Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net income $ 215,725 $ 356,058
Adjustments to reconcile net income to net cash and cash equivalents used in operating activities:    
Interest earned on marketable securities held in Trust Account (622,821) (543,268)
Changes in operating assets and liabilities:    
Prepaid income taxes 99,451 0
Prepaid expenses (24,667) (148,629)
Accrued expenses (50,341) 49,549
Income taxes payable 0 103,268
Net cash and cash equivalents used in operating activities (382,653) (183,022)
Cash Flows from Investing Activities:    
Investment of cash in Trust Account 0 (174,225,000)
Cash withdrawn from Trust Account to pay franchise and income taxes 201,718 0
Net cash and cash equivalents provided by (used in) investing activities 201,718 (174,225,000)
Cash Flows from Financing Activities:    
Proceeds from sale of Units, net of underwriting discounts paid 0 169,050,000
Proceeds from sale of Private Units 0 7,175,000
Proceeds from promissory note - related party 0 70,000
Repayment of promissory note - related party 0 (220,000)
Payment of offering costs 0 (430,194)
Net cash and cash equivalents provided by financing activities 0 175,644,806
Net Change in Cash and Cash Equivalents (180,935) 1,236,784
Cash and cash equivalents - Beginning 319,399 41,093
Cash and cash equivalents - Ending 138,464 1,277,877
Supplemental cash flow information:    
Cash paid for income taxes 21,000 0
Non-cash investing and financing activities:    
Initial classification of common stock subject to possible redemption as of February 11, 2019, the date of the Initial Public Offering 0 170,685,445
Change in value of common stock subject to possible redemption $ 215,726 $ 356,055