Unaudited Condensed Interim Statements of Operations - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2019 |
Sep. 30, 2018 |
Sep. 30, 2019 |
Sep. 30, 2018 |
|
| General and administrative expenses | $ 191,047 | $ 193,715 | $ 623,164 | $ 385,065 |
| Franchise tax expense | 50,000 | 50,000 | 150,000 | 148,618 |
| Loss from operations | (241,047) | (243,715) | (773,164) | (533,683) |
| Interest earned on investments and marketable securities | 892,606 | 806,552 | 2,792,775 | 806,553 |
| Income before income tax expense | 651,559 | 562,837 | 2,019,611 | 272,870 |
| Income tax expense | 174,369 | 137,727 | 552,968 | 137,727 |
| Net income | $ 477,190 | $ 425,110 | $ 1,466,643 | $ 135,143 |
| Common Stock Class A | ||||
| Weighted average shares outstanding | 15,525,000 | 15,525,000 | 15,525,000 | 15,525,000 |
| Basic and diluted net income (loss) per share | $ 0.04 | $ 0.04 | $ 0.13 | $ 0.03 |
| Common Stock Class B | ||||
| Weighted average shares outstanding | 3,881,250 | 3,881,250 | 3,881,250 | 3,881,250 |
| Basic and diluted net income (loss) per share | $ (0.05) | $ (0.05) | $ (0.16) | $ (0.10) |
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- References No definition available.
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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