Infrastructure and Energy Alternatives (IEA) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 14, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		19,210,000

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)		Sep. 30, 2016	Dec. 31, 2015
Assets
Cash		$ 913,858	$ 31,691
Prepaid Expense		71,292
Deferred offering costs		0	105,000
Current Assets		985,150	136,691
Cash held in Trust Account		150,031,297	0
Total Assets		151,016,447	136,691
Liabilities and Stockholders' Equity
Franchise tax payable		9,690	0
Notes Payable			112,500
Current Liabilities		9,690	112,500
Deferred Underwriting Expense		6,000,000	0
Total Liabilities		6,009,690	112,500
Commitments and Contingencies
Common stock, 13,997,755 shares subject to possible redemption		140,006,756	0
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; 5,212,245 shares issued and outstanding (excluding 13,997,755 shares subject to redemption) at September 30, 2016; 5,031,250 shares issued and outstanding at December 31, 2015(1)	[1]	521	503
Additional Paid-in Capital		5,016,257	24,497
Accumulated Deficit		(16,777)	(809)
Total Equity		5,000,001	24,191
Total Liabilities & Stockholders Equity		$ 151,016,447	$ 136,691
[1]	At December 31, 2015 the number includes an aggregate of 718,750 shares that were returned and cancelled in July 2016 and an aggregate of 562,500 shares that were forfeited upon the expiration of the underwriters' over-allotment without exercise.

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2016
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	5,212,245
Common Stock, Shares, Outstanding	5,031,250	5,212,245
Stock Repurchased and Retired During Period, Shares	718,750
Number of Shares Subject to Forfeiture	562,500
Temporary Equity, Shares Outstanding	13,997,755

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)		3 Months Ended	9 Months Ended
		Sep. 30, 2016	Sep. 30, 2016
Formation and operating costs		$ (46,900)	$ (47,265)
Loss from operations		(46,900)	(47,265)
Interest Income		31,297	31,297
Net loss		$ (15,603)	$ (15,968)
Weighted average number of common shares outstanding - basic and diluted	[1]	5,058,396	4,588,494
Net loss per common share - basic and diluted		$ 0	$ 0
[1]	Excludes 13,997,755 shares subject to redemption

Condensed Statement of Cash Flo

Condensed Statement of Cash Flows	9 Months Ended
	Sep. 30, 2016USD ($)
Cash flows from operating activities:
Net loss	$ (15,968)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest Income held in Trust Account	(31,297)
Changes in operating assets and liabilities
Prepaid expenses	(71,292)
Increase in franchise tax payable	9,690
Net cash used in operating activities	(108,867)
Cash flows from investing activities
Principal deposited in Trust Account	(150,000,000)
Net cash used in investing activities	(150,000,000)
Cash flows from financing activities
Repayment of Notes Payable	(238,000)
Net proceeds from issuance of units	146,848,325
Gross proceeds from private placement	4,600,000
Payment of deferred offering costs	(219,291)
Net cash provided by financing activities	150,991,034
Net increase in cash	882,167
Cash at beginning of the period	31,691
Cash at the end of the period	913,858
Supplemental disclosure of noncash financing activities:
Deferred underwriting fees	6,000,000
Deferred offering costs reclassified to equity	105,000
Value of common stock subject to possible redemption	$ 140,006,756

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Organization and General: M III Acquisition Corp. (the ‘‘Company’’) was incorporated in Delaware on August 4, 2015 At September 30, 2016, the Company had not commenced any operations. All activity through September 30, 2016 relates to the Company’s formation, the initial public offering (‘‘Offering’’) described below and work to identify a potential target for the initial Business Combination. 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. 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 Sponsor and Proposed Financing: The Company’s sponsor is M III Sponsor I LLC, a Delaware limited liability company, and M III Sponsor I LP, a Delaware limited partnership (“M III LLC” and “M III LP,” respectively; and collectively, the ‘‘Sponsor’’). 150,000,000 4,600,000 150,000,000 In addition to the $150,000,000 of net proceeds that were placed into the Trust Account, an overfunded amount of $ 3,500,000 on July 15, 2016 (see Note 8). The Trust Account: Following the closing of the Offering and the private placement on July 12, 2016, an amount of $ 150.0 3.5 (Note 8) was placed in a United States-based trust account (“Trust Account”) at J.P. Morgan Chase Bank maintained by Continental Stock Transfer & Trust Company, acting as trustee, which funds may be invested only in U.S. government treasury bills with a maturity of one hundred and eighty (180) days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940 which invest only in direct U.S. government obligations. Funds will remain in the Trust Account until the earlier of (i) the consummation of the initial Business Combination or (ii) the distribution of the Trust Account as described below. The remaining proceeds outside the Trust Account may be used to pay for business, legal and accounting due diligence on prospective acquisitions and continuing general and administrative expenses. 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 its initial Business Combination with (or acquisition of) a Target Business. A ‘‘Target Business’’ means one or more target businesses that together have a fair market value equal to at least 80 connection with the Company’s initial Business Combination. There is no assurance that the Company will be able to successfully effect its initial Business Combination. The Company, after signing a definitive agreement for its initial 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 initial 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 initial 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. If the Company seeks stockholder approval, it will complete its initial 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 initial 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 the initial 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 initial 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”) 480, ‘‘Distinguishing Liabilities from Equity.’’ The amount in the Trust Account as of September 30, 2016 is approximately $ 10.00 150,031,297 If the Company seeks stockholder approval of the initial Business Combination and it does not conduct redemptions in connection with the 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 initial Business Combination by July 12, 2018. If the Company does not complete its initial Business Combination by July 12, 2018, then 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 of such net interest to pay dissolution expenses) and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its remaining stockholders, as part of its plan of dissolution and liquidation. The initial stockholders have entered into letter agreements with the Company (and Cantor Fitzgerald has agreed as part of its unit purchase agreement), pursuant to which they have waived their rights to participate in any redemption with respect to their initial shares; however, if the initial stockholders or any of the Company’s officers, directors or affiliates acquire shares of common stock in or after the Offering, they will be entitled to a pro rata share of the Trust Account with respect to such shares only upon the Company’s redemption or liquidation in the event the Company does not complete its initial Business Combination within the required time period. 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 transaction agreement, 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	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements are 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 of the 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 condensed consolidated 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. Financial statements for the period from August 4, 2015 through September 30, 2015 have not been included since results were immaterial. 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 an accounting 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 accounting standard at the time private companies adopt the new or revised standard. At September 30, 2016, all of the assets in the Trust Account were invested in the J.P. Morgan 100 31,297 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 The fair value of the Company’s assets and liabilities, which qualify as financial instruments FASB ASC 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 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 September 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 September 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. The income tax provision was deemed to be immaterial for the period ended September 30, 2016. All of the 15,000,000 FASB ASC 480 FASB ASC 480 5,000,001 The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of the securities to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected by charges against additional paid-in capital. Accordingly, at September 30, 2016, 13,997,755 15,000,000 10.00 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, require potential adjustment to or disclosure in the financial statements and has concluded that all such events that would require recognition or disclosure have been recognized or disclosed. As of September 30, 2016, the Company had $ 913,858 150,031,297 Based on the foregoing, management believes that the Company will have sufficient working capital to meet the Company's needs through the earlier of consummation of its initial Business Combination or July 12, 2018. Over this time period, the Company will be using these funds for paying existing accounts payable, identifying and evaluating prospective merger or acquisition candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the initial Business Combination. The Company anticipates that its uses of cash for the next twelve months will be approximately $ 400,000 Offering costs consist principally of legal, underwriting commissions and other costs incurred through the balance sheet date that are directly related to the Offering. Offering costs amounting to approximately $ 9.6 3 6 Net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. An aggregate of 13,997,755 7,730,000

PUBLIC OFFERING

PUBLIC OFFERING	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
PUBLIC OFFERING Disclosure [Text Block]	NOTE 3 — PUBLIC OFFERING On July 12, 2016 the Company consummated the Offering of 15,000,000 10.00 0.0001 Each Warrant entitles the holder to purchase one-half of one share of common stock at a price of $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	9 Months Ended
	Sep. 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 3,593,750 shares of common stock (the “Founder Shares”) for an aggregate 25,000 0.007 the Company effectuated a 1.760-for-1 stock split in the form of a dividend 1,293,750 718,750 4,312,500 562,500 0.006 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 (A) 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 If the Company does not complete its initial Business Combination, then the proceeds from the Private Placement units will be part of the liquidating distribution to the public stockholders and the Private Placement Units and their component securities issued to the Sponsor and Cantor Fitzgerald will expire worthless. Related Party Loans: M III LLC had agreed to loan the Company an aggregate of $ 250,000 2,766 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

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE Underwriting Agreement The Company paid an underwriting discount of 2 3.0 4 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. Other General and Administrative Services: The Sponsor and the Company’s executive officers and directors, and their respective affiliates, will be entitled to be reimbursed for any out-of-pocket expenses incurred in connection with activities on the Company’s behalf, including but not limited to, identifying potential target businesses and performing due diligence on suitable Business Combinations. The Company’s audit committee will review on a quarterly basis all payments that were made to the Sponsor, and the Company’s executive officers, directors and affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on the Company’s behalf, provided, however, that to the extent such expenses exceed the available proceeds not deposited in the Trust Account, such expenses would not be reimbursed by the Company unless the Company consummates an initial Business Combination. Notwithstanding the foregoing, no reimbursement is due for office space and general administrative expenses incurred by M-III Partners, LLC provided to the Company.

TRUST ACCOUNT AND FAIR VALUE ME

TRUST ACCOUNT AND FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 2016
Trust Account And Fair Value Measurement [Abstract]
Trust Account And Fair Value Measurement Disclosure [Text Block]	NOTE 6 — T Upon the closing of the Offering and the private placement, a total of $ 150,000,000 as amended, and that invest solely in U.S. government treasury obligations. At September 30, 2016, the proceeds of the Trust Account were invested in U.S. treasury bills yielding interest of approximately 0.10 31,297 Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at September 30, 2016 and December 31, 2015, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: Description Level September 30, 2016 December 31, 2015 Assets: Cash and securities held in Trust Account 1 $ 150,031,297 $ -

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 7 — STOCKHOLDERS’ EQUITY Common Stock The authorized common stock of the Company is 35,000,000 Holders of the Company’s common stock are entitled to one vote for each share of common stock 19,210,000 13,997,755 Preferred Stock The Company is authorized to issue up to 1,000,000

DUE TO UNDERWRITER

DUE TO UNDERWRITER	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Due To Underwriter Disclosure [Text Block]	NOTE 8 — DUE TO UNDERWRITER On July 12, 2016, the underwriter transferred an incremental $ 3.4 125,500 125,500 an additional 3.4 was wired back from the Trust Account to the underwriter in order to reimburse for its overfunding at closing

SUMMARY OF SIGNIFICANT ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The accompanying unaudited condensed consolidated financial statements are 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 of the 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 condensed consolidated 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. Financial statements for the period from August 4, 2015 through September 30, 2015 have not been included since results were immaterial.
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 an accounting 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 accounting standard at the time private companies adopt the new or revised standard.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, cash equivalents and securities held in Trust Account: At September 30, 2016, all of the assets in the Trust Account were invested in the J.P. Morgan 100 31,297
Concentration Risk, Credit Risk, Policy [Policy Text Block]	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 FASB ASC 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 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 September 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 September 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. The income tax provision was deemed to be immaterial for the period ended September 30, 2016.
Redeemable Common Stock Policy [Policy Text Block]	All of the 15,000,000 FASB ASC 480 FASB ASC 480 5,000,001 The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of the securities to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable common stock are affected by charges against additional paid-in capital. Accordingly, at September 30, 2016, 13,997,755 15,000,000 10.00
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, require potential adjustment to or disclosure in the financial statements and has concluded that all such events that would require recognition or disclosure have been recognized or disclosed.
Liquidity Policy [Policy Text Block]	Liquidity: As of September 30, 2016, the Company had $ 913,858 150,031,297 Based on the foregoing, management believes that the Company will have sufficient working capital to meet the Company's needs through the earlier of consummation of its initial Business Combination or July 12, 2018. Over this time period, the Company will be using these funds for paying existing accounts payable, identifying and evaluating prospective merger or acquisition candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating and consummating the initial Business Combination. The Company anticipates that its uses of cash for the next twelve months will be approximately $ 400,000
Stock Offering Costs Policy [Policy Text Block]	Offering costs consist principally of legal, underwriting commissions and other costs incurred through the balance sheet date that are directly related to the Offering. Offering costs amounting to approximately $ 9.6 3 6
Earnings Per Share, Policy [Policy Text Block]	Net Loss per Share: Net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. An aggregate of 13,997,755 7,730,000

TRUST ACCOUNT AND FAIR VALUE 15

TRUST ACCOUNT AND FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 2016
Trust Account And Fair Value Measurement [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at September 30, 2016 and December 31, 2015, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: Description Level September 30, 2016 December 31, 2015 Assets: Cash and securities held in Trust Account 1 $ 150,031,297 $ -

DESCRIPTION OF ORGANIZATION A16

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details Textual) - USD ($)	Jul. 15, 2016	Jul. 12, 2016	Aug. 31, 2015	Sep. 30, 2016
Entity Incorporation, Date of Incorporation				Aug. 4, 2015
Stock Issued During Period, Shares, New Issues			3,593,750	15,000,000
Shares Issued, Price Per Share			$ 0.007	$ 10
Stock Issued During Period, Value, New Issues			$ 25,000
Proceeds from Issuance of Private Placement				$ 4,600,000
Overfunded Amount Held In Trust	$ 3,500,000
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 its initial Business Combination by July 12, 2018
Assets Held-in-trust		$ 150,000,000		$ 150,031,297
Decommissioning Fund Investments, Fair Value		3,500,000
Interest Expense, Trust Preferred Securities		$ 50,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage		80.00%
Business Combination, Contingent Consideration, Asset		$ 5,000,001
Excess Shares, Restrictions on Redemption, Percentage				20.00%
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
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

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2015	Sep. 30, 2016	Dec. 31, 2015
Cash, FDIC Insured Amount		$ 250,000
Common Stock Shares Subject To Redemption		13,997,755
Anticipated Cash Requirement For Next Twelve Months		$ 400,000
Stock Offering Costs		9,600,000
Deferred Underwriting Expense		$ 6,000,000	$ 0
Stock Issued During Period, Shares, New Issues	3,593,750	15,000,000
Stockholders' Equity Attributable to Parent		$ 5,000,001	24,191
Temporary Equity, Shares Issued		15,000,000
Temporary Equity, Redemption Price Per Share		$ 10
Cash and Cash Equivalents, at Carrying Value		$ 913,858	31,691
Assets Held-in-trust, Noncurrent		$ 150,031,297	$ 0
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		7,730,000
Payments for Underwriting Expense		$ 3,000,000
Interest Income Held In Trust Account		$ 31,297
Equity Method Investment, Ownership Percentage		100.00%
Common Stock Subject To Possible Redemption [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		13,997,755

PUBLIC OFFERING (Details Textua

PUBLIC OFFERING (Details Textual) - $ / shares	Jul. 12, 2016	Aug. 31, 2015	Sep. 30, 2016	Dec. 31, 2015
Stock Issued During Period, Shares, New Issues		3,593,750	15,000,000
Shares Issued, Price Per Share		$ 0.007	$ 10
Common Stock, Par or Stated Value Per Share		$ 0.0001	$ 0.0001	$ 0.0001
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
Common Stock, Par or Stated Value Per Share	0.0001
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	Nov. 05, 2015	Aug. 31, 2015	Dec. 31, 2015	Sep. 30, 2016	Dec. 31, 2015
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 Companys initial Business Combination, or (A) 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 Companys stockholders having the right to exchange their shares of common stock for cash, securities or other property (the Lock Up Period).
Stock Issued During Period, Shares, New Issues				3,593,750		15,000,000
Stock Issued During Period, Value, New Issues				$ 25,000
Shares Issued, Price Per Share				$ 0.007		$ 10
Stock Repurchased During Period, Shares		718,750			1,293,750
Stock Issued During Period, Shares, Stock Splits		4,312,500
Accelerated Share Repurchases, Initial Price Paid Per Share		$ 0.006
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
Stockholders' Equity Note, Stock Split			the Company effectuated a 1.760-for-1 stock split in the form of a dividend
M III LLC [Member]
Notes Payable	250,000
Proceeds from Related Party Debt	$ 2,766
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
Private Placement [Member] | Sponsor And Cantor Fitzerland [Member]
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
Private Placement [Member] | Sponsor [Member]
Stock Issued During Period, Shares, New Issues	340,000
Private Placement [Member] | Cantor Fitzerland [Member]
Stock Issued During Period, Shares, New Issues	120,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Textual) $ in Millions	9 Months Ended
	Sep. 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%

TRUST ACCOUNT AND FAIR VALUE 21

TRUST ACCOUNT AND FAIR VALUE MEASUREMENT (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash and securities held in Trust Account	$ 150,031,297	$ 0

TRUST ACCOUNT AND FAIR VALUE 22

TRUST ACCOUNT AND FAIR VALUE MEASUREMENT (Details Textual)	9 Months Ended
	Sep. 30, 2016USD ($)
Trust Account And Fair Value Measurement [Line Items]
Payments For Principal Deposited In Trust Account	$ 150,000,000
U S Treasury Bills Yielding Interest Rate	0.10%
Unrealized Appreciation On Investment In Treasury Securities	$ 31,297

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - shares	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
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
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Common Stock Shares Issued, Including Shares Subject To Redemption	19,210,000
Common Stock Shares Outstanding, Including Shares Subject To Redemption	19,210,000
Common Stock Shares Subject To Redemption	13,997,755

DUE TO UNDERWRITER (Details Tex

DUE TO UNDERWRITER (Details Textual) - Underwriter [Member] - USD ($)	Jul. 13, 2016	Jul. 12, 2016	Jul. 15, 2016
Related Party Transaction, Amounts of Transaction		$ 3,400,000
Legal Fees	$ 125,500	$ 125,500
Due to Related Parties, Current			$ 3,400,000