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Other Income
12 Months Ended
Dec. 31, 2021
Other Income  
Other Income

Note 13 - Other income

Other income for the year ended December 31, 2021 was $2.5 million, resulting from the forgiveness of the PPP Loan.

On June 23, 2020, Kevin J. Zugibe, Chairman of the Board and Chief Executive Officer of the Company, passed away unexpectedly. During the third quarter of 2020, the Company received $1 million of key man life insurance proceeds and accordingly recorded the amount as Other income in its Consolidated Statement of Operations.