Quarterly report pursuant to sections 13 or 15(d)

Condensed Statement of Cash Flows

v2.3.0.15
Condensed Statement of Cash Flows (USD $)
9 Months Ended 20 Months Ended
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2011
Cash flows from operating activities      
Net loss $ (20,062) $ (286,892) $ (310,301)
Interest expense on shareholder loan 8,847 7,739 19,900
Accrued expenses 5,359 (5,359) 0
Due to shareholders 206 0 206
Prepaid expenses 0 (88,902) (90,000)
Net cash used in operating activities (5,650) (373,414) (380,195)
Cash flows from investing activities      
Interest reinvested in the trust account 0 (3,008) (3,008)
Funds placed in trust account from the initial public offering 0 (50,250,000) (50,250,000)
Net cash used in investing activities 0 (50,253,008) (50,253,008)
Cash flows from financing activities      
Proceeds from sale of ordinary shares to founding Shareholders 25,000 0 25,000
Proceeds from initial public offering 0 50,000,000 50,000,000
Proceeds from private placement of insider warrants 0 2,975,000 2,975,000
Payment of underwriters fees and offering costs (48,158) (1,750,015) (1,800,860)
Proceeds from shareholder loan 200,000 0 200,000
Repayment of shareholder loan 0 (200,000) (200,000)
Net cash provided by financing activities 176,842 51,024,985 51,199,140
Net increase in cash 171,192 398,563 565,937
Cash at beginning of period 0 167,374 0
Cash at end of period 171,192 565,937 565,937
Supplemental disclosure of non-cash financing activities      
Deferred underwriters' commission included in proceeds from IPO 0 2,250,000 2,250,000
Accrued offering costs included in proceeds from initial public offering $ 39,760 $ 20,000 $ 20,000