Note 11 - Notes Payable

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Debt Disclosure [Text Block]

11. Notes Payable

On May 7, 2020, the Company received loan proceeds in the amount of approximately $332,000 under the Paycheck Protection Program (“PPP”). The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), provided for loans to qualifying businesses. The loans and accrued interest are forgivable if the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. The Company used the loan proceeds for purposes consistent with the PPP requirements and applied for loan forgiveness. During the six months ended June 30, 2021, both of the Company's two PPP loans totaling $332,000 were forgiven. 

Notes payable were comprised of the following (in thousands):

	June 30, 2021		December 31, 2020
Notes payable, current portion
Paycheck Protection Program	$	—	$	29
Total notes payable, current portion	$	—	$	29
Notes payable, non-current portion
Paycheck Protection Program	$	—	$	303
Total notes payable, non-current portion	$	—	$	303