In April 2020, Vaso Corporation (the Company) received funding of a $3,610,900 Note (the PPP Note) issued by PNC Bank (PNC) pursuant to the Coronavirus Aid, Relief and Economic Security (CARES) Acts Paycheck Protection Program. On June 24, 2021, the Company received confirmation that on June 10, 2021 the Small Business Administration approved the Company's PPP Note forgiveness application for the entire PPP Note balance of $3,610,900 in principal and $42,428.07 in interest. Accordingly, the Note issued by PNC has been fully forgiven.