Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities:    
Net income $ 704,247 $ 60,149
Adjustments to reconcile net income to net cash used in operating activities:    
Interest income earned on marketable securities held in Trust Account (1,420,186) (389,634)
Changes in operating assets and liabilities:    
Prepaid expenses 17,715 (32,482)
Accounts payable and accrued expenses 39,488 4,951
Due to related party 87,000 28,000
Franchise and income taxes payable (24,694) 106,940
Net cash used in operating activities (596,430) (222,076)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account (116,150,000)
Interest income released from Trust Account to pay taxes 330,603
Net cash provided by (used in) investing activities 330,603 (116,150,000)
Cash Flows from Financing Activities:    
Proceeds from sale of Units, net of underwriting discounts paid 112,125,000
Proceeds from sale of Private Units 5,025,000
Advances from related party 356,566 82,599
Repayment of advances from related party (61,558)
Increase in due to related party 51,521
Repayment of note payable - related party (191,521)
Payment of offering costs (272,686)
Net cash provided by financing activities 356,566 116,758,355
Net Change in Cash 90,739 386,279
Cash - Beginning of period 428,393 67,250
Cash - Ending of period 519,132 453,529
Supplementary cash flow information:    
Cash paid for income taxes 236,578
Non-Cash investing and financing activities:    
Change in value of common stock subject to possible redemption 704,251 99,275
Initial classification of common stock subject to possible redemption 107,662,332
Deferred underwriting fees charged to additional paid in capital 4,025,000
Offering costs charged to additional paid in capital $ 172,750