Description of Organization and Business Operations (Details) - USD ($) |
1 Months Ended | 9 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 10, 2019 |
Mar. 15, 2019 |
Mar. 08, 2019 |
Mar. 05, 2019 |
Jun. 07, 2017 |
Jun. 05, 2019 |
Apr. 10, 2019 |
Jun. 23, 2017 |
Sep. 30, 2019 |
Sep. 30, 2018 |
Nov. 30, 2019 |
Oct. 31, 2019 |
Oct. 30, 2019 |
Apr. 15, 2019 |
Dec. 31, 2018 |
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Description of Organization and Business Operations (Textual) | |||||||||||||||
Proceeds from sale of units, gross proceeds | $ (100,000) | ||||||||||||||
Gross proceeds | $ (52,829,304) | ||||||||||||||
Sale of stock, per unit | $ 0.0225 | $ 10.10 | $ 10.00 | ||||||||||||
Sale of additional units | 125,000 | ||||||||||||||
Net proceeds of trust account | $ 116,150,000 | ||||||||||||||
Transaction costs amount | $ 7,345,436 | ||||||||||||||
Underwriting fees | 2,875,000 | ||||||||||||||
Deferred underwriting fees | 4,025,000 | $ 4,025,000 | |||||||||||||
Initial public offering costs | $ 445,436 | ||||||||||||||
Business combination minimum percentage | 80.00% | ||||||||||||||
Business combination percentage of voting securities | 50.00% | ||||||||||||||
Business combination operating expenses | $ 400,000 | $ 542,870 | |||||||||||||
Business combination extension expenses | $ 300,000 | ||||||||||||||
Description of business acquisition equity | The Company's stockholders approved to further extend the period of time for which the Company is required to consummate a Business Combination from June 7, 2019 to September 9, 2019 (or December 9, 2019 if the Company has executed a definitive agreement for a Business Combination by September 9, 2019) or such earlier date as determined by the Board (the "Second Extension Amendment"). The number of shares of common stock presented for redemption in connection with the Second Extension Amendment was 1,580,762. The Company paid cash in the aggregate amount of $16,476,233, or approximately $10.42 per share, to redeeming stockholders. As a result of the payment on the shares of common stock presented for redemption in connection with the Second Extension Amendment, cash and marketable securities held in the Trust Account decreased to $49,993,473. | Subject to the terms and conditions of the Business Combination Agreement, at the Closing, the Company will acquire 100% of the outstanding equity and equity equivalents of CannBioRx (including options, warrants or other securities that have the right to acquire or convert into equity securities of the Company) in exchange for shares of KBL Common Stock (the “Transaction Shares”) valued at $175 million, subject to adjustment. Each Transaction Share will have a value equal to $10.00. The $175 million of consideration will be reduced by the amount of any liabilities of CannBioRx in excess of $5 million at the Closing. | |||||||||||||
Taxes payable | $ 50,000 | ||||||||||||||
Redemption of outstanding public shares, description | In connection with the redemption of 100% of the Company's outstanding Public Shares for a portion of the funds held in the Trust Account, each holder will receive a full pro rata portion of the amount then in the Trust Account, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company for taxes payable and up to $50,000 of interest to pay dissolution expenses. | ||||||||||||||
Cash balance | $ 836,000 | ||||||||||||||
Interest income | 1,423,000 | ||||||||||||||
Loan the company funds | $ 1,000,000 | ||||||||||||||
Interest income from trust account | 1,097,000 | ||||||||||||||
Income and franchise taxes | 397,000 | ||||||||||||||
Redemption of common stock value | $ 5,128,523 | (69,305,537) | |||||||||||||
Cash paid to redeeming stockholders | $ 52,829,304 | ||||||||||||||
Cash paid per share to redeeming stockholders | $ 10.30 | ||||||||||||||
Company loaned for repayment to stockholders | 573,433 | ||||||||||||||
Public shares of redeemed per share | $ 0.09 | ||||||||||||||
Redeemable public shares | 6,371,477 | ||||||||||||||
Initial loan was repaid | $ 573,433 | ||||||||||||||
Cash and Marketable securities held in trust account decreased | $ 65,633,068 | ||||||||||||||
Working capital | 45,479 | ||||||||||||||
Outstanding under promissory note | 742,405 | ||||||||||||||
Loans from the Target Company Parties | $ 400,000 | ||||||||||||||
Trust account deposits | 431,164 | ||||||||||||||
Subsequent Event [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Trust account deposits | $ 107,791 | $ 107,791 | |||||||||||||
Promissory Note [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Business combination price per share | $ 10.00 | ||||||||||||||
Loans under promissory note may be converted | $ 1,000,000 | ||||||||||||||
Outstanding under promissory note | 412,301 | ||||||||||||||
Initial loan from sponsor | $ 650,000 | ||||||||||||||
Promissory Note [Member] | Subsequent Event [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Outstanding under promissory note | $ 75,000 | ||||||||||||||
Promissory Note [Member] | Sponsor [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Outstanding under promissory note | $ 650,000 | ||||||||||||||
Public stockholders [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Sale of stock, per unit | $ 10.10 | ||||||||||||||
Sale of additional units | 5,000,001 | ||||||||||||||
Business combination percentage of voting securities | 100.00% | ||||||||||||||
Description of business acquisition equity | In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be only $10.19 per share initially held in the Trust Account. | ||||||||||||||
Initial Public Offering [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Initial public offering of units | 10,000,000 | 11,500,000 | |||||||||||||
Proceeds from sale of units, gross proceeds | $ 100,000,000 | $ 115,000,000 | |||||||||||||
Sale of stock, per unit | $ 10.00 | $ 10.00 | |||||||||||||
Sale of additional units | 1,500,000 | ||||||||||||||
Description of business acquisition equity | If the Company is unable to complete a Business Combination by the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which interest shall be net of taxes payable and less up to $50,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining stockholders and the Board, dissolve and liquidate, subject in the case of clauses (ii) and (iii) to the Company's obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. | ||||||||||||||
Redemption of outstanding public shares, description | An aggregate of 15% or more of the Public Shares. | ||||||||||||||
Private Placement [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Initial public offering of units | 450,000 | ||||||||||||||
Private placement of units | 450,000 | ||||||||||||||
Gross proceeds | $ 4,500,000 | $ 525,000 | $ 4,500,000 | ||||||||||||
Sale of stock, per unit | $ 10.00 | $ 10.00 | |||||||||||||
Business combination operating expenses | $ 696,926 | ||||||||||||||
Over-allotment Option [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Gross proceeds | $ 15,525,000 | ||||||||||||||
Sale of stock, per unit | $ 10.00 | ||||||||||||||
Sale of additional units | 1,500,000 | ||||||||||||||
Trust Account [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Sale of stock, per unit | $ 10.10 | ||||||||||||||
Net proceeds of trust account | $ 15,150,000 | ||||||||||||||
Additional Private Units [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Sale of stock, per unit | $ 10.00 | ||||||||||||||
Sale of additional units | 52,500 | ||||||||||||||
Initial Public Offering and Private Placement [Member] | |||||||||||||||
Description of Organization and Business Operations (Textual) | |||||||||||||||
Sale of stock, per unit | $ 10.10 | ||||||||||||||
Net proceeds of the sale of the units | $ 116,150,000 |