the principal amount of $9,501 was approved under the terms and conditions of the Paycheck Protection Program of the United States Small Business Administration (“SBA”) and the CARES Act (2020) (H.R. 748) (15 U.S.C. 636 et seq.) (the “Act”) and was funded in May 2020. In June 30, 2021, the PPP loan was forgiven, with a gain on debt forgiveness of $9,501 recorded in the statement of operations.