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Investments Held in Trust
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Jun. 30, 2011
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| 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:
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