Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities:    
Net income $ 231,595 $ 173,458
Adjustments to reconcile net income to net cash used in operating activities:    
Interest income earned on marketable securities held in Trust Account (592,314) (387,484)
Changes in operating assets and liabilities:    
Prepaid expenses (10,058) (8,779)
Accounts payable and accrued expenses 11,076 (56,643)
Franchise and income taxes payable 52,553 71,372
Due to related party 27,000
Net cash used in operating activities (307,148) (181,076)
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account for redemptions 52,829,304
Interest income released from Trust Account to pay taxes 175,642 58,785
Net cash provided by investing activities 53,004,946 58,785
Cash Flows from Financing Activities:    
Proceeds from convertible promissory note from related party 49,771
Advances from related party 45,479 33,985
Repayment of advances from related party (100,000)
Redemptions of common stock (52,829,304)
Net cash (used in) provided by financing activities (52,834,054) 33,985
Net Change in Cash (136,256) (88,306)
Cash - Beginning of period 270,884 428,393
Cash - Ending of period 134,628 340,087
Supplementary cash flow information:    
Cash paid for income taxes 107,780
Non-Cash investing and financing activities:    
Change in value of common stock subject to possible redemption 231,597 173,462
Conversion of advances and promissory notes to convertible promissory notes 314,509
Contribution of Initial Loan to Trust Account by Sponsor $ 573,433