Condensed Interim Consolidated Balance Sheets - USD ($)
|
May 31, 2018 |
Nov. 30, 2017 |
| Current assets |
|
|
| Cash |
$ 84,062
|
$ 117,205
|
| Prepaid expenses |
32,247
|
16,869
|
| Total current assets |
116,309
|
134,074
|
| Cash and investments held in the Trust Account |
36,931,070
|
71,215,856
|
| Total assets |
37,047,379
|
71,349,930
|
| Current liabilities |
|
|
| Accounts payable |
472,012
|
124,931
|
| Accrued liabilities |
31,100
|
12,500
|
| Unsecured promissory notes - related parties |
833,482
|
604,300
|
| Unsecured promissory note - Phunware |
263,350
|
|
| Total current liabilities |
1,599,944
|
741,731
|
| Non-current liabilities |
|
|
| Deferred underwriting fees |
886,888
|
1,725,153
|
| Total non-current liabilities |
886,888
|
1,725,153
|
| Total Liabilities |
2,486,832
|
2,466,884
|
| Common stock subject to possible redemption: 2,839,629 and 6,192,221 shares on May 31, 2018 and November 30, 2017, respectively (at a redemption value of approximately $10.41 and $10.32 per share, respectively) |
29,560,539
|
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, 2,817,488 and 2,815,509 shares issued and outstanding on May 31, 2018 and November 30, 2017, respectively (2,839,629 and 6,192,221 shares on May 31, 2018 and November 30, 2017, respectively subject to possible redemption) |
282
|
282
|
| Additional paid-in capital |
5,769,955
|
5,397,188
|
| Accumulated deficit |
(770,229)
|
(397,463)
|
| Total shareholders' equity |
5,000,008
|
5,000,007
|
| Total liabilities and shareholders' equity |
$ 37,047,379
|
$ 71,349,930
|