Quarterly report pursuant to sections 13 or 15(d)

Condensed Balance Sheets

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Condensed Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash $ 971,055 $ 167,374
Investments held in trust at amortized cost 50,250,000 0
Prepaid expenses 0 1,098
Deferred offering costs 0 110,392
Total assets 51,221,055 278,864
LIABILITIES AND SHAREHOLDERS' EQUITY    
Accrued expenses 151,982 64,906
Deferred underwriter's fee 2,250,000 0
Shareholder loan 0 192,261
Due to shareholders 206 206
Total liabilities 2,402,188 257,373
Maximum ordinary shares, subject to possible redemption 4,360,086 and 0 shares stated at conversion value, respectively 43,818,866 0
Shareholders' equity:    
Ordinary shares, $.001 par value Authorized 60,000,000 shares; 6,437,500 and 1,955,000 shares issued and outstanding respectively 2,077 1,955
Additional paid-in capital 5,114,017 42,945
Deficit accumulated during the development stage (116,093) (23,409)
Total shareholders' equity 5,000,001 21,491
Total liabilities and shareholders' equity $ 51,221,055 $ 278,864