The main $10 mill SNI PPP loan I believe will be in Q1 (fiscal). There was a $1.3 mill loan forgiven for this Q IIRC (fiscal Q4). The rest sounded like will mostly be calendar Q4/fiscal Q1 but not sure.
I think there was a fund selling lately (guessing tax loss but who knows). I could see the pressure with the ask and hitting bids the last week or so. I think we are at a base period right now running around $38 mill/Q with a bit of wiggle room from Q to Q.
One thing that reassured me a bit is that even with the cash they should have ($10 mill+ and growing), the CEO brought up taking care of internal things first before acquiring and that they were focusing internally first when people were asking about acquisitions going off memory. They’ve never really had much low cost liquidity to fund/improve things internally so it makes sense they’d use at least a little cash to help beef up internally right now.
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