WHAT WOULD YOU DO POST ACQUISITION?

I went the self funded route and bought a company for $815k putting $85k down. It was independently valued at $1.3MM without working capital and I negotiated about $300k of working capital into the deal. My note was $760k after closing costs and attorneys fees. My company had an Ebitda last year of $350k ebitda after paying $180k to the owner and his wife and was growing at 17% per year. It's cash flowed $350k to this point in the year despite COVID-19 and I acquired in the first quarter. For the life of me I don't know what to do with the cash and here are my options:
1) Pay down the debt: The SBA is covering the cost of the debt for the next few months as part of the USA's stimulus for small businesses. Borrowing at zero percent is great leverage as long as I can make a profit.
2) Invest in the public markets: I just can't bring myself to pay today's prices for the low returns that the public markets are bringing. Debt is so cheap that I think it's driving up asset prices to insane levels. It just doesn't make sense to me.
3) Acquire another company: I'd like to do this but in the best case scenario that takes a long time to find a great target and build the rapport to acquire. It also requires a lot of energy that may not pay off with a good acquisition.
4) Do nothing: this may pay off but there's also the opportunity cost of any investments or deals.
5) Some combination of the above.

How should I approach this decision? What would you do?



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