Cash and Investment Held in Trust Account

11 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Cash and Investment Held in Trust Account

Note 6 — Cash and Investment Held in Trust Account

As of December 31, 2018, investment in the Company's Trust Account consisted of $31,335 in United States Money Market and $ 114,848,797 in U.S. Treasury Securities. The Company classifies its United States Treasury and equivalent securities as held-to-maturity in accordance with FASB ASC 320 "Investments — Debt and Equity Securities". Held-to-maturity treasury securities are recorded at amortized cost and adjusted for the amortization or accretion of premiums or discounts.

The Company considers all investments with original maturities of more than three months but less than one year to be short-term investments. The carrying value approximates the fair value due to the short-term maturity. As of December 31, 2018, cash and cash equivalents held in Trust Account is $114,880,132. The carrying value, excluding gross unrealized holding loss and fair value of held to maturity securities on December 31, 2018 are as follows:

	Carrying Value as of December 31, 2018		Gross Unrealized Holding Gain		Fair Value as of December 31, 2018
U.S. Money Market	$	31,335	$	-	$	31,335
U.S. Treasury Securities		114,848,797		444,119		115,292,916
	$	114,880,132	$	444,119	$	115,324,251