| Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | ||
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||
Net income (loss) | ||||||
86,378 | -61,301 | -76,218 | 118,786 | -11,224 | ||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||
Interest income | ||||||
347,228 | 322,654 | 266,082 | 226,001 | 144,908 | ||
Unrealized loss on marketable securities held in Trust Account | ||||||
-9,167 | -1,124 | 5,256 | 42,673 | -54,508 | ||
Deferred tax provision | ||||||
-307 | - | - | - | - | ||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses | ||||||
-16,496 | -38,973 | -31,046 | 15,636 | 70,879 | ||
Accounts payable and accrued expenses | ||||||
-39,297 | 85,427 | 149,702 | 44,763 | 33,749 | ||
Income taxes payable | ||||||
37,105 | 15,703 | 33,056 | 13,620 | 14,972 | ||
Net cash used in operating activities | ||||||
-237,686 | -244,346 | -133,752 | -107,141 | -123,782 | ||
Cash Flows from Investing Activities: | ||||||
Cash withdrawn from Trust Account | ||||||
60,050 | - | - | - | - | ||
Investment of cash in Trust Account | ||||||
- | 0 | 0 | 0 | 57,500,000 | ||
Net cash used in investing activities | ||||||
60,050 | 0 | 0 | 0 | -57,500,000 | ||
Cash Flows from Financing Activities: | ||||||
Proceeds from sale of Units, net of underwriting discounts paid | ||||||
- | 0 | 0 | 0 | 56,062,500 | ||
Sale of 243,750 Founder Units | ||||||
- | 0 | 0 | 0 | 2,437,500 | ||
Sale of Unit Purchase Option | ||||||
- | 0 | 0 | 0 | 100 | ||
Proceeds from promissory note - related party | ||||||
180,000 | - | - | - | - | ||
Advances from related party | ||||||
- | 0 | 0 | 0 | 45,000 | ||
Repayment of advances from related party | ||||||
- | 0 | 0 | 0 | 175,000 | ||
Payment of offering costs | ||||||
- | 0 | 0 | 0 | -281,807 | ||
Net cash provided by financing activities | ||||||
180,000 | 0 | 0 | 0 | 58,088,293 | ||
Net Change in Cash | ||||||
2,364 | -244,346 | -133,752 | -107,141 | 464,511 | ||
Non-Cash Investing and Financing activities: | ||||||
Initial classification of common stock subject to possible redemption | ||||||
- | 0 | 11,201 | -11,201 | 53,112,740 | ||
Change in value of common stock subject to possible redemption | ||||||
86,376 | -61,298 | -87,415 | 129,978 | -11,201 | ||