GLG EIDL(oan) Disclosure

Apparently some users are upset about businesses getting their tax money back from the government due to COVID.

The GLG received $137,000.00 in unsecured funds in April 2020 in the form of a low interest loan from the SBA.

We are also rolling our 2020 losses back to compensate for our 2019 profits, which will result in a significant amount of tax refunds for 2021. (ProTip, make your CPA a partner in your businesses)

We spent the loaned money on qualified expenses such as meetups, travel, swag, website updates (currently in the works), and the GLG HQ in Washington (many of you visited the HQ site which we lease from Powers Produce).

I should’ve spent it all on BTC, but hindsight is 20/20.

Any questions?


XD you don’t owe anyone for a freezer by chance?
You a bitcoin millionaire? Did your business rise in gains from the pandemic and the money wasn’t necessary? If you have a staff I hope they are taken care of and happy, but EIDL is also different from PPP. That’s my two cents on the subject. You gotta play the game too, so hating others for doing it is futile. I would easily assume the pandemic did hurt your business being meetups are a huge part of it.

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Shoulda got a lambo


Pre pandemic total membership count: 1500
Pandemic count: 500
Currently: 750

Pre pandemic meetups: Monthly
Pandemic: 1 in January
Currently: 1 every 2 months on average

Pandemic revenue easily less than 50% the year before

The GLG has 1 employee, its me


Would it change your opinion if I was? The Gang isn’t a BTC millionaire, but the GLG is its own S corp.

I personally currently tip the extra comma at roughly $25k BTC

@Future thank you for the disclosure however I don’t think there is anything wrong with any business taking advantage of low-interest loans from SBA. That is actually a smart business decision. One of my companies got this as well.

I do know there was a lot of activity in the thread started by @COVID-69 regarding PPP loans and people taking advantage of them. Unless someone knows the internals of a business it is very harsh to make comments.

It’s still not free money regardless of what people think. We never applied for it but that is a choice we made and I know a handful of people who got the PPP loans for their businesses that were doing well on one side and then, on the other hand, they had commercial real estate in which none of their tenants had paid the rent for a year or more now.

It is not free money that is all I am going to say. I pay millions of dollars in excise taxes because of stupid laws let alone business or personal taxes. EIDL is very different from PPP.


Decided financing a permanent location to host meetups when other venues refuse was more appropriate. Heard I was supposed to Lambo when BTC moon too, but not really my style


I reckon that’s a matter of opinion no matter what I state. For some it’s not a matter of need, but a matter of greed. I don’t see you in this category.

Don’t speak too soon…


lambo tractors are the best lambo investment!


I’m gonna say any v12 gated manual is gonna be highly desirable when everything is electric

They will be collected like art.


Does any low mileage Lambo not appreciate eventually?


They definitely depreciate to a certain point and then they start to appreciate.

I’d imagine a lot of these murcelogos will fetch a 1/2m+ once everything goes electric. It’s already been over 10 years since Lamborghini or Ferrari I think have put a manual in an automobile.

Countachs and diablos are already more used than these cars cost brand new. Murcelogos are next and the last of the Lamborghini gated v12s.

They only made a few thousand of these cars total over a period of time. As time goes on. These cars get damaged and slowly get more limited.


im gonna disclose because i just found out im eligible for the american rescue plan child tax credit.

I didnt even know about this till this morning. i saw it on the news and was like do i quality… definetly aint getting all of it but no one in my household made over 200k and our household combined was under 400k for sure.

Free money…damn! $2k is better than no K…im sure @future will qualify for this as well…especially hearing some of his stuff here


That’s that $300mo starting July right? I bet I see it DD.
I applied for 2k in PPP. Kinda hoping it can build credit.


yes…i think $200 a month for me till christmas… we spending that shit right on my kid… im wondering what i can buy my kid which will appreciate in this economy…


I was thinking it was gonna cover some school extra curriculum. Karate or ballet. Dunno.

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let my kid blow it all on pokemon cards… :joy: :rofl: :joy: :rofl:


Shit that’s going nuts. Wish I didn’t hand mine down.

Ya my lady will be eligible for the Child Tax credit. We aren’t married and her business pays her >$40k/year

If you are looking for a corporation to be mad at…

Not only did they post more profits than ever and pay their executives millions in bonuses, they are currently suing thousands of poor patients, on top of receiving a bunch of fed money.