Annual report pursuant to Section 13 and 15(d)

Condensed Interim Statement of Cash Flows

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Condensed Interim Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities:    
Net income $ 1,771,836 $ 592,850
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Deferred tax liabilities 128,105
Interest earned on investments and marketable securities held in Trust Account (3,473,528) (1,687,599)
Changes in operating assets and liabilities:    
Prepaid expenses (260,863) (43,214)
Accounts payable 13,224 14,032
Accrued expenses 24,110 (7,100)
Franchise tax payable (160,000) 200,000
Net cash used in operating activities (1,957,116) (931,031)
Cash Flows from Investing Activities    
Principal deposited in Trust Account (158,355,000)
Interest released from Trust Account 1,171,717 324,501
Net cash provided by (used in) investing activities 1,171,717 (158,030,499)
Cash Flows from Financing Activities:    
Proceeds from note payable to related parties 750,000 260,000
Repayment of note payable to related parties (460,000)
Proceeds received from initial public offering 155,250,000
Offering costs (3,671,204)
Proceeds received from private placement 7,760,000
Net cash provided by financing activities 750,000 159,138,796
Net (decrease) increase in cash (35,399) 177,266
Cash and cash equivalents - beginning of the period 196,804 19,538
Cash and cash equivalents - end of the period 161,405 196,804
Supplemental disclosure of noncash investing and financing activities:    
Offering costs included in accounts payable 67,142
Deferred underwriting commissions in connection with the initial public offering 5,433,750
Reclassification of deferred offering costs to paid-in capital 178,283
Change in value of Class A common stock subject to possible redemption 1,771,832 149,209,569
Supplemental cash flow disclosure:    
Cash paid for income taxes $ 811,467