In April 2020, Vaso Corporation (the “Company”) received funding of a $3,610,900 Note (the “PPP Note”) issued by PNC Bank (“PNC”) to the Coronavirus Aid, Relief and Economic Security (CARES) Act’s Paycheck Protection Program.

On June 24, 2021, the Company received confirmation that on June 10, 2021 the Small Business Administration approved the Company’s PPP Note forgiveness application for the entire PPP Note balance of $3,610,900 in principal and $42,428.07 in interest. Accordingly, the Note issued by PNC has been fully forgiven.

About VASO CORPORATION (OTCMKTS:VASO)

Vaso Corporation, formerly Vasomedical, Inc., is a medical technology company. The Company is engaged in providing professional sales services for diagnostic imaging products; managed information technology (IT) systems and services, including healthcare software solutions and network connectivity services, and the design, manufacture and sale of proprietary medical devices. The Company’s segments include IT segment, which operates through a subsidiary, VasoTechnology, Inc., which focuses on healthcare IT and managed network technology services; Professional sales service segment, which operates through a subsidiary, Vaso Diagnostics, Inc., doing business as VasoHealthcare, which focuses on the sale of healthcare capital equipment for General Electric Healthcare into the health provider middle market, and Equipment segment, which operates through a subsidiary, VasoMedical, Inc., which focuses on the design, manufacture, sale and service of proprietary medical devices.