SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2020

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 14 – SUBSEQUENT EVENTS

On April 13, 2020, the Company was granted a loan (the “Loan”) from JP Morgan Chase Bank in the aggregate amount of $268 thousand, pursuant to the Paycheck Protection Program under Division A, Title I of the CARES Act, which was enacted March 27, 2020.

Under the terms of the Paycheck Protection Program ("PPP"), certain amounts of the Loan may be forgiven if they are used for qualifying expenses as described in the CARES Act. The Company is continuing to evaluate the criteria and new guidance put out by the Small Business Administration regarding qualifications of loans under the PPP and criteria for meeting loan conditions. No assurance is provided that forgiveness for any portion of the Loan will be obtained.