RE:RE:RE:RE:Quiet
The Company is utilizing the Canadian Emergency Wage Subsidy Program (CEWS), the Canadian Emergency Rent Subsidy (CERS), and the Canadian Emergency Business Account Program (CEBA). Under these programs the Company is eligible for/or has received: CEWS of $1,211,976 (June 2020 - $526,837), CERS of $247,366 (June 2020 - $nil) and CEBA loans of $120,000. The Company is utilizing the Canadian Emergency Wage Subsidy Program as in tended, keeping employees working and on payroll during the COVID-19 pandemic. The Company continues to monitor changes to all government programs and will alter its cost structure accordingly if required. Utilizing the CEWS and CERS programs, the Company recorded $459,362 ($593,486 June 2020) against direct costs for the three months ended June 30, 2021 and $531,927 ($140,570 June 2020) against EBITDA for the three months ended June 30, 2021. Utilizing the CEWS and CERS programs, the Company recorded $1,259,878 ($661,981 June 2020) against direct costs for the six months ended June 30, 2021, and $1,459,343 ($749,553 June 2020) against EBITDA for the six months ended June 30, 2021. ........................................................................ it seems that those funds reduced their cost rather than upping their revenue. Therefore, their revenue is definitely returning back to pre-pandamic level.