ZUNICOM, INC. Announces Pay Check Protection Plan Loan
DALLAS, June 12, 2020 /PRNewswire/ -- Action Computer Systems LLC (ACS), a wholly-owned subsidiary of AlphaNet Hospitality Systems Inc which is a wholly-owned subsidiary of Zunicom, Inc., has been severely impacted by the advent of the coronavirus. ACS sells and services point-of-sale systems to restaurants in the New York City metropolitan area. With the closing of all non-essential businesses, which includes all restaurants, ACS' revenues have dropped to near zero. AlphaNet has applied for and received a loan under the Pay Check Protection Plan (PPP) under the newly enacted CARES act. The amount of the loan is $55,227 and AlphaNet has twenty-four weeks to use the funds for allowable purposes which include payroll, rent and utilities. Thereafter, AlphaNet has six weeks to file an application for forgiveness of the loan with the Small Business Administation.
Forward Looking Statement Disclaimer
This release contains a number of forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expresses or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
SOURCE Law Office of Carl A Generes; Zunicom, Inc.
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