Xynomic Pharmaceuticals (XYNPW) 10-Q 7 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 06, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Bison Capital Acquisition Corp.
Entity Central Index Key	1,697,805
Trading Symbol	BCACU
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,018
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,978,937

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current Assets
Cash	$ 317,558	$ 210,088
Prepaid expenses and other current assets	82,538	89,530
Total current assets	400,096	299,618
Marketable securities held in Trust Account	62,666,293	62,208,330
Total Assets	63,066,389	62,507,948
Current Liabilities
Accounts payable and accrued expenses	94,333	78,669
Advances from related party	1,804	1,804
Promissory note - related party	400,000
Total Current Liabilities	496,137	80,473
Commitments and Contingencies
Ordinary shares subject to redemption, 5,546,529 and 5,573,504 shares at redemption value as of June 30, 2018 and December 31, 2017, respectively	57,570,251	57,427,474
Shareholders' Equity
Preferred shares, no par value; unlimited shares authorized, none issued and outstanding
Ordinary shares, no par value; unlimited shares authorized; 2,432,408 and 2,405,433 shares issued and outstanding (excluding 5,546,529 and 5,573,504 shares subject to redemption) as of June 30, 2018 and December 31, 2017, respectively	4,900,285	5,043,062
Retained earnings / (Accumulated deficit)	99,716	(43,061)
Total Shareholders' Equity	5,000,001	5,000,001
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 63,066,389	$ 62,507,948

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Ordinary shares redemption value	5,546,529	5,573,504
Preferred stock, par value
Preferred stock, shares authorized	Unlimited	Unlimited
Preferred stock, shares issued
Preferred stock, shares outstanding
Ordinary shares, par value
Ordinary shares, shares authorized	Unlimited	Unlimited
Ordinary shares, shares issued	2,432,408	2,405,433
Ordinary shares, shares outstanding	2,432,408	2,405,433

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Operating costs		$ 189,270	$ 20,841	$ 315,186	$ 20,914
Loss from operations		(189,270)	(20,841)	(315,186)	(20,914)
Other income:
Interest income		257,452	6,534	478,293	6,534
Unrealized loss on marketable securities held in Trust Account		(839)	(17,375)	(20,330)	(17,375)
Net income (loss)		$ 67,343	$ (31,682)	$ 142,777	$ (31,755)
Weighted average shares outstanding, basic and diluted	[1]	2,416,117	1,380,825	2,410,805	1,346,851
Basic and diluted net loss per ordinary share		$ (0.07)	$ (0.02)	$ (0.12)	$ (0.02)
[1]	Excludes an aggregate of up to 5,546,529 and 5,604,590 ordinary shares subject to redemption at June 30, 2018 and 2017, respectively.

Condensed Statements of Operat5

Condensed Statements of Operations (Parenthetical) (Unaudited) - shares	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Ordinary shares subject to redemption	5,546,529	5,604,590

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash Flows from Operating Activities:
Net income (loss)	$ 142,777	$ (31,755)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Interest earned on marketable securities held in Trust Account	(478,293)	(6,534)
Unrealized loss on marketable securities held in Trust Account	20,330	17,375
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	6,992	(24,500)
Accounts payable and accrued expenses	15,664	30,597
Net cash used in operating activities	(292,530)	(14,817)
Cash Flows from Investing Activities:
Investment of cash in Trust Account		(61,884,375)
Net cash used in investing activities		(61,884,375)
Cash Flows from Financing Activities:
Proceeds from issuance of ordinary shares		25,000
Proceeds from sale of Units, net of underwriting discounts paid		58,563,750
Proceeds from sale of Private Units		4,320,625
Proceeds from sale of unit purchase option		100
Advances from related parties		71,804
Repayment of advances from related parties		(157,500)
Proceeds from promissory note - related party	400,000
Repayment of promissory note - related party		(300,000)
Other financing activities		(351,439)
Net cash provided by financing activities	400,000	62,172,340
Net Change in Cash	107,470	273,148
Cash - Beginning	210,088	298,199
Cash - Ending	317,558	571,347
Non-Cash investing and financing activities:
Offering costs charged to additional paid in capital		402,525
Initial classification of common stock subject to possible redemption		57,468,142
Change in value of common stock subject to possible redemption	$ 102,109	$ (31,163)

Description of Organization and

Description of Organization and Business Operations	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Bison Capital Acquisition Corp. (the “Company”) is a blank check company incorporated in the British Virgin Islands on October 7, 2016. The Company was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities (a “Business Combination”). Although the Company is not limited to a particular industry or geographic region for purposes of consummating an initial business combination, the Company intends to focus on businesses that have their primary operations located in Asia and North America in media/entertainment, consumer services and healthcare industries. All activity through June 30, 2018 relates to the Company’s formation, the consummation of its initial public offering of 6,037,500 units (the “Initial Public Offering”), the simultaneous sale of 432,062 units (the “Private Units”) in a private placement to the Company’s sponsor, Bison Capital Holding Company Limited (“Bison Capital”) and EarlyBirdCapital, Inc. (“EarlyBirdCapital”) and their designees, and identifying a target company for a Business Combination. Liquidity The Company has principally financed its operations from inception using proceeds from the sale of its equity securities to its shareholders prior to the Initial Public Offering (the “Initial Shareholders”) and such amount of proceeds from the Initial Public Offering that were placed in an account outside of the Trust Account for working capital purposes. As of June 30, 2018, the Company had $317,558 held outside of the Trust Account. Interest earned on the Trust Account balance through June 30, 2018 available to be released to the Company for the payment of income tax obligations amounted to approximately $782,000. As of June 30, 2018, the Sponsor has loaned the Company an aggregate of $400,000. In July 2018, the Sponsor committed to provide an additional $200,000 in loans to the Company (see Note 7). Based on the foregoing, the Company believes it will have sufficient cash to meet its needs through the earlier of consummation of a Business Combination or March 23, 2019, the date that the Company will be required to cease all operations except for the purpose of winding up, if a Business Combination is not consummated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed 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 8 of Regulation S-X of the Securities and Exchange Commission (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 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. The accompanying unaudited condensed financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2017 as filed with the SEC on February 21, 2018, which contains the audited financial statements and notes thereto, together with Management’s Discussion and Analysis. The financial information as of December 31, 2017 is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the year December 31, 2017. The interim results for the six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018 or for any future interim periods. 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. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from those estimates. 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. Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period. The Company applies the two-class method in calculating earnings per share. Ordinary shares subject to possible redemption at June 30, 2018 and 2017, which are not currently redeemable and are not redeemable at fair value, have been excluded from the calculation of basic loss per share since such shares, if redeemed, only participate in their pro rata share of the Trust Account earnings. The Company has not considered the effect of (1) warrants sold in the Initial Public Offering and private placement to purchase 3,234,781 ordinary shares, (2) rights sold in the Initial Public Offering and private placement that convert into 646,957 ordinary shares, and (3) 157,500 ordinary shares, warrants to purchase 78,750 ordinary shares and rights that convert into 15,750 ordinary shares in the unit purchase option sold to the underwriter, in the calculation of diluted loss per share, since the exercise of the warrants and the conversion of the rights into ordinary shares is contingent upon the occurrence of future events. As a result, diluted loss per share is the same as basic loss per share for the periods presented. Reconciliation of Net Loss per Ordinary Share The Company’s net income (loss) is adjusted for the portion of income that is attributable to ordinary shares subject to redemption, as these shares only participate in the income of the Trust Account and not the losses of the Company. Accordingly, basic and diluted loss per ordinary share is calculated as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 Net income (loss) $ 67,343 $ (31,682 ) $ 142,777 $ (31,755 ) Less: Loss (income) attributable to ordinary shares subject to redemption (235,750 ) 10,064 (420,731 ) 10,064 Adjusted net loss (168,407 ) (21,618 ) (277,954 ) (21,691 ) Weighted average shares outstanding, basic and diluted 2,416,117 1,380,825 2,410,805 1,346,851 Basic and diluted net loss per ordinary share $ (0.07 ) $ (0.02 ) $ (0.12 ) $ (0.02 )

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 3. RELATED PARTY TRANSACTIONS Promissory Note – Related Party As of June 30, 2018, Bison Capital loaned the Company an aggregate of $400,000 in order to finance transaction costs in connection with a Business Combination (see Note 7). The loans are evidenced by a promissory note, are non-interest bearing, unsecured and due to be paid upon the consummation of a Business Combination. Administrative Services Arrangement Bison Capital entered into an agreement whereby, commencing on June 19, 2017 through the earlier of the Company’s consummation of a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office space, utilities and administrative services, as the Company may require from time to time. The Company will pay Bison Capital $5,000 per month for these services. For the three and six months ended June 30, 2018, the Company incurred $15,000 and $27,500, respectively, in fees for these services. For the three and six months ended June 30, 2017, the Company incurred $5,000 in fees for these services. At June 30, 2018 and December 31, 2017, $62,500 and $35,000 in administrative fees, respectively, are included in accounts payable and accrued expenses in the accompanying condensed balance sheets.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 4. COMMITMENTS AND CONTINGENCIES Director Compensation The Company will pay its independent directors an annual retainer in an aggregate amount of $38,400 (to be prorated for a partial term), payable in arrears commencing on the first anniversary of the Initial Public Offering and ending on the earlier of a Business Combination and the Company’s liquidation. At June 30, 2018 and December 31, 2017, $0 and $19,200, respectively, is included in accounts payable and accrued expenses in the accompanying condensed balance sheets. Through June 30, 2018, the Company has paid $38,400 in director’s fees. Registration Rights Pursuant to a registration rights agreement entered into on June 19, 2017, the holders of the ordinary shares issued to the Initial shareholders (the “Founder Shares”), Private Units (and underlying securities) and working capital units (and underlying securities) are entitled to registration rights. The holders of a majority-in-interest of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination. Notwithstanding anything to the contrary, EarlyBirdCapital may participate in a “piggy-back” registration only during the seven year period beginning on the effective date of the registration statement. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act of 1993, as amended, to become effective until termination of the applicable lock-up period. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Business Combination Marketing Agreement On June 19, 2017, the Company entered into a Business Combination Marketing Agreement with EarlyBirdCapital wherein EarlyBirdCapital would act as an advisor in connection with a Business Combination to assist the Company in holding meetings with its shareholders to discuss the potential Business Combination and the target business’ attributes, introduce the Company to potential investors that are interested in purchasing the Company’s securities, assist the Company in obtaining shareholder approval for the Business Combination and assist the Company with its press releases and public filings in connection with the Business Combination. The Company will pay EarlyBirdCapital a cash fee for such services upon the consummation of a Business Combination in an amount equal to 3% of the gross proceeds of the Company’s Initial Public Offering (exclusive of any applicable finders’ fees which might become payable). Notwithstanding the foregoing, the fee will be reduced by an amount equal to 2% of the dollar amount of purchases of the Company’s ordinary shares by investors introduced to the Company by Bison Capital or the Company’s officers, directors or their respective affiliates following announcement by the Company of a proposed vote on such Business Combination and do not seek conversion of their shares in connection with such proposed Business Combination; provided, however, that the fee will not be reduced by more than $500,000. Finders Agreement On November 16, 2017, the Company entered into a finder agreement (the “Finder Agreement”) with EarlyBirdCapital pursuant to which EarlyBirdCapital will introduce potential targets (the “Targets”) to the Company on a nonexclusive basis in connection with a Business Combination. The Company shall pay EarlyBirdCapital for its services, upon the closing (or closings) of a Business Combination with a Target, a cash fee equal to 1.0% of the Total Consideration (as defined in the Finder Agreement) deducting any finder fee, advisor fee or any other type of service fee or compensation that Target has paid or has agreed to pay to EarlyBirdCapital in connection with such Business Combination. The Company shall also reimburse EarlyBirdCapital for all out-of-pocket expenses incurred and such expenses shall not exceed $10,000 in the aggregate through the termination of the Finder Agreement unless otherwise consented to in writing by the Company in advance.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
SHAREHOLDERS' EQUITY	NOTE 5. SHAREHOLDERS’ EQUITY Preferred Shares Ordinary Shares

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 6. FAIR VALUE MEASUREMENTS The Company follows the guidance in ASC 820 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 fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities: 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 June 30, 2018 and December 31, 2017, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: Description Level June 30, December 31, Assets: Marketable securities held in Trust Account 1 $ 62,666,293 $ 62,208,330

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7. SUBSEQUENT EVENTS The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the financial statements were issued. Other than as described below, the Company did not identify subsequent events that would have required adjustment or disclosure in the financial statements. In July 2018, Bison Capital committed to provide an additional $200,000 in loans to the Company in order to finance transaction costs in connection with a Business Combination. The loans will be evidenced by a promissory note, will be non-interest bearing, unsecured and will only be repaid upon the completion of a Business Combination.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed 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 8 of Regulation S-X of the Securities and Exchange Commission (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 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. The accompanying unaudited condensed financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2017 as filed with the SEC on February 21, 2018, which contains the audited financial statements and notes thereto, together with Management’s Discussion and Analysis. The financial information as of December 31, 2017 is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the year December 31, 2017. The interim results for the six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018 or for any future interim periods.
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. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from those estimates.
Recent accounting pronouncements	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.
Net loss per share	Net loss per share Net loss per share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period. The Company applies the two-class method in calculating earnings per share. Ordinary shares subject to possible redemption at June 30, 2018 and 2017, which are not currently redeemable and are not redeemable at fair value, have been excluded from the calculation of basic loss per share since such shares, if redeemed, only participate in their pro rata share of the Trust Account earnings. The Company has not considered the effect of (1) warrants sold in the Initial Public Offering and private placement to purchase 3,234,781 ordinary shares, (2) rights sold in the Initial Public Offering and private placement that convert into 646,957 ordinary shares, and (3) 157,500 ordinary shares, warrants to purchase 78,750 ordinary shares and rights that convert into 15,750 ordinary shares in the unit purchase option sold to the underwriter, in the calculation of diluted loss per share, since the exercise of the warrants and the conversion of the rights into ordinary shares is contingent upon the occurrence of future events. As a result, diluted loss per share is the same as basic loss per share for the periods presented.
Reconciliation of Net Loss per Ordinary Share	Reconciliation of Net Loss per Ordinary Share The Company’s net income (loss) is adjusted for the portion of income that is attributable to ordinary shares subject to redemption, as these shares only participate in the income of the Trust Account and not the losses of the Company. Accordingly, basic and diluted loss per ordinary share is calculated as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 Net income (loss) $ 67,343 $ (31,682 ) $ 142,777 $ (31,755 ) Less: Loss (income) attributable to ordinary shares subject to redemption (235,750 ) 10,064 (420,731 ) 10,064 Adjusted net loss (168,407 ) (21,618 ) (277,954 ) (21,691 ) Weighted average shares outstanding, basic and diluted 2,416,117 1,380,825 2,410,805 1,346,851 Basic and diluted net loss per ordinary share $ (0.07 ) $ (0.02 ) $ (0.12 ) $ (0.02 )

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of basic and diluted loss per ordinary share	Three Months Ended Six Months Ended 2018 2017 2018 2017 Net income (loss) $ 67,343 $ (31,682 ) $ 142,777 $ (31,755 ) Less: Loss (income) attributable to ordinary shares subject to redemption (235,750 ) 10,064 (420,731 ) 10,064 Adjusted net loss (168,407 ) (21,618 ) (277,954 ) (21,691 ) Weighted average shares outstanding, basic and diluted 2,416,117 1,380,825 2,410,805 1,346,851 Basic and diluted net loss per ordinary share $ (0.07 ) $ (0.02 ) $ (0.12 ) $ (0.02 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of fair value on recurring basis	Description Level June 30, December 31, Assets: Marketable securities held in Trust Account 1 $ 62,666,293 $ 62,208,330

Description of Organization a17

Description of Organization and Business Operations (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2018	Jun. 30, 2018
Description of Organization and Business Operations (Textual)
Cash held outside of trust account		$ 317,558
Aggregate amount		400,000
Payment of income tax		$ 782,000
Private Placement [Member]
Description of Organization and Business Operations (Textual)
Number of stock units issued		432,062
IPO [Member]
Description of Organization and Business Operations (Textual)
Number of stock units issued		6,037,500
Subsequent Event [Member]
Description of Organization and Business Operations (Textual)
Sponsor committed additional loan amount	$ 200,000

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accounting Policies [Abstract]
Net income (loss)		$ 67,343	$ (31,682)	$ 142,777	$ (31,755)
Less: Loss (income) attributable to ordinary shares subject to redemption		(235,750)	(10,064)	(420,731)	(10,064)
Adjusted net loss		$ (168,407)	$ (21,618)	$ (277,954)	$ (21,691)
Weighted average shares outstanding, basic and diluted	[1]	2,416,117	1,380,825	2,410,805	1,346,851
Basic and diluted net loss per ordinary share		$ (0.07)	$ (0.02)	$ (0.12)	$ (0.02)
[1]	Excludes an aggregate of up to 5,546,529 and 5,604,590 ordinary shares subject to redemption at June 30, 2018 and 2017, respectively.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Details Textual)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies (Textual)
Description of shares excluded from the calculation of basic income per share	(1) warrants sold in the Initial Public Offering and private placement to purchase 3,234,781 ordinary shares, (2) rights sold in the Initial Public Offering and private placement that convert into 646,957 ordinary shares, and (3) 157,500 ordinary shares, warrants to purchase 78,750 ordinary shares and rights that convert into 15,750 ordinary shares in the unit purchase option sold to the underwriter.

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 19, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Related Party Transactions (Textual)
Aggregate order to finance transaction costs		$ 400,000		$ 400,000
Incurred fee for services		$ 15,000	$ 5,000	27,500	$ 5,000
Administrative fees				$ 62,500		$ 35,000
Administrative Services Arrangement [Member]
Related Party Transactions (Textual)
General and administrative services	$ 5,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	1 Months Ended		6 Months Ended
	Nov. 16, 2017	Jun. 19, 2017	Jun. 30, 2018	Dec. 31, 2017
Commitments and Contingencies (Textual)
Independent directors annual retainer expenses			$ 38,400
Business combination marketing agreement, description		The Company will pay EarlyBirdCapital a cash fee for such services upon the consummation of a Business Combination in an amount equal to 3% of the gross proceeds of the Company’s Initial Public Offering (exclusive of any applicable finders’ fees which might become payable). Notwithstanding the foregoing, the fee will be reduced by an amount equal to 2% of the dollar amount of purchases of the Company’s ordinary shares by investors introduced to the Company by Bison Capital or the Company’s officers, directors or their respective affiliates following announcement by the Company of a proposed vote on such Business Combination and do not seek conversion of their shares in connection with such proposed Business Combination; provided, however, that the fee will not be reduced by more than $500,000.
Accounts payable and accrued liabilities			0	$ 19,200
Earlybirdcapital [Member]
Commitments and Contingencies (Textual)
Aggregate pocket expenses	$ 10,000
Director [Member]
Commitments and Contingencies (Textual)
Director's fees amount			$ 38,400
Finders Agreement [Member]
Commitments and Contingencies (Textual)
Cash fee percentage	1.00%

Shareholders' Equity (Details)

Shareholders' Equity (Details) - shares	Jun. 30, 2018	Dec. 31, 2017
Shareholders' Equity (Textual)
Ordinary shares outstanding	2,432,408	2,405,433
Ordinary shares redemption value	5,546,529	5,573,504

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Assets:
Marketable securities held in Trust Account	$ 62,666,293	$ 62,208,330

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended
	Jul. 31, 2018USD ($)
Subsequent Event [Member]
Capital committed additional loan amount	$ 200,000