Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
12 Months Ended 24 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Operating Activities      
Net loss $ (1,086,138) $ (665,385)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Interest earned on cash and marketable securities held in Trust Account (2,527,542) (1,593,432)  
Interest receivable on cash and marketable securities held in Trust Account (120,528) (221,157)  
Change in operating assets and liabilities:      
Receivable from related party (717) (6,229)  
Prepaid expenses 98,977 (110,439)  
Accounts payable 1,327,142 64,581  
Payable to related party 123,421    
Accrued liabilities 367,160 772,840  
Other current liabilities (134,796) 221,865  
Net cash used in operating activities (1,953,021) (1,537,356)  
Investing Activities      
Investment of cash in Trust Account, net (2,397,500) (143,750,000)  
Interest income used to pay taxes 1,172,534 379,123  
Cash withdrawn from Trust Account 70,180,359 379,123 $ 1,551,657
Net cash provided by (used in) investing activities 68,955,393 (143,370,877)  
Financing Activities      
Proceeds from sale of Units, net of underwriting discounts paid   141,162,440  
Proceeds from sale of Private Placement Units   4,982,560  
Proceeds from the sale of Founder Shares   25,000  
Redemption of public shares (70,180,359)    
Notes payable to Founders 3,050,426 50,536  
Repayment of notes payable to Founders   (50,536)  
Payment of deferred offering costs   (664,499)  
Net cash provided by (used in) financing activities (67,129,933) 145,505,501  
Net change in cash and cash equivalents (127,561) 597,268  
Cash and cash equivalents, beginning of period 597,268    
Cash and cash equivalents, end of period 469,707 597,268 $ 469,707
Supplemental disclosure of noncash investing activities      
Change in value of common stock subject to possible redemption $ (1,086,145) $ (657,826)