Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.2
Consolidated Statements of Cash Flows - USD ($)
 8 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net income (loss) $ (1,025) $ 347,407
Adjustments to reconcile net income (loss) to net cash and cash equivalents used in operating activities:    
Interest earned on marketable securities held in Trust Account (886,972)
Unrealized loss on marketable securities held in Trust Account 5,821
Deferred tax benefit   (1,222)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (39,624)
Accounts payable and accrued expenses 1,000 233,592
Income taxes payable 136,419
Net cash and cash equivalents used in operating activities (25) (204,579)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account (70,000,000)
Net cash and cash equivalents used in investing activities (70,000,000)
Cash Flows from Financing Activities:    
Proceeds from issuance of Founder Shares to Sponsor 25,000
Proceeds from sale of Units, net of underwriting discounts paid 69,500,000
Proceeds from sale of Private Placement Warrants 1,160,000
Proceeds from promissory notes - related party 40,000 565,500
Repayment of promissory notes - related party (105,500)
Payment of offering costs (64,545) (219,021)
Net cash and cash equivalents provided by financing activities 455 70,900,979
Net Change in Cash and Cash Equivalents 430 696,400
Cash and Cash Equivalents - Beginning 430
Cash and Cash Equivalents - Ending 430 696,830
Non-cash investing and financing activities:    
Initial classification of common stock subject to redemption 65,399,750
Change in value of common stock subject to redemption $ 348,063