DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details Narrative) - USD ($) |
6 Months Ended | |
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Dec. 18, 2018 |
Dec. 31, 2018 |
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Proceeds from private placement | $ 1,160,000 | |
Transaction costs amounted | 783,566 | |
Underwriting fees | 500,000 | |
Offering costs | 283,566 | |
Cash held outside of Trust Account | 896,729 | |
Minimum net tangible assets to required business combination | $ 5,000,001 | |
Redemption price per share (in dollars per share) | $ 10.00 | |
Initial Public Offering [Member] | ||
Number of shares issued in transaction | 7,000,000 | |
Price per share (in dollars per share) | $ 10.00 | |
Gross proceeds | $ 70,000,000 | |
Private Placement [Member] | Mountain Wood, LLC [Member] | Chardan Investments, LLC (the "Sponsor") [Member] | ||
Number of shares issued in transaction | 2,900,000 | |
Price per share (in dollars per share) | $ 0.40 | |
Proceeds from private placement | $ 1,160,000 |
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- Definition The amunt of cash held outside trust account. No definition available.
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- Definition Represent the amount of intial offering cost. No definition available.
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- Definition Represent the amount of minimum net tangible assets to required business combination. No definition available.
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- Definition Costs incurred during the period, such as those relating to general administration and policy maintenance that do not vary with and are not primarily related to the acquisition or renewal of insurance contracts. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Cash received on stock transaction after deduction of issuance costs. No definition available.
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- Definition The number of shares issued or sold by the subsidiary or equity method investee per stock transaction. No definition available.
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- Definition Per share amount received by subsidiary or equity investee for each share of common stock issued or sold in the stock transaction. No definition available.
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- Definition Amount to be paid per share that is classified as temporary equity by entity upon redemption. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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