Cambridge Capital Acquisition (CAMB) 10-Q 14 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 10, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Cambridge Capital Acquisition Corp
Entity Central Index Key	1,588,869
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		10,534,625

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 39,371	$ 47,185
Prepaid expenses	40,000	2,445
Total current assets	79,371	49,630
Restricted investments and cash equivalents held in trust account	81,306,011	81,339,095
Total assets	81,385,382	81,388,725
Current Liabilities:
Accrued expenses	401,028	139,342
Accrued Delaware franchise tax	142,529	$ 86,529
Note payable from stockholder	170,000
Accrued expenses - related party	86,092	$ 9,598
Total liabilities	$ 799,649	$ 235,469
Commitments
Common stock, subject to possible conversion or tender, 7,483,643 and 7,536,766 shares at conversion value at June 30, 2015 and December 31, 2014, respectively	$ 75,585,732	$ 76,153,255
Shareholders' Equity:
Preferred stock, $.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Common stock, $.0001 par value; 40,000,000 shares authorized; 3,050,982 shares issued and outstanding (excluding 7,483,643 shares subject to possible conversion or tender) at June 30, 2015 and 2,997,859 shares issued and outstanding (excluding 7,536,766 shares subject to possible conversion or tender) at December 31, 2014	$ 305	$ 299
Additional paid-in capital	6,490,246	5,922,729
Accumulated deficit	(1,490,550)	(923,027)
Total stockholders' equity	5,000,001	5,000,001
Total liabilities, redeemable common stock and stockholders' equity	$ 81,385,382	$ 81,388,725

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Balance Sheets [Abstract]
Common stock, subject to possible conversion or tender	7,483,643	7,536,766
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	3,050,982	2,997,859
Common stock, shares outstanding	3,050,982	2,997,859

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Formation and operating costs
Legal and professional fees		$ 49,461	$ 90,321	$ 235,760	$ 207,890
General and administrative expenses		134,631	95,947	279,358	207,742
Office expense - related party		30,000	30,000	60,000	60,000
Loss from operations		(214,092)	(216,268)	(575,118)	(475,632)
Interest income		3,414	11,319	7,595	20,397
Net loss		$ (210,678)	$ (204,949)	$ (567,523)	$ (455,235)
Weighted average shares outstanding, basic and diluted(1)	[1]	3,030,480	2,929,105	3,014,438	2,914,588
Basic and diluted net loss per common share		$ (0.07)	$ (0.07)	$ (0.19)	$ (0.16)
[1]	For the three and six months ended June 30, 2015 and 2014, weighted average shares outstanding excluded 7,483,643 and 7,585,418, respectively, shares subject to possible conversion or tender.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Operations (Parenthetical) (Unaudited) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Shares excluded from computation of EPS	7,483,643	7,585,418	7,483,643	7,585,418

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Stockholders' Equity - 6 months ended Jun. 30, 2015 - USD ($)		Total	Common Stock	Additional Paid-in Capital	Deficit Accumulated
Beginning Balance at Dec. 31, 2014		$ 5,000,001	$ 299	$ 5,922,729	$ (923,027)
Beginning Balance, Shares at Dec. 31, 2014			2,997,859
Change in net proceeds subject to possible redemption(1)	[1]	567,523	$ 6	$ 567,517
Change in net proceeds subject to possible redemption(1), Shares	[1]		53,123
Net loss		(567,523)			$ (567,523)
Ending Balance at Jun. 30, 2015		$ 5,000,001	$ 305	$ 6,490,246	$ (1,490,550)
Ending Balance, Shares at Jun. 30, 2015			3,050,982
[1]	As a result of changes in the Company's net tangible assets, a total of 7,483,643 shares of common stock were subject to possible conversion or tender at June 30, 2015.

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Stockholders' Equity [Abstract]
Common stock, subject to possible conversion or tender	7,483,643	7,585,418	7,483,643	7,585,418

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (567,523)	$ (455,235)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discount on investments held in trust	(7,594)	(20,372)
Changes in operating assets and liabilities:
Prepaid expenses	(37,555)	5,189
Accrued expenses	317,686	$ 258,252
Accrued expenses - related party	76,494
Net cash used in operating activities	(218,492)	$ (212,166)
Cash flows from investing activities:
Purchases of restricted investments and cash equivalents held in Trust Account	(325,208,029)	(81,304,516)
Proceeds from maturity of restricted investments and cash equivalents held in Trust Account	325,248,707	$ 81,304,516
Net cash provided by investing activities	40,678
Cash flows from financing activities:
Proceeds from note payable from stockholder	$ 170,000
Payment of offering costs		$ (46,292)
Net cash provided by (used in) financing activities	$ 170,000	(46,292)
Net decrease in cash and cash equivalents	(7,814)	(258,458)
Cash and cash equivalents - beginning	47,185	803,613
Cash and cash equivalents - ending	$ 39,371	$ 545,155

Organization, Plan of Business

Organization, Plan of Business Operations, Liquidity and Going Concern	6 Months Ended
	Jun. 30, 2015
Organization, Plan of Business Operations, Liquidity and Going Concern and Basis of Presentation [Abstract]
Organization, Plan of Business Operations, Liquidity and Going Concern	Note 1 — Organization, Plan of Business Operations, Liquidity and Going Concern Organization and Plan of Business Operations Cambridge Capital Acquisition Corporation (“Cambridge” or the “Company”) was incorporated in Delaware on October 1, 2013 as a blank check company whose objective is to acquire, through a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination, one or more businesses or entities (a “Business Combination”). The Company’s efforts to identify a target business are not limited to a particular industry or geographic region, although the Company is focusing its search for target businesses that operate in the supply chain industry, with an emphasis on target businesses that operate in the traditional transportation and logistics end of the supply chain industry. On December 1, 2014, the Company formed a wholly-owned subsidiary, Cambridge Holdco, Inc. (“Holdco”), a Marshall Islands corporation, and Cambridge Merger Sub, Inc. (“Merger Sub”), a wholly-owned subsidiary of Holdco and a Marshall Islands corporation. The Company formed Holdco and Merger Sub for the purpose of consummating a proposed Business Combination with Parakou Tankers, Inc., a Marshall Islands corporation (“Parakou”) pursuant to a Business Combination Agreement (“Merger Agreement”) entered into on December 1, 2014. On May 6, 2015, the Company and Parakou terminated the Merger Agreement and are no longer pursuing merger discussions with such party. All activity through June 30, 2015 relates to the Company’s formation, the offering described below and the Company’s identification and investigation of prospective target businesses with which to consummate a Business Combination. The registration statement for the Company’s initial public offering (“Public Offering”) was declared effective on December 17, 2013. On December 23, 2013, the Company consummated the Public Offering of 7,000,000 units (“Units”) at $10.00 per Unit and received net proceeds of $67,217,475 after payment of underwriters discount of $2,275,000 and offering expenses of $507,525 and simultaneously raised $4,275,000 through the issuance of 427,500 private units (“Private Units”) at $10.00 per unit to the Company’s initial stockholders (collectively, the “Sponsors”) and the underwriters (and/or their respective designees) in a private placement (See Note 4 – Public Offering and Private Placement). Subsequent to December 31, 2013, the Company paid $46,292 in additional offering expenses, for a total amount of offering expenses paid of $553,817. On December 23, 2013, the underwriters exercised their over-allotment option and on December 30, 2013, the Company consummated the closing of the over-allotment option (the “Overallotment”). The Public Offering and the Overallotment are collectively referred to as the “Offering.” The Company sold 1,050,000 units pursuant to the Overallotment at an offering price of $10.00 per Unit, generating net proceeds of $10,158,750 after payment of underwriters’ discount of $341,250. In a private placement that took place simultaneously with the consummation of the exercise of the over-allotment option, certain of the Sponsors and the underwriters purchased an additional 44,625 Private Units at $10.00 per Private Unit generating gross proceeds of $446,250. The private placements consummated simultaneously with the Offering are collectively referred to as the “Private Placement.” The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Offering and the Private Placement, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to effect a Business Combination successfully. The Company’s securities are listed on the Nasdaq Capital Markets (“NASDAQ”). Pursuant to the NASDAQ listing rules, the target business or businesses that the Company acquires must collectively have a fair market value equal to at least 80% of the balance of the funds in the Trust Account (defined below) at the time of the execution of a definitive agreement for its initial Business Combination, although the Company may acquire a target business whose fair market value significantly exceeds 80% of the Trust Account balance. Organization and Plan of Business Operations, continued Following the closing of the Overallotment on December 30, 2013, an amount of $81,305,000 (or $10.10 per Unit sold in the Offering), including the proceeds of the Private Placement, was placed in trust (the “Trust Account”) and was subsequently invested in United States government treasury bills having a maturity of 180 days or less or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment Company Act of 1940, as amended, that invest solely in U.S. treasuries until the earlier of the consummation of the initial Business Combination and the Company’s failure to consummate a Business Combination within the prescribed time. Placing funds in the Trust Account may not protect those funds from third party claims against the Company. Although the Company will seek to have all vendors, service providers, prospective target businesses or other entities it engages, execute agreements with the Company waiving any claim of any kind in or to any monies held in the Trust Account, there is no guarantee that such persons will execute such agreements. The Company’s executive officers have agreed that they will be jointly and severally liable under certain circumstances to ensure that the proceeds in the Trust Account are not reduced by the claims of target businesses or vendors or other entities that are owed money by the Company for services rendered, contracted for or products sold to the Company. However, they may not be able to satisfy those obligations should they arise. The remaining net proceeds (not held in the Trust Account) may be used to pay for business, legal and accounting due diligence on prospective acquisitions and continuing general and administrative expenses. In addition, (1) interest income on the funds held in the Trust Account can be released to the Company to pay its income and other tax obligations and (2) interest income on the funds held in the Trust Account can be released to the Company to pay for its working capital requirements in connection with searching for a Business Combination. The Company will seek shareholder approval of any Business Combination at a meeting called for such purpose at which shareholders may seek to convert their shares into their pro rata share of the aggregate amount then on deposit in the Trust Account, less any taxes then due but not yet paid. The Company will proceed with a Business Combination only if it has net tangible assets of at least $5,000,001 upon consummation of a Business Combination and a majority of the outstanding shares of common stock of the Company voted are voted in favor of the Business Combination. In connection with any shareholder vote required to approve any Business Combination, the Sponsors agreed (i) to vote any of their respective shares, including the 2,012,500 shares of common stock sold to the Sponsors in connection with the organization of the Company (the “Sponsors’ Shares”), shares of common stock sold to Sponsors in connection with the Private Placement, and any shares of common stock which were initially issued in connection with the Offering, whether acquired in or after the effective date of the Offering, in favor of the initial Business Combination and (ii) not to convert such respective shares into a pro rata portion of the Trust Account. The Company’s amended and restated Certificate of Incorporation provides that the Company will continue in existence only until December 23, 2015. If the Company has not completed a Business Combination by such date, the Company will, as promptly as possible but not more than ten business days thereafter, redeem from holders of the outstanding shares sold in the Offering (“Public Stockholders”) 100% of such shares for a pro rata portion of the funds held in the Trust Account and then seek to dissolve and liquidate. In the event of a liquidation, the Public Stockholders will be entitled to receive a full pro rata interest in the Trust Account (initially anticipated to be $10.10 per share after the closing of the Overallotment, plus any pro rata interest earned on the Trust Account not previously released to the Company). The Company’s Sponsors and purchasers of the Private Units have agreed not to participate in such redemption, except with respect to any shares of common stock which were issued in connection with the Offering. Liquidity and Going Concern As of June 30, 2015, the Company had $39,371 in its operating bank accounts and $81,306,011 in restricted cash and equivalents held in trust to be used for an initial Business Combination or to convert its common shares. As of June 30, 2015, the Company has withdrawn $40,678 from interest income on the trust account for its working capital and tax obligations. As of June 30, 2015, $1,011 of the amount on deposit in the trust account represents interest income, which was available to be withdrawn as described above. Until consummation of its initial Business Combination, the Company will be using the funds not held in the trust account, plus the interest earned on the trust account balance (net of income, and other tax obligations) that may be released to the Company to fund its working capital requirements, for identifying and evaluating prospective acquisition candidates, performing business due diligence on prospective target businesses, traveling to and from the offices, plants or similar locations of prospective target businesses, reviewing corporate documents and material agreements of prospective target businesses, selecting the target business to acquire and structuring, negotiating and consummating the Business Combination. The Company will need to raise additional capital through loans or additional investments from its shareholders, officers, directors, or third parties. None of the shareholders, officers or directors are under any obligation to advance funds to, or to invest in, the Company. Accordingly, the Company may not be able to obtain additional financing. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of its business plan, and reducing overhead expenses. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of these uncertainties. On March 6, 2015 and June 8, 2015, the Company issued promissory notes (the “Notes”) to Benjamin Gordon, the Company’s Chief Executive Officer, evidencing loans by Mr. Gordon of $70,000 and $100,000, respectively. See Note 5 – Commitments and Contingencies for a further discussion of the Notes.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Plan of Business Operations, Liquidity and Going Concern and Basis of Presentation [Abstract]
Basis of Presentation	Note 2 — Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ended December 31, 2015. For further information refer to the financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with Securities and Exchange Commission on March 2, 2015.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 — Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of Cambridge, Holdco, and Merger Sub. All significant intercompany transactions have been eliminated in consolidation. Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains cash balances that may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions. Restricted Investments and Cash Equivalents Held in Trust Account The amounts held in the Trust Account represent substantially all of the proceeds of the Offering and are classified as restricted assets since such amounts can only be used by the Company in connection with the consummation of a Business Combination. As of June 30, 2015 and December 31, 2014, investment securities held in the Trust Account consisted solely of $81,306,011 and $81,339,095 of cash equivalents, respectively. From time to time, the Company may invest the amounts held in the Trust Account in United States Treasury securities. The Company classifies its United States Treasury securities as held-to-maturity in accordance with ASC 320 “Investments – Debt and Equity Securities”. Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying balance sheet and are adjusted for the accretion of discounts. A decline in the market value of held-to-maturity securities below cost that is deemed to be other than temporary, results in an impairment that reduces the carrying costs to such securities’ fair value. The impairment is charged to earnings and a new cost basis for the security is established. To determine whether an impairment is other than temporary, the Company considers whether it has the ability and intent to hold the investment until a market price recovery and considers whether evidence indicating the cost of the investment is recoverable outweighs evidence to the contrary. Premiums and discounts are amortized or accreted over the life of the related held-to-maturity security as an adjustment to yield using the effective-interest method. Such amortization and accretion is included in the “interest income” line item in the statements of operations. Interest income is recognized when earned. Common Stock Subject to Possible Conversion The Company accounts for its common stock subject to possible conversion in accordance with the guidance provided in ASC 480 “Distinguishing Liabilities from Equity”. Common stock subject to mandatory conversion (if any) is classified as a liability instrument and is measured at fair value. Conditionally convertible common stock (including common stock that features conversion rights that are either within the control of the holder or subject to conversion upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s common stock features certain conversion rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly at June 30, 2015 and December 31, 2014, the common stock subject to possible conversion is presented as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet. Loss Per Share Loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the periods. Common shares subject to possible redemption of 7,483,643 and 7,585,418 for the three months ended June 30, 2015 and 2014, respectively, and 7,483,643 and 7,585,418 for the six months ended June 30, 2015 and 2014, respectively, have been excluded from the calculation of basic loss per share since such shares, if redeemed, only participate in their pro rata share of the trust earnings. The Company has not considered the effect of (i) warrants sold in the Public Offering and Private Placement to purchase 8,522,125 shares of the Company’s common stock and (ii) 420,000 shares of common stock and warrants to purchase 420,000 common shares included in the unit purchase option sold to the underwriter, in the calculation of diluted loss per share, since the exercise of the warrants is contingent on the occurrence of future events. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Material estimates include the Company’s estimate of the value of the unit purchase option issued to the underwriter of the Public Offering. Income Taxes The Company accounts for income taxes under ASC Topic 740 “Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company is required to file income tax returns in the United States (federal) and in various state and local jurisdictions. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statements. Since the Company was incorporated on October 1, 2013, the evaluation was performed for the 2014 and 2013 tax years, which will be the only periods subject to examination. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in a material change to its financial position. The Company’s policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense. There were no amounts accrued for penalties or interest as of or for the six months ended June 30, 2015. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position. Subsequent Events The Company evaluates events that have occurred after the balance sheet date of June 30, 2015 through the date which these financial statements were issued. Based upon the review, except as disclosed in Note 7 - Subsequent Event, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Public Offering and Private Pla

Public Offering and Private Placement	6 Months Ended
	Jun. 30, 2015
Public Offering and Private Placement [Abstract]
Public Offering and Private Placement	Note 4 — Public Offering and Private Placement On December 23, 2013 and December 30, 2013, the Company sold 7,000,000 and 1,050,000 Units, respectively, at an offering price of $10.00 per Unit generating gross proceeds of $70,000,000 and $10,500,000, respectively, in the Offering. Each Unit consisted of one share of common stock of the Company and one Warrant to purchase one share of common stock of the Company (“Warrant”). Each Warrant entitles the holder to purchase one share of common stock at a price of $11.50 upon the Company’s completion of its initial Business Combination and expiring on December 17, 2018. The Company may redeem the Warrants at a price of $0.01 per Warrant upon 30 days’ notice, only in the event that the last sale price of the shares of common stock is at least $17.50 per share for any 20 trading days within a 30-trading day period (“30-Day Trading Period”) ending on the third day prior to the date on which notice of redemption is given, provided there is a current registration statement in effect with respect to the shares of common stock underlying such Warrants commencing five business days prior to the 30-Day Trading Period and continuing each day thereafter until the date of redemption. If the Company redeems the Warrants as described above, management will have the option to require all holders that wish to exercise Warrants to do so on a “cashless basis.” In accordance with the warrant agreement relating to the Warrants sold and issued in the Offering, the Company is only required to use its best efforts to maintain the effectiveness of the registration statement covering the Warrants. If a registration statement is not effective within 90 days following the consummation of a Business Combination, Warrant holders may, beginning on the 91st day and until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis. In the event that a registration statement is not effective at the time of exercise, the holder of such Warrant shall not be entitled to exercise such Warrant for cash and in no event (whether in the case of a registration statement being effective or otherwise) will the Company be required to net cash settle the Warrant exercise. On December 23, 2013 and December 30, 2013, the Company sold 427,500 and 44,625 Private Units, respectively, at an offering price of $10.00 per Private Unit generating gross proceeds of $4,275,000 and $446,250, respectively, in the Private Placement. The Private Units are identical to the Units sold in the Offering except the warrants included in the Private Units are non-redeemable and may be exercised on a cashless basis, in each case so long as they continue to be held by the initial purchasers or their permitted transferees. Additionally, the holders of the Private Units have agreed (A) to vote the shares underlying their Private Units in favor of any proposed Business Combination, (B) not to propose, or vote in favor of, an amendment to the Company’s amended and restated certificate of incorporation with respect to the Company’s pre-Business Combination activities prior to the consummation of such a Business Combination, (C) not to convert any shares underlying the Private Units into the right to receive cash from the trust account in connection with a stockholder vote to approve an initial Business Combination or a vote to amend the provisions of the Company’s amended and restated certificate of incorporation relating to stockholders’ rights or pre-Business Combination activity and (D) that the shares underlying the Private Units shall not participate in any liquidating distribution upon winding up if a Business Combination is not consummated. The purchasers have also agreed not to transfer, assign or sell any of the private units or underlying securities (except to the same permitted transferees as the insider shares and provided the transferees agree to the same terms and restrictions as the permitted transferees of the insider shares must agree to, each as described above) until the completion of the Company’s initial Business Combination. The Sponsors and purchasers of the Private Units are entitled to registration rights with respect to their initial shares and the Private Units purchased in the Private Placement. The holders of the majority of the initial shares are entitled to demand that the Company register these shares at any time commencing three months prior to the first anniversary of the consummation of a Business Combination. The holders of the Private Units (and underlying securities) are entitled to demand that the Company register these securities at any time after the Company consummates a Business Combination. In addition, the Sponsors and purchasers of the Private Units have certain “piggy-back” registration rights on registration statements filed after the Company’s consummation of a Business Combination. Pursuant to an agreement with the underwriters of the Offering (the “Underwriting Agreement”), the Company paid 3.25% of the gross proceeds of the Offering or $2,616,250 as underwriting discounts and commissions. The Company has further engaged the representative of the underwriters (“Representative”) as an investment banker to provide the Company with merger and acquisition services in connection with its initial Business Combination. Pursuant to this arrangement, the Representative will, if requested, advise and assist the Company in reviewing potential targets with which the Company may consummate a Business Combination as well as structuring the terms of the Business Combination and negotiating the terms of the letter of intent and/or definitive agreement relating to such Business Combination (but not for purposes of finding and/or locating potential targets for its Business Combination). If requested by the Company, the Representative will participate directly in negotiations, review marketing plans and projections of the target, analyze and advise on the financial implications of the transaction, and arrange meetings with and prepare materials for investors. The Company will pay the Representative a cash fee for such services upon the consummation of its initial Business Combination in an amount equal to $2,415,000 (representing 3.0% of the total gross proceeds raised in the Offering (exclusive of any applicable finders’ fees which might become payable)).In connection with the closing of the Offering, the Company sold to the underwriter and its designees, for $100, unit purchase options to purchase up to a total of 420,000 units exercisable at $10.00 per unit (or an aggregate exercise price of $4,200,000) commencing on the consummation of a Business Combination. The unit purchase option expires on December 17, 2018. The units issuable upon exercise of these options are identical to the Units sold in the Offering. The holders of the unit purchase options have demand and “piggy back” registration rights for periods of five and seven years, respectively, from the effective date of the Public Offering, including securities directly and indirectly issuable upon exercise of the unit purchase option. The Company has accounted for the fair value of the unit purchase options, inclusive of the receipt of a $100 cash payment, as an expense of the Offering resulting in a charge directly to stockholders’ equity. The Company has determined that the fair value of this unit purchase options was approximately $1,402,485 (or $3.34 per Unit) using the Black-Scholes option-pricing model. The fair value of the unit purchase options was estimated as of the date of grant using the following assumptions: (1) expected volatility of 35%, (2) risk-free interest rate of 1.68% and (3) expected life of five years. The unit purchase options may be exercised for cash or on a “cashless” basis, at the holders’ option (except in the case of a forced cashless exercise upon the Company’s redemption of the Warrants, as described above), such that the holder may use the appreciated value of the unit purchase option (the difference between the exercise prices of the unit purchase option and the underlying Warrants and the market price of the Units and underlying shares of common stock) to exercise the unit purchase option without the payment of any cash. The Company will have no obligation to net cash settle the exercise of the unit purchase options or the Warrants underlying the unit purchase options. The holders of the unit purchase options will not be entitled to exercise the unit purchase options or the Warrants underlying the unit purchase options unless a registration statement covering the securities underlying the unit purchase options is effective or an exemption from registration is available. If the holders are unable to exercise the unit purchase options or underlying Warrants, the unit purchase options or Warrants, as applicable, will expire worthless.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 5 — Commitments and Contingencies Office Space The Company presently occupies office space provided by an affiliate of the Company’s Chief Executive Officer (the “Affiliate”). Such Affiliate has agreed that, until the Company consummates a Business Combination, it will make such office space, as well as certain office and secretarial services, available to the Company, as may be required by the Company from time to time. The Company has agreed to pay such Affiliate $10,000 per month for such services commencing on December 17, 2013. During the three and six months ended June 30, 2015, the Company has accrued $30,000 and $60,000 to the aforementioned Affiliate, which is reflected in the Statement of Operations as Office Expense - Related Party. As of June 30, 2015, the Company included in Accrued Expenses - Related Party $86,091 due to the Affiliate representing the unpaid portion of the administrative fee along with unpaid reimbursable expenses. Legal Proceedings On March 24, 2015, the Company, the members of the Company’s board of directors and Parakou were named as defendants in a putative class action and derivative lawsuit captioned Brian Levy v. Cambridge Capital Acquisition Corp., et al., No. 2015 CA 003339. The complaint was filed in the Circuit Court of the 15th Judicial Circuit of Palm Beach County, Florida (the “Action”) by a person identifying himself as a stockholder of Cambridge. The complaint generally alleged, among other things, that the members of the Cambridge board of directors breached their fiduciary duties to Cambridge stockholders by approving the Mergers. The complaint also alleged that there were various conflicts of interest in the transaction and that such conflicts of interest were not adequately disclosed to stockholders in the definitive proxy statement/prospectus that the Company filed with the SEC on March 27, 2015 (the “Proxy Statement/Prospectus”). The Action sought injunctive relief, damages and reimbursement of costs, among other remedies. On April 9, 2015, the plaintiff in the Action filed a motion for a preliminary injunction seeking to enjoin temporarily the closing of the Mergers. On April 15, 2015, the circuit judge set a hearing date of April 17, 2015 for an emergency hearing on the motion for preliminary injunction. The Company, under the advice of legal counsel, believed that the Action was without merit and that no further disclosure was required to supplement the Proxy Statement/Prospectus under applicable laws. However, to eliminate certain burdens, expenses and uncertainties, on April 16, 2015, defendants in the Action entered into a Memorandum of Understanding regarding the settlement of claims asserted in the Action and on April 17, 2015, the plaintiff in the Action filed a notice of withdrawal of its emergency motion for preliminary injunction and unopposed motion to cancel the hearing. The Memorandum of Understanding outlines the terms of the parties’ agreement in principle to settle and release all claims which were or could have been asserted in the Action. In consideration of the settlement and release, the parties to the Action agreed, among other things, (i) that the Company would make certain supplemental disclosures to the Proxy Statement/Prospectus and (b) to negotiate in good faith to agree upon a stipulation of settlement to be submitted to the court for approval. The stipulation of settlement will be subject to customary conditions, including approval by the court, which will consider the fairness, reasonableness and adequacy of the settlement. There can be no assurance that the court will approve the settlement even if the parties were to enter into such a stipulation. In that event, the proposed settlement will be null and void and of no force and effect. If the court approves the settlement, then the court has the discretion and authority to award reasonable attorney’s fees to plaintiff’s counsel. The Company believes that it is reasonably possible that the Action could result in a material loss. However, the Company is not able to estimate the amount. At June 30, 2015, no amounts have been accrued on the Company’s condensed consolidated financial statements in connection with this Action. Legal Matters The Company has engaged a law firm to assist the Company with its legal matters in identifying, negotiating, and consummating a Business Combination as well as assisting with other legal matters. In connection with the engagement, the Company has agreed to pay the law firm $3,000 per month plus additional legal fees not to exceed $100,000 per calendar year. Upon the consummation of a Business Combination, the Company will pay the law firm an additional cash fee for its services, the amount of which has not yet been determined and for which the Company is not yet able to provide an estimate. Promissory Notes On March 6, 2015 and June 8, 2015, the Company issued the Notes to Benjamin Gordon to evidence loans of $70,000 and $100,000, respectively, made by Mr. Gordon to the Company. The Notes bear no interest and the principal balance is due and payable upon the consummation of a Business Combination. Furthermore, at the consummation of a Business Combination, Mr. Gordon has the option to convert any or all of the Notes into additional Private Units of the Company at a rate of $10.00 per Private Unit.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	Note 6 — Stockholders’ Equity Preferred Stock The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designation, rights and preferences as may be determined from time to time by the Company’s board of directors. As of June 30, 2015, there are no shares of preferred stock issued or outstanding. Common Stock The Company is authorized to issue 40,000,000 shares of common stock with a par value of $0.0001 per share. In connection with the organization of the Company, on December 23, 2013, the Sponsors Shares, consisting of a total of 2,012,500 shares of the Company’s common stock were sold to the Sponsors at a price of approximately $0.01 per share for an aggregate of $25,000. This number included an aggregate of 262,500 shares that would have been subject to forfeiture if the over-allotment option had not been exercised in full by the underwriters. On December 23, 2013, the underwriters exercised their overallotment option and such option was fully closed on December 30, 2013. As a result, no shares remain subject to forfeiture. At June 30, 2015, 3,050,982 shares of the Company’s common stock were issued and outstanding, excluding 7,483,643 shares subject to possible conversion or tender. At December 31, 2014, 2,997,859 shares of the Company’s common stock were issued and outstanding, excluding 7,536,766 shares subject to possible conversion. The Sponsors Shares were placed into an escrow account maintained by Continental Stock Transfer and Trust Company, acting as escrow agent. Subject to certain limited expectations, these shares will not be transferable during the escrow period. Such shares will be released from escrow on the first anniversary of the closing date of the initial Business Combination, or earlier upon the occurrence of certain events.

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2015
Subsequent Event [Abstract]
Subsequent Event	Note 7 — Subsequent Event On August 3, 2015, the Company issued a $100,000 convertible promissory note to Benjamin Gordon, the Company’s Chief Executive Officer, to evidence a loan made by Mr. Gordon to the Company. The loan bears no interest and the principal balance is due and payable upon the consummation of a Business Combination. Furthermore, at the consummation of a Business Combination, Mr. Gordon has the option to convert any or all of the Notes into additional Private Units of the Company at a rate of $10.00 per Private Unit.

Significant Accounting Polici16

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Significant Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of Cambridge, Holdco, and Merger Sub. All significant intercompany transactions have been eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company maintains cash balances that may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions.
Restricted Investments and Cash Equivalents Held in Trust Account	Restricted Investments and Cash Equivalents Held in Trust Account The amounts held in the Trust Account represent substantially all of the proceeds of the Offering and are classified as restricted assets since such amounts can only be used by the Company in connection with the consummation of a Business Combination. As of June 30, 2015 and December 31, 2014, investment securities held in the Trust Account consisted solely of $81,306,011 and $81,339,095 of cash equivalents, respectively. From time to time, the Company may invest the amounts held in the Trust Account in United States Treasury securities. The Company classifies its United States Treasury securities as held-to-maturity in accordance with ASC 320 “Investments – Debt and Equity Securities”. Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying balance sheet and are adjusted for the accretion of discounts. A decline in the market value of held-to-maturity securities below cost that is deemed to be other than temporary, results in an impairment that reduces the carrying costs to such securities’ fair value. The impairment is charged to earnings and a new cost basis for the security is established. To determine whether an impairment is other than temporary, the Company considers whether it has the ability and intent to hold the investment until a market price recovery and considers whether evidence indicating the cost of the investment is recoverable outweighs evidence to the contrary. Premiums and discounts are amortized or accreted over the life of the related held-to-maturity security as an adjustment to yield using the effective-interest method. Such amortization and accretion is included in the “interest income” line item in the statements of operations. Interest income is recognized when earned.
Common Stock Subject to Possible Conversion	Common Stock Subject to Possible Conversion The Company accounts for its common stock subject to possible conversion in accordance with the guidance provided in ASC 480 “Distinguishing Liabilities from Equity”. Common stock subject to mandatory conversion (if any) is classified as a liability instrument and is measured at fair value. Conditionally convertible common stock (including common stock that features conversion rights that are either within the control of the holder or subject to conversion upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s common stock features certain conversion rights that are considered by the Company to be outside of the Company’s control and subject to the occurrence of uncertain future events. Accordingly at June 30, 2015 and December 31, 2014, the common stock subject to possible conversion is presented as temporary equity, outside of the stockholders’ equity section of the Company’s balance sheet.
Loss Per Share	Loss Per Share Loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the periods. Common shares subject to possible redemption of 7,483,643 and 7,585,418 for the three months ended June 30, 2015 and 2014, respectively, and 7,483,643 and 7,585,418 for the six months ended June 30, 2015 and 2014, respectively, have been excluded from the calculation of basic loss per share since such shares, if redeemed, only participate in their pro rata share of the trust earnings. The Company has not considered the effect of (i) warrants sold in the Public Offering and Private Placement to purchase 8,522,125 shares of the Company’s common stock and (ii) 420,000 shares of common stock and warrants to purchase 420,000 common shares included in the unit purchase option sold to the underwriter, in the calculation of diluted loss per share, since the exercise of the warrants is contingent on the occurrence of future events.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Material estimates include the Company’s estimate of the value of the unit purchase option issued to the underwriter of the Public Offering.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC Topic 740 “Income Taxes” (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and tax basis of assets and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized. ASC 740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company is required to file income tax returns in the United States (federal) and in various state and local jurisdictions. Based on the Company’s evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statements. Since the Company was incorporated on October 1, 2013, the evaluation was performed for the 2014 and 2013 tax years, which will be the only periods subject to examination. The Company believes that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in a material change to its financial position. The Company’s policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense. There were no amounts accrued for penalties or interest as of or for the six months ended June 30, 2015. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.
Subsequent Events	Subsequent Events The Company evaluates events that have occurred after the balance sheet date of June 30, 2015 through the date which these financial statements were issued. Based upon the review, except as disclosed in Note 7 - Subsequent Event, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Organization, Plan of Busines17

Organization, Plan of Business Operations Liquidity and Going Concern (Details) - USD ($)	Dec. 23, 2013	Dec. 30, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 08, 2015	Mar. 06, 2015	Dec. 31, 2014	Dec. 31, 2013
Organization and Plan of Business Operations (Textual)
Proceeds from offering
Sale of units, number of unit sold		1,050,000	2,012,500
Proceeds from private placement
Net proceeds from issuance of share after payment of underwriter's discount		$ 10,158,750
Discount on underwriters		$ 341,250
Sale of underwriters discount and offering costs, per share		$ 10
Percentage of balance of funds in Trust Account			80.00%
Payment of offering costs				$ 46,292
Total amount of offering expenses			$ 553,817
Minimum net tangible assets required to proceed business combination			$ 5,000,001
Percentage of redemption shares sold in offering from public stockholders			100.00%
Liquidation per share price to public stockholders			$ 10.10
Shares of common stock sold to the Sponsors		2,012,500
Cash and cash equivalents			$ 39,371	545,155			$ 47,185	$ 803,613
Accretion of discount on investments held in trust			(7,594)	$ (20,372)
Restricted investments and cash equivalents held in trust account			81,306,011				$ 81,339,095
Amount of deposit in trust account represents interest income			39,371
CEO received cash					$ 100,000	$ 70,000
Interest income withdrawn			40,678
Trust Account [Member]
Organization and Plan of Business Operations (Textual)
Sale of stock, price per share		$ 10.10
Proceeds from over allotment and private placement transferred to trust account		$ 81,305,000
Maturity description		180 days or less
IPO [Member]
Organization and Plan of Business Operations (Textual)
Proceeds from offering	$ 67,217,475
Sale of units, number of unit sold	7,000,000	1,050,000
Number of shares issued	7,000,000
Sale of stock, price per share	$ 10	$ 10
Discount on underwriters	$ 2,275,000
Offering expenses	$ 507,525
IPO [Member] | Underwriter [Member]
Organization and Plan of Business Operations (Textual)
Discount on underwriters			2,616,250
Offering expenses			$ 2,415,000
Private Placement [Member]
Organization and Plan of Business Operations (Textual)
Sale of units, number of unit sold	427,500	44,625
Proceeds from private placement	$ 4,275,000	$ 446,250
Number of shares issued		44,625
Sale of stock, price per share	$ 10	$ 10

Significant Accounting Polici18

Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Significant Accounting Policies (Textual)
Restricted investments and cash equivalents held in trust account	$ 81,306,011		$ 81,306,011		$ 81,339,095
Number of antidiluted shares	7,483,643	7,585,418	7,483,643	7,585,418
Cash Equivalents [Member]
Significant Accounting Policies (Textual)
Restricted investments and cash equivalents held in trust account	$ 81,306,011		$ 81,306,011		$ 81,339,095
Equity Option [Member]
Significant Accounting Policies (Textual)
Number of antidiluted shares			420,000
Warrant [Member]
Significant Accounting Policies (Textual)
Number of antidiluted shares			8,522,125

Public Offering and Private P19

Public Offering and Private Placement (Details) - USD ($)	Dec. 23, 2013	Dec. 30, 2013	Jun. 30, 2015	Jun. 30, 2014
Public Offering and Private Placement (Textual)
Sale of units, number of unit sold		1,050,000	2,012,500
Proceeds from Issuance of Private Placement
Discount on underwriters		$ 341,250
IPO [Member]
Public Offering and Private Placement (Textual)
Sale of units, number of unit sold	7,000,000	1,050,000
Number of units issued, price per unit	$ 10	$ 10
Sale of unit, amount received for transaction	$ 70,000,000	$ 10,500,000
Sale of unit, description			Each Unit consisted of one share of common stock of the Company and one Warrant to purchase one share of common stock of the Company ("Warrant").
Discount on underwriters	2,275,000
Offering expenses	$ 507,525
Number of stock option unit exercisesd			$ 4,200,000
Number of stock option unit exercisesd, shares			420,000
Stock option unit exercisesd, price per shares			$ 10
Stock option expire date			Dec. 17, 2018
Stock option fair value			$ 1,402,485
Stock option fair value per share			$ 3.34
Stock option assumption fair value expected volatility rate			35.00%
Stock option assumption fair value expected interest rate			1.68%
Stock option assumption fair value expected life			5 years
Sale of unit purchase option			$ 100
Purchase Option Description			The Company has accounted for the fair value of the unit purchase options, inclusive of the receipt of a $100 cash payment, as an expense of the Offering resulting in a charge directly to stockholders' equity.
IPO [Member] | Warrant [Member]
Public Offering and Private Placement (Textual)
Number of units issued, price per unit			$ 11.50
Warrant redemption description			Warrants at a price of $0.01 per Warrant upon 30 days' notice, only in the event that the last sale price of the shares of common stock is at least $17.50 per share for any 20 trading days within a 30-trading day period ("30-Day Trading Period").
IPO [Member] | Underwriter [Member]
Public Offering and Private Placement (Textual)
Underwriters discount, description			Company paid 3.25% of the gross proceeds of the Offering or $2,616,250 as underwriting discounts and commissions.
Discount on underwriters			$ 2,616,250
Offering expenses			$ 2,415,000
Underwriters fees description			Cash fee for such services upon the consummation of its initial Business Combination in an amount equal to $2,415,000 (representing 3.0% of the total gross proceeds raised in the Offering.
Private Placement [Member]
Public Offering and Private Placement (Textual)
Sale of units, number of unit sold	427,500	44,625
Proceeds from Issuance of Private Placement	$ 4,275,000	$ 446,250
Number of units issued, price per unit	$ 10	$ 10

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Jun. 08, 2015	Mar. 06, 2015	Dec. 17, 2013	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Commitments and Contingencies (Textual)
Office space and service expense			$ 10,000
Office expense - related party				$ 30,000	$ 30,000	$ 60,000	$ 60,000
CEO received cash	$ 100,000	$ 70,000				$ 170,000
Conversion price				$ 10		$ 10
Accrued expenses due to related party affiliate				$ 86,091		$ 86,091
Legal fees (per month)						3,000
Additional legal fees						$ 100,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Dec. 23, 2013	Jun. 30, 2015	Dec. 31, 2014
Stockholders' Equity (Textual)
Preferred stock, shares authorized		1,000,000	1,000,000
Preferred stock, par value		$ 0.0001	$ 0.0001
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, shares authorized		40,000,000	40,000,000
Common stock, par value		$ 0.0001	$ 0.0001
Common stock, shares issued		3,050,982	2,997,859
Common stock, shares outstanding		3,050,982	2,997,859
Common stock, subject to possible conversion or tender		7,483,643	7,536,766
Sponsor [Member]
Stockholders' Equity (Textual)
Common stock issued to sponsors	2,012,500
Common stock issued to sponsors value	$ 25,000
Share price	$ 0.01
Founder shares forfeited upon underwriters election not to exercise their over-allotment option	262,500

Subsequent Event (Details)

Subsequent Event (Details) - USD ($)	Aug. 03, 2015	Jun. 30, 2015
Subsequent Event (Textual)
Conversion price		$ 10
Subsequent Event [Member]
Subsequent Event (Textual)
Issued amount of convertible promissory note	$ 100,000
Conversion price	$ 10