XML 38 R28.htm IDEA: XBRL DOCUMENT v3.20.1
Commitments (Details) - USD ($)
8 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2019
Oct. 08, 2019
Commitments and Contingencies (Textual)      
Gross proceeds from offering $ 25,100  
Description of right of first refusal   The Company granted Chardan Capital Markets, LLC (“Chardan”), for a period of 15 months after the date of the consummation of a Business Combination, a right of first refusal to act as lead underwriters or minimally as a co-manager, with at least 30% of the economics; or, in the case of a three-handed deal 20% of the economics, for any and all future public and private equity and debt offerings.  
Ordinary Shares to be Issued   1,640,000  
Share Exchange Agreement, Description   (1) if Scienjoy’s net income before tax for the year ended December 31, 2019 is greater than or equal to either US$20,900,000 or RMB 140,000,000, the Sellers will be entitled to receive 3,000,000 ordinary shares of the Company; (2) if Scienjoy’s net income before tax for the year ended December 31, 2020 is greater than or equal to either US$28,300,000 or RMB 190,000,000, the Sellers will be entitled to receive 3,000,000 ordinary shares of the Company; and (3) if Scienjoy’s net income before tax for the year ended December 31, 2021 is greater than or equal to either US$35,000,000 or RMB 235,000,000, the Sellers will be entitled to receive 3,000,000 ordinary shares of the Company.  
Additional Share Exchange Agreement, Description   The Sellers will receive (i) 3,000,000 earnout shares if the share price of the Company is higher than $15.00 for any sixty days in any period of ninety consecutive trading days during an twelve month period following the closing; (ii) 3,000,000 earnout shares if the share price of the Company is higher than $20.00 for any sixty days in any period of ninety consecutive trading days between the 13th month and 24th month following the Closing, and (iii) 3,000,000 earnout shares if the share price of the Company is higher than $25.00 for any sixty days in any period of ninety consecutive trading between the 25th month and 36th month following the Closing.  
Underwriters [Member]      
Commitments and Contingencies (Textual)      
Deferred fee, percentage   3.50%  
Scienjoy [Member]      
Commitments and Contingencies (Textual)      
Percentage Of Membership Interest Acquired     100.00%
Ordinary Shares     16,400,000