Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Interim Statements of Cash Flows

v3.19.3
Unaudited Condensed Interim Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 1,466,643 $ 135,143
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Deferred tax liability 177,297
Interest earned on investments and marketable securities held in Trust Account (2,792,314) (806,552)
Changes in operating assets and liabilities:    
Prepaid expenses (236,433) (233,733)
Accounts payable 14,356 (26,750)
Accrued expenses 2,500 134,639
Franchise tax payable (170,000) 137,727
Net cash used in operating activities (1,537,951) (659,526)
Cash Flows from Investing Activities    
Principal deposited in Trust Account (158,355,000)
Interest released from Trust Account 921,717 189,251
Net cash provided by (used in) investing activities 921,717 (158,165,749)
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 (3,616,518)
Proceeds received from private placement 7,760,000
Net cash provided by financing activities 750,000 159,193,482
Net increase in cash 133,766 368,207
Cash - beginning of the period 196,804 19,538
Cash - ending of the period 330,570 387,745
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 Class A common stock subject to possible redemption 1,466,645 148,751,862
Supplemental cash flow disclosure:    
Cash paid for income taxes $ 601,467