As you know, I have been republishing the financial data for many of the companies operating in the energy sector.  I was surprised to see that all the companies that I researched published a loss for the 1st Qtr of 2020.

So, I decided to do the same thing for companies who received PPP loans.  ENGlobal obtained $4.9 million in PPP.  Take a look at their net income below given.

In thousands of dollars, and losses are denoted in RED,

1st Qtr 2019 2nd Qtr 2019 3rd Qtr 2019 Annual 2019 1st Qtr 2020
974 517 716 1,401 1,101

I hope these companies are not using government money to cover their business losses.

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