Longevity Acquisition (LOAC) 10-Q 10 Jan 20 2020 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
Amendment Flag	false
Document Period End Date	Nov. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	Longevity Acquisition Corp
Entity Central Index Key	0001743858
Current Fiscal Year End Date	--02-28
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		5,270,000
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	true
Trading Symbol	LOACU
Entity Shell Company	true

CONDENSED BALANCE SHEET

CONDENSED BALANCE SHEET - USD ($)	Nov. 30, 2019	Feb. 28, 2019
Current Assets
Cash	$ 91,731	$ 639,102
Prepaid expenses and other current assets	112,361	64,079
Total Current Assets	204,092	703,181
Marketable securities held in Trust Account	41,860,503	40,425,370
Total Assets	42,064,595	41,128,551
Current Liabilities
Account payable and accrued expenses	110,240	48,887
Total Current Liabilities	110,240	48,887
Convertible promissory note - related party	1,100,000
Deferred underwriting fee payable	1,000,000	1,000,000
Total Liabilities	2,210,240	1,048,887
Commitments
Ordinary shares subject to possible redemption, 3,330,524 and 3,471,054 shares at redemption value at November 30, 2019 and February 28, 2019, respectively	34,854,352	35,079,661
Shareholders' Equity
Preferred shares, no par value; unlimited shares authorized, none issued and outstanding	0	0
Ordinary shares, no par value; unlimited shares authorized; 1,939,476 and 1,798,946 shares issued and outstanding (excluding 3,330,524 and 3,471,054 shares subject to possible redemption) at November 30, 2019 and February 28, 2019, respectively	5,239,581	5,014,272
Accumulated deficit	(239,578)	(14,269)
Total Shareholders' equity	5,000,003	5,000,003
Total Liabilities and Shareholders' Equity	$ 42,064,595	$ 41,128,551

CONDENSED BALANCE SHEET (Parent

CONDENSED BALANCE SHEET (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Nov. 30, 2019	Feb. 28, 2019
Temporary Equity, Shares Issued	3,330,524	3,471,054
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized, Unlimited	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	Unlimited	Unlimited
Common Stock, Shares, Issued	1,939,476	1,939,476
Common Stock, Shares, Outstanding	1,798,946	1,798,946
Common Stock [Member]
Temporary Equity, Shares Issued	3,330,524	3,471,054

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)		3 Months Ended		9 Months Ended
		Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
CONDENSED STATEMENTS OF OPERATIONS
Operating and formation costs		$ 289,884	$ 216,669	$ 860,442	$ 223,617
Loss from operations		(289,884)	(216,669)	(860,442)	(223,617)
Other income:
Interest income		180,135	210,129	635,133	210,129
Unrealized loss		(6,374)	(9,017)		(9,017)
Other income, net		173,761	201,112	635,133	201,112
Net Loss		$ (116,123)	$ (15,557)	$ (225,309)	$ (22,505)
Weighted average ordinary shares outstanding, basic and diluted (in shares)	[1]	1,881,942	1,761,302	1,833,297	1,391,404
Basic and diluted net loss per ordinary share (in dollars per share)	[2]	$ (0.14)	$ (0.11)	$ (0.41)	$ (0.14)
[1]	Excludes an aggregate of up to 3,330,524 and 3,489,597 shares subject to possible redemption at November 30, 2019 and 2018.
[2]	Excludes interest income of $144,673 and $175,450 attributable to shares subject to possible redemption for the three months ended November 30, 2019 and 2018 and $528,812 and $175,450 attributable to shares subject to possible redemption for the nine months ended November 30, 2019 and for the period from March 9, 2018 (inception) through November 30, 2018, respectively (see Note 3).

CONDENSED STATEMENTS OF OPERA_2

CONDENSED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018	Feb. 28, 2019
CONDENSED STATEMENTS OF OPERATIONS
Temporary Equity, Shares Issued	3,330,524	3,489,597	3,330,524	3,489,597	3,471,054
Temporary Equity, Accretion to Redemption Value, Adjustment	$ 144,673	$ 175,450	$ 528,812	$ 175,450

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Ordinary Shares [Member]	Accumulated Deficit [Member]	Total
Outstanding, Beginning Balance at Mar. 09, 2018	$ 0	$ 0	$ 0
Shares, Outstanding, Beginning Balance at Mar. 09, 2018	0
Issuance of ordinary share to Sponsor	$ 0	0	0
Issuance of ordinary share to Sponsor, Shares	1
Net loss	$ 0	(2,350)	(2,350)
Outstanding, Ending Balance at May. 31, 2018	$ 0	(2,350)	(2,350)
Shares, Outstanding, Ending Balance at May. 31, 2018	1
Issuance of ordinary share to Sponsor	$ 25,000	0	25,000
Issuance of ordinary share to Sponsor, Shares	1,150,000
Net loss	$ 0	(4,598)	(4,598)
Cancellation value of ordinary share to Sponsor	$ 0	0	0
Cancellation of ordinary share to Sponsor, Shares	(1)
Sale of 4,000,000 Units, net of underwriting discounts and offering expenses	$ 37,368,833	0	$ 37,368,833
Sale of 4,000,000 Units, net of underwriting discounts and offering expenses, Shares	4,000,000		4,000,000
Sale of 270,000 Private Units	$ 2,700,000	0	$ 2,700,000
Sale of 270,000 Private Units, Shares	270,000		270,000
Proceeds from the sale of unit purchase option	$ 100	0	$ 100
Proceeds from the sale of unit purchase option, Shares	0
Ordinary shares subject to redemption	$ (35,086,980)	0	(35,086,980)
Ordinary shares subject to redemption, Shares	(3,508,698)
Outstanding, Ending Balance at Aug. 31, 2018	$ 5,006,953	(6,948)	5,000,005
Shares, Outstanding, Ending Balance at Aug. 31, 2018	1,911,302
Net loss	$ 0	(15,557)	(15,557)
Change in value of ordinary shares subject to possible redemption	$ 15,560	0	15,560
Change in value of ordinary shares subject to possible redemption (in shares)	19,101
Forfeiture of founder shares	$ 0	0	0
Forfeiture of founder shares, shares	(150,000)
Outstanding, Ending Balance at Nov. 30, 2018	$ 5,022,513	(22,505)	5,000,008
Shares, Outstanding, Ending Balance at Nov. 30, 2018	1,780,403
Outstanding, Beginning Balance at Feb. 28, 2019	$ 5,014,272	(14,269)	5,000,003
Shares, Outstanding, Beginning Balance at Feb. 28, 2019	1,798,946
Net loss	$ 0	9,571	9,571
Change in value of ordinary shares subject to possible redemption	$ (9,573)	0	(9,573)
Change in value of ordinary shares subject to possible redemption (in shares)	20,587
Outstanding, Ending Balance at May. 31, 2019	$ 5,004,699	(4,698)	5,000,001
Shares, Outstanding, Ending Balance at May. 31, 2019	1,819,533
Outstanding, Beginning Balance at Feb. 28, 2019	$ 5,014,272	(14,269)	5,000,003
Shares, Outstanding, Beginning Balance at Feb. 28, 2019	1,798,946
Net loss			(225,309)
Outstanding, Ending Balance at Nov. 30, 2019	$ 5,239,581	(239,578)	5,000,003
Shares, Outstanding, Ending Balance at Nov. 30, 2019	1,939,476
Outstanding, Beginning Balance at May. 31, 2019	$ 5,004,699	(4,698)	5,000,001
Shares, Outstanding, Beginning Balance at May. 31, 2019	1,819,533
Net loss	$ 0	(118,757)	(118,757)
Change in value of ordinary shares subject to possible redemption	$ 118,765	0	118,765
Change in value of ordinary shares subject to possible redemption (in shares)	62,409
Outstanding, Ending Balance at Aug. 31, 2019	$ 5,123,464	(123,455)	5,000,009
Shares, Outstanding, Ending Balance at Aug. 31, 2019	1,881,942
Net loss	$ 0	(116,123)	(116,123)
Change in value of ordinary shares subject to possible redemption	$ 116,117	0	116,117
Change in value of ordinary shares subject to possible redemption (in shares)	57,534
Outstanding, Ending Balance at Nov. 30, 2019	$ 5,239,581	$ (239,578)	$ 5,000,003
Shares, Outstanding, Ending Balance at Nov. 30, 2019	1,939,476

CONDENSED STATEMENTS OF CHANG_2

CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Aug. 31, 2018shares
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Stock Issued During Period, Shares, New Issues	4,000,000
Stock issued in private units	270,000

CONDENSED STATEMENT OF CASH FLO

CONDENSED STATEMENT OF CASH FLOWS - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2019	Nov. 30, 2018	Nov. 30, 2019	Nov. 30, 2018
Cash Flows from Operating Activities:
Net loss	$ (116,123)	$ (15,557)	$ (225,309)	$ (22,505)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest earned on securities held in Trust Account	(180,135)	(210,129)	(635,133)	(210,129)
Unrealized loss on securities held in Trust Account	6,374	9,017		9,017
Changes in operating assets and liabilities:
Prepaid expenses and other current assets			(48,282)	(94,508)
Accounts payable and accrued expenses			61,353	26,179
Net cash used in operating activities			(847,371)	(291,946)
Cash Flows from Investing Activities:
Investment of cash into Trust Account			(800,000)	(40,000,000)
Net cash used in investing activities			(800,000)	(40,000,000)
Cash Flows from Financing Activities:
Proceeds from issuance of founder shares to Sponsor				25,000
Proceeds from sale of ordinary shares, net of underwriting discounts paid				38,800,000
Proceeds from sale of Private Units				2,700,000
Proceeds from sale of unit purchase option				100
Payment of offering costs				(431,167)
Proceeds from convertible promissory notes - related party			1,100,000	202,415
Repayment of promissory note - related party				(202,415)
Net cash provided by financing activities			1,100,000	41,093,933
Net Change in Cash			(547,371)	801,987
Cash - Beginning			639,102
Cash - Ending	$ 91,731	$ 801,987	91,731	801,987
Non-Cash investing and financing activities:
Initial classification of ordinary shares subject to possible redemption				35,086,980
Deferred underwriting fee payable				1,000,000
Change in value of ordinary shares subject to possible redemption			$ (225,309)	$ (15,560)

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 Longevity Acquisition Corporation (the “Company”) is a blank check company incorporated in the British Virgin Islands on March 9, 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 have their primary operations located in China. At November 30, 2019, the Company had not yet commenced any operations. All activity through November 30, 2019 relates to the Company’s formation, its initial public offering (“Initial Public Offering”), which is described below, and identifying a target company for a Business Combination. The registration statement for the Initial Public Offering was declared effective on August 28, 2018. On August 31, 2018, the Company consummated the Initial Public Offering of 4,000,000 units (“Units” and, with respect to the ordinary shares included in the Units sold, the “Public Shares”), at $10.00 per Unit, generating gross proceeds of $40,000,000, which is described in Note 4. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 270,000 units (the “Private Units”) at a price of $10.00 per Private Unit in a private placement to the Company’s sponsor, Whale Management Corporation (the “Sponsor”), and the underwriter of the Initial Public Offering generating gross proceeds of $2,700,000, which is described in Note 5. Following the closing of the Initial Public Offering on August 31, 2018, an amount of $40,000,000 ($10.00 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 has been 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 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. Transaction costs relating to the Initial Public Offering amounted to $2,631,167, consisting of $1,200,000 of underwriting fees, $1,000,000 of deferred underwriting fees and $431,167 of offering costs. As of November 30, 2019, $91,731 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 on interest earned) at the time of the signing of an agreement to enter into 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. In connection with a proposed Business Combination, 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 15% 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, subject to increase of up to an additional $0.10 per share in the event that the Sponsor elects to extend the period of time to consummate a Business Combination (see below), 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 or rights. If a shareholder vote is not required and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Memorandum and Articles of Association, offer such redemption pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), 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 Sponsor and the Company’s officers and directors and the underwriter (the “initial shareholders”) have agreed (a) to vote their founder shares, the ordinary shares included in the Private Units (the “Private Shares”) and any Public Shares purchased 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 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 Shares) 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 Shares shall not participate in any liquidating distributions upon winding up if a Business Combination is not consummated. However, the initial shareholders will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares purchased after the Initial Public Offering if the Company fails to complete its Business Combination. On August 20, 2019, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on November 27, 2019, and, accordingly, $400,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from the Sponsor. The note is repayable upon the consummation of a Business Combination (see Note 6). On November 19, 2019, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on February 28, 2020, and, accordingly, $400,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from the Sponsor. The note is repayable upon the consummation of a Business Combination (see Note 10). The Company will have until February 28, 2020 to consummate a Business Combination. However, if the Company anticipates that it may not be able to consummate a Business Combination by February 28, 2020, the Company may extend the period of time to consummate a Business Combination one time, by an additional three months (for a total of 21 months to complete a Business Combination (the “Combination Period”)). In order to extend the time available for the Company to consummate a Business Combination, the Sponsor or its affiliate or designees must deposit into the Trust Account $400,000 ($0.10 per Unit), on or prior to the date of the applicable deadline, for the three -month extension. 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 interest to pay dissolution expenses up to $50,000), divided by the number of then outstanding Public Shares, 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 ($10.00). 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 $10.00 per share, 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

LIQUIDITY	9 Months Ended
	Nov. 30, 2019
LIQUIDITY
LIQUIDITY	NOTE 2. LIQUIDITY As of November 30, 2019, the Company had $91,731 in its operating bank accounts, $41,860,503 in marketable securities held in the Trust Account to be used for a Business Combination or to repurchase or convert shares in connection therewith and working capital of $93,852. As of November 30, 2019, approximately $1,061,000 of the amount on deposit in the Trust Account represented interest income, which is available to pay the Company’s tax obligations, if any. To date the Company has not withdrawn any interest from the Trust Account in order to pay its taxes. Until the consummation of a Business Combination, the Company will be using the funds not held in the Trust Account primarily to pay the expenses of being a public company and to identify and evaluate target businesses, 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 consummate a Business Combination. Subsequent to the consummation of the Initial Public Offering, the Company entered into four consulting arrangements for services to help identify and introduce the Company to potential targets and provide assistance with due diligence, deal structuring and documentation of a Business Combination. These agreements provide for aggregate monthly fees of approximately $29,000. The Company may raise additional capital through loans or additional investments from the Sponsor, an affiliate of the Sponsor, or its officers and directors. The Company’s officers and directors and the Sponsor or its affiliates may, but are not obligated to, loan the Company funds, from time to time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs. On September 13, 2019, the Company issued an unsecured convertible promissory note (the “Convertible Note”) in the principal amount of up to $800,000 to the Sponsor. The Convertible Note bears no interest and is repayable in full upon consummation of a Business Combination. The Company does not believe it will need to raise additional funds in order to meet expenditures required for operating its business. Other than the Convertible Note discussed above, neither the Sponsor or its affiliates, nor any of the officers or directors are under any obligation to advance funds to, or invest in, the Company. Accordingly, the Company may not be able to obtain additional financing. Should circumstances change and 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. Even if the Company can obtain sufficient financing or raise additional capital, it only has until February 28, 2020 (or May 31, 2020, if fully extended) to consummate a Business Combination. There is no assurance that the Company will be able to do so prior to February 28, 2020 (or May 31, 2020, if fully extended).

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 period from March 9, 2018 (inception) through February 28, 2019 as filed with the SEC on May 29, 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 9, 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 28, 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 auditor 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, substantially all of the assets held in the Trust Account were 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 management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. The Company’s tax provision is zero because the Company is organized in the British Virgin Islands with no connection to any other taxable jurisdiction. As such, the Company 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 (1) warrants sold in the Initial Public Offering and private placement to purchase 2,135,000 ordinary shares, (2) rights sold in the Initial Public Offering and private placement that convert into 427,000 ordinary shares, and (3) a unit purchase option sold to the underwriter that is exercisable for 240,000 ordinary shares, warrants to purchase 120,000 ordinary shares and rights that convert into 24,000 ordinary shares, in the calculation of diluted loss per share, since the exercise of the warrants and the conversion of the rights into ordinary shares 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 loss 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 9, 2018 Three Months Nine Months (inception) Ended Ended through November 30, November 30, November 30, 2019 2018 2019 2018 Net loss $ (116,123) $ (15,557) $ (225,309) $ (22,505) Less: Income attributable to ordinary shares subject to possible redemption (144,673) (175,450) (528,812) (175,450) Adjusted net loss $ (260,796) $ (191,007) $ (754,121) $ (197,955) Weighted average ordinary shares outstanding, basic and diluted 1,881,942 1,761,302 1,833,297 1,391,404 Basic and diluted net loss per ordinary share $ (0.14) $ (0.11) $ (0.41) $ (0.14) Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution. The Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account. 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 4,000,000 Units at a purchase price of $10.00 per Unit. Each Unit consists of one ordinary share, one right (“Public Right”) and one redeemable warrant (“Public Warrant”). Each Public Right will convert into one-tenth (1/10) of one ordinary share at the closing of a Business Combination (see Note 8). Each Public Warrant entitles the holder to purchase one-half (1/2) of one ordinary share at an exercise price of $11.50 per full share (see Note 8).

PRIVATE PLACEMENT

PRIVATE PLACEMENT	9 Months Ended
	Nov. 30, 2019
PRIVATE PLACEMENT
PRIVATE PLACEMENT	NOTE 5. PRIVATE PLACEMENT Simultaneously with the Initial Public Offering, the Sponsor and the underwriter of the Initial Public Offering purchased an aggregate of 270,000 Private Units at a price of $10.00 per Private Unit, of which 250,000 Private Units were purchased by the Sponsor and 20,000 Private Units were purchased by the underwriter ($2,700,000 in the aggregate). The Private Units are identical to the Units sold in the Initial Public Offering, except for the private warrants (“Private Warrants”), as described in Note 8. 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 and Private Rights 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 1,150,000 founder shares to the Sponsor for an aggregate purchase price of $25,000 in cash. The founder shares included an aggregate of up to 150,000 shares that were 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 (assuming the initial shareholders did not purchase any Public Shares in the Initial Public Offering and excluding the Private Units and underlying securities). The underwriters’ election to exercise their over-allotment option expired unexercised on October 15, 2018 and, as a result, 150,000 Founder Shares were forfeited, resulting in 1,000,000 Founder Shares outstanding as of November 30, 2019 and February 28, 2019. The initial shareholders have 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, or earlier if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property. Promissory Note – Related Party On May 31, 2018, the Company issued an unsecured promissory note to the Sponsor, pursuant to which the Company borrowed an aggregate principal amount of $202,415. The note was non-interest bearing and payable on the earlier of (i) December 31, 2018 or (ii) the consummation of the Initial Public Offering. The Promissory Note was repaid upon the consummation of the Initial Public Offering on August 31, 2018. Administrative Services Arrangement An affiliate of a member of the Company’s Sponsor entered into an agreement commencing on August 28, 2018 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 has agreed to pay such entity $10,000 per month for these services. For the three and nine months ended November 30, 2019, the Company incurred $30,000 and $90,000 in fees for these services, respectively, of which $20,000 is included in accounts payable and accrued expenses in the accompanying condensed balance sheets as of November 30, 2019 and February 28, 2019. Related Party Loans In order to finance transaction costs in connection with a Business Combination, the 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. On September 13, 2019, the Company issued a Convertible Note in the aggregate amount of $800,000 to the Sponsor. As of November 30, 2019, the outstanding balance under the Convertible Note amounted to an aggregate of $300,000. Related Party Extension Loans As discussed in Note 1, the Company may extend the period of time to consummate a Business Combination up to three times, each by an additional three months (for a total of 21 months to complete a Business Combination). In order to extend the time available for the Company to consummate a Business Combination, the Sponsor or its affiliates or designees must deposit into the Trust Account $400,000 ($0.10 per Unit), on or prior to the date of the applicable deadline, for each three month extension up to an aggregate of $1,200,000, or $0.30 per Unit. Any such payments would be made in the form of a loan. If the Company completes a Business Combination, the Company would repay such loaned amounts out of the proceeds of the Trust Account released to the Company. If the Company does not complete a Business Combination, the Company will not repay such loans. Furthermore, the letter agreement with the initial shareholders contains a provision pursuant to which the Sponsor has agreed to waive its right to be repaid for such loans in the event that the Company does not complete a Business Combination. The Sponsor and its affiliates or designees are not obligated to fund the Trust Account to extend the time for the Company to complete a Business Combination. On August 20, 2019, the Company issued an unsecured convertible promissory note in the amount of $400,000, representing $0.10 per public share, to the Sponsor to fund the three-month extension payment and, accordingly, $400,000 was deposited into the Trust Account. On November 19, 2019, the Company issued an unsecured convertible promissory note in the amount of $400,000, representing $0.10 per public share, to the Sponsor to fund the second three-month extension payment and, accordingly, $400,000 was deposited into the Trust Account. The Company now has until February 28, 2020 to consummate a Business Combination. The notes do not bear interest, mature upon closing of a Business Combination by the Company and are convertible, at the option of the holder, into additional Private Units at a price of $10.00 per Unit. As of November 30, 2019, the outstanding balance under the convertible promissory notes amounted to an aggregate of $800,000.

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 28, 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 a majority 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 the foregoing, the underwriter may not exercise its demand and “piggyback” registration rights after five (5) and seven (7) years after the effective date of the registration statement and may not exercise its demand rights on more than one occasion. 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 two and one-half percent (2.5%) of the gross proceeds of the Initial Public Offering, or $1,000,000. Pursuant to the Company’s agreement with the underwriter, the Company will have the right to pay up to $400,000 of such amount to other advisors retained by the Company to assist the Company in connection with a Business Combination; provided, however, that the Company may, in its sole discretion, apply such 1.0% fee to other deal expenses instead.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Nov. 30, 2019
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 8. SHAREHOLDERS’ EQUITY Preferred Shares — The Company is authorized to issue an unlimited number of no par value preferred shares, 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. Ordinary Shares — The Company is authorized to issue an unlimited number of no par value ordinary shares. 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 1,939,476 and 1,798,946 ordinary shares issued and outstanding, excluding 3,330,524 and 3,471,054 ordinary shares subject to possible redemption, respectively. Rights — Each holder of a right will receive one-tenth (1/10) of one ordinary share upon consummation of a Business Combination, even if the holder of such right redeemed all Public Shares held by it in connection with a Business Combination. No fractional shares will be issued upon exchange of the rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of a Business Combination as the consideration related thereto has been included in the Unit purchase price paid for by investors in the Initial Public Offering. If the Company enters into a definitive agreement for a Business Combination in which the Company will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share consideration the holders of the ordinary shares will receive in the transaction on an as-converted into ordinary share basis and each holder of a right will be required to affirmatively convert its rights in order to receive the 1/10 share underlying each right (without paying additional consideration). The shares issuable upon exchange of the rights will be freely tradable (except to the extent held by affiliates of the Company). 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 rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of a Business Combination. Additionally, in no event will the Company be required to net cash settle the rights. Accordingly, the rights may expire worthless. Warrants — The Public Warrants will become exercisable on the later of (a) the consummation of a Business Combination or (b) August 28, 2019. 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 $18.00 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 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. 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. The Private Warrants are identical to the Public Warrants underlying the Units 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 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Warrants will be exercisable on a cashless basis and 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. Unit Purchase Option On August 31, 2018, the Company sold to the underwriter (and its designees), for $100, an option to purchase up to 240,000 Units exercisable at $11.50 per Unit (or an aggregate exercise price of $2,760,000) commencing on the later of August 28, 2019 and the consummation of a Business Combination. The unit purchase option may be exercised for cash or on a cashless basis, at the holder’s option, and expires August 28, 2023. The Units issuable upon exercise of the option are identical to those offered in the Initial Public Offering. The Company accounted for the unit purchase option, inclusive of the receipt of $100 cash payment, as an expense of the Initial Public Offering resulting in a charge directly to shareholders’ equity. The Company estimated the fair value of the unit purchase option to be approximately $728,000 (or $3.03 per Unit) using the Black-Scholes option-pricing model. The fair value of the unit purchase option granted to the underwriters was estimated as of the date of grant using the following assumptions: (1) expected volatility of 35%, (2) risk-free interest rate of 2.74% and (3) expected life of five years. The option and such units purchased pursuant to the option, as well as the ordinary shares underlying such units, the rights included in such units, the ordinary shares that are issuable for the rights included in such units, the warrants included in such units, and the shares underlying such warrants, have been deemed compensation by FINRA and are therefore subject to a 180‑day lock-up pursuant to Rule 5110(g)(1) of FINRA’s NASDAQ Conduct Rules. Additionally, the option may not be sold, transferred, assigned, pledged or hypothecated for a one-year period (including the foregoing 180‑day period) following the date of Initial Public Offering except to any underwriter and selected dealer participating in the Initial Public Offering and their bona fide officers or partners. The option grants to holders demand and “piggyback” rights for periods of five and seven years, respectively, from the effective date of the registration statement with respect to the registration under the Securities Act of the securities directly and indirectly issuable upon exercise of the option. The Company will bear all fees and expenses attendant to registering the securities, other than underwriting commissions which will be paid for by the holders themselves. The exercise price and number of units issuable upon exercise of the option may be adjusted in certain circumstances including in the event of a stock dividend, or the Company’s recapitalization, reorganization, merger or consolidation. However, the option will not be adjusted for issuances of ordinary shares at a price below its exercise price.

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 $ 41,860,503 $ 40,425,370

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 condensed 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 condensed 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 period from March 9, 2018 (inception) through February 28, 2019 as filed with the SEC on May 29, 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 9, 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 28, 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 auditor 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, substantially all of the assets held in the Trust Account were 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 management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. The Company’s tax provision is zero because the Company is organized in the British Virgin Islands with no connection to any other taxable jurisdiction. As such, the Company 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 (1) warrants sold in the Initial Public Offering and private placement to purchase 2,135,000 ordinary shares, (2) rights sold in the Initial Public Offering and private placement that convert into 427,000 ordinary shares, and (3) a unit purchase option sold to the underwriter that is exercisable for 240,000 ordinary shares, warrants to purchase 120,000 ordinary shares and rights that convert into 24,000 ordinary shares, in the calculation of diluted loss per share, since the exercise of the warrants and the conversion of the rights into ordinary shares 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 loss 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 9, 2018 Three Months Nine Months (inception) Ended Ended through November 30, November 30, November 30, 2019 2018 2019 2018 Net loss $ (116,123) $ (15,557) $ (225,309) $ (22,505) Less: Income attributable to ordinary shares subject to possible redemption (144,673) (175,450) (528,812) (175,450) Adjusted net loss $ (260,796) $ (191,007) $ (754,121) $ (197,955) Weighted average ordinary shares outstanding, basic and diluted 1,881,942 1,761,302 1,833,297 1,391,404 Basic and diluted net loss per ordinary share $ (0.14) $ (0.11) $ (0.41) $ (0.14)
Concentration of credit risk	Concentration of credit risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution. The Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.
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	For the Period from March 9, 2018 Three Months Nine Months (inception) Ended Ended through November 30, November 30, November 30, 2019 2018 2019 2018 Net loss $ (116,123) $ (15,557) $ (225,309) $ (22,505) Less: Income attributable to ordinary shares subject to possible redemption (144,673) (175,450) (528,812) (175,450) Adjusted net loss $ (260,796) $ (191,007) $ (754,121) $ (197,955) Weighted average ordinary shares outstanding, basic and diluted 1,881,942 1,761,302 1,833,297 1,391,404 Basic and diluted net loss per ordinary share $ (0.14) $ (0.11) $ (0.41) $ (0.14)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Nov. 30, 2019
FAIR VALUE MEASUREMENTS
Schedule of fair value hierarchy of the valuation inputs	November 30, February 28, Description Level 2019 2019 Assets: Marketable securities held in Trust Account 1 $ 41,860,503 $ 40,425,370

DESCRIPTION OF ORGANIZATION A_2

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details) - USD ($)	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2018	Nov. 30, 2019	Nov. 30, 2018	Feb. 29, 2020	Feb. 28, 2019
Sale of Stock, Price Per Share				$ 10
Proceeds from Issuance Initial Public Offering					$ 38,800,000
Proceeds from Issuance of Private Placement			$ 2,700,000		2,700,000
Payments to Acquire Restricted Investments		$ 40,000,000		$ 800,000	40,000,000
Restricted investment per share		$ 10
Sale of Stock Transaction Costs		$ 2,631,167
Payments for Underwriting Expense		1,200,000
Deferred Underwriting Fee Payable		1,000,000	$ 1,000,000	1,000,000			$ 1,000,000
Payments of Stock Issuance Costs		$ 431,167			$ 431,167
Cash and Cash Equivalents, at Carrying Value				$ 91,731			$ 639,102
NASDAQ Rules For Business Combination Description				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 on interest earned) at the time of the signing of an agreement to enter into 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.
Minimum Net Intangible Assets Requirement to Proceed With Business Combination				$ 5,000,001
Share Redemption Description				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, subject to increase of up to an additional $0.10 per share in the event that the Sponsor elects to extend the period of time to consummate a Business Combination
Amount deposited in Trust Account				$ 400,000		$ 400,000
Extension period to consummate a business combination				3 months
Total period to complete business combination				21 months
Trust account deposit needed to extend time for business combination				$ 400,000
Trust account deposit needed to extend time for business combination (in dollars per share)				$ 0.10
Period to cease operation if no business combination occurs				5 days
Public shares redemption percentage				100.00%
Maximum dissolution expenses covered				$ 50,000
IPO [Member]
Sale of Stock, Number of Shares Issued in Transaction	4,000,000	4,000,000
Sale of Stock, Price Per Share		$ 10	$ 10	$ 10
Proceeds from Issuance Initial Public Offering		$ 40,000,000
Private Placement [Member]
Sale of Stock, Number of Shares Issued in Transaction		270,000
Sale of Stock, Price Per Share		$ 10	$ 10
Proceeds from Issuance of Private Placement		$ 2,700,000

LIQUIDITY (Details)

LIQUIDITY (Details)	Nov. 30, 2019USD ($)agreement	Nov. 19, 2019USD ($)	Sep. 13, 2019USD ($)	Aug. 20, 2019USD ($)	Feb. 28, 2019USD ($)
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 91,731				$ 639,102
Assets Held-in-trust	41,860,503
Working Capital	93,852
Deposit Held In Trust As Interest Income	$ 1,061,000
Number of consulting agreements | agreement	4
Contractual Obligation Payable Per Month For Consulting Services	$ 29,000
Unsecured convertible promissory note
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Debt instrument, principal amount		$ 400,000	$ 800,000	$ 400,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
	Nov. 30, 2019USD ($)shares
Unrecognized Tax Benefits | $	$ 0
Income Tax Examination, Penalties and Interest Accrued | $	0
Income Tax Expense (Benefit) | $	0
Deferred Tax Assets, Gross | $	$ 0
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,135,000
Rights [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	427,000
Unit Purchase Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	240,000
Warrant [Member] | Unit Purchase Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	120,000
Rights [Member] | Unit Purchase Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	24,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional information (Details) - USD ($)		3 Months Ended						9 Months Ended
		Nov. 30, 2019	Aug. 31, 2019	May 31, 2019	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018	Nov. 30, 2019	Nov. 30, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Net loss		$ (116,123)	$ (118,757)	$ 9,571	$ (15,557)	$ (4,598)	$ (2,350)	$ (225,309)	$ (22,505)
Less: Income attributable to ordinary shares subject to possible redemption		(144,673)			(175,450)			(528,812)	(175,450)
Adjusted net loss		$ (260,796)			$ (191,007)			$ (754,121)	$ (197,955)
Weighted average ordinary shares outstanding, basic and diluted (in shares)	[1]	1,881,942			1,761,302			1,833,297	1,391,404
Basic and diluted net loss per ordinary share	[2]	$ (0.14)			$ (0.11)			$ (0.41)	$ (0.14)
[1]	Excludes an aggregate of up to 3,330,524 and 3,489,597 shares subject to possible redemption at November 30, 2019 and 2018.
[2]	Excludes interest income of $144,673 and $175,450 attributable to shares subject to possible redemption for the three months ended November 30, 2019 and 2018 and $528,812 and $175,450 attributable to shares subject to possible redemption for the nine months ended November 30, 2019 and for the period from March 9, 2018 (inception) through November 30, 2018, respectively (see Note 3).

INITIAL PUBLIC OFFERING (Detail

INITIAL PUBLIC OFFERING (Details) - $ / shares	Aug. 31, 2019	Aug. 31, 2018	Nov. 30, 2019
Sale of Stock, Price Per Share			$ 10
IPO [Member]
Sale of Stock, Number of Shares Issued in Transaction	4,000,000	4,000,000
Sale of Stock, Price Per Share		$ 10	$ 10
IPO [Member] | Warrant [Member]
Class of Warrant or Right, Conversion Description			Each Public Warrant entitles the holder to purchase one-half (1/2) of one ordinary share at an exercise price of $11.50 per full share
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 11.50
IPO [Member] | Rights [Member]
Class of Warrant or Right, Conversion Description			Each Public Right will convert into one-tenth (1/10) of one ordinary share at the closing of a Business Combination

PRIVATE PLACEMENT (Details)

PRIVATE PLACEMENT (Details) - USD ($)	Aug. 31, 2018	Aug. 31, 2018	Nov. 30, 2018	Nov. 30, 2019
Sale of Stock, Price Per Share				$ 10
Proceeds from Issuance of Private Placement		$ 2,700,000	$ 2,700,000
Private Placement [Member]
Sale of Stock, Number of Shares Issued in Transaction	270,000
Sale of Stock, Price Per Share	$ 10	$ 10
Proceeds from Issuance of Private Placement	$ 2,700,000
Private Placement [Member] | Sponsor [Member]
Sale of Stock, Number of Shares Issued in Transaction	250,000
Private Placement [Member] | Underwriter [Member]
Sale of Stock, Number of Shares Issued in Transaction	20,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	Nov. 19, 2019USD ($)$ / shares	Aug. 20, 2019USD ($)$ / shares	May 31, 2018USD ($)	Jun. 30, 2018USD ($)shares	Nov. 30, 2019USD ($)$ / sharesshares	Aug. 31, 2018shares	Nov. 30, 2019USD ($)item$ / sharesshares	Nov. 30, 2018USD ($)	Sep. 13, 2019USD ($)	Feb. 28, 2019USD ($)shares	Oct. 15, 2018shares
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues | shares						4,000,000
Proceeds from Issuance of Common Stock								$ 25,000
Proceeds from Related Party Debt							$ 1,100,000	202,415
Accounts Payable and Accrued Liabilities, Current					$ 110,240		$ 110,240			$ 48,887
Extension period to consummate a business combination							3 months
Outstanding balance under the promissory note					1,100,000		$ 1,100,000
Total period to complete business combination							21 months
Trust account deposit needed to extend time for business combination					400,000		$ 400,000
Trust account deposit needed to extend time for business combination (in dollars per share) | $ / shares							$ 0.10
Unsecured convertible promissory note
Related Party Transaction [Line Items]
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 0.10	$ 0.10
Debt instrument, principal amount	$ 400,000	$ 400,000							$ 800,000
Extension period to consummate a business combination	3 months	3 months
Conversion price | $ / shares	$ 0.10	$ 0.10
Outstanding balance under the promissory note					800,000		$ 800,000
Trust account deposit needed to extend time for business combination		$ 400,000
Sponsor [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt			$ 202,415
Number of times the period of time to consummate the business combination can be extended | item							3
Extension period to consummate a business combination							3 months
Outstanding balance under the promissory note					300,000		$ 300,000
Total period to complete business combination							21 months
Trust account deposit needed to extend time for business combination					400,000		$ 400,000
Trust account deposit needed to extend time for business combination (in dollars per share) | $ / shares							$ 0.10
Sponsor [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Trust account deposit needed to extend time for business combination					1,200,000		$ 1,200,000
Trust account deposit needed to extend time for business combination (in dollars per share) | $ / shares							$ 0.30
Affiliate Of A Member Of Sponsor [Member]
Related Party Transaction [Line Items]
Contractual Obligation Per Month								$ 10,000
Related Party Costs					30,000		$ 90,000
Accounts Payable and Accrued Liabilities, Current					20,000		20,000
Sponsors Affiliate Of The Sponsor Officers And Directors [Member]
Related Party Transaction [Line Items]
Debt Conversion Original Debt to be Converted Amount					$ 1,500,000		$ 1,500,000
Debt Instrument, Convertible, Conversion Price | $ / shares					$ 10		$ 10
Conversion price | $ / shares					$ 10		$ 10
Founder Shares [Member] | Sponsor [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues | shares				1,150,000
Proceeds from Issuance of Common Stock				$ 25,000
Percentage of Issued and Outstanding Shares to be Held by Sponsor After Initial Public Offering				20.00%
Number of Shares Subject To Forfeiture | shares				150,000
Number Of Founder Shares Forfeited | shares											150,000
Shares, Outstanding | shares					1,000,000		1,000,000			1,000,000
Minimum length before shares can be transferred, assigned or sold							1 year
Minimum share price before shares can be transferred, assigned or sold | $ / shares							$ 12
Number of trading days within a 30-trading day period							20 days
Founder share trading day period used to asses stock price							30 days
Minimum number of days used to assess the stock price in determining if shares can be transferred, assigned or sold							150 days

COMMITMENTS (Details)

COMMITMENTS (Details) - USD ($)	Aug. 28, 2018	Nov. 30, 2019	Feb. 28, 2019	Aug. 31, 2018
COMMITMENTS
Underwriter registration rights maximum period		5 years
Underwriter registration piggyback rights maximum period		7 years
Deferred Underwriting Fee Percentage		2.50%
Deferred Underwriting Fee Payable		$ 1,000,000	$ 1,000,000	$ 1,000,000
Maximum Amount Of Proceeds Payable To Other Advisors		$ 400,000
Percentage Allocated To Other Deal Expenses	1.00%

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details)	Aug. 31, 2018USD ($)$ / sharesshares	Nov. 30, 2019itemVote$ / sharesshares	Feb. 28, 2019$ / sharesshares	Nov. 30, 2018shares
Number of classes of preferred stock | item		5
Preferred Stock, Shares Issued | shares		0	0
Preferred Stock, Shares Outstanding | shares		0	0
Common Stock, No Par Value | $ / shares		$ 0	$ 0
Number of votes per share of ordinary stock | Vote		1
Common Stock, Shares, Issued | shares		1,939,476	1,939,476
Common Stock, Shares, Outstanding | shares		1,798,946	1,798,946
Temporary Equity, Shares Issued | shares		3,330,524	3,471,054	3,489,597
Warrant Redemption Price Per Warrant | $ / shares		$ 0.0010
Underwriter registration rights maximum period		5 years
Underwriter registration piggyback rights maximum period		7 years
Unit Purchase Option [Member]
Offering Costs | $	$ 100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	240,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares	$ 11.50
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Aggregate Exercise Price | $	$ 2,760,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	35.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.74%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $	$ 728,000
Share Price | $ / shares	$ 3.03
Underwriter registration rights maximum period	5 years
Underwriter registration piggyback rights maximum period	7 years
Public Warrants [Member]
Minimum period before warrants are effective		90 days
Warrant redemption price | $ / shares		$ 0.01
Minimum notice period for warrant redemption		30 days
Minimum stock price to trigger warrant redemption | $ / shares		$ 18
Trading day period used to measure stock price to trigger redemption of warrants		20 days
Warrant redemptions trading day period		30 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term		5 years

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Nov. 30, 2019	Feb. 28, 2019
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets:
Marketable securities held in Trust Account	$ 41,860,503	$ 40,425,370

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Unsecured convertible promissory note - USD ($)	Nov. 19, 2019	Sep. 13, 2019	Aug. 20, 2019
Debt Instrument, Face Amount	$ 400,000	$ 800,000	$ 400,000
Debt Instrument, Convertible, Conversion Price	$ 0.10		$ 0.10