Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Sep. 30, 2019
Sep. 30, 2018
Current assets    
Cash $ 469,707 $ 597,268
Receivable from related party 6,946 6,229
Prepaid expenses 11,462 110,439
Total current assets 488,115 713,936
Cash and marketable securities held in Trust Account 78,757,615 144,964,309
Interest receivable on cash and marketable securities held in Trust Account 120,528 221,157
TOTAL ASSETS 79,366,258 145,899,402
Current liabilities    
Accounts payable 1,391,723 64,581
Payable to related party 123,421  
Notes payable to Founders 3,050,426  
Accrued liabilities 1,140,000 772,840
Other current liabilities 87,069 221,865
Total current liabilities 5,792,639 1,059,286
Commitments and contingencies (Note 5)
Common stock subject to possible redemption, 7,182,567 and 14,309,217 shares as of September 30, 2019 and 2018, respectively, at a redemption value of $10.00 per share 68,573,611 139,840,115
Stockholders’ equity    
Preferred stock, par value of $0.0001 per share; 1,000,000 shares authorized; none issued or outstanding
Common stock, par value of $0.0001 per share; 100,000,000 shares authorized; 4,453,975 and 4,152,789 shares issued and outstanding as of September 30, 2019 and 2018, respectively (excluding 7,182,567 and 14,309,217 shares subject to possible redemption as of September 30, 2019 and 2018, respectively) 445 415
Additional paid-in capital 6,751,086 5,664,971
Accumulated deficit (1,751,523) (665,385)
Total stockholders’ equity 5,000,008 5,000,001
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 79,366,258 $ 145,899,402