v3.20.2
CONDENSED BALANCE SHEETS - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current Assets    
Cash $ 10,962 $ 17,862
Prepaid income taxes 215,073 67,045
Prepaid expenses 19,125 10,278
Total Current Assets 245,160 95,185
Deferred tax asset 77,423 52,268
Marketable securities held in Trust Account 48,401,503 94,541,286
TOTAL ASSETS 48,724,086 94,688,739
Current liabilities    
Account payable and accrued expenses 725,718 329,552
Advance from related party 56,194
Total Current Liabilities 725,718 385,746
Convertible promissory notes 1,123,131 719,904
Promissory notes – related parties 1,642,599 630,795
Total Liabilities 3,491,448 1,736,445
Commitments
Common stock subject to possible redemption, 3,764,625 and 8,363,100 shares at redemption value as of September 30, 2020 and December 31, 2019, respectively 40,232,637 87,952,287
Stockholders’ Equity    
Preferred stock, $0.0001 par value; 10,000,000 authorized; none issued and outstanding
Common stock, $0.0001 par value; 100,000,000 shares authorized; 4,097,947 and 3,946,146 issued and outstanding (excluding 3,764,625 and 8,363,100 shares subject to possible redemption) as of September 30, 2020 and December 31, 2019, respectively 410 395
Additional paid-in capital 3,368,432 2,817,313
Retained earnings 1,631,159 2,182,299
Total Stockholders’ Equity 5,000,001 5,000,007
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 48,724,086 $ 94,688,739

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