Everyone right now, that has received PPP money is trying to figure out what is the best way to spend it.
The quick answer to your question is that they will show it as a loan until it is actually forgiven. However, to my first point, if they use the money to pay of high interest debt, the benefit will accrue immediately.
If they use it to pay their employees (as I suspect) they will also benefit immediately by lowering (eliminating) their payroll costs for 8 weeks and the loan will accrue - which does not affect profit.
The primary point here is that most companies that received PPP used it to pay employees that are not working. TLSS is paying employees that ARE working....so they are free during that period. (PROFIT)
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