Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.20.1
Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash $ 17,862 $ 205,638
Prepaid income taxes 67,045
Prepaid expenses 10,278 89,095
Total Current Assets 95,185 294,733
Deferred tax asset 52,268
Marketable securities held in Trust Account 94,541,286 117,740,109
TOTAL ASSETS 94,688,739 118,034,842
Current liabilities    
Account payable and accrued expenses 329,552 256,301
Income taxes payable 14,852
Advance from related party 56,194
Total Current Liabilities 385,746 271,153
Promissory note 719,904
Promissory note - related party 630,795
Total Liabilities 1,736,445 271,153
Commitments
Common stock subject to possible redemption, 8,363,100 and 11,030,442 shares at redemption value as of December 31, 2019 and 2018, respectively 87,952,287 112,763,686
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; 3,946,146 and 3,789,558 issued and outstanding (excluding 8,363,100 and 11,030,442 shares subject to possible redemption) as of December 31, 2019 and 2018, respectively 395 379
Additional paid-in capital 2,817,313 3,979,089
Retained earnings 2,182,299 1,020,535
Total Stockholders' Equity 5,000,007 5,000,003
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 94,688,739 $ 118,034,842