Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (217,411) $ 231,595
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Interest income earned on investments held in Trust Account (35,488) (592,314)
Changes in operating assets and liabilities:    
Prepaid income taxes 5,307
Prepaid expenses (32,375) (10,058)
Accounts payable and accrued expenses 78,750 11,076
Franchise and income taxes payable 52,553
Net cash used in operating activities (201,217) (307,148)
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account for redemptions 52,829,304
Investment of cash in Trust Account (66,857)
Interest income released from Trust Account to pay taxes 175,642
Net cash (used in) provided by investing activities (66,857) 53,004,946
Cash Flows from Financing Activities:    
Proceeds from convertible promissory note from related party 49,771
Advances from related party 45,479
Repayment of advances from related party (100,000)
Proceeds from convertible promissory note 33,877
Repayment of convertible promissory note (29,045)
Redemptions of common stock (52,829,304)
Net cash provided by (used in) financing activities 4,832 (52,834,054)
Net Change in Cash (263,242) (136,256)
Cash - Beginning of period 546,636 270,884
Cash - Ending of period 283,394 134,628
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 (217,408) 231,597
Conversion of advances and promissory notes to convertible promissory notes 314,509
Contribution of Initial Loan to Trust Account by Sponsor $ 573,433