Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Statement of Cash Flows [Abstract]    
Net income (loss) $ (2,230,000) $ 1,533,000
Adjustments to reconcile net income to net cash used in operating activities:    
Interest income earned on Trust Account (1,057,000) (5,154,000)
Changes in operating assets and liabilities:    
Increase in accounts payable and accrued expenses 2,185,000 1,093,000
Decrease in accrued franchise and income taxes (8,000) (195,000)
Increase in prepaid expenses and other assets (58,000) (52,000)
Net cash used in operating activities (1,168,000) (2,775,000)
Cash flows from investing activities -    
Withdrawal from Trust Account for redemption of Class A 242,423,000
Deposit into Trust Account (3,517,000)
Withdrawal from Trust Account for taxes and working capital 875,000 2,335,000
Net cash provided by investing activities 239,781,000 2,335,000
Cash flows from financing activities –    
Redemptions of Class A common stock common stock (242,423,000)
Proceeds from related party loans 3,617,000
Net cash used in financing activities (238,806,000)
Net (decrease) increase in cash (193,000) (440,000)
Cash at beginning of period 568,000 1,180,000
Cash at end of period 375,000 740,000
Supplemental disclosure of non-cash financing activities:    
Cash paid for income taxes 215,000 1,197,000
Change in value of common stock subject to possible redemption (240,153,000) 1,533,000
Change in common stock subject to redemption $ 4,500,000