7. Shareholders' Equity

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Shareholders' Equity

NOTE 7 – SHAREHOLDERS’ EQUITY

Preferred shares

The Company is authorized to issue 2,000,000 preferred shares at par $0.0001. There is no specific preferential right associated with this class of share at the time of this filing.

Ordinary shares

The Company is authorized to issue 100,000,000 ordinary shares at par $0.0001. Holders of the Company’s ordinary shares are entitled to one vote for each share.

On August 6, 2018, the Company issued 215,000 ordinary shares under the private placement of 215,000 private units at $10 per unit, to the Sponsor.

As of June 30, 2019 and December 31, 2018, 1,999,278 and 1,987,165 ordinary shares issued and outstanding excluding 3,965,722 and 3,977,835 shares are subject to possible conversion, respectively.

Accumulated Other Comprehensive Income (Loss)

The table below presents the changes in accumulated other comprehensive income (loss) (“AOCI”), including the reclassification out of AOCI.

	Available-for-sale securities
Balance as of January 1, 2018	$	–
Other comprehensive income before reclassifications		–
Amounts reclassified from AOCI into interest income		–
Net current period other comprehensive income		–
Balance as of March 31, 2018	–
Other comprehensive income before reclassifications	–
Amounts reclassified from AOCI into interest income	–
Net current period other comprehensive income	–
Balance as of June 30, 2018	$	–
	Available-for-sale securities
Balance as of January 1, 2019	$	27,179
Other comprehensive income before reclassifications		277,735
Amounts reclassified from AOCI into interest income		–
Net current period other comprehensive income		277,735
Balance as of March 31, 2019		304,914
Other comprehensive income before reclassifications		277,071
Amounts reclassified from AOCI into interest income		(335,721	)
Net current period other comprehensive income		(58,650	)
Balance as of June 30, 2019	$	246,264