Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.20.1
Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash $ 352,254
Prepaid expenses 8,076
Total Current Assets 360,600
Deferred offering costs 156,276
Marketable securities held in Trust Account 110,149,122
TOTAL ASSETS 110,509,722 156,276
Current liabilities    
Accounts payable and accrued expenses 5,723 10,075
Accrued offering costs 43,700
Advance from related party 72,239
Promissory note - related party 34,259
Total Current Liabilities 5,723 160,273
Commitments (Note 6)
Ordinary shares subject to possible redemption, 10,344,550 shares at redemption value at December 31, 2019 105,503,991
Shareholders' Equity (Deficit)    
Preferred shares, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Ordinary shares, $0.0001 par value; 100,000,000 shares authorized; 3,550,450 and 2,875,000 shares issued and outstanding (excluding 10,344,550 and -0- shares subject to possible redemption) at December 31, 2019 and 2018, respectively [1] 355 287
Additional paid-in capital 3,266,203 24,713
Retained earnings (Accumulated deficit) 1,733,450 (28,997)
Total Shareholders' Equity (Deficit) 5,000,008 (3,997)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) $ 110,509,722 $ 156,276
[1] As of December 31, 2018, this amount included an aggregate of 375,000 shares that were subject to forfeiture to the extent that the underwriters' over-allotment option was not exercised in full. As a result of the underwriters' election to partially exercise their over-allotment option in January 2019, an aggregate of 200,000 shares were no longer subject to forfeiture and 175,000 shares were forfeited. The remaining over-allotment option expired unexercised on March 17, 2019 (see Note 7).