|
BALANCE SHEETS (USD $)
|
Jun. 30, 2012
|
Dec. 31, 2011
|
| ASSETS |
|
|
| Cash |
$ 76,726 |
$ 348,373 |
| Prepaid Expense |
33,880 |
18,622 |
| Total Current Assets |
110,606 |
366,995 |
| Noncurrent Assets: |
|
|
| Investments Held in Trust |
80,021,538 |
80,037,977 |
| Total Assets |
80,132,144 |
80,404,972 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
| Accounts Payable and Accrued Expenses |
629,957 |
176,285 |
| Other Liabilities: |
|
|
| Deferred Underwriter's Fee |
2,000,000 |
2,000,000 |
| Total Liabilities |
2,629,957 |
2,176,285 |
| Commitments and Contingencies |
|
|
| Common Stock, subject to possible redemption: 7,250,219 and 7,322,869 shares (at redemption value) as of June 30, 2012 and December 31, 2011, respectively. |
72,502,186 |
73,228,686 |
| Stockholders' Equity |
|
|
| Common Stock, $.0001 par value, 250,000,000 shares authorized; 2,273,591 and 2,200,941 shares issued and outstanding as of June 30, 2012 and December 31, 2011 (excluding 7,250,219 and 7,322,869 subject to possible redemption as of June 30, 2012 and December 31, 2011, respectively) |
227 |
220 |
| Additional Paid-in Capital |
6,088,779 |
5,362,286 |
| Deficit Accumulated during Development Stage |
(1,089,005) |
(362,505) |
| Total Stockholders' Equity |
5,000,001 |
5,000,001 |
| Total Liabilities and Stockholders' Equity |
$ 80,132,144 |
$ 80,404,972 |