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 until the date the SBA remits the Company's loan forgiveness amount to the lender, or, if the Company does apply for forgiveness, for months after the end of the Company's week loan forgiveness covered period, though interest accrues during the deferral period. The loan has been used exclusively to support maintaining employee payroll and benefits. The amount of forgiveness for which IAI be approved is uncertain.