Cash and Investments Held in Trust Account

6 Months Ended

Jun. 30, 2020

Cash And Investment Held In Trust Account [Abstract]

Cash and Investments Held in Trust Account

Note 7 — Cash and Investments Held in Trust Account 

As of June 30, 2020, assets held in the Trust Account were comprised of $14,993,648 in money market funds which are invested in U.S. Treasury Securities. As of December 31, 2019, investments in the Company’s Trust Account consisted of $1,187,964 in United States Money Market funds and $117,857,363 in U.S. Treasury Securities, respectively. 

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at June 30, 2020 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

Description	Level		June 30, 2020
Assets:
Trust Account – U.S. Treasury Securities Money Market Fund		1	$	14,993,648

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 on the accompanying balance sheets and adjusted for the amortization or accretion of premiums or discounts.

The gross holding gains and fair value of held-to-maturity securities at December 31, 2019 are as follows:

	Amortized Cost		Gross Holding Gain		Fair Value
December 31, 2019
U.S. Money Market	$	1,187,964	$	—	$	1,187,964
U.S. Treasury Securities		117,857,363		41,157		117,898,520
	$	119,045,327	$	41,157	$	119,086,484