Infrastructure and Energy Alternatives (IEA) 10-Q 22 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 22, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	M III Acquisition Corp.
Entity Central Index Key	1,652,362
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	MIIIU
Entity Common Stock, Shares Outstanding		19,772,500

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)		Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash		$ 8,138	$ 31,691
Deferred offering costs		268,454	105,000
Total Assets		276,592	136,691
Liabilities and Stockholders' Equity
Note payable and advances from Sponsor		252,766	112,500
Total Liabilities		252,766	112,500
Commitments
Stockholders' Equity
Preferred stock, $0.0001 par value; 1,000,000 share authorized, none issued or outstanding		0	0
Common stock, $0.0001 par value, 35,000,000 shares authorized; 5,031,250 shares issued and outstanding	[1]	503	503
Additional Paid-in Capital		24,497	24,497
Accumulated Deficit		(1,174)	(809)
Total Stockholders' Equity		23,826	24,191
Total Liabilities and Stockholders' Equity		$ 276,592	$ 136,691
[1]	The number includes an aggregate of 718,750 shares that were returned and cancelled in July 2016 and up to 562,500 shares subject to forfeiture to the extent the underwriters' over-allotment option is not exercised in full. The accompanying notes are an integral part of the financial statements

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	35,000,000	35,000,000
Common Stock, Shares, Issued	5,031,250	5,031,250
Common Stock, Shares, Outstanding	5,031,250	5,031,250
Stock Repurchased and Retired During Period, Shares	718,750
Number of Shares Subject to Forfeiture	562,500

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)		3 Months Ended	6 Months Ended
		Jun. 30, 2016	Jun. 30, 2016
Formation and operating costs		$ (230)	$ (365)
Net loss		$ (230)	$ (365)
Weighted average number of common shares outstanding - basic and diluted	[1]	4,375,000	4,375,000
Net loss per common share - basic and diluted		$ 0	$ 0
[1]	Excludes an aggregate of 562,500 shares subject to forfeiture to the extent the underwriters' over-allotment option is not exercised in full.

Condensed Statements of Operat5

Condensed Statements of Operations (Parenthetical)	6 Months Ended
	Jun. 30, 2016shares
Number of Shares Subject to Forfeiture	562,500

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows	6 Months Ended
	Jun. 30, 2016USD ($)
Cash flows from operating activities:
Net loss	$ (365)
Net cash used in operating activities	(365)
Cash flows from financing activities
Proceeds from Note Payable to Sponsor and advances	140,266
Payment of offering costs	(163,453)
Net cash used in financing activities	(23,187)
Net decrease in cash	(23,553)
Cash at beginning of the period	31,691
Cash at the end of the period	$ 8,138

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 — DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Organization and General: M III Acquisition Corp. (the ‘‘Company’’) was incorporated in Delaware on August 4, 2015 At June 30, 2016, the Company had not commenced any operations. All activity through June 30, 2016 relates to the Company’s formation and the initial public offering (‘‘Offering’’) described below. The Company will not generate any operating revenues until after completion of its initial business combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Offering which is held in the Trust Account (defined below) . The registration statement for the Company’s initial public offering (the “Offering”) was declared effective on July 6, 2016. On July 12, 2016 the Company consummated the Offering of 15,000,000 10.00 150,000,000 Simultaneously with the closing of the Offering, the Company consummated the sale of 460,000 10.00 4,600,000 On July 12, 2016 the underwriter of the Offering inadvertently transferred an incremental $ 3.4 125,500 In connection with the repayment of the Note Payable to Sponsor at the closing of the Offering on July 12, 2016, the Company made an overpayment amounting to $ 256,544 Sponsor and Offering: The Company’s sponsor is M III Sponsor I, LLC, a Delaware limited liability corporation and M III Sponsor I LP (‘‘M III LLC’’ and ‘‘M III LP’’, respectively and collectively, the ‘‘Sponsor’’). The Company intends to finance a Business Combination with proceeds from the funds raised in the $ 150,000,000 4,600,000 150,000,000 172,500,000 In addition to the $150,000,000 of net proceeds that were placed into the Trust Account, an overfunded amount of $ 3,400,000 The Trust Account: Following the closing of the Offering and private placement on July 12, 2016, an amount of $ 150.0 3.4 The Company’s amended and restated certificate of incorporation provides that, other than the withdrawal of interest to pay taxes or up to $ 50,000 Business Combination: The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Offering, although substantially all of the net proceeds of the Offering are intended to be generally applied toward consummating a Business Combination with (or acquisition of) a Target Business. As used herein, a ‘‘Target Business’’ is one or more target businesses that together have a fair market value equal to at least 80 The Company, after signing a definitive agreement for a Business Combination, will either (i) seek stockholder approval of the Business Combination at a meeting called for such purpose in connection with which stockholders may seek to redeem their shares, regardless of whether they vote for or against the Business Combination, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest but less taxes payable, or (ii) provide stockholders with the opportunity to sell their shares to the Company by means of a tender offer (and thereby avoid the need for a stockholder vote) for an amount in cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to commencement of the tender offer, including interest but less taxes payable. The decision as to whether the Company will seek stockholder approval of the Business Combination or will allow stockholders to sell their shares in a tender offer will be made by the Company, solely in its discretion, and will be based on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require the Company to seek stockholder approval unless a vote is required. If the Company seeks stockholder approval, it will complete its Business Combination only if a majority of the outstanding shares of common stock voted are voted in favor of the Business Combination. However, in no event will the Company redeem its Public Shares in an amount that would cause its net tangible assets upon consummation of its Business Combination to be less than $ 5,000,001 If the Company holds a stockholder vote or there is a tender offer for shares in connection with a Business Combination, a public stockholder will have the right to redeem its shares for an amount in cash equal to its pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Business Combination, including interest but less taxes payable. As a result, such shares of common stock are recorded at redemption amount and classified as temporary equity in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, ‘‘Distinguishing Liabilities from Equity.’’ The amount in the Trust Account is initially $10.00 per Public Share ($150,000,000 held in the Trust Account divided by 15,000,000 Public Shares) plus the $3,400,000 overfunded amount. The overfunded amount was subsequently returned on July 14, 2016. If the Company seeks stockholder approval of a Business Combination and it does not conduct redemptions in connection with a Business Combination pursuant to the tender offer rules, the Company's Amended and Restated Certificate of Incorporation provides that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a ''group'' (as defined under Section 13 of the Exchange Act) will be restricted from redeeming its shares with respect to more than an aggregate of 20 The Company must complete its Business Combination by July 12, 2018. If the Company does not complete a Business Combination by July 12, 2018, it shall (i) cease all operations except for the purposes of winding up; (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the Public Shares for a per share pro rata portion of the Trust Account, including interest, but less taxes payable (less up to $ 50,000 In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the initial public offering price per Unit in the Offering. In order to protect the amounts held in the Trust Account, the Company’s Chairman and Chief Executive Officer has agreed that he will be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a Business Combination, reduce the amount of funds in the Trust Account. This liability will not apply with respect to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters of the Offering against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, then the Company’s Chairman and Chief Executive Officer will not be responsible to the extent of any liability for such third party claims.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. Operating results for the three and six month periods ended June 30, 2016 are not necessarily indicative of future operating results. Please refer to the Form S-1 filed by the Company on April 19, 2016 with the SEC for the audited financial statements of the Company for the year ended December 31, 2015. Please also refer to the Form 8-K filed by the Company on July 18, 2016 with the SEC for the financial statements as of July 12, 2018, the date of the Offering. 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, 2016. Net Loss Per Common Share: Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period, excluding shares of common stock subject to forfeiture. Deferred Offering Costs: The Company complies with the requirements of the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A — “Expenses of Offering”. Deferred offering costs at June 30, 2016 and December 31, 2015 of $ 268,454 105,000 Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until 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) are required to comply with the new or revised financial accounting standards. 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 an election to opt out is irrevocable. The Company has 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. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $ 250,000 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 balance sheet. The preparation of financial statements in conformity with GAAP requires the Company’s 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. 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 and are 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 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. There were no uncertain tax benefits as of June 30, 2016. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2016. 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 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. Since the Company was incorporated on August 4, 2015, the evaluation was performed for the 2015 tax year, which will be the only period subject to examination upon filing of the appropriate tax returns. 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 financial statements. Management has evaluated subsequent events to determine if events or transactions occurring through the date the financial statements were issued that require potential adjustment to or disclosure in the balance sheet and has concluded that all such events that would require recognition or disclosure have been recognized or disclosed.

PUBLIC OFFERING

PUBLIC OFFERING	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
PUBLIC OFFERING Disclosure [Text Block]	NOTE 3 — PUBLIC OFFERING The Securities and Exchange Commission declared the Company's Registration Statement on Form S-1 effective on July 6, 2016. On July 12, 2016 the Company consummated the Offering of 15,000,000 10.00 0.0001 5.75 0.01 24.00 The Company granted the underwriters a 45-day option to purchase up to 2,250,000

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 4 — RELATED PARTY TRANSACTIONS Founder Shares In August 2015, M III LLC purchased an aggregate of 3,593,750 25,000 0.007 1,293,750 718,750 4,312,500 562,500 0.006 562,500 20.0 The Company’s initial stockholders have agreed not to transfer, assign or sell any of their Founder Shares until the earlier of (A) one year after the completion of the Company’s initial Business Combination, or (B) the date on which the Company completes a liquidation, merger, stock exchange or other similar transaction after the initial Business Combination that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property (the ‘‘Lock Up Period’’). If subsequent to the Company’s initial Business Combination, the last sale price of the Company’s 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 the Company’s initial Business Combination, or if the Company consummates a transaction after the initial Business Combination which results in the stockholders having the right to exchange their shares for cash, securities, or other property, the Founder Shares will be released from the lock-up. Private Placement Units On July 12, 2016 the Sponsor and Cantor Fitzgerald purchased from the Company an aggregate of 460,000 5.75 10.00 340,000 120,000 30 days 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 Private Placement Units and their component securities issued will expire worthless. Related Party Loans M III LLC had agreed to loan the Company an aggregate of $ 250,000 In order to finance transaction costs in connection with an initial Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes its Business Combination, the Company would repay such loaned amounts out of the proceeds released from the Trust Account. Otherwise, such loans would be repaid only out of funds held outside the Trust Account. In the event that the Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from the Trust Account would be used to repay such loaned amounts. Up to $ 1,000,000 0.50

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 5 — STOCKHOLDERS’ EQUITY Common Stock The authorized common stock of the Company includes up to 35,000,000 Holders of the Company’s common stock are entitled to one vote for each share of common stock. 5,031,250 562,500 Preferred Stock The Company is authorized to issue up to 1,000,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 6 — COMMITMENTS AND CONTINGENCIES Underwriting Agreement The Company paid an underwriting discount of 2 3.0 4 6.0 Registration Rights The Company’s initial stockholders and holders of the Private Placement Units (and their constituent securities) are entitled to registration rights pursuant to a registration rights agreement signed on the date of the prospectus for the Offering. The Company’s initial stockholders and holders of the Private Placement Units (and their constituent securities) are entitled to make up to three demands, excluding short form registration demands, that the Company register such securities for sale under the Securities Act. In addition, these holders will have ‘‘piggy-back’’ registration rights to include their securities in other registration statements filed by the Company. The Company will bear the expenses incurred in connection with the filing of any such registration statements. The registration rights agreement does not provide for any cash penalties or additional penalties associated with any delays in registering the securities.

SUMMARY OF SIGNIFICANT ACCOUN13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation: The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. Operating results for the three and six month periods ended June 30, 2016 are not necessarily indicative of future operating results. Please refer to the Form S-1 filed by the Company on April 19, 2016 with the SEC for the audited financial statements of the Company for the year ended December 31, 2015. Please also refer to the Form 8-K filed by the Company on July 18, 2016 with the SEC for the financial statements as of July 12, 2018, the date of the Offering.
Cash and Cash Equivalents, Policy [Policy Text Block]	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, 2016.
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Common Share: Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period, excluding shares of common stock subject to forfeiture.
Deferred Charges, Policy [Policy Text Block]	Deferred Offering Costs: The Company complies with the requirements of the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A — “Expenses of Offering”. Deferred offering costs at June 30, 2016 and December 31, 2015 of $ 268,454 105,000
Emerging Growth Company [Policy Text Block]	Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until 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) are required to comply with the new or revised financial accounting standards. 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 an election to opt out is irrevocable. The Company has 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.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk: Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal depository insurance coverage of $ 250,000
Fair Value of Financial Instruments, Policy [Policy Text Block]	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 balance sheet.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates: The preparation of financial statements in conformity with GAAP requires the Company’s 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 Tax, Policy [Policy Text Block]	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 and are 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 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. There were no uncertain tax benefits as of June 30, 2016. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at June 30, 2016. 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 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. Since the Company was incorporated on August 4, 2015, the evaluation was performed for the 2015 tax year, which will be the only period subject to examination upon filing of the appropriate tax returns.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements: 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 financial statements.
Subsequent Events, Policy [Policy Text Block]	Subsequent Events Management has evaluated subsequent events to determine if events or transactions occurring through the date the financial statements were issued that require potential adjustment to or disclosure in the balance sheet and has concluded that all such events that would require recognition or disclosure have been recognized or disclosed.

DESCRIPTION OF ORGANIZATION A14

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details Textual) - USD ($)	Jul. 12, 2016	Jul. 31, 2016	Jul. 18, 2016	Aug. 31, 2015	Jun. 30, 2016
Entity Incorporation, Date of Incorporation					Aug. 4, 2015
Stock Issued During Period, Shares, New Issues				3,593,750
Shares Issued, Price Per Share				$ 0.007
Stock Issued During Period, Value, New Issues				$ 25,000
Excess Shares, Restrictions on Redemption, Percentage					20.00%
Subsequent Event [Member]
Overfunded Amount Held In Trust			$ 3,400,000
Decommissioning Trust Assets Description		(i) the completion of the initial Business Combination; or (ii) the redemption of 100% of the shares of common stock included in the Units sold in the Offering if the Company is unable to complete a Business Combination by July 12, 2018 (subject to the requirements of law).
Assets Held-in-trust	$ 150,000,000
Decommissioning Fund Investments, Fair Value	3,400,000
Interest Expense, Trust Preferred Securities	$ 50,000	$ 50,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage	80.00%
Business Combination, Contingent Consideration, Asset	$ 5,000,001
Proceeds From Underwriter To Trust Account	3,400,000
Proceeds From Underwriter To Operating Account	125,500
Subsequent Event [Member] | Sponsor [Member]
Due from Related Parties	$ 256,544
Subsequent Event [Member] | IPO [Member]
Stock Issued During Period, Shares, New Issues	15,000,000
Shares Issued, Price Per Share	$ 10
Stock Issued During Period, Value, New Issues	$ 150,000,000
Proceeds from Issuance Initial Public Offering			150,000,000
Common Stock Held in Trust			150,000,000
Subsequent Event [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues		460,000
Shares Issued, Price Per Share		$ 10
Stock Issued During Period, Value, New Issues		$ 4,600,000
Proceeds from Issuance of Private Placement			4,600,000
Subsequent Event [Member] | Private Placement [Member] | Sponsor [Member]
Stock Issued During Period, Shares, New Issues	340,000
Subsequent Event [Member] | Over-Allotment Option [Member]
Common Stock Held in Trust			$ 172,500,000

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Cash, FDIC Insured Amount	$ 250,000
Deferred Offering Costs	$ 268,454	$ 105,000

PUBLIC OFFERING (Details Textua

PUBLIC OFFERING (Details Textual) - $ / shares	Jul. 12, 2016	Aug. 31, 2015	Jul. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Stock Issued During Period, Shares, New Issues		3,593,750
Shares Issued, Price Per Share		$ 0.007
Common Stock, Par or Stated Value Per Share	$ 0.0001			$ 0.0001	$ 0.0001
Subsequent Event [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 0.50
Subsequent Event [Member] | IPO [Member]
Warrants Expiration Term	5 years
Warrants Price Per Share	$ 0.01
Options Granted To Purchase Of Common Stock	2,250,000
Stock Issued During Period, Shares, New Issues	15,000,000
Shares Issued, Price Per Share	$ 10
Class of Warrant or Right, Exercise Price of Warrants or Rights	5.75
Share Price	$ 24
Class of Warrant or Right, Title of Security Warrants or Rights Outstanding	Each Warrant entitles the holder to purchase one-half of one share of common stock at a price of $5.75.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	Jul. 12, 2016	Jul. 06, 2016	Jul. 31, 2016	Aug. 31, 2015	Dec. 31, 2015	Jun. 30, 2016
Number of Shares Subject to Forfeiture						562,500
Stock Issued During Period, Shares, New Issues				3,593,750
Stock Issued During Period, Value, New Issues				$ 25,000
Shares Issued, Price Per Share				$ 0.007
Stock Repurchased During Period, Shares					1,293,750
Stock Repurchased and Retired During Period, Shares						718,750
Stockholders' Equity Note, Stock Split					the Company effectuated a 1.760-for-1 stock split in the form of a dividend
Proceeds from Related Party Debt						$ 140,266
Subsequent Event [Member]
Number of Shares Subject to Forfeiture		562,500
Stock Issued During Period Shares Period Lock-up Period Terms		(A) one year after the completion of the Company’s initial Business Combination, or (B) the date on which the Company completes a liquidation, merger, stock exchange or other similar transaction after the initial Business Combination that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property (the ‘‘Lock Up Period’’).
Stock Repurchased During Period, Shares		718,750
Stock Issued During Period, Shares, Stock Splits		4,312,500
Accelerated Share Repurchases, Initial Price Paid Per Share		$ 0.006
Stock Repurchased and Retired During Period, Shares		562,500
Equity Method Investment, Ownership Percentage		20.00%
Common Stock, Conversion Basis		If subsequent to the Companys initial Business Combination, the last sale price of the Companys 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 the Companys initial Business Combination, or if the Company consummates a transaction after the initial Business Combination which results in the stockholders having the right to exchange their shares for cash, securities, or other property, the Founder Shares will be released from the lock-up.
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 0.50
Debt Conversion, Original Debt, Amount			$ 1,000,000
Subsequent Event [Member] | M III LLC [Member]
Notes Payable	$ 250,000
Proceeds from Related Party Debt	$ 2,766
Subsequent Event [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues			460,000
Stock Issued During Period, Value, New Issues			$ 4,600,000
Shares Issued, Price Per Share			$ 10
Subsequent Event [Member] | Private Placement [Member] | Sponsor And Cantor Fitzerland [Member]
Stock Issued During Period Shares Period Lock-up Period Terms	30 days
Stock Issued During Period, Shares, New Issues	460,000
Shares Issued, Price Per Share	$ 10
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 5.75
Subsequent Event [Member] | Private Placement [Member] | Sponsor [Member]
Stock Issued During Period, Shares, New Issues	340,000
Subsequent Event [Member] | Private Placement [Member] | Cantor Fitzerland [Member]
Stock Issued During Period, Shares, New Issues	120,000

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - shares	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Number of Shares Subject to Forfeiture	562,500
Common Stock, Voting Rights	Holders of the Companys common stock are entitled to one vote for each share of common stock.
Common Stock, Shares Authorized	35,000,000	35,000,000
Common Stock, Shares, Issued	5,031,250	5,031,250
Common Stock, Shares, Outstanding	5,031,250	5,031,250
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Stock Repurchased and Retired During Period, Shares	718,750

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Percentage Of Underwriting Discount On Per Unit Offer Price	2.00%
Underwriting Commission Expense	$ 3
Percentage Of Deferred Underwriting Discount On Gross Offering Proceeds	4.00%
Percentage Of Underwriting Discount Deposit In Trust Account	6.00%