Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 257,601 $ 546,636
Restricted cash 787,865
Prepaid income taxes 21,806 25,633
Prepaid expenses 118,645 51,790
Total current assets 1,185,917 624,059
Other assets 163,797
Marketable securities held in Trust Account 11,276,350 11,877,654
Total Assets 12,626,064 12,501,713
Current liabilities:    
Accounts payable and accrued expenses 339,497 268,423
March promissory note - related party 337,301 366,346
Due to related party 795,003 795,003
Advances due - 180 1,379,815 1,699,825
Convertible promissory notes, net of debt discount 431,745
Derivative liability 214,188
Total current liabilities 3,497,549 3,129,597
Deferred underwriting fees 4,025,000
Total Liabilities 3,497,549 7,154,597
Common stock subject to possible redemption, $0.0001 par value; 396,781 and 33,618 shares as of June 30, 2020 and December 31, 2019, respectively (at approximately $10.41 and $10.33 per share) 4,128,507 347,106
Stockholders' Equity:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding as of June 30, 2020 and December 31, 2019
Common stock, $0.0001 par value; 35,000,000 shares authorized; 5,077,321 and 4,458,149 shares issued and outstanding (excluding 396,781 and 33,618 shares subject to possible redemption, respectively) as of June 30, 2020 and December 31, 2019, respectively 508 446
Additional paid-in capital 6,458,398 3,929,663
(Accumulated deficit)/Retained earnings (1,458,898) 1,069,901
Total Stockholders' Equity 5,000,008 5,000,010
Total Liabilities and Stockholders' Equity $ 12,626,064 $ 12,501,713