Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Statement of Cash Flows [Abstract]    
Net income $ (1,182,000) $ 1,480,000
Adjustments to reconcile net income to net cash used in operating activities:    
Interest income earned on Trust Account (1,041,000) (3,566,000)
Changes in operating assets and liabilities:    
Increase in accounts payable and accrued expenses 1,473,000 618,000
Decrease in accrued franchise and income taxes (8,000) (205,000)
Increase in prepaid expenses, rounding and other (32,000) (32,000)
Net cash used in operating activities (790,000) (1,705,000)
Cash flows from investing activities -    
Redemptions of Class A common stock 242,423,000  
Deposit a portion of Note Payable in Trust Account (3,517,000)
Withdrawal from Trust Account for taxes and working capital 685,000 1,910,000
Net cash provided by investing activities 239,591,000 1,910,000
Cash flows from financing activities –    
Withdrawal from Trust Account for redemption of Class A common stock (242,423,000)
Proceeds from Notes payable 3,617,000
Net cash used in financing activities (238,806,000)
Net (decrease) increase in cash (5,000) 205,000
Cash at beginning of period 568,000 1,180,000
Cash at end of period 563,000 1,385,000
Supplemental disclosure of non-cash financing activities:    
Cash paid for income taxes 190,000 812,000
Change in value of common stock subject to possible redemption $ 244,000 $ 1,480,000