7. Shareholders' Equity

9 Months Ended

Sep. 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 September 30, 2019 and December 31, 2018, 2,048,677 and 1,987,165 ordinary shares issued and outstanding excluding 3,916,323 and 3,977,835 shares are subject to possible conversion, respectively.

Accumulated Other Comprehensive Income

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

	Available-for-sale securities
Balance as of January 1, 2018	$	–
Other comprehensive income before reclassifications		123,950
Amounts reclassified from AOCI into interest income		–
Balance as of September 30, 2018	$	123,950

		Available-for-sale securities
Balance as of July 1, 2018	$	–
Other comprehensive income before reclassifications		123,950
Amounts reclassified from AOCI into interest income		–
Balance as of September 30, 2018	$	123,950

		Available-for-sale securities
Balance as of January 1, 2019	$	27,179
Other comprehensive income before reclassifications		808,605
Amounts reclassified from AOCI into interest income		(606,869	)
Balance as of September 30, 2019	$	228,915

		Available-for-sale securities
Balance as of July 1, 2019	$	246,264
Other comprehensive income before reclassifications		253,799
Amounts reclassified from AOCI into interest income		(271,148	)
Balance as of September 30, 2019	$	228,915