Quarterly report pursuant to Section 13 or 15(d)

Subsequent Event

v3.20.1
Subsequent Event
3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Event

Note 13—Subsequent Event

In May 2020, the Company entered into a $2.0 million Paycheck Protection Program Promissory Note and Agreement (“Promissory Note”) with a commercial bank under the Corona Virus Aid Relief Economic Security Act. The Promissory Note bears interest at 1.0% per annum. Payments are due monthly beginning November 1, 2020. The principal amount of the Promissory Note along with any unpaid interest is due on May 3, 2022. The principal and interest may be forgiven if the proceeds are used for forgivable purposes as defined by the terms in the Promissory Note.