Quarterly report pursuant to Section 13 or 15(d)

Condensed Interim Statement of Cash Flows (Unaudited)

v3.20.2
Condensed Interim Statement of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (199,929) $ 989,453
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Deferred tax liabilities (128,105) 202,359
Interest earned on investments and marketable securities held in Trust Account (683,966) (1,899,719)
Changes in operating assets and liabilities:    
Prepaid expenses 256,140 (239,355)
Accounts payable 330,136 34,980
Accrued expenses (14,610) 3,179
Franchise tax payable (19,950) (180,000)
Income tax payable 122,229 0
Net cash used in operating activities (338,055) (1,089,103)
Cash Flows from Investing Activities    
Cash deposited in Trust Account (662,934) 0
Withdrawal from trust upon redemption of Class A common stock 21,869,039 0
Interest released from Trust Account 248,550 671,717
Net cash provided by investing activities 21,454,655 671,717
Cash Flows from Financing Activities:    
Proceeds from note payable to related parties 750,000 400,000
Redemption of Class A common stock (21,869,039) 0
Net cash (used in) provided by financing activities (21,119,039) 400,000
Net decrease in cash and cash equivalents (2,439) (17,386)
Cash and cash equivalents - beginning of the period 161,405 196,804
Cash and cash equivalents - end of the period 158,966 179,418
Supplemental disclosure of noncash investing and financing activities:    
Change in value of Class A common stock subject to possible redemption (199,929) 989,449
Supplemental cash flow disclosure:    
Cash paid for income taxes $ 128,500 $ 391,467