Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of net income (loss) available to each class of common stockholders
  Three months ended     Nine months ended  
    September 30,     September 30  
    2019     2018     2019     2018  
                         
Net income available to Class A common stockholders:                        
Interest income   $ 1,588,000       1,522,000     $ 5,154,000     $ 3,878,000  
Less:  Income and franchise taxes     (375,000 )     (380,000 )     (1,205,000 )     (915,000 )
Expenses available to be paid with interest income from Trust (up to a maximum of $750,000 per year)     -       (161,000 )     -       (619,000 )
Net income available to Class A common stockholders   $ 1,213,000     $ 981,000     $ 3,949,000     $ 2,344,000  

  

    Three months ended     Nine months ended  
    September 30,     September 30,  
    2019     2018     2019     2018  
                         
Net income available to Class F common stockholders:                        
Net income   $ 53,000     $ 981,000     $ 1,533,000     $ 2,344,000  
Less: amount attributable to Class A common stockholders     (1,213,000 )     (981,000 )     (3,949,000 )     (2,344,000 )
Net income (loss) available to class F common stockholders   $ (1,160,000 )   $ -     $ (2,416,000 )   $ -