Quarterly report pursuant to sections 13 or 15(d)

Condensed Balance Sheets

v2.4.0.6
Condensed Balance Sheets (USD $)
Sep. 30, 2012
Dec. 31, 2011
ASSETS    
Cash $ 131,208 $ 134,028
Investments held in trust at amortized cost 50,267,002 50,255,577
Advances to Affiliate 0 382,830
Prepaid expenses 96,875 100,844
Total assets 50,495,085 50,873,279
LIABILITIES AND SHAREHOLDERS' EQUITY    
Accrued expenses 29,017 11,500
Deferred underwriter's fee 2,250,000 2,250,000
Due to shareholders 75,343 206
Total current liabilities: 2,354,360 2,261,706
Warrant liability 2,152,000 4,483,334
Total liabilities 4,506,360 6,745,040
Maximum ordinary shares, subject to possible redemption 4,078,480 and 3,893,357 shares stated at conversion value, respectively 40,988,724 39,128,238
Shareholders' equity:    
Ordinary shares, $.001 par value Authorized 60,000,000 shares; 6,250,000 and 6,250,000 shares issued and outstanding, respectively 2,172 2,359
Additional paid-in capital 3,292,978 5,153,277
Retained earnings (Deficit) accumulated during the development stage 1,704,851 (155,635)
Total shareholders' equity 5,000,001 5,000,001
Total liabilities and shareholders' equity $ 50,495,085 $ 50,873,279