Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (447,824) $ 894,562
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Interest earned on marketable securities held in Trust Account (530,255) (1,063,178)
Unrealized gain on marketable securities held in Trust Account (382) (39,260)
Changes in operating assets and liabilities:    
Prepaid expenses (27,258) (97,477)
Accounts payable and accrued expenses 721,419 (2,702)
Net cash used in operating activities (284,300) (308,055)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account (108,000,000)
Cash withdrawn from Trust Account for working capital purposes 100,000
Net cash provided by (used in) investing activities 100,000 (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
Advances from related party 9,041
Repayment of advances from related party (81,280)
Repayment of promissory note – related party (34,259)
Payments of offering costs (391,875)
Net cash provided by financing activities 108,751,627
Net Change in Cash (184,300) 443,572
Cash – Beginning 352,524
Cash – Ending 168,224 443,572
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 $ (447,824) $ 894,767