Other Information.
−Removed: On May 5, 2020, the Company received funding under a promissory note dated May 5, 2020 (the “Promissory Note”) evidencing an unsecured non-recourse loan in the principal amount of $2,152,000 under the CARES Act (the “Loan”).
−Removed: The Loan to the Company is being made through Legacy Bank of Florida (the “Lender”).
−Removed: The Loan has a two-year term and matures on May 5, 2022.
−Removed: The interest rate on the Loan is 1.00% per annum.
−Removed: Payments shall be deferred for the first six months of the term of the Loan.
−Removed: Small Business Administration has the right to extend the deferment period.
−Removed: The Promissory Note contains customary events of default relating to, among other things, payment defaults, and breach of representations and warranties, or other provisions of the Promissory Note.
−Removed: The Loan may be forgiven partially or fully if the Loan proceeds are used for covered payroll costs, rent and utility costs incurred during the eight-week period that commenced on the date of funding, and at least 75% of the Loan proceeds are used for covered payroll costs.
−Removed: Any forgiveness of the Loan will be subject to approval by the U.S.
−Removed: Small Business Administration and the Lender.
−Removed: The Company will be required to apply for such forgiveness.
−Removed: Although the Company intends to use the proceeds of the Loan for such covered purposes, it can provide no assurance that the Company will obtain forgiveness of the Loan in whole or in part.
−Removed: The foregoing description of the Promissory Note does not purport to be complete and is qualified in its entirety by reference to the full text of the Promissory Note attached to this Form 10-Q as Exhibit 10.1 and incorporated herein by reference.
The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.
3 unchanged sentences
and Legacy Bank of Florida.
+Added: Amendment to Red Violet, Inc.
+Added: 2018 Stock Incentive Plan.
Certification of Chief Executive Officer filed pursuant to Exchange Act Rules 13a-14(a) and 15d-14(a) of the Securities and Exchange Act of 1934 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
11 unchanged sentences
Cover Page Interactive Data File (embedded within the Inline XBRL document).
+Added: Management contract or compensatory plan or arrangement.
This certification is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended (Exchange Act), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended or the Exchange Act.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
+Added: August 11, 2020
Red Violet, Inc.
4 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.