INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

The income tax provision consists of the following:

	Year Ended December 31, 2017
Federal
Current	$	436,721
Deferred		(216,951	)

State
Current	$	—
Deferred		—
Change in valuation allowance		216,951
Income tax provision	$	436,721

Reconciliation of Federal Income Tax Rate to Effective Tax Rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate at December 31, 2017 is as follows:

	Year Ended December 31, 2017
Statutory federal income tax rate		34.0	%
State taxes, net of federal tax benefit		0.0	%
Deferred tax rate change		53.4	%
Change in valuation allowance		86.3	%
Income tax provision		173.7	%

Deferred Tax Assets (Liabilities)

The Company’s net deferred tax assets are as follows:

	December 31, 2017
Deferred tax asset
Organizational costs/Startup expenses	$	216,951
Total deferred tax assets		216,951
Valuation allowance		(216,951	)
Deferred tax asset, net of allowance	$	—

Intermex Holdings, Inc. and Subsidiaries [Member]

INCOME TAXES [Abstract]

Provision for Income Taxes

The provision for income taxes consists of the following:

	Successor Company			Predecessor Company
	Period from February 1, 2017 to December 31, 2017			Period from January 1, 2017 to January 31, 2017			Year Ended December 31, 2016			Year Ended December 31, 2015
							(as Restated)			(as Restated)
Current tax provision:
Foreign	$	164,126		$	10,977		$	184,058		$	143,954
Federal		329			1			180,654			76,204
Total Current		164,455			10,978			364,712			220,158

Deferred tax provision (benefit):
Federal		595,682			(1,791,686	)		4,537,301			3,492,740
State		(225,735	)		(422,665	)		(818,358	)		478,745
Total deferred		369,947			(2,214,351	)		3,718,943			3,971,485
Total tax provision (benefit)	$	534,402		$	(2,203,373	)	$	4,083,655		$	4,191,643

Reconciliation of Federal Income Tax Rate to Effective Tax Rate

A reconciliation between the tax provision (benefit) at the US statutory tax rate to the Company’s tax provision (benefit) on the consolidated statements of operations and comprehensive (loss) income is below:

	Successor Company			Predecessor Company
	Period from February 1, 2017 to December 31, 2017			Period from January 1, 2017 to January 31, 2017			Year Ended December 31, 2016			Year Ended December 31, 2015
							(as Restated)			(as Restated)
(Loss) income before income taxes	$	(9,639,051	)	$	(5,521,794	)	$	13,483,681		$	9,949,467
US statutory tax rate		34	%		34	%		34	%		34	%
Income tax (benefit) expense at statutory rate		(3,277,277	)		(1,877,410	)		4,584,452			3,382,819

State tax expense (benefit), net of federal		(182,027	)		(278,657	)		574,478			338,818
Foreign tax rates different from US statutory rate		94,688			(45,631	)		124,107			50,267
Non-deductible expenses		3,309,549			409			(58,494	)		6,772
Change in tax rate		604,153			—			(1,070,363	)		405,866
Other		(14,684	)		(2,084	)		(70,525	)		7,101
Total tax provision (benefit)	$	534,402		$	(2,203,373	)	$	4,083,655		$	4,191,643

Deferred Tax Assets (Liabilities)

The tax effect of temporary differences, which give rise to deferred tax assets and deferred tax liabilities at December 31 is as follows:

	Successor Company 2017			Predecessor Company 2016
Deferred tax assets:
Net operating losses	$	10,582,599		$	14,793,711
Allowance for doubtful accounts		211,926			239,789
Deferred rent		—			15,553
Intangibles		—			11,499,513
Transaction costs		532,651			770,220
Alternative minimum tax credit		272,186			271,937
Depreciation		—			141,021
Other		72,321			126,621
Total deferred tax assets		11,671,683			27,858,365

Deferred tax liabilities:
Depreciation		(500,343	)		—
Intangibles		(9,422,486	)		—
Other		—			(42,253	)
Total deferred tax liabilities		(9,922,829	)		(42,253	)
Net deferred tax (liability) asset	$	1,748,854		$	27,816,112