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Sunday, April 30, 2023 8:11:10 PM
1) Without the PPP loan forgiveness ($4 million +), they would have had an operating loss
2) Cost of goods sold up much more as a percentage that increase in revenue
3) Salaries and interest expense both ballooned
4) They still have 2 smaller loans coming due in next few months that are "toxic" type--where conversion price is not fixed, but rather based on the lowest price within 20 days prior to conversion. So naturally there can be pressure to keep price low or even force it lower so as to be able to convert into more shares.
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