secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2021-07-20T23:59:59+00:00
Accession:  0001171843-21-004973
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 1.02
LLM model:  deepseek-v4-flash:cloud@v2

Psychemedics receives full forgiveness of $2.18M PPP loan from SBA
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- PPP loan principal of $2,181,157 plus accrued interest fully forgiven; forgiveness payment date July 1, 2021.
- Loan originated May 1, 2020 from Bank of America at 1% interest, originally maturing May 4, 2022.
- Forgiveness application submitted November 6, 2020; recognized in fiscal Q3 ending September 30, 2021.
- Eliminates $2.18M liability and related interest obligation from the balance sheet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184321004973/0001171843-21-004973-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184321004973/f8k_072021.htm
  HTML page:      https://secwatch.observer/filing/0001171843-21-004973

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer