Quarterly report pursuant to sections 13 or 15(d)

Investments Held in Trust

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Investments Held in Trust
6 Months Ended
Jun. 30, 2011
Investments Held In Trust [Abstract]  
Investments Held In Trust [Text Block]
Note 4 — Investments Held in Trust
 
A total of $50,250,000, which includes $47,275,000 of the net proceeds from the Public Offering and $2,975,000 from the private placement, was placed in the Trust Account.
 
As of June 30, 2011, investment securities in the Company’s Trust Account consist of $50,249,801 in U.S. government treasury bills with a maturity of September 1, 2011 and another $199 of cash. The carrying amount, excluding accrued interest income, gross unrealized holding gains and fair value of held-to-maturity securities at June 30, 2011 are as follows:
         
Gross
       
         
Unrealized
       
   
Carrying
   
Holding
       
   
Amount
   
Gains
   
Fair Value
 
Cash
  $ 199     $       $ 199  
Held-to-Maturity:
                       
United States Treasury Securities
    50,249,801       -       50,249,801  
Total Investments Held in Trust
  $ 50,250,000     $ -     $ 50,250,000