Replies to post #137278 on Vystar Corp (VYST)

[dukeb]

This isn't entirely accurate. At least 75% (although the most recent proposals are to lower the figure to 65%) has to be expended on payroll in order for the PPP to be forgiven.

There is no requirement that the money actually go to employees of the furniture store. The money has to be spent on payroll. And, while there is a limit of $ 100K (on an annualized basis) for each employee, certain benefit payments, such as employer contributions toward health benefits and retirement plans can cause the individual exemption to rise about the $ 100K annualized amount.

One can easily conjure up scenarios where friends and family are sent paychecks in order to hit the 75%. Dirty deeds don't seem to be something foreign to at least some members of the Rottman family.

it goes into the employees’ hands, a great number of which they would have laid off and not have to pay anyways.