Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the revised and updated applications.
Financial statements for Lems Pharmaceutical Limited for the years ended 28 February 2017, 28 February 2018, 28 February 2019 and 29 February 2020 Shareholders are referred to the RNS dated 14 May 2021 - which set out the financial statements for the years ended 28 February 2017, 28 February 2018, 28 February 2019 and 29 February 2020 Shareholders should note that the audit reports contained in the annual reports as referred to in the RNS of 14 May 2021 and uploaded on the Umuthi website on 10 May 2021, have been updated in this RNS, to confirm and clarify that the audit report in the 2020 Annual Report pertains to the statutory audits for both 28 February 2020 and February 2019 year ends. The 2018 Annual Report pertains to the statutory audits for both 28 February 2018 and February 2017 year ends.
Forgiveness Reductions Based on Salary or Wages
Documents
1. COVERED PERIOD:
The covered period is the period beginning on the date the lender disburses the PPP loan and ending on the date selected by the borrower that occurs during the period (i) beginning on the date that is 8 weeks after the date of disbursement, and (ii) ending on the date that is 24 weeks after the date of disbursement (the “Covered Period”). Please note that the option to elect an alternative covered period was removed because the Economic Aid Act provided borrowers flexibility to choose the end of their Covered Period. The Covered Periods for a First Draw PPP Loan and a Second Draw PPP Loan cannot overlap; the borrower must use all proceeds for the First Draw PPP Loan for eligible expenses before disbursement of the Second Draw PPP Loan.
Why You May Want to Wait to File for PPP Loan Forgiveness and Other Tips - Update #9 | Schwabe, Williamson & Wyatt PC jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.