Due to the coronavirus uncertainty, and pending staffing and payroll cuts due to liquidity constraints, the Company applied for a Paycheck Protection Program loan (“PPP”), guaranteed by the U.S. Small Business Administration (“SBA”). The Company was funded by its lender on in the amount of The loan accrues interest at a fixed rate of and has a term of years. The payment is deferred for months, though interest accrues during the deferral period. The loan has been used exclusively to support maintaining employee payroll and benefits. Though the PPP program was amended by the U.S. Congress to allow the proceeds of the loan that qualify for forgiveness to be extended to weeks, the Company has opted to apply for forgiveness under the original PPP based on the use of proceeds over weeks. The Company will apply to the SBA through its lender for forgiveness for an amount of as soon as its lender's PPP forgiveness portal is available, which is currently expected to be in late The amount of forgiveness for which IAI be approved is uncertain.