Foreign-Based Companies Sphere 3D and Iterum Therapeutics Join PPP Recipient Club

Foreign-Based Companies Sphere 3D and Iterum Therapeutics Join PPP Recipient Club
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Two More Foreign-Based Companies, Sphere 3D Corp and Iterum Therapeutics plc, Join PPP Recipient Club, Mom and Pop Small Businesses Still Losing Out

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WASHINGTON, D.C. – The latest Securities and Exchange Commission filings show 53 additional publicly traded companies secured over $32 million in SBA Paycheck Protection Program (PPP) funds meant for struggling small businesses on main street, including two based in foreign countries and at least two businesses with more than 500 employees.

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Thursday marked more than 500 publicly-traded companies that The Trump administration has granted PPP funds, totaling over $1.6 billion in taxpayer assistance.

Sphere 3D And Iterum Therapeutics Bag PPP Loans

A deeper dive reveals Canada-based data management company Sphere 3D Corp secured a $667,400 PPP loan after most recently paying its executives $2,424,576. Ireland-based pharmaceutical company Iterum Therapeutics plc took home a $700,000 PPP loan as its executives enjoyed a $2,840,232 compensation package last year.

“More than 100,000 small businesses have shuttered during this crisis, leaving workers across the country worried about how they will pay rent and put food on the table,” said Jeremy Funk, spokesman for Accountable.US. “These mom-and-pop small businesses never received the help they were promised by the President. As long as the administration prioritizes help for big publicly traded companies that have access to resources most small business owners could never dream of — including resources abroad — small businesses and their employees will continue to pay the price for the Trump administration’s incompetence.”

These filings were compiled as part of an ongoing tracking project by government watchdog Accountable.US. documents the billion-dollar corporations and other large companies that have received taxpayer assistance under the CARES Act, and what advantages and assets they had going into the CODID-19 crisis that most small businesses could never access.

Among The Latest Publicly-Traded PPP Recipients:

4/6/20 SeD Intelligent Home Inc. MD $68,502 4
4/8/20 DropCar Inc. NY $345,294 6
5/4/20 Cicero Inc. NC $283,917 14
5/4/20 QuoteMedia AZ $133,257 79
4/23/20 Regulus Therapeutics Inc. CA $700,000 21
4/13/20 Salarius Pharmaceuticals, Inc. TX $180,000 8
4/21/20 Clinigence Holdings, Inc. GA $333,125 12
4/23/20 Kannalife Inc. PA $84,200 7
4/9/20 Sphere 3D Corp NON-US: Toronto, ON, Canada $667,400 28
4/17/20 Corning Natural Gas Holding Corp NY $1,108,100 64
April 2020 Sunlink Health Systems Inc. GA $3,234,000 [not immediately apparent]
4/11/20 Acer Therapeutics Inc. MA $600,000 17
5/8/20 Vaccinex, Inc. NY $1,133,600 49
4/30/20 Iterum Therapeutics plc NON-US: Dublin, Ireland $700,000 44
4/15/20 Evolving Systems Inc. CO $318,900 261
April 2020 Armata Pharmaceuticals, Inc. CA $717,000 38
4/13/20 Bimini Capital Management Inc. FL $152,000 7
April 2020 Cemtrex Inc. NY $3,471,100 297
4/17/20 Verb Technology Company Inc. CA $1,218,000 91
April 2020 Document Security Systems Inc. NY $963,000 100
4/16/20 MGT Capital Investments Inc. NC $108,000 3
4/13/20 AgeX Therapeutics Inc. CA $432,952 17
4/17/20 Where Food Comes From Inc. CO $1,000,000 66
5/8/20 Crypto Company CA $53,492 5
4/24/20 AIM ImmunoTech Inc. FL $588,000 26
April 2020 Midwest Energy Emissions Corp. TX $299,300 11
4/21/20 Enerteck Corp. TX $73,100 4
4/20/20 Bio Key International Inc. NJ $340,000 15
5/8/20 Nuverra Environmental Solutions Inc. AZ $4,000,000 700
April 2020 Dare Bioscience Inc. CA $367,000 18
5/1/20 Yew Bio Pharma Group Inc. CA $70,920 36
4/15/20 Citius Pharmaceuticals Inc. NJ $164,583 9
April 2020 Neuroone Medical Technologies Corp. MN $83,333 4
5/8/20 HealthLynked Corp. FL $585,969 37
5/12/20 GI Dynamics Inc. MA $195,147 15
5/8/20 Andrea Electronics Corporation NY $142,775 9
4/12/20 US Global Investors Inc. TX $442,000 24
Q2 2020 Tengasco Inc. CO $166,000 12
5/8/20 Clearsign Technologies Corp. WA $250,832 15
5/12/20 BioHiTech Global Inc. NY $421,300 27
4/27/20 KULR Technology Group Inc. CA $155,226 11
4/30/20 Medalist Diversified REIT Inc. VA $305,900 0
5/8/20 TechPrecision Corporation MA $1,317,100 95
5/1/20 Applied DNA Sciences, Inc. NY $847,000 51
5/4/20 Innodata Inc. NJ $579,700 3733
4/22/20 Nexgel Inc. PA $147,300 6
4/16/20 iBio Inc. NY $600,000 55
4/21/20 Leap Therapeutics Inc. MA $662,420 26
5/4/20 Enviro Technologies, Inc. FL $111,971 6
4/23/20 Mentor Capital Inc. CA $76,500 53
5/7/20 Lightning Gaming Inc. PA $246,200 13
April 2020 Escalon Medical Corp PA $500,000 38
4/15/20 Brickell Biotech Inc. CO $437,123 15

*Company has indicated they will return the money.

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Jacob Wolinsky is the founder of, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at) - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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