Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 546,636 $ 270,884
Prepaid income taxes 25,633
Prepaid expenses 51,790
Total current assets 624,059 270,884
Cash and marketable securities held in Trust Account 11,877,654 118,165,948
Total Assets 12,501,713 118,436,832
Current liabilities:    
Accounts payable and accrued expenses 268,423 94,720
Franchise and income taxes payable 82,317
Convertible promissory note - related party 366,346
Due to related party 795,003 369,030
Advances due - 180 1,699,825
Total current liabilities 3,129,597 546,067
Deferred underwriting fees 4,025,000 4,025,000
Total Liabilities 7,154,597 4,571,067
Commitments
Common stock subject to possible redemption, $0.0001 par value; 33,618 and 10,778,788 shares as of December 31, 2019 and 2018, respectively (at approximately $10.33 and $10.10 per share) 347,106 108,865,759
Stockholders' Equity:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; no shares issued and outstanding as of December 31, 2019 and 2018
Common stock, $0.0001 par value; 35,000,000 shares authorized; 4,458,149 and 4,098,712 shares issued and outstanding (excluding 33,618 and 10,778,788 shares subject to possible redemption, respectively) as of December 31, 2019 and 2018, respectively 446 410
Additional paid-in capital 3,929,663 3,838,395
Retained earnings 1,069,901 1,161,201
Total Stockholders' Equity 5,000,010 5,000,006
Total Liabilities and Stockholders' Equity $ 12,501,713 $ 118,436,832