Reviva Pharmaceuticals (RVPH) 10-Q 10 Jan 20 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Nov. 30, 2019	Jan. 10, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Entity Registrant Name	Tenzing Acquisition Corp.
Entity Central Index Key	0001742927
Document Period End Date	Nov. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--02-28
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Trading Symbol	TZACU
Entity Common Stock, Shares Outstanding		8,265,063
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	true

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Nov. 30, 2019	Feb. 28, 2019
Current Assets
Cash	$ 134,308	$ 313,049
Prepaid expenses and other current assets	15,656	91,130
Total Current Assets	149,964	404,179
Marketable securities held in Trust Account	66,322,741	65,241,920
Total Assets	66,472,705	65,646,099
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued expenses	100,102	23,050
Total Current Liabilities	100,102	23,050
Deferred underwriting fee payable	2,213,750	2,213,750
Total Liabilities	2,313,852	2,236,800
Commitments
Ordinary shares subject to possible redemption, 5,641,801 and 5,662,598 shares at redemption value at November 30, 2019 and February 28, 2019, respectively	59,158,847	58,409,291
Shareholders' Equity
Preferred shares, no par value; unlimited shares authorized, none issued and outstanding	0	0
Ordinary shares, no par value; unlimited shares authorized; 2,623,262 and 2,602,465 shares issued and outstanding (excluding 5,641,801 and 5,662,598 shares subject to possible redemption) at November 30, 2019 and February 28, 2019, respectively	3,676,321	4,425,877
Retained earnings	1,323,685	574,131
Total Shareholders' equity	5,000,006	5,000,008
Total Liabilities and Shareholders' Equity	$ 66,472,705	$ 65,646,099

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Nov. 30, 2019	Feb. 28, 2019	Nov. 30, 2018
CONDENSED BALANCE SHEETS
Temporary Equity, Shares Issued	5,641,801	5,662,598	5,664,528
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common Stock, Shares, Issued	2,623,262	2,602,465
Common Stock, Shares, Outstanding	2,623,262	2,602,465

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		8 Months Ended	9 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2018	Nov. 30, 2019
CONDENSED STATEMENTS OF OPERATIONS
Operating costs	$ 166,022	$ 79,146	$ 94,815	$ 331,267
Loss from operations	(166,022)	(79,146)	(94,815)	(331,267)
Other income:
Interest income	323,704	353,261	377,331	1,074,188
Unrealized gain (loss) on marketable securities held in Trust Account	(20,874)	(10,892)	(14,947)	6,633
Net income	$ 136,808	$ 263,223	$ 267,569	$ 749,554
Weighted average ordinary shares outstanding, basic and diluted	2,610,490	2,596,282	1,841,745	2,606,031
Basic and diluted net loss per ordinary share	$ (0.05)	$ (0.02)	$ (0.03)	$ (0.08)

CONDENSED STATEMENTS OF OPERA_2

CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)	3 Months Ended		8 Months Ended	9 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2018	Nov. 30, 2019	Feb. 28, 2019
CONDENSED STATEMENTS OF OPERATIONS
Temporary Equity, Shares Issued	5,641,801	5,664,528	5,664,528	5,641,801	5,662,598
Temporary Equity, Accretion to Redemption Value, Adjustment	$ 270,124	$ 306,626	$ 324,551	$ 964,092

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Ordinary Shares	Retained Earnings/(Accumulated Deficit)	Total
Balance at Mar. 19, 2018	$ 0	$ 0	$ 0
Balance (in shares) at Mar. 19, 2018	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 0	(13,341)	(13,341)
Balance at May. 31, 2018	$ 0	(13,341)	(13,341)
Balance (in shares) at May. 31, 2018	0
Balance at Mar. 19, 2018	$ 0	0	0
Balance (in shares) at Mar. 19, 2018	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			267,569
Balance at Nov. 30, 2018	$ 4,732,439	267,569	5,000,008
Balance (in shares) at Nov. 30, 2018	2,600,535
Balance at May. 31, 2018	$ 0	(13,341)	(13,341)
Balance (in shares) at May. 31, 2018	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of ordinary shares to initial shareholder	$ 25,000	0	25,000
Issuance of ordinary shares to initial shareholder (in shares)	1,581,250
Sale of 6,325,000 Units, net of underwriting discounts and offering expenses	$ 59,222,038	0	59,222,038
Sale of 6,325,000 Units, net of underwriting discounts and offering expenses (in shares)	6,325,000
Sale of 358,813 Private Units	$ 3,588,130	0	3,588,130
Sale of 358,813 Private Units (in shares)	358,813
Ordinary shares subject to redemption	$ (57,839,505)	0	(57,839,505)
Ordinary shares subject to redemption (in shares)	(5,668,781)
Net income (loss)	$ 0	17,687	17,687
Balance at Aug. 31, 2018	$ 4,995,663	4,346	5,000,009
Balance (in shares) at Aug. 31, 2018	2,596,282
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in value of ordinary shares subject to possible redemption	$ (263,224)	0	(263,224)
Change in value of ordinary shares subject to possible redemption (in shares)	4,253
Net income (loss)	$ 0	263,223	263,223
Balance at Nov. 30, 2018	$ 4,732,439	267,569	5,000,008
Balance (in shares) at Nov. 30, 2018	2,600,535
Balance at Feb. 28, 2019	$ 4,425,877	574,131	5,000,008
Balance (in shares) at Feb. 28, 2019	2,602,465
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in value of ordinary shares subject to possible redemption	$ (338,425)	0	(338,425)
Change in value of ordinary shares subject to possible redemption (in shares)	2,721
Net income (loss)	$ 0	338,426	338,426
Balance at May. 31, 2019	$ 4,087,452	912,557	5,000,009
Balance (in shares) at May. 31, 2019	2,605,186
Balance at Feb. 28, 2019	$ 4,425,877	574,131	5,000,008
Balance (in shares) at Feb. 28, 2019	2,602,465
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)			749,554
Balance at Nov. 30, 2019	$ 3,676,321	1,323,685	5,000,006
Balance (in shares) at Nov. 30, 2019	2,623,262
Balance at May. 31, 2019	$ 4,087,452	912,557	5,000,009
Balance (in shares) at May. 31, 2019	2,605,186
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in value of ordinary shares subject to possible redemption	$ (274,324)	0	(274,324)
Change in value of ordinary shares subject to possible redemption (in shares)	5,304
Net income (loss)	$ 0	274,320	274,320
Balance at Aug. 31, 2019	$ 3,813,128	1,186,877	5,000,005
Balance (in shares) at Aug. 31, 2019	2,610,490
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in value of ordinary shares subject to possible redemption	$ (136,807)	0	(136,807)
Change in value of ordinary shares subject to possible redemption (in shares)	12,772
Net income (loss)	$ 0	136,808	136,808
Balance at Nov. 30, 2019	$ 3,676,321	$ 1,323,685	$ 5,000,006
Balance (in shares) at Nov. 30, 2019	2,623,262

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	8 Months Ended	9 Months Ended
	Nov. 30, 2018	Nov. 30, 2019
Cash Flows from Operating Activities:
Net income	$ 267,569	$ 749,554
Adjustments to reconcile net income to net cash used in operating activities:
Interest earned on marketable securities held in Trust Account	(377,331)	(1,074,188)
Unrealized (gain) loss on marketable securities held in Trust Account	14,947	(6,633)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(60,547)	75,474
Accounts payable and accrued expenses	22,403	77,052
Net cash used in operating activities	(132,959)	(178,741)
Cash Flows from Investing Activities:
Investment of cash into Trust Account	(64,515,000)	0
Net cash used in investing activities	(64,515,000)	0
Cash Flows from Financing Activities:
Proceeds from issuance of ordinary shares to initial shareholder	25,000	0
Proceeds from sale of Units, net of underwriting discounts paid	61,826,875	0
Proceeds from sale of Private Units	3,588,130	0
Payment of offering costs	(391,087)	0
Advances from related party	363,436	0
Repayment of advances from related party	(363,436)	0
Net cash provided by financing activities	65,048,918	0
Net Change in Cash	400,959	(178,741)
Cash - Beginning	0	313,049
Cash - Ending	400,959	134,308
Non-Cash investing and financing activities:
Initial classification of ordinary shares subject to possible redemption	57,821,015	0
Change in value of ordinary shares subject to redemption	281,714	749,556
Deferred underwriting fee payable	$ 2,213,750	$ 0

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	9 Months Ended
	Nov. 30, 2019
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Tenzing Acquisition Corp. (the “Company”) is a blank check company incorporated in the British Virgin Islands on March 20, 2018. The Company was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities (“Business Combination”). Although the Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination, the Company intends to focus on businesses that operate in India. At November 30, 2019, the Company had not yet commenced any operations other than seeking a Business Combination. All activity through November 30, 2019 relates to the Company’s formation, its initial public offering (“Initial Public Offering”), which is described below, and seeking to identify a target company for a Business Combination. The registration statement for the Initial Public Offering was declared effective on August 20, 2018. On August 23, 2018 the Company consummated the Initial Public Offering of 5,500,000 units (“Units” and, with respect to the ordinary shares included in the Units offered, the “Public Shares”) at $10.00 per Unit, generating total gross proceeds of $55,000,000, which is described in Note 4. Each Unit consists of one ordinary share of the Company and one warrant of the Company (which is redeemable under certain circumstances) (the “Public Warrants”), with each Public Warrant entitling the holder thereof to purchase one ordinary share of the Company for $11.50 per share. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of an aggregate of 323,750 units (the “Private Units”) at a price of $10.00 per unit in a private placement to the Company’s sponsor, Tenzing LLC, a Delaware limited liability company (the managing members of which are the Company’s Chairman and Chief Executive Officer) (the “Sponsor”), and the underwriter of the Initial Public Offering, generating total gross proceeds of $3,237,500, which is described in Note 5. Following the closing of the Initial Public Offering on August 23, 2018, an amount of $56,100,000 ($10.20 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Units was placed in a trust account (“Trust Account”) which will be invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a‑7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the consummation of a Business Combination or (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below. On August 30, 2018, in connection with the underwriters’ election to fully exercise their over-allotment option, the Company consummated the sale of an additional 825,000 Units and the sale of an additional 35,063 Private Units, each at $10.00 per unit, generating total gross proceeds of $8,600,630. Following the closing, an additional $8,415,000 of net proceeds ($10.20 per Unit) was deposited in the Trust Account, resulting in $64,515,000 held in the Trust Account. Transaction costs amounted to $4,027,962, consisting of $1,423,125 of underwriting fees, $2,213,750 of deferred underwriting fees and $391,087 of offering costs. As of November 30, 2019, $134,308 of cash was held outside of the Trust Account and is available for working capital purposes. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and sale of the Private Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. NASDAQ rules provide that the Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the balance in the Trust Account (less any deferred underwriting commissions and interest released to pay taxes payable) at the time of signing a definitive agreement in connection with a Business Combination. The Company will only complete a Business Combination if the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination. The Company will provide its shareholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. For so long as the Company is deemed to be a foreign private issuer, it will conduct redemptions in accordance with the tender offer rules of the Securities and Exchange Commission (“SEC”). In connection with a proposed Business Combination, unless the Company is deemed to be a foreign private issuer at such time, the Company may seek shareholder approval of a Business Combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks shareholder approval, a majority of the outstanding shares voted are voted in favor of the Business Combination. If the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company’s Amended and Restated Memorandum and Articles of Association provides that, a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from seeking redemption rights with respect to 20% or more of the Public Shares without the Company’s prior written consent. The shareholders will be entitled to redeem their shares for a pro rata portion of the amount then in the Trust Account ($10.20 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem their shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter (as discussed in Note 7). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other legal reasons, or if the Company is deemed to be a foreign private issuer at such time, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association, offer such redemption pursuant to the SEC’s tender offer rules, and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior to completing a Business Combination. The Company’s Sponsor has agreed (a) to vote its founder shares, the ordinary shares included in the Private Units (the “Private Shares”) and any Public Shares purchased during or after the Initial Public Offering in favor of a Business Combination, (b) not to propose an amendment to the Company’s Amended and Restated Memorandum and Articles of Association with respect to the Company’s pre-Business Combination activities prior to the consummation of a Business Combination unless the Company provides dissenting public shareholders with the opportunity to redeem their Public Shares in conjunction with any such amendment; (c) not to redeem any ordinary shares (including the founder shares) and Private Units (including underlying securities) into the right to receive cash from the Trust Account in connection with a shareholder vote to approve a Business Combination (or to sell any ordinary shares in a tender offer in connection with a Business Combination if the Company does not seek shareholder approval in connection therewith) or a vote to amend the provisions of the Amended and Restated Memorandum and Articles of Association relating to shareholders’ rights of pre-Business Combination activity and (d) that the founder shares and Private Units (including underlying securities) shall not participate in any liquidating distributions upon winding up if a Business Combination is not consummated. However, the Sponsor will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares purchased during or after the Initial Public Offering if the Company fails to complete its Business Combination. The Company will have until February 23, 2020 to complete a Business Combination (the “Combination Period”). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than five business days thereafter, redeem 100% of the outstanding Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (net of taxes payable and less up to $50,000 of interest to pay liquidation expenses), which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the Company’s board of directors, proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company, subject in each case to its obligations to provide for claims of creditors and the requirements of applicable law. The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.20). The Sponsor has agreed that it 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 amounts in the Trust Account to below $10.20 per share (whether or not the underwriters’ over-allotment option is exercised in full), except as 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 Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers, prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

LIQUIDITY AND GOING CONCERN

LIQUIDITY AND GOING CONCERN	9 Months Ended
	Nov. 30, 2019
LIQUIDITY AND GOING CONCERN
LIQUIDITY AND GOING CONCERN	NOTE 2. LIQUIDITY AND GOING CONCERN As of November 30, 2019, the Company had $134,308 in its operating bank accounts, $66,322,741 in securities held in the Trust Account to be used for a Business Combination or to repurchase or redeem its Public Shares in connection therewith and working capital of $49,862. As of November 30, 2019, approximately $1,808,000 of the amount on deposit in the Trust Account represented interest income, which is available to pay the Company’s tax obligations, if any. Until the consummation of a Business Combination, the Company will be using the funds not held in the Trust Account primarily to identify and evaluate prospective acquisition candidates, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses, review corporate documents and material agreements of prospective target businesses, select the target business to acquire and structure, negotiate and complete a Business Combination. The Company will need to raise additional capital through loans or additional investments from its Sponsor, an affiliate of the Sponsor, or the Company’s officer and directors. The Company’s Sponsor, an affiliate of the Sponsor, or the Company’s officer and directors may, but are not obligated to, loan the Company funds as may be required. Accordingly, the Company may not be able to obtain additional financing. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, suspending the pursuit of a potential transaction. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern through February 23, 2020, which is the date the Company is required to cease all operations except for the purpose of winding up if it has not completed a Business Combination. These condensed financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Nov. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. 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 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 complete 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 February 28, 2019 as filed with the SEC on May 22, 2019, which contains the audited financial statements and notes thereto. The financial information as of February 28, 2019 is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the period from March 20, 2018 (inception) through February 28, 2019. The interim results for the three and nine months ended November 30, 2019 are not necessarily indicative of the results to be expected for the year ending February 29, 2020 or for any future interim periods. Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, 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 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. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. 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. Cash and cash equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of November 30, 2019 and February 28, 2019. Marketable securities held in Trust Account At November 30, 2019 and February 28, 2019, the assets held in the Trust Account were substantially held in U.S. Treasury Bills. Ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet. Income taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the British Virgin Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of November 30, 2019 and February 28, 2019. 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 foreign taxing authorities in the area 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 foreign tax laws. The Company’s tax provision is zero and it has no deferred tax assets. The Company is considered to be an exempted British Virgin Islands Company and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. Net loss per ordinary share Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding for the period. The Company applies the two-class method in calculating earnings per share. Ordinary shares subject to possible redemption at November 30, 2019 and 2018, which are not currently redeemable and are not redeemable at fair value, have been excluded from the calculation of basic net loss per ordinary share since such ordinary shares, if redeemed, only participate in their pro rata share of the Trust Account earnings. The Company has not considered the effect of warrants sold in the Initial Public Offering and private placement to purchase 6,683,813 ordinary shares in the calculation of diluted loss per share, since the exercise of the warrants are contingent upon the occurrence of future events. As a result, diluted net loss per ordinary share is the same as basic net loss per ordinary share for the periods. Reconciliation of net loss per ordinary share The Company’s net income is adjusted for the portion of income that is attributable to ordinary shares subject to possible redemption, as these shares only participate in the earnings of the Trust Account and not the income or losses of the Company. Accordingly, basic and diluted loss per ordinary share is calculated as follows: For the Period from March 20, Nine 2018 Three Months Months (inception) Ended Ended through November 30, November 30, November 30, 2019 2018 2019 2018 Net income $ 136,808 $ 263,223 $ 749,554 $ 267,569 Less: Income attributable to ordinary shares subject to possible redemption (270,124) (306,626) (964,092) (324,551) Adjusted net loss $ (133,316) $ (43,403) $ (214,538) $ (56,982) Weighted average ordinary shares outstanding, basic and diluted 2,610,490 2,596,282 2,606,031 1,841,745 Basic and diluted net loss per ordinary share $ (0.05) $ (0.02) $ (0.08) $ (0.03) Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At November 30, 2019 and February 28, 2019, the Company had not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. Recently issued accounting standards Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s condensed financial statements.

INITIAL PUBLIC OFFERING

INITIAL PUBLIC OFFERING	9 Months Ended
	Nov. 30, 2019
INITIAL PUBLIC OFFERING
INITIAL PUBLIC OFFERING	NOTE 4. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 6,325,000 Units at a purchase price of $10.00 per Unit, inclusive of 825,000 Units sold to the underwriters on August 30, 2018 upon the underwriters’ election to fully exercise their over-allotment option. Each Unit consists of one ordinary share and one Public Warrant. Each Public Warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 per share and is redeemable by the Company under certain circumstances (see Note 8).

PRIVATE PLACEMENT

PRIVATE PLACEMENT	9 Months Ended
	Nov. 30, 2019
PRIVATE PLACEMENT
PRIVATE PLACEMENT	NOTE 5. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor and the underwriter of the Initial Public Offering (and its designees) purchased an aggregate of 323,750 Private Units at a price of $10.00 per Private Unit, of which 310,000 Private Units were purchased by the Sponsor and 13,750 Private Units were purchased by the underwriter ($3,237,500 in the aggregate). On August 30, 2018, the Company consummated the sale of an additional 35,063 Private Units at a price of $10.00 per Private Unit, of which 33,000 Private Units were sold to the Sponsor and 2,063 Private Units were sold to the underwriter, generating gross proceeds of $350,630. Each Private Unit consists of one Private Share and one redeemable warrant (each, a “Private Warrant”). Each Private Warrant is exercisable to purchase one ordinary share at a price of $11.50 per share. The proceeds from the sale of the Private Units were added to the net proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Warrants will expire worthless.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Nov. 30, 2019
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 6. RELATED PARTY TRANSACTIONS Founder Shares In June 2018, the Company issued an aggregate of 1,437,500 founder shares to the Sponsor for an aggregate purchase price of $25,000 in cash. On August 20, 2018, the Company effectuated a 1.1-for-1 share dividend resulting in an aggregate of 1,581,250 founder shares outstanding. The founder shares included an aggregate of up to 206,250 shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment was not exercised in full or in part, so that the Sponsor would collectively own 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering. On August 30, 2018, as a result of the underwriters’ election to fully exercise their over-allotment option, 206,250 Founder Shares are no longer subject to forfeiture. The Sponsor has agreed not to transfer, assign or sell any of the founder shares (except to certain permitted transferees) until the earlier of  (i) one year after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing 150 days after a Business Combination. Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of notes may be converted upon consummation of a Business Combination into additional Private Units at a price of $10.00 per Unit. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans.

COMMITMENTS

COMMITMENTS	9 Months Ended
	Nov. 30, 2019
COMMITMENTS
COMMITMENTS	NOTE 7. COMMITMENTS Registration Rights Pursuant to a registration rights agreement entered into on August 20, 2018, the holders of the founder shares, Private Units (and their underlying securities) and any Units that may be issued upon conversion of the Working Capital Loans (and underlying securities) are entitled to registration rights. The holders of 25% 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. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Underwriting Agreement The underwriters are entitled to a deferred fee of 3.50% of the gross proceeds of the Initial Public Offering, or $2,213,750. The deferred fee will be paid in cash only upon the closing of a Business Combination from the amounts held in the Trust Account, subject to the terms of the underwriting agreement.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Nov. 30, 2019
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 8. SHAREHOLDERS’ EQUITY Ordinary Shares — The Company is authorized to issue an unlimited number of ordinary shares at no par value. Holders of the Company’s ordinary shares are entitled to one vote for each share. At November 30, 2019 and February 28, 2019, there were 2,623,262 and 2,602,465 ordinary shares issued and outstanding, respectively, excluding 5,641,801 and 5,662,598 ordinary shares subject to possible redemption, respectively. Preferred Shares — The Company is authorized to issue an unlimited number of preferred shares at no par value, divided into five classes, Class A through Class E, each with such designation, rights and preferences as may be determined by a resolution of the Company’s board of directors to amend the Amended and Restated Memorandum and Articles of Association to create such designations, rights and preferences. The Company has five classes of preferred shares to give the Company flexibility as to the terms on which each Class is issued. All shares of a single class must be issued with the same rights and obligations. Accordingly, starting with five classes of preferred shares will allow the Company to issue shares at different times on different terms. At November 30, 2019 and February 28, 2019, there are no preferred shares designated, issued or outstanding. Warrants — The Public Warrants will become exercisable on the later of (a) the consummation of a Business Combination or (b) 12 months from the effective date of the registration statement relating to the Initial Public Offering. No Public Warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the ordinary shares issuable upon exercise of the Public Warrants and a current prospectus relating to such ordinary shares. Notwithstanding the foregoing, if a registration statement covering the ordinary shares issuable upon the exercise of the Public Warrants is not effective within 90 days from the consummation of a Business Combination, the holders may, until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise the Public Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. If an exemption from registration is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation. The Company may call the warrants for redemption (excluding the Private Warrants), in whole and not in part, at a price of $0.01 per warrant: · at any time while the Public Warrants are exercisable, · upon not less than 30 days’ prior written notice of redemption to each Public Warrant holder, · if, and only if, the reported last sale price of the ordinary shares equals or exceeds $21.00 per share, for any 20 trading days within a 30-trading day period ending on the third trading day prior to the notice of redemption to Public Warrant holders, and · if, and only if, there is a current registration statement in effect with respect to the issuance of the ordinary shares underlying such warrants at the time of redemption and for the entire 30‑day trading period referred to above and continuing each day thereafter until the date of redemption. The Private Warrants are identical to the Public Warrants underlying the Units being sold in the Initial Public Offering, except that the Private Warrants and the ordinary shares issuable upon the exercise of the Private Warrants will not be transferable, assignable or salable until after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Warrants will be exercisable on a cashless basis and will be non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Nov. 30, 2019
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 9. 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 November 30, 2019 and February 28, 2019, indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: November 30, February 28, Description Level 2019 2019 Assets: Marketable securities held in Trust Account 1 $ 66,322,741 $ 65,241,920

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Nov. 30, 2019
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Nov. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 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 complete 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 February 28, 2019 as filed with the SEC on May 22, 2019, which contains the audited financial statements and notes thereto. The financial information as of February 28, 2019 is derived from the audited financial statements presented in the Company’s Annual Report on Form 10-K for the period from March 20, 2018 (inception) through February 28, 2019. The interim results for the three and nine months ended November 30, 2019 are not necessarily indicative of the results to be expected for the year ending February 29, 2020 or for any future interim periods.
Emerging growth company	Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, 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 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. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
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.
Cash and cash equivalents	Cash and cash equivalents The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of November 30, 2019 and February 28, 2019.
Marketable securities held in Trust Account	Marketable securities held in Trust Account At November 30, 2019 and February 28, 2019, the assets held in the Trust Account were substantially held in U.S. Treasury Bills.
Ordinary shares subject to possible redemption	Ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Ordinary shares subject to mandatory redemption are classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) are classified as temporary equity. At all other times, ordinary shares are classified as shareholders’ equity. The Company’s ordinary shares feature certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, ordinary shares subject to possible redemption are presented at redemption value as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheet.
Income taxes	Income taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the British Virgin Islands is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of November 30, 2019 and February 28, 2019. 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 foreign taxing authorities in the area 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 foreign tax laws. The Company’s tax provision is zero and it has no deferred tax assets. The Company is considered to be an exempted British Virgin Islands Company and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States.
Net loss per ordinary share	Net loss per ordinary share Net loss per ordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding for the period. The Company applies the two-class method in calculating earnings per share. Ordinary shares subject to possible redemption at November 30, 2019 and 2018, which are not currently redeemable and are not redeemable at fair value, have been excluded from the calculation of basic net loss per ordinary share since such ordinary shares, if redeemed, only participate in their pro rata share of the Trust Account earnings. The Company has not considered the effect of warrants sold in the Initial Public Offering and private placement to purchase 6,683,813 ordinary shares in the calculation of diluted loss per share, since the exercise of the warrants are contingent upon the occurrence of future events. As a result, diluted net loss per ordinary share is the same as basic net loss per ordinary share for the periods.
Reconciliation of net loss per ordinary share	Reconciliation of net loss per ordinary share The Company’s net income is adjusted for the portion of income that is attributable to ordinary shares subject to possible redemption, as these shares only participate in the earnings of the Trust Account and not the income or losses of the Company. Accordingly, basic and diluted loss per ordinary share is calculated as follows: For the Period from March 20, Nine 2018 Three Months Months (inception) Ended Ended through November 30, November 30, November 30, 2019 2018 2019 2018 Net income $ 136,808 $ 263,223 $ 749,554 $ 267,569 Less: Income attributable to ordinary shares subject to possible redemption (270,124) (306,626) (964,092) (324,551) Adjusted net loss $ (133,316) $ (43,403) $ (214,538) $ (56,982) Weighted average ordinary shares outstanding, basic and diluted 2,610,490 2,596,282 2,606,031 1,841,745 Basic and diluted net loss per ordinary share $ (0.05) $ (0.02) $ (0.08) $ (0.03)
Concentration of credit risk	Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At November 30, 2019 and February 28, 2019, the Company had not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Fair value of financial instruments	Fair value of financial instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.
Recently issued accounting standards	Recently issued accounting standards Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s condensed financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Nov. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Reconciliation of net loss per ordinary share	Accordingly, basic and diluted loss per ordinary share is calculated as follows: For the Period from March 20, Nine 2018 Three Months Months (inception) Ended Ended through November 30, November 30, November 30, 2019 2018 2019 2018 Net income $ 136,808 $ 263,223 $ 749,554 $ 267,569 Less: Income attributable to ordinary shares subject to possible redemption (270,124) (306,626) (964,092) (324,551) Adjusted net loss $ (133,316) $ (43,403) $ (214,538) $ (56,982) Weighted average ordinary shares outstanding, basic and diluted 2,610,490 2,596,282 2,606,031 1,841,745 Basic and diluted net loss per ordinary share $ (0.05) $ (0.02) $ (0.08) $ (0.03)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Nov. 30, 2019
FAIR VALUE MEASUREMENTS
Schedule of Fair value assets measured on recurring basis	The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at November 30, 2019 and February 28, 2019, indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: November 30, February 28, Description Level 2019 2019 Assets: Marketable securities held in Trust Account 1 $ 66,322,741 $ 65,241,920

DESCRIPTION OF ORGANIZATION A_2

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details) - USD ($)	Aug. 30, 2018	Aug. 23, 2018	Aug. 30, 2018	Mar. 23, 2018	Nov. 30, 2018	Nov. 30, 2019	Aug. 31, 2019	Feb. 28, 2019
Units Conversion Description				Each Unit consists of one ordinary share of the Company and one warrant of the Company (which is redeemable under certain circumstances) (the "Public Warrants"), with each Public Warrant entitling the holder thereof to purchase one ordinary share of the Company for $11.50 per share.
Share Price	$ 10.20	$ 10.20	$ 10.20
Sale of Stock, Consideration Received on Transaction	$ 8,415,000					$ 56,100,000
Proceeds from Issuance of Private Placement					$ 3,588,130	$ 0
Redemption Price						$ 10.2
Business Combination Period						Feb. 23, 2020
Impact of Incomplete Business Combination Within Combination Period						If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than five business days thereafter, redeem 100% of the outstanding Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (net of taxes payable and less up to $50,000 of interest to pay liquidation expenses), which redemption will completely extinguish public shareholders' rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining shareholders and the Company's board of directors, proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company, subject in each case to its obligations to provide for claims of creditors and the requirements of applicable law.
Marketable securities held in Trust Account						$ 66,322,741		$ 65,241,920
Payments to Acquire Restricted Investments	64,515,000				64,515,000	0
Sale of Stock Transaction Costs			$ 4,027,962
Payments for Underwriting Expense			1,423,125
Deferred Underwriting Fee Payable	$ 2,213,750		2,213,750			2,213,750		2,213,750
Payments of Stock Issuance Costs			$ 391,087		$ 391,087	0
Cash						134,308		$ 313,049
Minimum Net Intangible Assets Requirement to Proceed With Business Combination						$ 5,000,001
Minimum [Member]
Restriction On Redemption Rights For Percentage Of Public Shares						20.00%
Warrant [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.50	$ 11.50	$ 11.50
IPO [Member]
Sale of Stock, Number of Shares Issued in Transaction	825,000	5,500,000				6,325,000
Sale of Stock, Price Per Share	$ 10	$ 10	10
Proceeds from Issuance Initial Public Offering		$ 55,000,000
Share Price						$ 10.20
Deferred Underwriting Fee Payable							$ 2,213,750
Over-Allotment Option [Member]
Sale of Stock, Number of Shares Issued in Transaction	825,000
Sale of Stock, Price Per Share	$ 10		10
Proceeds from Issuance or Sale of Equity	$ 8,600,630
Private Placement [Member]
Sale of Stock, Number of Shares Issued in Transaction	35,063	323,750
Sale of Stock, Price Per Share	$ 10	$ 10	$ 10
Proceeds from Issuance of Private Placement	$ 350,630	$ 3,237,500

LIQUIDITY AND GOING CONCERN (De

LIQUIDITY AND GOING CONCERN (Details) - USD ($)	3 Months Ended		8 Months Ended	9 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2018	Nov. 30, 2019	Feb. 28, 2019
LIQUIDITY AND GOING CONCERN
Cash in operating bank accounts	$ 134,308			$ 134,308	$ 313,049
Assets Held-in-trust	66,322,741			66,322,741
Working capital	49,862			49,862
Interest income	$ 323,704	$ 353,261	$ 377,331	$ 1,074,188

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	2 Months Ended	3 Months Ended					8 Months Ended	9 Months Ended
	May 31, 2018	Nov. 30, 2019	Aug. 31, 2019	May 31, 2019	Nov. 30, 2018	Aug. 31, 2018	Nov. 30, 2018	Nov. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Net income	$ (13,341)	$ 136,808	$ 274,320	$ 338,426	$ 263,223	$ 17,687	$ 267,569	$ 749,554
Less: Income attributable to ordinary shares subject to possible redemption		(270,124)			(306,626)		(324,551)	(964,092)
Adjusted net loss		$ (133,316)			$ (43,403)		$ (56,982)	$ (214,538)
Weighted average ordinary shares outstanding, basic and diluted		2,610,490			2,596,282		1,841,745	2,606,031
Basic and diluted net loss per ordinary share		$ (0.05)			$ (0.02)		$ (0.03)	$ (0.08)

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($)	9 Months Ended
	Nov. 30, 2019	Feb. 28, 2019
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract]
Unrecognized Tax Benefits	$ 0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0	$ 0
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Tax provision	0
Deferred Tax Assets, Net, Classification [Abstract]
Deferred tax assets	0
Net loss per ordinary share
Cash, FDIC Insured Amount	$ 250,000
Warrant [Member] | IPO [Member]
Net loss per ordinary share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,683,813

INITIAL PUBLIC OFFERING (Detail

INITIAL PUBLIC OFFERING (Details) - $ / shares	Aug. 30, 2018	Aug. 23, 2018	Nov. 30, 2019
Warrant [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.50	$ 11.50
IPO [Member]
Sale of Stock, Number of Shares Issued in Transaction	825,000	5,500,000	6,325,000
Sale of Stock, Price Per Share	$ 10	$ 10
Over-Allotment Option [Member]
Sale of Stock, Number of Shares Issued in Transaction	825,000
Sale of Stock, Price Per Share	$ 10

PRIVATE PLACEMENT (Details)

PRIVATE PLACEMENT (Details) - USD ($)	Aug. 30, 2018	Aug. 23, 2018	Nov. 30, 2018	Nov. 30, 2019
Proceeds from Issuance of Private Placement			$ 3,588,130	$ 0
Warrant [Member]
Warrant exercise price	$ 11.50	$ 11.50
Private Placement [Member]
Sale of Stock, Number of Shares Issued in Transaction	35,063	323,750
Sale of Stock, Price Per Share	$ 10	$ 10
Proceeds from Issuance of Private Placement	$ 350,630	$ 3,237,500
Private Placement [Member] | Sponsor
Sale of Stock, Number of Shares Issued in Transaction	33,000	310,000
Private Placement [Member] | Underwriter [Member]
Sale of Stock, Number of Shares Issued in Transaction	2,063	13,750

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Aug. 20, 2018	Aug. 30, 2018	Aug. 20, 2018	Jun. 30, 2018	Nov. 30, 2018	Nov. 30, 2019
Related Party Transaction [Line Items]
Proceeds from Issuance of Common Stock					$ 25,000	$ 0
Founder Shares Forfeiture Description			The founder shares included an aggregate of up to 206,250 shares subject to forfeiture by the Sponsor to the extent that the underwriters' over-allotment was not exercised in full or in part, so that the Sponsor would collectively own 20% of the Company's issued and outstanding ordinary shares after the Initial Public Offering.
Description Of Sale Of Founder Shares						The Sponsor has agreed not to transfer, assign or sell any of the founder shares (except to certain permitted transferees) until the earlier of  (i) one year after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company's ordinary shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing 150 days after a Business Combination.
Debt Instrument, Convertible, Conversion Price						$ 10
Debt Conversion Original Debt to be Converted Amount						$ 1,500,000
Founder Shares [Member]
Related Party Transaction [Line Items]
Proceeds from Issuance of Common Stock				$ 25,000
Founder Shares Dividend Ratio	1.1-for-1
Founder Shares Outstanding	1,581,250		1,581,250
Portion Of Shares Held By Sponsor	20.00%
Founder Shares are no longer subject to forfeiture				1,437,500
Over-Allotment Option [Member] | Founder Shares [Member]
Related Party Transaction [Line Items]
Founder Shares are no longer subject to forfeiture		206,250

COMMITMENTS (Details)

COMMITMENTS (Details) - USD ($)	Aug. 20, 2018	Nov. 30, 2019	Aug. 31, 2019	Feb. 28, 2019	Aug. 30, 2018
Portion Of Shareholders Entitled With Three Demands	25.00%
Deferred Underwriting Fee Payable		$ 2,213,750		$ 2,213,750	$ 2,213,750
IPO [Member]
Deferred Underwriting Fee Percentage			3.50%
Deferred Underwriting Fee Payable			$ 2,213,750

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details)	9 Months Ended	12 Months Ended
	Nov. 30, 2019Vote$ / sharesshares	Feb. 28, 2019Vote$ / sharesshares	Nov. 30, 2018shares
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common Stock, No Par Value | $ / shares	$ 0	$ 0
Number Of Votes Per Ordinary Share | Vote	1	1
Common Stock, Shares, Issued	2,623,262	2,602,465
Common Stock, Shares, Outstanding	2,623,262	2,602,465
Temporary Equity, Shares Issued	5,641,801	5,662,598	5,664,528
Preferred Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Preferred Stock, No Par Value | $ / shares	$ 0	$ 0
Preferred Stock, Shares Designated	0	0
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Warrant [Member]
Expiration period of warrants	5 years
Warrant Redemption Price Per Warrant | $ / shares	$ 0.01
Minimum Sale Price of Common Stock | $ / shares	$ 21

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Nov. 30, 2019	Feb. 28, 2019
Fair Value, Inputs, Level 1 [Member]
Assets:
Marketable securities held in Trust Account	$ 66,322,741	$ 65,241,920