Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.8.0.1
Balance Sheets - USD ($)
Nov. 30, 2017
Nov. 30, 2016
Current assets    
Cash on hand and in Bank $ 117,205 $ 490,888
Prepaid expenses 16,869 32,219
Total current assets 134,074 523,107
Cash and investments held in the Trust Account 71,215,856 70,442,615
Total assets 71,349,930 70,965,722
Current liabilities    
Accounts payable 124,931 24,750
Accrued liabilities 12,500 25,500
Unsecured promissory notes - related parties 604,300
Total current liabilities 741,731 50,250
Non-current liabilities    
Deferred underwriting fees 1,725,153 1,725,153
Total non-current liabilities 1,725,153 1,725,153
Total Liabilities 2,466,884 1,775,403
Common stock subject to possible redemption: 6,192,221 and 6,293,168 shares on November 30, 2017 and November 30, 2016, respectively (at a redemption value of approximately $10.32 and $10.20, respectively) 63,883,039 64,190,314
Shareholders' Equity    
Preferred shares, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.0001 par value, 200,000,000 shares authorized, 2,817,956 and 2,717,009 shares issued and outstanding on November 30, 2017 and November 30, 2016, respectively (excluding 6,192,221 and 6,293,168 shares on November 30, 2017 and November 30, 2016, respectively subject to redemption) 282 272
Additional paid-in capital 5,397,188 5,089,922
Accumulated deficit (397,463) (90,189)
Total shareholders' equity 5,000,007 5,000,005
Total liabilities and shareholders' equity $ 71,349,930 $ 70,965,722