Post-effective amendment to a registration statement that is not immediately effective upon filing

STATEMENTS OF CASH FLOWS

v3.20.4
STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities:    
Net (loss) income $ (2,096,495) $ 1,771,836
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Deferred tax liabilities (128,105) 128,105
Interest earned on investments and marketable securities held in Trust Account (694,311) (3,473,528)
Changes in operating assets and liabilities:    
Prepaid expenses 302,479 (260,863)
Accounts payable 1,840,060 13,224
Accrued expenses (30,610) 24,110
Franchise tax payable 51 (160,000)
Net cash used in operating activities (806,931) (1,957,116)
Cash Flows from Investing Activities    
Cash deposited in Trust Account (1,469,038) 0
Withdrawal from Trust upon redemption of Class A common stock 54,007,462 (0)
Interest released from Trust Account 433,550 1,171,717
Net cash provided by investing activities 52,971,974 1,171,717
Cash Flows from Financing Activities:    
Proceeds from note payable to related parties 750,000 750,000
Proceeds from promissory note – related party 1,000,000 (0)
Redemption of Class A common stock (54,007,462) 0
Net cash (used in) provided by financing activities (52,257,462) 750,000
Net decrease in cash (92,419) (35,399)
Cash and cash equivalents - beginning of the period 161,405 196,804
Cash and cash equivalents - end of the period 68,986 161,405
Supplemental disclosure of noncash investing and financing activities:    
Change in Class A common stock subject to possible redemption (96,973,939) 1,771,832
Supplemental cash flow disclosure:    
Cash paid for income taxes $ 233,500 $ 811,467