Quarterly report pursuant to Section 13 or 15(d)

Condensed Interim Consolidated Balance Sheets

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Condensed Interim Consolidated Balance Sheets - USD ($)
Feb. 28, 2018
Nov. 30, 2017
Current assets    
Cash $ 161,771 $ 117,205
Prepaid expenses 2,308 16,869
Total current assets 164,079 134,074
Cash and investments held in the Trust Account 71,601,861 71,215,856
Total assets 71,765,940 71,349,930
Current liabilities    
Accounts payable 538,408 124,931
Accrued liabilities 10,500 12,500
Unsecured promissory notes - related parties 771,400 604,300
Unsecured promissory note - Phunware 201,268
Total current liabilities 1,521,576 741,731
Non-current liabilities    
Deferred underwriting fees 1,725,153 1,725,153
Total non-current liabilities 1,725,153 1,725,153
Total Liabilities 3,246,729 2,466,884
Common stock subject to possible redemption: 6,122,333 and 6,192,221 shares on February 28, 2018 and November 30, 2017, respectively (at a redemption value of approximately $10.38 and $10.32, respectively) 63,519,205 63,883,039
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, 2,887,844 and 2,817,956 shares issued and outstanding on February 28, 2018 and November 30, 2017, respectively (6,122,333 and 6,192,221 shares on February 28, 2018 and November 30, 2017, respectively subject to redemption) 289 282
Additional paid-in capital 5,761,014 5,397,188
Accumulated deficit (761,298) (397,463)
Total shareholders' equity 5,000,005 5,000,007
Total liabilities and shareholders' equity $ 71,765,940 $ 71,349,930