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