Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.20.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities:    
Net income (loss) $ 1,762,447 $ (14,772)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Interest earned on marketable securities held in Trust Account (2,136,694)
Unrealized gain on marketable securities held in Trust Account (12,428)
Changes in operating assets and liabilities:    
Prepaid expenses (8,076)
Accounts payable and accrued expenses (4,352) 7,158
Net cash used in operating activities (399,103) (7,614)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account (108,000,000)
Net cash used in investing activities (108,000,000)
Cash Flows from Financing Activities:    
Proceeds from sale of Units, net of underwriting discounts paid 105,300,000
Proceeds from sale of Private Units 3,950,000
Advance from related party 9,041 72,239
Repayment of advances from related party (81,280)
Proceeds from promissory note - related party 12,112
Repayment of promissory note - related party (34,259)
Payment of offering costs (391,875) (76,737)
Net cash provided by financing activities 108,751,627 7,614
Net change in cash 352,524
Cash at beginning of period
Cash at end of period 352,524
Non-cash Investing and Financing Activities:    
Initial classification of ordinary shares subject to possible redemption 103,741,340
Change in value of ordinary shares subject to possible redemption 1,762,651
Offering costs included in accrued offering costs $ 43,700