Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.21.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis

The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of December 31, 2020, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

 

    December 31,     Quoted
Prices In
Active
Markets
    Significant
Other
Observable
Inputs
    Significant
Other
Unobservable
Inputs
 
    2020     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
U.S. Money Market held in Trust Account   $ 379     $ 379     $ -     $ -  
U.S. Treasury Securities held in Trust Account     116,162,094       116,162,094             -              -  
    $ 116,162,473     $ 116,162,473     $ -     $ -  
Schedule of earning per share

Non-redeemable common stock includes the founder shares as these common stocks do not have any redemption features and do not participate in the income earned on the Trust Account.

 

    For the Period from  
    August 20,
2020 (Inception)
 
    through December 31,
2020
 
Common stock subject to possible redemption        
Numerator: Net income allocable to common stock subject to possible redemption Amortized Interest income on marketable securities held in trust   $ 8,984  
Less: interest available to be withdrawn for payment of taxes     (8,984 )
Net income allocable to common stock subject to possible redemption   $ -  
Denominator: Weighted Average Redeemable common stock Redeemable Common Stock, Basic and Diluted     4,063,751  
Basic and Diluted net income per share, Redeemable Common Stock   $ 0.00  
         
Non-Redeemable Common Stock        
Numerator: Net Income minus Redeemable Net Earnings        
Net Loss   $ (202,686 )
Redeemable Net Earnings     -  
Non-Redeemable Net Loss   $ (202,686 )
Denominator: Weighted Average Non-Redeemable Common Stock Basic and diluted weighted average shares outstanding, common stock     3,982,640  
    Basic and diluted net loss per share, common stock   $ (0.05 )