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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Flyht Aerospace Solutions Ltd | TSXV:FLY | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.03 | -6.00% | 0.47 | 0.465 | 0.53 | 0.475 | 0.47 | 0.475 | 31,401 | 21:00:05 |
Canadian Emergency Wage Subsidy (“CEWS”) program funds totaling $167,589 were received for Period 1, covering March 15 to April 11, 2020. This program automatically qualifies participating companies for one subsequent period, so FLYHT expects to receive a similar subsidy for Period 2, covering April 12 to May 9, 2020. FLYHT will also apply for future funding under this program, if eligibility criteria for subsequent periods are met. This subsidy does not have to be repaid.
FLYHT Inc., the Company’s wholly owned United States subsidiary, has received a loan from the United States’ Small Business Administration (“SBA”) under the Payroll Protection Program (“PPP”) of the CARES Act. This one-time loan under the PPP is valued at US$585,235. The loan has been issued with an annual interest rate of 1% over a two-year term and with an interest rate of 1%. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
About FLYHT Aerospace Solutions Ltd. FLYHT improves aviation safety, efficiency and profitability by providing airlines, leasing companies, owners, operators and original equipment manufacturers with real-time insights into how their aircraft are performing. The Company’s products include AFIRS™ (Automated Flight Information Reporting System), a satellite communications (Satcom) aircraft interface device (AID) which enables real-time streaming of flight information, aircraft tracking and health monitoring, fuel management, and black box data streaming, as well as TAMDAR™ (Tropospheric Airborne Meteorological Data Reporting), which aggregates and streams airborne weather data in real-time. FLYHT is headquartered in Calgary, Canada with an office in Littleton, Colorado and is an AS9100 Quality registered company. For more information, visit www.flyht.com
Contact Information: | |
FLYHT Aerospace Solutions Ltd. Alana ForbesChief Financial Officer 403-291-7437aforbes@flyht.com | Investor Relations:Adelaide Capital Markets Inc.Deborah Honig647-203-8793deborah@adcap.ca |
Join us on social media! www.twitter.com/flyhtcorpwww.facebook.com/flyht www.slideshare.net/flyhtcorp www.youtube.com/flyhtcorp www.flyht.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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