INCOME TAX (Tables)

3 Months Ended

Mar. 31, 2021

INCOME TAX [Abstract]

Net Deferred Tax Assets

The Company’s net deferred tax assets are as follows:

	March 31, 2021			December 31, 2020
Deferred tax asset
Net operating loss carryforward	$	10,920		$	10,861
Change in fair value of warrants		753,532			—
Organizational costs/Startup expenses		456,120			78,848
Total deferred tax asset		1,220,572			89,709
Valuation allowance		(1,220,572	)		(89,709	)
Deferred tax asset, net of allowance	$	—		$	—

Income Tax Provision

The income tax provision consists of the following:

	March 31, 2021			December 31, 2020
Federal
Current	$	—		$	—
Deferred		(1,220,572	)		(89,709	)
State
Current	$	—		$	—
Deferred		—			—
Change in valuation allowance		1,220,572			89,709
Income tax provision	$	—		$	—

Reconciliation of Federal Income Tax Rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate at March 31, 2021 is as follows:

	March 31, 2021
Statutory federal income tax rate		21.0	%
State taxes, net of federal tax benefit		0.0	%
Change in fair value of warrant liability		-13.2	%
Change in valuation allowance		-7.8	%
Income tax provision		0.0	%