OVER-ALLOTMENT OPTION EXERCISED

9 Months Ended

Sep. 30, 2015

Over Allotment Option Exercised [Abstract]

Over Allotment Option Exercised [Text Block]

4. OVER-ALLOTMENT OPTION EXERCISED

The Company announced on October 28, 2013 that the over-allotment option for its initial Public Offering was exercised and consummated to the full extent of 900,000 shares. The 6,900,000 Public Shares sold in the offering, including the 900,000 Public Shares sold pursuant to the over-allotment option, were sold at an offering price of $10.00 per share, generating gross proceeds of $69,000,000 to the Company.