Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (4,413,245) $ 198,975
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Interest income earned on investments held in Trust Account (38,704) (1,203,538)
Amortization on debt discount 1,658,866
Loss on issuance of convertible promissory notes 1,657,522
Change in fair value of the derivative liability (19,177)
Changes in operating assets and liabilities:    
Prepaid income taxes (29,127)
Prepaid expenses 9,125 (35,840)
Accounts payable and accrued expenses 89,845 (8,358)
Franchise and income taxes payable (82,317)
Net cash and restricted cash used in operating activities (1,055,768) (1,160,205)
Cash Flows from Investing Activities:    
Cash withdrawn from Trust Account for redemptions 1,889,579 69,305,537
Investment of cash in Trust Account (276,448) (431,164)
Interest income released from Trust Account to pay taxes 396,885
Net cash and restricted cash provided by investing activities 1,613,131 69,271,258
Cash Flows from Financing Activities:    
Proceeds from convertible promissory note from related party 254,359
Advances from related party 742,405
Repayment of advances from related party (100,000)
Advances from 180 9,990 942,870
Repayment of advances from 180 (1,042,500)
Proceeds from convertible promissory note - related party 33,877
Repayment of convertible promissory note - related party (312,922) (80,000)
Proceeds from convertible promissory notes 2,750,000
Redemptions of common stock (1,889,579) (69,305,537)
Net cash and restricted cash used in financing activities (451,134) (67,545,903)
Net Change in Cash and Restricted Cash 106,229 565,150
Cash and Restricted Cash - Beginning of period 546,636 270,884
Cash and Restricted Cash - Ending of period 473,851 836,034
Supplementary cash flow information:    
Cash paid for income taxes 261,165
Non-cash investing and financing activities:    
Change in value of common stock subject to possible redemption 3,564,178 198,973
Waiver of deferred underwriting fee 4,025,000
Initial classification of derivative liability in connection with issuance of convertible promissory note 275,847
Original issue discount in connection with issuance of convertible promissory note 305,556
Issuance of commitment shares and leak-out shares in connection with convertible promissory note 3,952,423
Conversion of advances and promissory notes to convertible promissory notes 314,509
Transfer of convertible notes owed to the Sponsor to promissory note owed to Tyche Capital LLC 650,000
Contribution of Initial Loan to Trust Account by Sponsor $ 573,433