Paycheck Protection Program Loan	6 Months Ended
Jun. 30, 2021
Paycheck Protection Program Loans [Abstract]
Paycheck Protection Program Loan	9. Paycheck Protection Program Loan On May 7, 2020, the Company received a two-year loan (the “PPP Loan”) from HSBC Bank USA, N.A., the lender, in the amount of $3,508,047 under the Paycheck Protection Program established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act). Monthly payments of principal and interest were deferred until the application for forgiveness submitted by the Company had been acted upon, as described below. Under the CARES Act, all or a portion of the PPP Loan was eligible to be forgiven by the U.S. Small Business Administration (“SBA”) and the lender, upon application by the Company, provided that the Company shall have used the loan proceeds for certain eligible purposes. The Company used the loan proceeds solely for payment of payroll and otherwise in a manner which it believed would satisfy the requirements for loan forgiveness. In August 2020, the Company submitted an application for forgiveness of the entire amount of the PPP Loan to the lender. The lender approved the forgiveness application and, on August 26, 2020, submitted the Company’s application to the SBA for its approval. The PPP Loan was fully forgiven by the SBA and on June 9, 2021, payment in the amount of $3,508,047 was made by the SBA to the lender. The Company recorded the amount forgiven as income in the quarter ended June 30, 2021.

Paycheck Protection Program Loan

6 Months Ended

Jun. 30, 2021

Paycheck Protection Program Loans [Abstract]

9. Paycheck Protection Program Loan

On May 7, 2020, the Company received a two-year loan (the “PPP Loan”) from HSBC Bank USA, N.A., the lender, in the amount of $3,508,047 under the Paycheck Protection Program established by the Coronavirus Aid, Relief and Economic Security Act (CARES Act). Monthly payments of principal and interest were deferred until the application for forgiveness submitted by the Company had been acted upon, as described below.

Under the CARES Act, all or a portion of the PPP Loan was eligible to be forgiven by the U.S. Small Business Administration (“SBA”) and the lender, upon application by the Company, provided that the Company shall have used the loan proceeds for certain eligible purposes. The Company used the loan proceeds solely for payment of payroll and otherwise in a manner which it believed would satisfy the requirements for

loan forgiveness. In August 2020, the Company submitted an application for forgiveness of the entire amount of the PPP Loan to the lender. The lender approved the forgiveness application and, on August 26, 2020, submitted the Company’s application to the SBA for its approval. The PPP Loan was fully forgiven by the SBA and on June 9, 2021, payment in the amount of $3,508,047 was made by the SBA to the lender. The Company recorded the amount forgiven as income in the quarter ended June 30, 2021.