GD Culture Group Limited (GDC) 10-Q 11 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 11, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	JM Global Holding Co
Entity Central Index Key	1,641,398
Trading Symbol	WYIGU
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,599,388

Condensed Interim Balance Sheet

Condensed Interim Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash	$ 74,452	$ 150,306
Prepaid assets	40,080	15,580
Total current assets	114,532	165,886
Trust account (See Note 2)	50,058,699	50,109,326
Total assets	50,173,231	50,275,212
CURRENT LIABILITIES:
Accounts payable	7,777	19,922
Accrued expenses	103,992	82,647
Due to affiliates	140,500	140,500
Total current liabilities	252,269	243,069
Common stock subject to possible redemption: 4,000,000 shares (at a redemption value of approximately $10 per share) at June 30, 2017 and December 31, 2016, respectively (See Note 2)	40,000,000	40,000,000
Commitments and contingencies
STOCKHOLDERS' EQUITY:
Preferred stock, $0.0001 par value, 1,000,000 shares authorized; none issued and outstanding
Common stock, $0.0001 par value, 15,000,000 shares authorized; 2,562,500 shares issued and outstanding (excluding 4,000,000 shares subject to redemption) at June 30, 2017 and December 31, 2016, respectively (See Note 2)	256	256
Additional paid-in capital	10,807,708	10,807,708
Accumulated deficit	(887,002)	(775,821)
Total stockholders' equity	9,920,962	10,032,143
Total liabilities and stockholders' equity	$ 50,173,231	$ 50,275,212

Condensed Interim Balance Shee3

Condensed Interim Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, redemption shares	4,000,000	4,000,000
Common stock, redemption price per share	$ 10	$ 10
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	15,000,000	15,000,000
Common stock, shares issued	2,562,500	2,562,500
Common stock, shares outstanding	2,562,500	2,562,500

Condensed Interim Statements of

Condensed Interim Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenue
Operating expenses	179,598	241,346	244,223	416,807
Loss from operations	(179,598)	(241,346)	(244,223)	(416,807)
Interest income	78,090	17,195	133,042	35,984
Net loss attributable to common stock (excluding shares subject to possible redemption)	$ (101,508)	$ (224,151)	$ (111,181)	$ (380,823)
Basic and diluted net loss per share	$ (0.04)	$ (0.09)	$ (0.04)	$ (0.15)
Weighted average number of common stock outstanding
Basic and diluted (excluding shares subject to possible redemption)	2,562,500	2,562,500	2,562,500	2,562,500

Condensed Interim Statements o5

Condensed Interim Statements of Stockholders' Equity (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Dec. 31, 2015	$ 10,623,279	$ 256	$ 10,857,228	$ (234,205)
Balance, shares at Dec. 31, 2015		2,562,500
Cancellation of Common stock issuable to Firstrust	(65,066)		(65,066)
Stock-based compensation recorded for options issued to a director by the Sponsor	15,546		15,546
Net loss	(541,616)			(541,616)
Balance at Dec. 31, 2016	10,032,143	$ 256	10,807,708	(775,821)
Balance, shares at Dec. 31, 2016		2,562,500
Net loss	(111,181)			(111,181)
Balance at Jun. 30, 2017	$ 9,920,962	$ 256	$ 10,807,708	$ (887,002)
Balance, shares at Jun. 30, 2017		2,562,500

Condensed Interim Statements o6

Condensed Interim Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (111,181)	$ (380,823)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issuable for consulting fees		97,600
Changes in operating assets and liabilities
Increase in prepaid expenses	(24,500)	(4,625)
(Decrease) increase in accounts payable	(12,145)	2,753
Increase in accrued expenses	21,345	77,538
Net cash used in operating activities	(126,481)	(207,557)
Cash flows from investing activities:
Interest income withdrawal (reinvested) in Trust Account	50,627	(35,984)
Net cash provided by (used in) investing activities	50,627	(35,984)
Net change in cash	(75,854)	(243,541)
Cash, beginning of period	150,306	623,044
Cash, end of period	74,452	379,503
Non-cash investing and financing activities
Cancellation of common stock issued for future services included in unamortized prepaid expenses		$ 65,066

Description of Organization and

Description of Organization and Business Operations	6 Months Ended
	Jun. 30, 2017
Description of Organization and Business Operations [Abstract]
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Organization and General JM Global Holding Company (the “Company,” “we” or “us” or “our”) is a blank check company incorporated in Delaware on April 10, 2015. The Company was formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction, one or more operating businesses or assets (“Business Combination”). The Company has neither engaged in any operations nor generated any operating revenue to date. The Company’s sponsor is Zhong Hui Holding Limited, a Seychelles limited company (the “Sponsor”). The Company has selected December 31 as its fiscal year end. Financing The registration statement for the Company’s initial public offering (the “Public Offering”) (as described in Note 3) was declared effective by the United States Securities and Exchange Commission (“SEC”) on July 23, 2015. The Sponsor purchased, simultaneously with the closing of the Public Offering on July 29, 2015, 250,000 units at $10.00 per unit in a private placement for an aggregate price of $2,500,000. Each unit purchased is substantially identical to the units sold in the Public Offering, except that the Sponsor has agreed that it will not seek redemption of the stock contained within such units. In addition, the Sponsor purchased an aggregate of 3,000,000 units in the Public Offering. The Sponsor has agreed that it will not seek redemption of 1,000,000 shares of the 3,000,000 shares purchased in the Public Offering. In the event that the Company is unable to complete its initial Business Combination within the required time frame, the non-redeemable 1,000,000 Sponsor shares will be entitled to the liquidation rights described in the “Business Combination” section. The Company initially had until July 29, 2017 to consummate its initial Business Combination. This date has now been extended to January 29, 2018 as described in Note 2 below. If the Company is unable to consummate its initial Business Combination within such time period, the Company will distribute the aggregate amount then on deposit in the Trust Account pro rata to its public shareholders by way of the redemption of their shares and will cease all operations except for the purposes of winding up of its affairs, as further described herein. In such event, the Company’s warrants will expire worthless. The Company expects the per share redemption price to be $10.00 per common share, without taking into account any interest earned on such funds. However, the Company may not be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our public shareholders. In that case, it may be possible that the per-share value of the residual assets remaining available for distribution will be less than the price per Unit in the Public Offering. Upon the closing of the Public Offering and the private placement, $50,000,000 was placed in a trust account (the “Trust Account”), with Continental Stock Transfer & Trust Company acting as trustee. A total of approximately $40.4 million remains in the Trust Account subsequent to the date of this Report (See Note 2). Going Concern and Liquidation None of our Sponsor, stockholders, officers or directors, or third parties, are under any obligation to advance us funds, or to invest in us. Accordingly, we may not be able to obtain additional financing. If we are unable to raise additional capital, we 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 our business plan, and reducing overhead expenses. We cannot provide any assurance that new financing will be available to us on commercially acceptable terms, if at all. Additionally, the Company has until January 29, 2018 (See subsequent event at Note 2) to complete its initial business combination. If the Company has not completed its initial business combination by that time, the Company will distribute the aggregate amount then on deposit in the Trust Account, pro rata, to our public shareholders by way of redemption and cease all operations except for purposes of the winding up of our affairs. These conditions raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. Trust Account An amount equal to 100% of the gross proceeds of the Public Offering received on July 29, 2015 is held in a Trust Account invested in U.S. government securities meeting the conditions of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), having a maturity of 180 days or less or any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the 1940 Act, as determined by the Company until the earlier of (i) the consummation of a Business Combination or (ii) the distribution of the Trust Account. Other than the withdrawal of interest to pay taxes or for working capital, if any, none of the funds held in trust may be released until the earlier of: (i) the completion of the Business Combination; or (ii) the redemption of 100% of the outstanding public shares included in the units sold in the Public Offering if the Company is unable to complete the Business Combination within the required timeframe. On July 27, 2017, in connection with the Special Meeting (see Note 2), the Company and Continental entered into the Trust Amendment, pursuant to which the date on which to commence liquidation of the Trust Account established in connection with the Company’s initial Public Offering in the event the Company has not consummated a Business Combination was extended from July 29, 2017 to January 29, 2018. Business Combination The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Public Offering and the private placement, although substantially all of the net proceeds of the Public Offering and the private placement are intended to be generally applied toward consummating a Business Combination. There is no assurance that the Company will be able to successfully effect a Business Combination. The Company, after signing a definitive agreement for the acquisition of one or more target businesses or assets, may decide to not submit the transaction for stockholder approval, unless otherwise required by law. The Company will proceed with a Business Combination if it is approved by the board of directors. In the event that the Company is required to seek stockholder approval in connection with its initial Business Combination, the Company will proceed with a Business Combination only if a majority of the aggregate outstanding shares that are voted in favor of the Business Combination. In connection with such a vote, the Company will provide its stockholders with the opportunity to redeem their shares of common stock upon the consummation of its initial Business Combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including any amounts representing interest earned on the Trust Account, less any interest released to the Company for working capital purposes or the payment of taxes, divided by the number of then outstanding shares of common stock that were sold as part of the Units in the Public Offering, which the Company refers to as its public shares, subject to the limitations described within the registration statement and any limitations (including but not limited to cash requirements) agreed to in connection with the negotiation of terms of a proposed Business Combination. These shares of common stock, excluding the 1,000,000 non-redeemable shares of the 3,000,000 shares purchased in the Public Offering by the Sponsor, are recorded at a redemption value and classified as temporary equity upon the completion of the Public Offering, in accordance with ASC Topic 480 “Distinguishing Liabilities from Equity”. However, in no event will the Company redeem its public shares in an amount that would cause its net tangible assets to be less than $5,000,001. The Company has until January 29, 2018 (the “Combination Period”) to consummate its initial Business Combination. If the Company is unable to complete its initial Business Combination within the required timeframe the Company will (i) cease all operations except for the purposes of winding up of its affairs; (ii) distribute the aggregate amount then on deposit in the Trust Account, including a portion of the interest earned thereon which was not previously used for working capital, but net of any taxes, pro rata Section 102(b)(1) of the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) permits emerging growth companies to delay complying with new or revised financial accounting standards that do not yet apply to private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act). The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of its financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Extention and Trust Amendment

Extention and Trust Amendment	6 Months Ended
	Jun. 30, 2017
Extention And Trust Amendment [Abstract]
EXTENTION AND TRUST AMENDMENT	2. EXTENTION AND TRUST AMENDMENT On July 27, 2017, at the Special Meeting of Stockholders (the “Special Meeting”), the Company’s stockholders approved the following items: (i) an amendment (the “Extension Amendment”) to the Company’s Certificate of Incorporation to extend the date by which the Company has to consummate a Business Combination (the “Extension”) from July 29, 2017 to January 29, 2018 (the “Extended Date”); and (ii) an amendment (the “Trust Amendment”) to the investment management trust agreement, dated July 23, 2015, by and between the Company and Continental Stock Transfer & Trust Company (“Continental”), to extend the date on which to commence liquidating the Trust Account in the event the Company has not consummated a Business Combination to the Extended Date. The Company received 98.3% of the affirmative vote of the Company’s outstanding shares of common stock to approve the Extension Amendment and the Trust Amendment. The purpose of the Extension was to allow the Company more time to complete a Business Combination. Following redemptions of 963,112 of the Company’s shares in connection with the Extension, a total of approximately $40.4 million remains in the Trust Account. On July 27, 2017, in connection with the Special Meeting, the Company and Continental entered into the Trust Amendment, pursuant to which the date on which to commence liquidation of the Trust Account established in connection with the Company’s initial Public Offering in the event the Company has not consummated a Business Combination was extended from July 29, 2017 to January 29, 2018.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited interim financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (’‘GAAP’’) for interim information and in accordance with the instructions to Form 10-Q and Article 8 and Article 10 of Regulation S-X. Accordingly, since they are interim statements, the accompanying financial statements do not include all of the information and notes required by GAAP for a complete financial statement presentation. These financial statements should be read in conjunction with the Company’s annual Form 10-K filing. In the opinion of management, the interim financial statements reflect all adjustments (consisting of normal, recurring adjustments) that are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year and pursuant to the rules and regulations of the SEC. Net loss per common share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. At June 30, 2017, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented. Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal Depository Insurance Corporation coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature. Use of estimates The preparation of financial statements in conformity with GAAP 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. Income taxes The Company complies with the accounting and reporting requirements of FASB ASC Topic 740, “Income Taxes”, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. FASB ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions 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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits as of June 30, 2017. No amounts were accrued for the payment of interest and penalties at June 30, 2017. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The Company may be subject to potential examination by U.S. federal, U.S. states or foreign jurisdiction authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with U.S. federal, U.S. state and foreign tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. 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 did not have any cash equivalents as of June 30, 2017 and December 31, 2016. Cash and securities held in Trust Account At June 30, 2017 and December 31, 2016, substantially all of the assets held in the Trust Account were held in U.S. Treasury Bills. Accrued expenses and due to affiliate Accrued expenses represent amounts the Company owes to its vendors, for which service has been provided but the Company has not paid for and state franchise tax. At June 30, 2017 and December 31, 2016 there was approximately $104,000 and $83,000, respectively, accrued for state franchise tax in the Company’s accrued expenses. Due to affiliate represents entity costs and offering costs paid by an affiliate on behalf of the Company. These advances are non-interest bearing, unsecured and payable on demand. Redeemable common stock As discussed in Note 5, 4,000,000 of the 5,000,000 shares of common stock sold as part of the units in the Public Offering contain a redemption feature which allows for the redemption of common stock under the Company’s liquidation or tender offer/stockholder approval provisions. In accordance with ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Public Shares in an amount that would cause its net tangible assets (stockholders’ equity) to be less than $5,000,001. Accordingly, at June 30, 2017 and December 31, 2016, 4,000,000 of the 5,000,000 Public Shares were classified outside of permanent equity at its redemption value. As described in Note 2, in connection with the Extension, 963,112 of the Company’s outstanding shares of common stock were redeemed subsequent to June 30, 2017. Recently issued accounting standards Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s interim financial statements.

Public Offering

Public Offering	6 Months Ended
	Jun. 30, 2017
Public Offering [Abstract]
PUBLIC OFFERING	4. PUBLIC OFFERING On July 29, 2015, the Company sold 5,000,000 units at a purchase price of $10.00 per unit (“Public Units”) in the Public Offering. Each Public Unit consists of one share of the Company’s common stock, $0.0001 par value, and one common stock purchase warrant. The Company did not register the shares of common stock issuable upon exercise of the warrants at the time of the Public Offering. However, the Company has agreed to use its best efforts to file and have an effective registration statement covering the shares of common stock issuable upon exercise of the warrants, to maintain a current prospectus relating to those shares of common stock until the earlier of the date the warrants expire or are redeemed and, the date on which all of the warrants have been exercised and to qualify the resale of such shares under state blue sky laws, to the extent an exemption is not available. Each warrant will entitle the holder to purchase one-half of one share of common stock at an exercise price of $5.75 per half share ($11.50 per whole share). Warrants may be exercised only for a whole number of shares of common stock. No fractional shares will be issued upon exercise of the warrants. The warrants will become exercisable on the later of (a) 30 days after the consummation of its initial Business Combination, or (b) 12 months from the closing of the Public Offering. The warrants will expire at 5:00 p.m., New York time, five years after the consummation of its initial Business Combination or earlier upon redemption or liquidation. On the exercise of any warrant, the warrant exercise price will be paid directly to us and not placed in the Trust Account. The warrants will be redeemable by the Company at a price of $0.01 per warrant upon 30 days prior written notice after the warrants become exercisable, only in the event that the last sale price of the common stock equals or exceeds $24.00 per share for any 20 trading days within a 30-trading day period ending on the third business day prior to the date on which notice of redemption is given. The Company paid an upfront underwriting discount of $1,250,000 (approximately 2.5% of the gross proceeds of the Public Offering) to the underwriters at the closing of the Public Offering. The amount was charged to the additional paid in capital account. The Company sold to the underwriter (and/or its designees), for $100, as additional compensation, an option to purchase up to a total of 400,000 units exercisable at $10.00 per unit (or an aggregate exercise price of $4,000,000) upon the closing of the Public Offering. Since the option is not exercisable until the earliest on the closing the initial Business Combination, the option will effectively represent the right to purchase up to 400,000 shares of common stock and 400,000 warrants to purchase 200,000 shares at $11.50 per full share for an aggregate maximum amount of $6,300,000. The units issuable upon exercise of this option are identical to those issued in the Public Offering. (See Note 6).

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	5. RELATED PARTY TRANSACTIONS Founder shares In April 2015, the Sponsor purchased 1,504,688 shares of the Company’s common stock (the “Founder Shares”) for $25,000, or $0.01662 per share, which included an aggregate of 192,188 Founder Shares that were subject to forfeiture by the Sponsor to the extent that the overallotment option was not exercised by the underwriter. In June 2015, our Sponsor transferred 164,063 Founder Shares to each of Tim Richerson, our Chief Executive Officer, and Peter Nathanial, our President, as well as 3,000 Founder Shares to each of Messrs. Jetta and Qu, our independent directors. These 334,126 Founder Shares were not subject to forfeiture in the event the underwriter’s overallotment option was not exercised in full. The Founder Shares are identical to the shares of common stock included in the Units sold in the Public Offering, except that (1) the founder shares are subject to certain transfer restrictions, as described in more detail below, and (2) our initial stockholders have agreed: (i) to waive their redemption rights with respect to their founder shares in connection with the consummation of a Business Combination and (ii) to waive their redemption rights with respect to their founder shares if we fail to complete our Business Combination within the required timeframe. However, our initial stockholders will be entitled to redemption rights with respect to any public shares they hold by way of public market purchase if we fail to consummate a Business Combination within such time period. If we submit our initial Business Combination to our public stockholders for a vote, our initial stockholders have agreed to vote their shares and any public shares held in favor of our initial Business Combination. The initial stockholders own founder shares equal to 20.0% of the Company’s issued and outstanding shares (not including the placement shares). On September 8, 2015, the Sponsor forfeited 192,188 Founder Shares since the overallotment was not exercised, so that the initial stockholders owned 20.0% of the Company’s issued and outstanding shares of common stock (not including the placement shares). Our initial stockholders have agreed not to transfer, assign or sell any of their Founder Shares until one year after our initial Business Combination (the “lock up”). Notwithstanding the foregoing, if the last sale price of our common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial Business Combination, or if we consummate a transaction after our initial Business Combination which results in our stockholders having the right to exchange their shares for cash or property, the Founder Shares will be released from the lock-up. The Sponsor purchased an aggregate of 3,000,000 units in the Public Offering. The Sponsor has agreed that it will not seek redemption of 1,000,000 shares included in such units. Founder shares In July 2015, the Sponsor purchased 250,000 placement units, each consisting of one share of common stock and one warrant to purchase one-half of one share of common stock at a price of $5.75 per half share, at a price of $10.00 per unit ($2,500,000 in the aggregate,) in a private placement that occurred simultaneously with the completion of the Public Offering. In addition, possible working capital loans by our Sponsor, management team, their affiliates and other third parties may be converted into warrants of the post-business combination entity at a price of $0.50 per warrant (a maximum of 1,000,000 warrants if up to $500,000 is loaned and that amount is converted into warrants). The placement warrants, and the loan warrants, if any, are (or will be) identical to the warrants sold in the Public Offering, except that, if held by our Sponsor or its permitted assigns, they (a) may be exercised for cash or on a cashless basis; (b) are not subject to being called for redemption and (c) they (including the common stock issuable upon exercise of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the consummation of our initial Business Combination. The Sponsors have agreed that the warrants purchased will not be sold or transferred until 30 days following consummation of a Business Combination, subject to certain limited exceptions. If the Company does not complete a Business Combination, then the proceeds will be part of the liquidating distribution to the public stockholders and the warrants issued to the initial stockholders will expire worthless. The private placement warrants and the common shares issuable upon exercise of the private placement warrants will not be transferable, assignable or salable until 30 days after the consummation of our initial Business Combination and the placement warrants will be non-redeemable so long as they are held by our Sponsor or its affiliates or designees. If the private placement warrants are held by someone other than the Sponsor, or its respective permitted transferees, the private placement warrants will be redeemable by us and exercisable by such holders on the same basis as the warrants included in the Units sold in the Public Offering. Due to Affiliates For the period from April 10, 2015 (inception) through December 31, 2016, the Company’s Sponsor advanced to us a total, net of repayments, of $140,500 which has been used for the payment of costs associated with the Public Offering. These advances are non-interest bearing, unsecured and due on demand. Total amounts due to the sponsor were $140,500 at June 30, 2017 and December 31, 2016, respectively. For the period from April 10, 2015 (inception) through December 31, 2016, an officer of the Company advanced us approximately $53,000 for expenses related to the Public Offering. These advances were repaid as of December 31, 2016. In order to finance transaction costs in connection with an intended initial Business Combination, our Sponsor or an affiliate of our Sponsor or certain of our officers and directors may, but are not obligated to, loan us funds as may be required. If we consummate an initial Business Combination, we would repay such loaned amounts. In the event that the initial Business Combination does not close, we may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment, other than the interest income earned thereon. Up to $1,000,000 of such loans may be convertible into warrants of the post Business Combination entity at a price of $0.50 per warrant at the option of the lender. The warrants would be identical to the placement warrants. The terms of such loans by our Sponsors, officers and directors, if any, have not been determined and no written agreements exist with respect to such loans.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	6. COMMITMENTS AND CONTINGENCIES The underwriter was entitled to an underwriting discount of two and a half percent (2.5%), which was paid in cash. The Company sold to the underwriter (and/or its designees), for $100, as additional compensation, an option to purchase up to a total of 400,000 units exercisable at $10.00 per unit (or an aggregate exercise price of $4,000,000) upon the closing of the Public Offering. Since the option is not exercisable until the earliest on the closing of our initial Business Combination, the option will effectively represent the right to purchase up to 400,000 shares of common stock and 400,000 warrants to purchase 200,000 shares at $11.50 per full share for an aggregate maximum amount of $6,300,000. The units issuable upon exercise of this option are identical to those offered in the Public Offering. This option may be exercised during the five-year period from the date of the Public Offering commencing on the later of the consummation of an initial Business Combination and the one-year anniversary of the date of the Public Offering. The Company accounts for the fair value of the unit purchase option, net of the receipt of the $100 cash payment, as an expense of the Public Offering resulting in a charge directly to stockholders’ equity. The Company estimates the fair value of this unit purchase option is approximately $2.02 per unit (for a total fair value of approximately $669,114) using a Black-Scholes option-pricing model. The fair value of the unit purchase option granted to the underwriter is estimated as of the date of grant using the following assumptions: (1) expected volatility of 11.15%, (2) risk-free interest rate of 1.36% and (3) expected life of 5 years. Because the Company’s units do not have a trading history, the volatility assumption is based on information currently available to management. The volatility assumption was calculated using the average volatility of exchange-traded funds tracking various indices, which are representative of the sectors on which the company intends to focus for the initial business transaction, including: Fidelity Select Consumer Staples Portfolio, Rydex Consumer Products Fund, Icon Consumer Staples, Putnam Global Consumer Fund, and Vanguard Consumer Staples ETF. The Company believes that the volatility estimate is a reasonable benchmark to use in estimating the expected volatility of the units. Although an expected life of five years was used in the calculation, if the Company does not consummate a Business Combination within the prescribed time period and it liquidates, the option will become worthless. The unit purchase option may be exercised for cash or on a “cashless” basis, at the holder’s option, 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 cash.

Trust Account

Trust Account	6 Months Ended
	Jun. 30, 2017
Trust Account [Abstract]
TRUST ACCOUNT	7. TRUST ACCOUNT A total of $50,000,000, which includes $47,500,000 of the net proceeds from the Public Offering and $2,500,000 from the sale of the Private Warrants, has been placed in the Trust Account. As of June 30, 2017 and December 31, 2016, the balance in the Trust Account was $50,058,699 and $50,109,326, respectively. As of June 30, 2017, the Company’s Trust Account consisted of $50,028,073 in U.S. Treasury Bills, $3,090 in accrued interest and $27,536 in cash. As of December 31, 2016, the Company’s Trust Account consisted of $49,940,597 in U.S. Treasury Bills, $5,400 in accrued interest and $163,329 in cash. The Company classifies its U. S. Treasury and equivalent securities as held-to-maturity in accordance with FASB 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 June 30, 2017 and December 31, 2016 balance sheets and adjusted for the amortization or accretion of premiums or discounts. The carrying amount, excluding interest income, gross unrealized holding gains and fair value of held-to-maturity securities at June 30, 2017 and December 31, 2016 are as follows: Held-To-Maturity Carrying Accrued Interest Fair Value June 30, 2017 U.S. Treasury Bills $ 50,028,073 $ 3,089 $ 50,031,162 December 31, 2016 U.S. Treasury Bills $ 49,940,597 $ 5,400 $ 49,945,997 As discussed in Note 2, the Trust Amendment extended the date on which to commence liquidating the Trust Account in the event the Company has not consummated a Business Combination from July 29, 2017 to January 29, 2018. In connection with the Extension, 963,112 of the Company’s outstanding shares of common stock were redeemed subsequent to June 30, 2017, which left approximately $40.4 million in the Trust Account.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements [Abstract]
FAIR VALUE MEASUREMENTS	8. FAIR VALUE MEASUREMENTS The Company complies with ASC 820, “Fair Value Measurement”, for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2017, and December 31, 2016, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and includes situations where there is little, if any, market activity for the asset or liability: Description Total Value Quoted Prices Significant Significant Assets: June 30, 2017 Cash and U.S. Treasury Bills held in Trust Account $ 50,058,698 $ 50,031,162 $ - $ - December 31, 2016 Cash and U.S. Treasury Bills held in Trust Account $ 49,945,997 $ 49,945,997 $ - $ - As discussed in Note 2, the Trust Amendment extended the date on which to commence liquidating the Trust Account in the event the Company has not consummated a Business Combination from July 29, 2017 to January 29, 2018. In connection with the Extension, 963,112 of the Company’s outstanding shares of common stock were redeemed subsequent to June 30, 2017, which left approximately $40.4 million in the Trust Account.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity [Abstract]
STOCKHOLDERS' EQUITY	9. STOCKHOLDERS’ EQUITY Common stock On October 30, 2015, the Company entered into a twelve-month consulting agreement (the “Agreement”) with FirsTrust China Ltd. (the “Consultant”), pursuant to which the Consultant agreed to provide advisory services relating to potential business combination transactions and the Company agreed to pay the Consultant a monthly fee of $20,000, payable quarterly in advance. In addition, the Company agreed to issue to the Consultant 20,000 restricted shares of the Company’s common stock upon the closing of the Company’s initial Business Combination. The Company estimated the fair value of the shares issuable to the Consultant to be $195,200 and has fully expensed the amount as of December 31, 2016. The Consultant was entitled to piggy-back registration rights relating to such shares similar to the piggy-back registration rights granted to the Company’s initial stockholders. During the year ended December 31, 2016, the Company recorded $150,134 in its consulting expenses. On June 10, 2016, the Company and the Consultant entered into a termination agreement, pursuant to which the Company and Consultant mutually agreed to terminate the Agreement in exchange for a $60,000 termination fee. Further, the Consultant agreed that the Company shall have no further obligations to the Consultant, including but not limited to the Company’s obligation to issue shares to the Consultant upon the closing of the Company’s initial Business Combination. Accordingly, the Company wrote off the unamortized $65,066 prepaid consulting expenses. The Company is authorized to issue 15,000,000 shares of common stock with a par value of $0.0001 per share. Holders of the Company’s common stock are entitled to one vote for each share of common stock. At June 30, 2017 and December 31, 2016, there were 6,562,500 shares of common stock issued and outstanding (including 4,000,000 shares of common stock subject to redemption). See Note 2 for redemptions made subsequent to June 30, 2017. Preferred stock The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share. At June 30, 2017 and December 31, 2016, there were no shares of preferred stock issued and outstanding. The rights privileges, restrictions and conditions of the preferred shares have not been determined. Options In July 2016, the board of directors of the Company appointed two new directors. In August, the Sponsor granted an option to each of the two new directors to acquire 6,000 shares of common stock at a price of $9.79 per share exercisable commencing six months after closing of the initial Business Combination and expiring five years from the closing of the initial Business Combination. The Company estimates the fair value of the purchase options at $15,546 using a Black-Scholes option-pricing model and recorded $15,546 as compensation expenses accordingly for the year ended December 31, 2016.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	10. SUBSEQUENT EVENTS In July 2017, a third party individual advanced approximately $89,000 to the Company for working capital purposes. The advance is non-interest bearing, unsecured and due on demand. The Extension and Trust Amendment occurred subsequent to June 30, 2017 are described in Note 2. The date on which the Company must commence the liquidation of the Trust Account established in connection with the Company’s Initial Public Offering was extended from July 29, 2017 to January 29, 2018. Following redemptions of 963,112 of the Company’s shares in connection with the Extension, a total of approximately $40.4 million remains in the Trust Account.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited interim financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (’‘GAAP’’) for interim information and in accordance with the instructions to Form 10-Q and Article 8 and Article 10 of Regulation S-X. Accordingly, since they are interim statements, the accompanying financial statements do not include all of the information and notes required by GAAP for a complete financial statement presentation. These financial statements should be read in conjunction with the Company’s annual Form 10-K filing. In the opinion of management, the interim financial statements reflect all adjustments (consisting of normal, recurring adjustments) that are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year and pursuant to the rules and regulations of the SEC.
Net loss per common share	Net loss per common share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. At June 30, 2017, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented.
Concentration of credit risk	Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal Depository Insurance Corporation coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Fair value of financial instruments	Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature.
Use of estimates	Use of estimates The preparation of financial statements in conformity with GAAP 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 revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income taxes	Income taxes The Company complies with the accounting and reporting requirements of FASB ASC Topic 740, “Income Taxes”, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. FASB ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions 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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits as of June 30, 2017. No amounts were accrued for the payment of interest and penalties at June 30, 2017. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The Company may be subject to potential examination by U.S. federal, U.S. states or foreign jurisdiction authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance with U.S. federal, U.S. state and foreign tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
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 did not have any cash equivalents as of June 30, 2017 and December 31, 2016.
Cash and securities held in Trust Account	Cash and securities held in Trust Account At June 30, 2017 and December 31, 2016, substantially all of the assets held in the Trust Account were held in U.S. Treasury Bills.
Accrued expenses and due to affiliate	Accrued expenses and due to affiliate Accrued expenses represent amounts the Company owes to its vendors, for which service has been provided but the Company has not paid for and state franchise tax. At June 30, 2017 and December 31, 2016 there was approximately $104,000 and $83,000, respectively, accrued for state franchise tax in the Company’s accrued expenses. Due to affiliate represents entity costs and offering costs paid by an affiliate on behalf of the Company. These advances are non-interest bearing, unsecured and payable on demand.
Redeemable common stock	Redeemable common stock As discussed in Note 5, 4,000,000 of the 5,000,000 shares of common stock sold as part of the units in the Public Offering contain a redemption feature which allows for the redemption of common stock under the Company’s liquidation or tender offer/stockholder approval provisions. In accordance with ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. Ordinary liquidation events, which involve the redemption and liquidation of all of the entity’s equity instruments, are excluded from the provisions of ASC 480. Although the Company did not specify a maximum redemption threshold, its charter provides that in no event will it redeem its Public Shares in an amount that would cause its net tangible assets (stockholders’ equity) to be less than $5,000,001. Accordingly, at June 30, 2017 and December 31, 2016, 4,000,000 of the 5,000,000 Public Shares were classified outside of permanent equity at its redemption value. As described in Note 2, in connection with the Extension, 963,112 of the Company’s outstanding shares of common stock were redeemed subsequent to June 30, 2017.
Recently issued accounting standards	Recently issued accounting standards Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s interim financial statements.

Trust Account (Tables)

Trust Account (Tables)	6 Months Ended
	Jun. 30, 2017
Trust Account [Abstract]
Schedule of trust account	Held-To-Maturity Carrying Accrued Interest Fair Value June 30, 2017 U.S. Treasury Bills $ 50,028,073 $ 3,089 $ 50,031,162 December 31, 2016 U.S. Treasury Bills $ 49,940,597 $ 5,400 $ 49,945,997

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements [Abstract]
Schedule of fair value measurements	Description Total Value Quoted Prices Significant Significant Assets: June 30, 2017 Cash and U.S. Treasury Bills held in Trust Account $ 50,058,698 $ 50,031,162 $ - $ - December 31, 2016 Cash and U.S. Treasury Bills held in Trust Account $ 49,945,997 $ 49,945,997 $ - $ -

Description of Organization a20

Description of Organization and Business Operations (Details) - USD ($)	1 Months Ended		6 Months Ended
	Jul. 27, 2017	Jul. 29, 2015	Jun. 30, 2017
Description of Organization and Business Operations (Textual)
Shares held in trust account			$ 50,000,000
Minimum net tangible assets			$ 5,000,001
Trust account description			(i) the completion of the Business Combination; or (ii) the redemption of 100% of the outstanding public shares included in the units sold in the Public Offering if the Company is unable to complete the Business Combination within the required timeframe.
Redemption price per share			$ 10
Subsequent Event [Member]
Description of Organization and Business Operations (Textual)
Value of shares remains in Trust Account	$ 40,400,000
Public Offering [Member]
Description of Organization and Business Operations (Textual)
Common stock sale price		$ 10
Sale of stock to sponsor		$ 2,500,000
Sale of stock to sponsor, shares		250,000
Additional shares issued to sponsor, Shares			3,000,000
Non-redeemable shares			1,000,000
Maturity period		180 days
Percentage of gross proceeds of proposed offering		100.00%
Shares held in trust account		$ 50,000,000
Minimum net tangible assets		$ 5,000,001
Terms of initial business combination		The Sponsor has agreed that it will not seek redemption of 1,000,000 shares of the 3,000,000 shares purchased in the Public Offering. In the event that the Company is unable to complete its initial Business Combination within the required time frame, the non-redeemable 1,000,000 Sponsor shares will be entitled to the liquidation rights described in the "Business Combination" section.

Extention and Trust Amendment (

Extention and Trust Amendment (Details) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Jul. 27, 2017USD ($)shares
Extention and Trust Amendment (Textual)
Value of shares remains in Trust Account | $	$ 40.4
Redemptions of shares in connection with the Extension | shares	963,112
Affirmative vote percentage of Company's outstanding shares	98.30%

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 27, 2017	Jun. 30, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies (Textual)
Federal depository insurance		$ 250,000
Minimum net tangible assets		5,000,001
Accrued state franchise tax		104,000	$ 83,000
Unrecognized tax benefits
Payment of interest and penalties
Subsequent Event [Member]
Summary of Significant Accounting Policies (Textual)
Redemptions of shares in connection with Extension	963,112
Redeemable common stock [Member]
Summary of Significant Accounting Policies (Textual)
Sale of common stock shares		5,000,000	5,000,000
Redeemable permanent equity, shares		4,000,000	4,000,000
Terms of redeemable common stock		4,000,000 of the 5,000,000 shares of common stock sold as part of the units in the Public Offering contain a redemption feature which allows for the redemption of common stock under the Company's liquidation or tender offer/stockholder approval provisions.

Public Offering (Details)

Public Offering (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 29, 2015	Jun. 30, 2017	Dec. 31, 2016
Public Offering (Textual)
Common stock, par value		$ 0.0001	$ 0.0001
Public Offering [Member]
Public Offering (Textual)
Common stock sold	5,000,000
Common stock sale price	$ 10
Common stock, par value	$ 0.0001
Common stock rights, description	Each warrant will entitle the holder to purchase one-half of one share of common stock at an exercise price of $5.75 per half share ($11.50 per whole share).
Warrant, description	The warrants will become exercisable on the later of (a) 30 days after the consummation of its initial Business Combination, or (b) 12 months from the closing of the Public Offering. The warrants will expire at 5:00 p.m., New York time, five years after the consummation of its initial Business Combination or earlier upon redemption or liquidation.
Underwriting discount		$ 1,250,000
Underwriting discount percentage		2.50%
Stock option exercisable, shares		400,000
Aggregate exercise price of stock option		$ 4,000,000
Exercise price of option per unit		$ 10
Additional compensation		$ 100
Warrant redemption, description	The warrants will be redeemable by the Company at a price of $0.01 per warrant upon 30 days prior written notice after the warrants become exercisable, only in the event that the last sale price of the common stock equals or exceeds $24.00 per share for any 20 trading days within a 30-trading day period ending on the third business day prior to the date on which notice of redemption is given.
Proceeds from warrant exercises		6,300,000
Maximum shares of common stock purchase by option rights		$ 400,000
Number of warrant issued		400,000
Aggregate maximum amount of warrants		200,000
Purchase price of shares		$ 11.5

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 08, 2015	Jul. 31, 2015	Jul. 29, 2015	Jun. 30, 2015	Apr. 30, 2015	Jun. 30, 2017	Dec. 31, 2016	Jul. 31, 2016
Related Party Transactions (Textual)
Common stock share price								$ 9.79
Business combination, description						Our initial stockholders have agreed not to transfer, assign or sell any of their Founder Shares until one year after our initial Business Combination (the "lock up"). Notwithstanding the foregoing, if the last sale price of our common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial Business Combination, or if we consummate a transaction after our initial Business Combination which results in our stockholders having the right to exchange their shares for cash or property, the Founder Shares will be released from the lock-up.
Price per warrant						$ 0.50
Loans convertible into warrants						$ 1,000,000
Total, net of repayments							$ 140,500
Payment of expenses related to the public offering							53,000
Over allotment option [Member]
Related Party Transactions (Textual)
Forfeiture of common stock by sponsor	192,188			334,126
Percentage of common stock own by initial stockholders	20.00%
Public Offering [Member]
Related Party Transactions (Textual)
Common stock share price						$ 2.02
Common stock sale price			$ 10
Sale of stock to sponsor			$ 2,500,000
Sale of stock to sponsor, shares			250,000
Additional shares issued to sponsor, shares						3,000,000
Non-redeemable shares						1,000,000
Founder [Member]
Related Party Transactions (Textual)
Common stock share price					$ 0.01662
Forfeiture of common stock by sponsor					192,188
Sale of stock to sponsor					$ 25,000
Sale of stock to sponsor, shares					1,504,688
Percentage of common stock own by initial stockholders					20.00%
Sponsor [Member]
Related Party Transactions (Textual)
Common stock share price		$ 5.75
Common stock sale price		$ 10
Sale of stock to sponsor		$ 2,500,000
Sale of stock to sponsor, shares		250,000
Sale of stock, description		(a) may be exercised for cash or on a cashless basis; (b) are not subject to being called for redemption and (c) they (including the common stock issuable upon exercise of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the consummation of our initial Business Combination. The Sponsors have agreed that the warrants purchased will not be sold or transferred until 30 days following consummation of a Business Combination, subject to certain limited exceptions.
Due to affiliates						$ 140,500	$ 140,500
Price per warrant		$ 0.50
Terms of loan warrants		A maximum of 1,000,000 warrants if up to $500,000 is loaned and that amount is converted into warrants.
Tim Richerson [Member]
Related Party Transactions (Textual)
Sale of stock to sponsor, shares				164,063
Peter Nathanial [Member]
Related Party Transactions (Textual)
Sale of stock to sponsor, shares				164,063
Mrs. Jetta [Member]
Related Party Transactions (Textual)
Sale of stock to sponsor, shares				3,000
Mrs. Qu [Member]
Related Party Transactions (Textual)
Sale of stock to sponsor, shares				3,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2016
Commitments and Contingencies (Textual)
Share price		$ 9.79
Stock option fair value	$ 669,114
Expected volatility	11.15%
Risk-free interest rate	1.36%
Expected life	5 years
Public Offering [Member]
Commitments and Contingencies (Textual)
Exercise price per share	$ 10
Underwriting discount	2.50%
Additional compensation	$ 100
Stock option exercise price	$ 4,000,000
Stock option exercise price, shares	400,000
Underwriting commitments, description	This option may be exercised during the five-year period from the date of the Public Offering commencing on the later of the consummation of an initial Business Combination and the one-year anniversary of the date of the Public Offering.
Share price	$ 2.02
Public offering expense	$ 100
Maximum shares of common stock purchase by option rights	400,000
Number of warrant issued	400,000
Warrants issued to purchase shares	200,000
Purchase price of shares	$ 11.50
Aggregate maximum amount	$ 6,300,000

Trust Account (Details)

Trust Account (Details) - U.S.Treasury Bills [Member] - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Schedule of trust account
Carrying Amount	$ 50,028,073	$ 49,940,597
Accrued Interest	3,089	5,400
Fair Value	$ 50,031,162	$ 49,945,997

Trust Account (Details Textual)

Trust Account (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 27, 2017	Jun. 30, 2017	Dec. 31, 2016
Trust Account (Textual)
Total trust account		$ 50,000,000
Proceeds from the public offering, net		47,500,000
Proceeds from sale of units in private warrants		2,500,000
Trust account balance		50,058,699	$ 50,109,326
U.S.Treasury Securities [Member]
Trust Account (Textual)
Trust account in U.S. treasury bills		50,028,073	49,940,597
Accrued interest		3,090	5,400
Cash		$ 27,536	$ 163,329
Subsequent Events [Member]
Trust Account (Textual)
Value of shares remains in Trust Account	$ 40,400,000
Redemptions of shares in connection with Extension	963,112

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Assets:
Cash and U.S. Treasury Bills held in Trust Account, Total Value	$ 50,058,698	$ 49,945,997
Quoted Prices in Active Markets (Level 1) [Member]
Assets:
Cash and U.S. Treasury Bills held in Trust Account, Total Value	50,031,162	49,945,997
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash and U.S. Treasury Bills held in Trust Account, Total Value
Significant Other Unobservable Inputs (Level 3) [Member]
Assets:
Cash and U.S. Treasury Bills held in Trust Account, Total Value

Fair Value Measurements (Deta29

Fair Value Measurements (Details Textual) - Subsequent Events [Member] $ in Millions	1 Months Ended
	Jul. 27, 2017USD ($)shares
Fair Value Measurements (Textual)
Redemptions of shares in connection with Extension | shares	963,112
Value of shares remains in Trust Account | $	$ 40.4

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Jun. 10, 2016	Jul. 31, 2016	Oct. 30, 2015	Jun. 30, 2017	Dec. 31, 2016
Stockholders' Equity (Textual)
Common stock, shares authorized				15,000,000	15,000,000
Common stock, par value				$ 0.0001	$ 0.0001
Common stock, shares issued				2,562,500	2,562,500
Common stock, shares outstanding				2,562,500	2,562,500
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, redemption shares				4,000,000	4,000,000
Consultant fee monthly			$ 20,000
Consulting expenses					$ 150,134
Prepaid consulting expense				$ 65,066
Restricted shares to consultant			20,000
Fair value of shares issuable to consultant			$ 195,200
Termination fee	$ 60,000
Shares acquired by two new directors		6,000
Fair value of purchase options					15,546
Compensation expense					$ 15,546
Common stock share price		$ 9.79
Description of business combination		Each of the two new directors to acquire 6,000 shares of common stock at a price of $9.79 per share exercisable commencing six months after closing of the initial Business Combination and expiring five years from the closing of the initial Business Combination.
Common Stock [Member]
Stockholders' Equity (Textual)
Common stock, shares authorized				15,000,000
Common stock, par value				$ 0.0001
Common stock, shares issued				6,562,500	6,562,500
Common stock, shares outstanding				6,562,500	6,562,500
Common stock, voting rights				Holders of the Company's common stock are entitled to one vote for each share of common stock.
Preferred Stock [Member]
Stockholders' Equity (Textual)
Preferred stock, shares authorized				1,000,000
Preferred stock, par value				$ 0.0001
Preferred stock, shares issued
Preferred stock, shares outstanding

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Events [Member]	1 Months Ended
	Jul. 27, 2017USD ($)shares
Subsequent Events (Textual)
Advance received for working capital	$ 89,000
Value of shares remains in Trust Account	$ 40,400,000
Redemptions of shares in connection with Extension | shares	963,112