Helix Technologies Inc. (fka HLIX)

[NobleRoman]

No CARE for Cannabis

I guess it was just wishful thinking according to this article.

https://mjbizdaily.com/what-cannabis-companies-need-to-know-about-the-cares-act-paycheck-protection-program/

The new law specifically prohibits businesses that are illegal at the federal level – and companies that get revenue from such businesses – from accessing CARES Act money.

Well, shoot. That makes perfect legal sense actually.

But maybe there is home for the near future on that front since "lobbying is underway to expand the program."

PHUN just announced their participation in the program.

Phunware (PHUN-OLD) has received a $2,850,336 PPP loan through JPMorgan Chase Bank (JPKCZ). The two-year, SBA administered PPP loan has an interest rate of 1.0% Per Annum, with initial payments deferred for six months. PPP loan proceeds will primarily be used for payroll costs and to retain workers.

1% interest. This is discrimination. Prohibition Part 2.