| Dec'19 | Dec'18 | |||||
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||
Net income | ||||||
4,275 | 542 | |||||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||
Interest earned on investments held in Trust Account | ||||||
7,977 | 940 | |||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses | ||||||
46 | 92 | |||||
Prepaid income taxes | ||||||
107 | - | |||||
Accounts payable and accrued expenses | ||||||
131 | 110 | |||||
Income taxes payable | ||||||
-182 | 182 | |||||
Net cash used in operating activities | ||||||
-3,907 | -197 | |||||
Cash Flows from Investing Activities: | ||||||
Cash withdrawn from Trust Account to pay franchise taxes | ||||||
2,057 | - | |||||
Investment of cash into Trust Account | ||||||
- | 345,000 | |||||
Net cash provided by investing activities | ||||||
2,057 | -345,000 | |||||
Cash Flows from Financing Activities: | ||||||
Proceeds from collection of stock subscription receivable from stockholder | ||||||
- | 25 | |||||
Proceeds from sale of Units, net of underwriting discounts paid | ||||||
- | 339,000 | |||||
Proceeds from sale of Placement Units | ||||||
- | 9,300 | |||||
Payment of offering costs | ||||||
- | 827 | |||||
Proceeds from promissory note - related parties | ||||||
- | 229 | |||||
Repayment of promissory note – related party | ||||||
- | 229 | |||||
Net cash provided by financing activities | ||||||
- | 347,497 | |||||
Net Change in Cash | ||||||
-1,849 | 2,300 | |||||
Supplemental cash flow information: | ||||||
Cash paid for income taxes | ||||||
1,926 | - | |||||
Non-Cash investing and financing activities: | ||||||
Initial classification of common stock subject to possible redemption | ||||||
- | 327,792 | |||||
Change in value of common stock subject to possible redemption | ||||||
4,275 | 547 | |||||
Deferred underwriting fee payable | ||||||
- | 14,700 | |||||