Yunhong International (ZGYH) 10-K 27 Oct 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Oct. 27, 2021	Dec. 31, 2020
Document Information [Line Items]
Entity Registrant Name	Yunhong International
Entity Central Index Key	0001773086
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-39226
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	4 – 19/F
Entity Address, Address Line Two	126 Zhong Bei
Entity Address, Address Line Three	Wuchang District
Entity Address, City or Town	Wuhan
Entity Address, Country	CN
Entity Address, Postal Zip Code	430061
City Area Code	86
Local Phone Number	131 4555 5555
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--06-30
Entity Well Known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Voluntary Filers	No
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Public Float			$ 72,036,000
Entity Shell Company	true
Class A Ordinary Share, one-half of one Warrant and one Right
Document Information [Line Items]
Trading Symbol	ZGYHU
Title of 12(b) Security	Units, each consisting of one Class A Ordinary Share,one-half of one Warrant and one Right
Security Exchange Name	NASDAQ
Class A ordinary shares
Document Information [Line Items]
Trading Symbol	ZGYH
Title of 12(b) Security	Class A Ordinary Shares, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		7,219,500
Class B ordinary shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,725,000
Warrants
Document Information [Line Items]
Trading Symbol	ZGYHW
Title of 12(b) Security	Warrants, each exercisable for one Class A OrdinaryShare for $11.50 per share
Security Exchange Name	NASDAQ
Rights
Document Information [Line Items]
Trading Symbol	ZGYHR
Title of 12(b) Security	Rights, each exchangeable into one-tenth of one Class AOrdinary Share
Security Exchange Name	NASDAQ

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Current Assets
Cash	$ 256	$ 819,755
Prepaid expenses and other receivable	29,100	23,750
Total Current Assets	29,356	843,505
Investments held in Trust Account	70,409,613	69,057,508
Total Assets	70,438,969	69,901,013
Current Liabilities
Accounts payable and accrued expenses	482,213	80,000
Advances from related party	182,796	232,796
Promissory note - related party	1,380,000	210,659
Total Current Liabilities	2,045,009	523,455
Warrant liabilities	1,966,388	895,065
Deferred underwriting fees	2,415,000	2,415,000
Total Liabilities	6,426,397	3,833,520
Class A ordinary shares subject to possible redemption, 6,900,000 shares at June 30, 2021 and 2020	70,380,000	69,000,000
Shareholders' Deficit
Preference shares, $0.001 par value; 1,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital		565,000
Accumulated deficit	(6,369,473)	(3,499,552)
Total Shareholders' Deficit	(6,367,428)	(2,932,507)
Total Liabilities and Shareholders' Deficit	70,438,969	69,901,013
Class A ordinary shares
Shareholders' Deficit
Ordinary shares value		320
Class B ordinary shares
Shareholders' Deficit
Ordinary shares value	1,725	1,725
Class A non-redeemable ordinary shares
Shareholders' Deficit
Ordinary shares value	$ 320	$ 320

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
Temporary equity, shares subject to possible redemption	6,900,000	6,900,000
Preference shares, par value	$ 0.001	$ 0.001
Preference shares, shares authorized	1,000,000	1,000,000
Preference shares, shares issued	0	0
Preference shares, shares outstanding	0	0
Class A ordinary shares
Temporary equity, shares subject to possible redemption	6,900,000	6,900,000
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	47,000,000	47,000,000
Ordinary shares, shares subject to possible redemption	6,900,000	6,900,000
Class B ordinary shares
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	2,000,000	2,000,000
Ordinary shares, shares issued	1,725,000	1,725,000
Ordinary shares, shares outstanding	1,725,000	1,725,000
Class A non-redeemable ordinary shares
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	47,000,000	47,000,000
Ordinary shares, shares issued	319,500	319,500
Ordinary shares, shares outstanding	319,500	319,500

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
General and administrative expenses	$ 1,004,334	$ 309,004
Loss from operations	(1,004,334)	(309,004)
Other (expense) income:
Change in fair value of warrant liabilities	(1,071,323)	786,555
Transaction costs allocated to warrant liabilities		(89,670)
Interest income	56	42
Interest income earned on marketable securities held in the Trust Account	20,680	220,239
Realized loss on marketable securities held in the Trust Account	0	(708,023)
Total other (expense) income, net	(1,050,587)	209,143
Net loss	$ (2,054,921)	$ (99,861)
Class A ordinary shares
Other (expense) income:
Weighted average shares outstanding, basic	7,219,500	2,615,429
Weighted average shares outstanding, diluted	7,219,500	5,168,816
Basic net loss per ordinary share	$ (0.23)	$ (0.02)
Diluted net loss per ordinary share	$ (0.23)	$ (0.01)
Class B ordinary shares
Other (expense) income:
Weighted average shares outstanding, basic	1,725,000	1,578,288
Weighted average shares outstanding, diluted	1,725,000	1,725,000
Basic net loss per ordinary share	$ (0.23)	$ (0.02)
Diluted net loss per ordinary share	$ (0.23)	$ (0.01)
Class A ordinary shares, redeemable and nonredeemable
Other (expense) income:
Weighted average shares outstanding, basic		2,615,429
Weighted average shares outstanding, diluted	7,219,500	5,168,816

STATEMENT OF CHANGES IN SHAREHO

STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT - USD ($)	Class A ordinary sharesOrdinary Shares	Class B ordinary sharesOrdinary Shares	Additional Paid-in Capital	Accumulated Deficit	Total
Beginning balance at Jun. 30, 2019		$ 1,725	$ 23,275	$ (5,081)	$ 19,919
Beginning balance (in shares) at Jun. 30, 2019	0	1,725,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of 250,500 Private Units	$ 251	$ 0	2,444,629	0	2,444,880
Sale of 250,500 Private Units (in shares)	250,500	0
Issuance of Representative Shares	$ 69	$ 0	(69)	0	0
Issuance of Representative Shares (in shares)	69,000	0
Sale of Unit Purchase Option	$ 0	$ 0	100	0	100
Accretion for Class A Ordinary Shares to redemption amount	0	0	2,467,935	3,394,610	5,862,545
Capital contribution to Trust Account to fund shortfall	0	0	565,000	0	565,000
Net loss	0	0	0	(99,861)	(99,861)
Ending balance at Jun. 30, 2020	$ 320	$ 1,725	565,000	(3,499,552)	(2,932,507)
Ending balance (in shares) at Jun. 30, 2020	319,500	1,725,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion for Class A Ordinary Shares to redemption amount	$ 0	$ 0	565,000	815,000	1,380,000
Net loss	0	0	0	(2,054,921)	(2,054,921)
Ending balance at Jun. 30, 2021	$ 320	$ 1,725	$ 0	$ (6,369,473)	$ (6,367,428)
Ending balance (in shares) at Jun. 30, 2021	319,500	1,725,000

STATEMENT OF CHANGES IN SHARE_2

STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT (Parenthetical)	12 Months Ended
	Jun. 30, 2020shares
STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT
Number of units sold in private placement	250,500

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash Flows from Operating Activities:
Net loss	$ (2,054,921)	$ (99,861)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest earned on investments held in Trust Account	(20,680)	(220,239)
Realized loss on securities held in Trust Account	0	708,023
Fees charged to Trust Account	48,575	19,708
Change in fair value of warrant liabilities	1,071,323	(786,555)
Transaction costs allocated to warrant liabilities		89,670
Changes in operating assets and liabilities:
Prepaid expenses and other receivable	(5,350)	(23,750)
Accounts payable and accrued expenses	402,213	79,292
Net cash used in operating activities	(558,840)	(233,712)
Cash Flows from Investing Activities:
Investment of cash in Trust Account	(1,380,000)	(69,000,000)
Net cash used in investing activities	(1,380,000)	(69,000,000)
Cash Flows from Financing Activities:
Proceeds from sale of Units, net of underwriting discount paid	0	67,620,000
Proceeds from sale of Private Units	0	2,505,000
Proceeds from sale of unit purchase option	0	100
Advances from related party	0	232,796
Proceeds from promissory note - related party	1,380,000	10,000
Payment of offering costs		(314,448)
Repayment of advance from related party	(50,000)
Repayment of promissory note - related party	(210,659)
Net cash provided by financing activities	1,119,341	70,053,448
Net Change in Cash	(819,499)	819,736
Cash - Beginning of year	819,755	19
Cash - Ending of year	256	819,755
Non-cash investing and financing activities:
Initial classification of ordinary shares subject to possible redemption (including underwriter's exercise of over-allotment)	0	69,000,000
Deferred underwriting fee payable	0	2,415,000
Payment of offering costs through promissory note - related party		109,509
Capital contribution to Trust Account	0	565,000
Accretion of Class A ordinary shares to redemption value	1,380,000
Issuance of Representative Shares	$ 0	$ 69

DESCRIPTION OF ORGANIZATION AND

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	12 Months Ended
	Jun. 30, 2021
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS Yunhong International (the “Company”) is a blank check company incorporated in the Cayman Islands on January 10, 2019. 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 Asia (excluding China). The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. At June 30, 2021, the Company had not yet commenced any operations. All activity through June 30, 2021 relates to the Company’s formation, the initial public offering (the “Initial Public Offering”) (as discussed below) and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company generates non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The registration statements for the Company’s Initial Public Offering were declared effective on February 12, 2020. On February 18, 2020, the Company consummated the Initial Public Offering of 6,000,000 units (“Units” and, with respect to the Class A ordinary shares included in the Units sold, the “Public Shares”) at $10.00 per Unit, generating gross proceeds of $60,000,000, which is described in Note 3. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 232,500 units (the “Private Units”) at a price of $10.00 per Private Unit in a private placement to the Company’s sponsor, LF International Pte. Ltd. (the “Sponsor”), generating gross proceeds of $2,325,000, which is described in Note 5. Following the closing of the Initial Public Offering on February 18, 2020, an amount of $60,000,000 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”), until the earlier of: (i) the completion of a Business Combination or (ii) the distribution of the funds in the Trust Account to the Company’s shareholders, as described below. The Trust Account is controlled by the terms of the Investment Management Trust Agreement, dated February 12, 2020, by and between the Company and American Stock Transfer & Trust Company LLC, as the trustee (the “Trust Agreement”) (see Note 11 for additional information). On February 24, 2020, in connection with the underwriters’ election to fully exercise their over-allotment option, the Company consummated the sale of an additional 900,000 Units at $10.00 per Unit and the sale of an additional 18,000 Private Units at $10.00 per Private Unit, generating total gross proceeds of $9,180,000. Following the closing, an additional $9,000,000 was deposited into the Trust Account, bringing the aggregate proceeds held in the Trust Account to $69,000,000. Transaction costs amounted to $4,330,715, consisting of $1,380,000 of underwriting fees, $2,415,000 of deferred underwriting fees and $535,715 of other offering costs. 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 taxes payable on interest earned and less any interest earned thereon that is released for taxes) 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 of 1940 (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, as amended, 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 Public Shares for a pro rata portion of the amount then in the Trust Account ($10.00 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 Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter. 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, as amended, offer such redemption pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents with the SEC prior to completing a Business Combination. The Sponsor has agreed (a) to vote its Class B ordinary shares, the Class A 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, as amended, 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 shares (including the Class B ordinary 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 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, as amended, relating to shareholders’ rights of pre-Business Combination activity and (d) that the Class B ordinary 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 initially had until February 18, 2021 to consummate a Business Combination. However, if the Company anticipates that it may not be able to consummate a Business Combination by February 18, 2021, 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 up to 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 affiliates or designees must deposit into the Trust Account $690,000 ($0.10 per share), on or prior to the applicable deadline for each three month extension (or up to an aggregate of $2,070,000, or $0.30 per share, if the Company extends for the full nine months). On February 10, 2021, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on May 18, 2021, and, accordingly, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. On May 13, 2021, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on August 18, 2021, and, accordingly, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. On August 15, 2021, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on November 18, 2021, and, accordingly, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. 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 (except for the Company’s independent registered accounting firm), 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. The period of time for the Company to consummate a Business Combination was extended for three (3) additional three-month periods on February 10, 2021, May 13, 2021, and August 15, 2021. The August 15, 2021 additional three month extension is for the three month period ending on November 18, 2021. On February 10, 2021, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. On May 13, 2021, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. On August 15, 2021, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. Going Concern In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s (“FASB”) Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the mandatory liquidation and subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after November 18, 2021. The Company’s management has determined that it is in the best interests of the Company to seek an extension of the amount of time that the Company has to complete a business combination and have the Company’s shareholders approve the amendment of the Company’s amended and restated Memorandum and Articles of Association to allow for additional time to consummate a business combination. The Company plans to hold a meeting on or before November 18, 2021 to amend, by way of special resolution, the Company’s amended and restated Memorandum and Articles of Association to extend the time by which the Company has to consummate a business combination.

REVISION OF PREVIOUSLY ISSUED F

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	12 Months Ended
	Jun. 30, 2021
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	NOTE 2. REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS In connection with the preparation of the Company’s financial statements as of June 30, 2021, management identified revisions necessary in its historical financial statements where, at the closing of the Company’s Initial Public Offering, the Company improperly valued its Class A ordinary shares subject to possible redemption. The Company previously determined the Class A ordinary shares subject to possible redemption to be equal to the redemption value of $10.00 per share Class A ordinary share while also taking into consideration a redemption cannot result in net tangible assets being less than $5,000,001. Management determined that the Class A ordinary shares issued during the Initial Public Offering can be redeemed or become redeemable subject to the occurrence of future events considered outside the Company’s control. Therefore, management concluded that the redemption value should include all Class A ordinary shares subject to possible redemption, resulting in the Class A ordinary shares subject to possible redemption being equal to their redemption value. In connection with the change in presentation for the Class A ordinary shares subject to redemption, the Company also revised its earnings per share calculation to allocate net income (loss) evenly to Class A and Class B ordinary shares. This presentation contemplates a business combination as the most likely outcome, in which case, both classes of shares would share evenly in the income (loss) of the Company. The impact of the revision on the Company’s financial statements is reflected in the following table. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously ​ ​ ​ ​ ​ Reported Adjustment As Revised Balance Sheet as of June 30, 2020 (audited) ​ ​ ​ Class A ordinary shares subject to possible redemption ​ $ 61,067,490 ​ $ 7,932,510 ​ $ 69,000,000 Class A ordinary shares ​ $ 1,113 ​ $ (793) ​ $ 320 Additional paid-in capital ​ $ 5,102,107 ​ $ (5,102,107) ​ $ — Retained earnings ​ $ (104,942) ​ $ (2,829,610) ​ $ (2,934,552) Total Shareholders’ Equity (Deficit) ​ $ 5,000,003 ​ $ (7,932,510) ​ $ (2,932,507) Statement of Cash Flows for the Year Ended June 30, 2020 (audited) ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-cash Initial classification of Class A ordinary shares subject to possible redemption ​ $ 60,512,460 ​ $ 8,487,540 ​ $ 69,000,000 Non-cash Change in value of Class A ordinary shares subject to possible redemption ​ $ 555,030 ​ $ (555,030) ​ $ — ​

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. 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 confirming events. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and 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 June 30, 2021 and 2020. Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC 480. Class A 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 Class A 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, at June 30, 2021 and June 30, 2020, Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering and upon additional deposits into the trust account, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable Class A ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. At June 30, 2021 and June 30, 2020, the Class A ordinary shares reflected in the balance sheets are reconciled in the following table; ​ ​ ​ ​ ​ Gross proceeds $ 69,000,000 Less: ​ Proceeds allocated to Public Warrants ​ ​ (1,621,500) Class A ordinary shares issuance costs ​ ​ (4,241,045) Add: ​ ​ Accretion of carrying value to redemption value ​ ​ 5,862,545 Class A ordinary shares subject to possible redemption at June 30, 2020 ​ ​ 69,000,000 Accretion of carrying value to redemption value ​ ​ 1,380,000 Class A ordinary shares subject to possible redemption at June 30, 2021 ​ $ 70,380,000 ​ Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities were expensed as incurred in the statements of operations. Offering costs associated with the Class A ordinary shares issued were charged to temporary equity upon the completion of the Initial Public Offering. Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The Company accounts for the Public Warrants and Private Placement Warrants (together, the “Warrants”) in accordance with the guidance contained in ASC 815-40 under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjust the Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of operations. The Private Placement Warrants and the Public Warrants for periods where no observable traded price was available are valued using a Monte Carlo simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value as of each relevant date. Income Taxes 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 Cayman Islands is the Company’s only 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 as of June 30, 2021 and 2020 and no amounts accrued for interest and penalties. 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 is considered an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision is zero for the periods presented. The Company does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Net Income (Loss) Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per ordinary share is computed by dividing net income (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. Accretion associated with the redeemable shares of Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value. ​ The Company has not considered the effect of (1) warrants sold in the Initial Public Offering and the private placement to purchase 3,575,250 Class A ordinary shares, (2) rights sold in the Initial Public Offering and the private placement that convert into 715,050 Class A ordinary shares and (3) 345,000 Class A ordinary shares, warrants to purchase 172,500 Class A ordinary shares and rights that convert into 34,500 Class A ordinary shares in the unit purchase option sold to the underwriters, in the calculation of diluted loss per share, since the exercise of the warrants, the conversion of the rights into Class A ordinary shares and the exercise of the unit purchase option are contingent upon the occurrence of future events and inclusion of such warrants would be anti-dilutive under the treasury stock method. The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year End ​ Year End ​ ​ June 30, 2021 ​ June 30, 2020 ​ Class A Class B Class A Class B Basic and diluted net loss per ordinary share ​ ​ ​ ​ Numerator: ​ ​ ​ ​ Allocation of net loss, as adjusted ​ $ (1,658,617) ​ $ (396,304) ​ $ (62,279) ​ $ (37,582) Denominator: ​ ​ ​ ​ Basic and diluted weighted average shares outstanding ​ 7,219,500 ​ 1,725,000 ​ 2,615,429 ​ 1,578,288 Basic and diluted net loss per ordinary share ​ $ (0.23) ​ $ (0.23) ​ $ (0.02) ​ $ (0.02) ​ Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a foreign cash account in a financial institution. The Company has 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 Measurement,” approximate the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature, except for the Warrants (see Note 11). Recently Issued Accounting Standards In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

INITIAL PUBLIC OFFERING

INITIAL PUBLIC OFFERING	12 Months Ended
	Jun. 30, 2021
INITIAL PUBLIC OFFERING
INITIAL PUBLIC OFFERING	NOTE 4. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 6,900,000 Units at a purchase price of $10.00 per Unit, which includes the exercise by the underwriters of their over-allotment option in full of 900,000 Units at $10.00 per Unit. Each Unit consists of one Class A ordinary share, one-half one-tenth

PRIVATE PLACEMENT

PRIVATE PLACEMENT	12 Months Ended
	Jun. 30, 2021
PRIVATE PLACEMENT
PRIVATE PLACEMENT	NOTE 5. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 232,500 Private Units at a price of $10.00 per Private Unit, or $2,325,000 in the aggregate. On February 24, 2020, in connection with the underwriters’ exercise of the over-allotment option in full, the Sponsor purchased an additional 18,000 Private Units for an aggregate purchase price of $180,000. Each Private Unit consists of one Private Share, one one Combination. 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 underlying securities) and Private Rights will expire worthless.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 6. RELATED PARTY TRANSACTIONS Founder Shares In January 2019, the Company issued one Class B ordinary share to the Sponsor for no consideration. On May 23, 2019, the Company cancelled the one share and issued to the Sponsor 1,437,500 Class B ordinary shares (the “Founder Shares”) for an aggregate purchase price of $25,000, or approximately $0.017 per share. In February 2020, the Company effected a 1.2 for 1 stock dividend for each Founder Share outstanding, resulting in the Sponsor holding an aggregate of 1,725,000 Founder Shares, of which up to 225,000 shares were subject to forfeiture to the extent that the underwriters’ over-allotment option was not exercised in full or in part, so that the Sponsor would own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. As a result of the underwriters’ election to fully exercise their over-allotment option, 225,000 Founder Shares are no longer subject to forfeiture. The initial shareholders agreed, subject to limited exceptions, not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (A) six months after the completion of the initial Business Combination or (B) subsequent to the initial Business Combination, (x) if the last sale price of the Class A ordinary shares equal or exceed $12.00 per share (as adjusted for share splits, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 Advances from Related Party During the years ended June 30, 2021 and 2020, the Sponsor advanced the Company funds to cover certain working capital expenses. The advances are non-interest bearing and payable upon demand. Advances totaling $182,796 and $232,796 were outstanding as of June 30, 2021 and 2020, respectively. Promissory Note — Related Party On May 23, 2019, the Company issued an unsecured promissory note to the Sponsor, as amended and restated on January 17, 2020 (the “Promissory Note”). Pursuant to the Promissory Note, the Company may borrow up to an aggregate principal amount of $300,000 to cover expenses related to the Initial Public Offering (the “Promissory Note”). The Promissory Note was non-interest bearing and payable on the earlier of June 30, 2020 or the completion of the Initial Public Offering. As of June 30, 2020, there was $210,659 outstanding under the Promissory Note. The outstanding balance under the Promissory Note of $210,659 was repaid in July 2020. Borrowings under the Promissory Note are no longer available and nothing is outstanding at June 30, 2021. Administrative Services Agreement The Company entered into an agreement, commencing on February 18, 2020 through the earlier of the consummation of a Business Combination or the Company’s liquidation, to pay the Sponsor a monthly fee of $10,000 for office space, administrative and support services. On April 15, 2020, the Company entered into an assignment agreement with the Sponsor and an affiliate of the Sponsor, pursuant to which all of the Sponsor’s rights and obligations under the agreement were assigned to the affiliate of the Sponsor. For the years ended June 30, 2021 and 2020, the Company incurred $120,000 and $50,000 in fees for these services, respectively. As at June 30, 2021, $50,000 is included in accounts payable and accrued expenses in the accompanying balance sheets. There were no amounts accrued as of June 30, 2020. Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“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 such Working Capital Loans may be converted upon consummation of a Business Combination into additional 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. The units would be identical to the Private Units. As of June 30, 2021 and 2020, no Working Capital Loans were outstanding. Related Party Extension Loans As discussed in Note 1, the Company may extend the period of time to consummate a Business Combination three times by an additional three months each time (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 designee must deposit into the Trust Account for each three-month extension $690,000 ($0.10 per share), on or prior to the date of the applicable deadline. Any such payments would be made in the form of a loan and will be non-interest bearing and payable on or before November 18, 2021. 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. Up to $1,500,000 of such loans may be convertible into units at a price of $10.00 per unit at the option of the lender. If the Company does not complete a Business Combination, the Company will not repay such loans. 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 February 10, 2021, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on May 18, 2021, and, accordingly, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. On May 13, 2021, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on August 18, 2021, and, accordingly, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender. On August 15, 2021, the period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on November 18, 2021, and, accordingly, $690,000 was deposited into the Trust Account. The deposit was funded by a non-interest bearing unsecured convertible promissory note from GCN. The note is repayable on or before November 18, 2021 (subject to the waiver against trust limitations) and may be converted into shares of the Company or its successor entity at a price of $10.00 per share at the option of the lender.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jun. 30, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 7. COMMITMENTS AND CONTINGENCIES Risks and Uncertainties Management continues to evaluate the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Registration Rights Pursuant to a registration rights agreement entered into on February 12, 2020, the holders of the Founder Shares, the Private Units, securities underlying the unit purchase option issued to the underwriters and units that may be issued upon conversion of Working Capital Loans (and in each case holders of their component securities, as applicable), are entitled to registration rights requiring the Company to register such securities for resale (in the case of the Founder Shares, only after conversion to Class A ordinary shares). The holders 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 completion of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Under the Registration Rights Agreement, the Company agrees to indemnify the Sellers and certain persons or entities related to the Sellers such as their officers, directors, employees, agents and representatives (the “Seller Indemnified Parties”) against any losses or damages resulting from any untrue statement or omission of a material fact in any registration statement or prospectus pursuant to which they sell Registrable Securities, unless such liability arose from their misstatement or omission in any registration statement or prospectus and the Sellers agree to indemnify the Company and certain persons or entities related to the Company such as its officers and directors and underwriters against all losses caused by their misstatements or omissions in those documents. Underwriting Agreement The underwriters are entitled to a deferred fee of 3.5% of the gross proceeds of the Initial Public Offering, or $2,415,000. The deferred fee will be paid in cash upon the closing of a Business Combination from the amounts held in the Trust Account, subject to the terms of the underwriting agreement. Right of First Refusal For a period beginning on the closing of Initial Public Offering and ending 12 months from the closing of a Business Combination, the Company has granted the underwriters a right of first refusal to act as lead-left book running manager and lead left manager for any and all future private or public equity, convertible and debt offerings during such period. In accordance with FINRA Rule 5110(f)(2)(E)(i), such right of first refusal shall not have a duration of more than three years from the effective date of the registration statements for the Initial Public Offering. Share Exchange Agreement On May 14, 2021, the Company entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with GCN, each of GCN's shareholders named therein (collectively, the “Sellers”), LF International Pte. Ltd., a Republic of Singapore company, in the capacity as the representative from and after the closing of the Transactions (as defined below) (the “Closing”) for the Company's shareholders other than the Sellers (the “Purchaser Representative”), and Yang Lan, in the capacity as the representative for the Sellers thereunder (the “Seller Representative”). Pursuant to the Share Exchange Agreement, among other things and subject to the terms and conditions contained therein, the Company will effect an acquisition of GCN, by acquiring from the Sellers all of the issued and outstanding equity interests of GCN (together with the other transactions contemplated by the Share Exchange Agreement, the “Transactions”). Pursuant to the Share Exchange Agreement, in exchange for all of the outstanding shares of GCN, the Company will issue to the Sellers a number of the Company ordinary shares (the “Exchange Shares”) equal in value to $7,354,615,385, with the Company ordinary shares valued at $10.00 per share, with fifteen percent (15)% of such Exchange Shares (“Escrow Shares”) being deposited into a segregated escrow at the Closing (along with dividends and other earnings otherwise payable with respect to such Escrow Shares). The Escrow Shares and other escrow property shall serve as a source of security for the Sellers' indemnification obligations and any purchase price adjustments. The Exchange Shares, including the Escrow Shares, will be allocated among the Sellers pro-rata based on each Seller's ownership of GCN immediately prior to the Closing. Certain Sellers will have their portion of the Exchange Shares subject to a lock-up as set forth in the Lock-Up Agreements as described below under the heading “Lock-Up Agreement.” The Escrow Shares will be held in an escrow account to be maintained by American Stock Transfer & Trust Company, LLC, in its capacity as the escrow agent, or such other escrow agent as agreed by the Company and GCN prior to the Closing (the “Escrow Agent”). While the Escrow Shares are held in escrow, the Sellers will be entitled to vote their portion of the Escrow Shares. Simultaneously with the Closing of the Share Exchange Agreement, the Company, the Purchaser Representative and the Sellers will also enter into a Registration Rights Agreement (the “Registration Rights Agreement”). Under the Registration Rights Agreement, the Sellers hold registration rights that obligate the Company to register for resale under the Securities Act of 1933, as amended (the “Securities Act”), all or any portion of the Exchange Shares (the “Registrable Securities”) so long as such shares are not then restricted under the Lock-Up Agreement. Sellers holding a majority-in-interest of all Registrable Securities then issued and outstanding are entitled under the Registration Rights Agreement to make a written demand for registration under the Securities Act of all or part of their Registrable Securities, so long as such shares are not then restricted under the Lock-Up Agreement (including shares held in escrow under the Escrow Agreement). Subject to certain exceptions, if at any time after the Closing of the Transactions, the Company proposes to file a registration statement under the Securities Act with respect to its securities, under the Registration Rights Agreement, The Company shall give notice to the Sellers as to the proposed filing and offer the Sellers holding Registrable Securities an opportunity to register the sale of such number of Registrable Securities as requested by the Sellers in writing. In addition, subject to certain exceptions, Sellers holding Registrable Securities are entitled under the Registration Rights Agreement to request in writing that the Company register the resale of any or all of such Registrable Securities on Form S-3 or F-3 and any similar short-form registration that may be available at such time. On September 8, 2021, the Company received a written notice (the “Termination Notice”) from GCN terminating the Share Exchange Agreement, effective as of the date of the Termination Notice, because the Business Combination was not consummated by July 30, 2021, the outside date pursuant to the Share Exchange Agreement.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Jun. 30, 2021
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 8. SHAREHOLDERS’ EQUITY Preference Shares Class A Ordinary Shares Class B Ordinary Shares The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like. In the case that additional Class A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in Initial Public Offering and related to the closing of the Business Combination, the ratio at which Class B ordinary shares shall convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 20% of the sum of all ordinary shares outstanding upon completion of the Initial Public Offering plus all Class A ordinary shares and equity-linked securities issued or deemed issued in connection with the Business Combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the Business Combination or any private placement-equivalent units issued to the Sponsor or its affiliates upon conversion of loans made to the Company). Holders of Founder Shares may also elect to convert their Class B ordinary shares into an equal number of Class A ordinary shares, subject to adjustment as provided above, at any time.

WARRANT LIABILITIES

WARRANT LIABILITIES	12 Months Ended
	Jun. 30, 2021
WARRANT LIABILITIES
WARRANT LIABILITIES	NOTE 9. WARRANT LIABILITIES Warrants The Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration. The Company has agreed that as soon as practicable, but in no event later than 15 business days after the closing of a Business Combination, the Company will use its best efforts to file, and within 60 business days following a Business Combination to have declared effective, a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of the warrant agreement. No warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the Class A ordinary shares issuable upon exercise of the warrants and a current prospectus relating to such Class A ordinary shares. Notwithstanding the foregoing, if a registration statement covering the Class A ordinary shares issuable upon exercise of the warrants is not effective within a specified period following the consummation of a Business Combination, warrant 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 warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be able to exercise their warrants on a cashless basis. The Company may call the warrants for redemption (excluding the Private Warrants but including any outstanding warrants issued upon exercise of the unit purchase option): ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon not less than 30 days ’ prior written notice of redemption (the “30-day redemption period”) to each warrant holder; and ● if, and only if, the reported last sale price of the Class A ordinary shares equal or exceed $16.50 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within a 30 - trading day period ending on the third trading day prior to the date the Company sends to the notice of redemption to the warrant holders. If and when the warrants become redeemable by the Company, the Company may not exercise its redemption right if the issuance of shares upon exercise of the warrants is not exempt from registration or qualification under applicable state blue sky laws or the Company is unable to effect such registration or qualification. If the Company calls the Public Warrants for redemption, management will have the option to require any holder that wishes 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 share dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted for issuance 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 the respect to such warrants. Accordingly, the warrants may expire worthless. In addition, if (x) the Company issues additional Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per share (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which the Company consummates a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $16.50 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly Issued Price. As of June 30, 2021 and 2020, there were 125,250 Private Warrants outstanding. 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 Class A 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. Rights one-tenth 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 Class A ordinary shares will receive in the transaction on an as-converted into Class A ordinary share basis and each holder of a right will be required to affirmatively convert its rights in order to receive 1/10 The Company will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of Cayman Islands law. As a result, the holders of the rights must hold rights in multiples of 10 in order to receive shares for all of the holders’ rights upon closing of a Business Combination. 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. Representative Shares On February 18, 2020, the Company issued to the designees of the underwriters 60,000 Class A ordinary shares (the “Representative Shares”). On February 24, 2020, in connection with the underwriters’ election to exercise the over-allotment option in full, the Company issued an additional 9,000 Representative Shares to the designees of the underwriters. The Company accounted for the Representative Shares as an offering cost of the Initial Public Offering, with a corresponding credit to shareholders’ equity. The Company estimated the fair value of Representative Shares to be $690,000 based upon the price of the Units sold in the Initial Public Offering. The holders of the Representative Shares have agreed not to transfer, assign or sell any such shares until the completion of a Business Combination. In addition, the holders have agreed (i) to waive its redemption rights with respect to such shares in connection with the completion of our initial business combination and (ii) to waive their rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete a Business Combination within the Combination Period. The Representative Shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date of the effectiveness of the registration statement related to the Initial Public Offering pursuant to Rule 5110(g)(1) of FINRA’s NASD Conduct Rules. Pursuant to FINRA Rule 5110(g)(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the effective date of the registration statements related to the Initial Public Offering, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the effective date of the registration statements related to the Initial Public Offering except to any underwriter and selected dealer participating in the Initial Public Offering and their bona fide officers or partners. Unit Purchase Option On February 18, 2020, the Company sold to the underwriters (and its designees), for $100, an option to purchase up to 300,000 Units exercisable at $12.25 per Unit (or an aggregate exercise price of $4,226,250) commencing on the later of February 12, 2021 and the closing of a Business Combination. On February 24, 2020, in connection with the underwriters’ election to exercise the over-allotment option in full, the Company issued the underwriters an option to purchase up to an additional 45,000 Units exercisable at $12.25 per Unit for no additional consideration. The unit purchase option may be exercised for cash or on a cashless basis, at the holder’s option, and expires February 12, 2025. 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 is approximately $893,000, or $2.59 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 1.39% and (3) expected life of five years. The option and such units purchased pursuant to the option, as well as the Class A ordinary shares underlying such units, the rights included in such units, the Class A 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 “piggy back” rights for periods of five 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 Class A ordinary shares at a price below its exercise price.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Jun. 30, 2021
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 10. 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. At June 30, 2021, assets held in the Trust Account were comprised of $63,813,687 in money market funds and $6,595,926 in U.S. Treasury Securities. At June 30, 2020, assets held in the Trust Account were comprised of $63,846,914 in mutual and money market funds and $5,210,594 in U.S. Treasury Securities. The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2021 and 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ June 30, Description Level 2021 2020 Assets: ​ ​ ​ ​ Investments – Money Market Funds 1 ​ $ 63,813,687 ​ $ 63,846,914 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Warrant Liabilities - Public Warrants ​ 1 ​ ​ 1,897,500 ​ ​ 862,500 Warrant Liabilities - Private Warrants ​ 3 ​ ​ 68,888 ​ ​ 32,565 ​ The Company classifies its U.S. Treasury and equivalent securities as held-to-maturity in accordance with ASC 320 “Investments - Debt and Equity Securities.” Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity treasury securities are recorded at amortized cost on the accompanying balance sheets and adjusted for the amortization or accretion of premiums or discounts. The gross holding gains and fair value of held-to-maturity securities at June 30, 2021 and 2020, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Holding ​ ​ ​ ​ Held-To-Maturity Level Cost (Loss) Gain Fair Value June 30, 2021 ​ U.S. Treasury Securities (Mature on 7/15/21) ​ 1 ​ $ 6,595,926 ​ $ (26,795) ​ $ 6,569,131 June 30, 2020 U.S. Treasury Securities (Matured on 8/15/2020) ​ 1 ​ $ 5,210,594 ​ $ 1,363 ​ $ 5,211,957 ​ The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the statements of operations. ​ The subsequent measurement of the Public Warrants as of June 30, 2020 is classified as Level 1 due to the use of an observable market quote in an active market. The subsequent measurement of the Private Warrants was calculated using a Monte Carlo Simulation which is considered a Level 3 measurement. Level 3 financial liabilities consist of the Private Warrant liability for which there is no current market for these securities such that the determination of fair value requires significant judgment or estimation. Changes in fair value measurements categorized within Level 3 of the fair value hierarchy are analyzed each period based on changes in estimates or assumptions and recorded as appropriate. The fair value of the Private Warrants was estimated at June 30, 2021 and 2020 to be $0.55 and $0.26, respectively, using the Monte Carlo Simulation approach and the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 June 30, 2020 Risk-free interest rate ​ 0.96 % ​ 0.39 % Expected Term ​ 5.0 ​ 6.0 Dividend yield ​ 0.00 % ​ 0.00 % Expected volatility ​ 8.0 % ​ 6.3 % Exercise price ​ $ 11.50 ​ $ 11.50 ​ Unit Price ​ $ 10.19 ​ $ 9.76 ​ ​ The following table presents the changes in the fair value of Level 3 warrant liabilities: ​ ​ ​ ​ ​ ​ Private Warrants Fair value as of June 30, 2020 ​ $ 32,565 Change in fair value ​ 36,323 Fair value as of June 30, 2021 ​ $ 68,888 ​ Transfers to/from Levels 1, 2and 3 are measured at the end of the reporting period. There were no transfers in or out of Level 3 from other levels in the fair value hierarchy during the year ended June 30, 2021. Due to the use of quoted prices in an active market (Level 1) to measure the fair value of the Public Warrants, subsequent to initial measurement, the Company had transfers out of Level 3 totaling approximately $862,500 during the period from February 18, 2020 through June 30, 2020.

TRUST ACCOUNT

TRUST ACCOUNT	12 Months Ended
	Jun. 30, 2021
TRUST ACCOUNT
TRUST ACCOUNT	NOTE 11. TRUST ACCOUNT During the preparation of the quarterly report for the quarter ended March 31, 2020, the Company determined that American Stock Transfer & Trust Company LLC, as the trustee, and Morgan Stanley, as custodian, had not invested the Trust Account funds in accordance with the Trust Agreement. Thereafter, the Company immediately took steps to liquidate such investments and to reinvest the funds only in the types of securities specified under the Trust Agreement (the date of such reinvestment, May 5, 2020, is referred to herein as the “Reinvestment Date”). As of March 31, 2020, the Company had an unrealized loss on marketable securities held in the Trust Account of $1,151,591 (including principal and interest). Between March 31, 2020 and the Reinvestment Date, the Company recouped part of the losses and on the Reinvestment Date the Company had an unrealized loss on marketable securities held in the Trust Account of $565,000 (the “Shortfall”). The Shortfall represents the difference between the aggregate amount of the funds in the Trust Account as of the Reinvestment Date and the amount that would have been in the Trust Account on the Reinvestment Date had the funds in the Trust Account always been invested pursuant to the requirements set forth in the Trust Agreement. To remedy the issue, and for no additional consideration, on May 14, 2020 the Sponsor funded the Trust Account in the amount of the Shortfall. Since the amount of the Shortfall funded by the Sponsor is not required to be repaid by the Company, the Company recorded this amount as a credit to additional paid in capital during the year ended June 30, 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2021
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12. 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, other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements. On September 8, 2021, the Company received a written notice from GCN terminating the Share Exchange Agreement, effective as of the date of the Termination Notice, because the Business Combination was not consummated by July 30, 2021. The Company plans to hold special meeting of the shareholders to extend the time period it has to complete a Business Combination (the "Extended Date") beyond November 18, 2021. The Company will seek to extend the outstanding promissory notes prior to the liquidation date.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation The accompanying financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.
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 confirming events. One of the more significant accounting estimates included in these financial statements is the determination of the fair value of the warrant liability. Such estimates may be subject to change as more current information becomes available and 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 June 30, 2021 and 2020.
Class A Ordinary Shares Subject to Possible Redemption	Class A Ordinary Shares Subject to Possible Redemption The Company accounts for its Class A ordinary shares subject to possible redemption in accordance with the guidance in ASC 480. Class A 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 Class A 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, at June 30, 2021 and June 30, 2020, Class A ordinary shares subject to possible redemption are presented as temporary equity, outside of the shareholders’ equity section of the Company’s balance sheets. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Immediately upon the closing of the Initial Public Offering and upon additional deposits into the trust account, the Company recognized the accretion from initial book value to redemption amount value. The change in the carrying value of redeemable Class A ordinary shares resulted in charges against additional paid-in capital and accumulated deficit. At June 30, 2021 and June 30, 2020, the Class A ordinary shares reflected in the balance sheets are reconciled in the following table; ​ ​ ​ ​ ​ Gross proceeds $ 69,000,000 Less: ​ Proceeds allocated to Public Warrants ​ ​ (1,621,500) Class A ordinary shares issuance costs ​ ​ (4,241,045) Add: ​ ​ Accretion of carrying value to redemption value ​ ​ 5,862,545 Class A ordinary shares subject to possible redemption at June 30, 2020 ​ ​ 69,000,000 Accretion of carrying value to redemption value ​ ​ 1,380,000 Class A ordinary shares subject to possible redemption at June 30, 2021 ​ $ 70,380,000
Offering Costs	Offering Costs Offering costs consisted of legal, accounting and other expenses incurred through the Initial Public Offering that were directly related to the Initial Public Offering. Offering costs were allocated to the separable financial instruments issued in the Initial Public Offering based on a relative fair value basis, compared to total proceeds received. Offering costs associated with warrant liabilities were expensed as incurred in the statements of operations. Offering costs associated with the Class A ordinary shares issued were charged to temporary equity upon the completion of the Initial Public Offering.
Warrant Liabilities	Warrant Liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and FASB ASC Topic 815, “Derivatives and Hedging” (“ASC 815”). The Company accounts for the Public Warrants and Private Placement Warrants (together, the “Warrants”) in accordance with the guidance contained in ASC 815-40 under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjust the Warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of operations. The Private Placement Warrants and the Public Warrants for periods where no observable traded price was available are valued using a Monte Carlo simulation. For periods subsequent to the detachment of the Public Warrants from the Units, the Public Warrant quoted market price was used as the fair value as of each relevant date.
Income Taxes	Income Taxes 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 Cayman Islands is the Company’s only 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 as of June 30, 2021 and 2020 and no amounts accrued for interest and penalties. 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 is considered an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision is zero for the periods presented. The Company does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.
Net Income (Loss) Per Ordinary Share	Net Income (Loss) Per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per ordinary share is computed by dividing net income (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. Accretion associated with the redeemable shares of Class A ordinary shares is excluded from earnings per share as the redemption value approximates fair value. ​ The Company has not considered the effect of (1) warrants sold in the Initial Public Offering and the private placement to purchase 3,575,250 Class A ordinary shares, (2) rights sold in the Initial Public Offering and the private placement that convert into 715,050 Class A ordinary shares and (3) 345,000 Class A ordinary shares, warrants to purchase 172,500 Class A ordinary shares and rights that convert into 34,500 Class A ordinary shares in the unit purchase option sold to the underwriters, in the calculation of diluted loss per share, since the exercise of the warrants, the conversion of the rights into Class A ordinary shares and the exercise of the unit purchase option are contingent upon the occurrence of future events and inclusion of such warrants would be anti-dilutive under the treasury stock method. The following table reflects the calculation of basic and diluted net income (loss) per ordinary share (in dollars, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year End ​ Year End ​ ​ June 30, 2021 ​ June 30, 2020 ​ Class A Class B Class A Class B Basic and diluted net loss per ordinary share ​ ​ ​ ​ Numerator: ​ ​ ​ ​ Allocation of net loss, as adjusted ​ $ (1,658,617) ​ $ (396,304) ​ $ (62,279) ​ $ (37,582) Denominator: ​ ​ ​ ​ Basic and diluted weighted average shares outstanding ​ 7,219,500 ​ 1,725,000 ​ 2,615,429 ​ 1,578,288 Basic and diluted net loss per ordinary share ​ $ (0.23) ​ $ (0.23) ​ $ (0.02) ​ $ (0.02)
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a foreign cash account in a financial institution. The Company has 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 Measurement,” approximate the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature, except for the Warrants (see Note 11).
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective January 1, 2022 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is currently assessing the impact, if any, that ASU 2020-06 would have on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

RESTATEMENT OF PREVIOUSLY ISSUE

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Jun. 30, 2021
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
Summary of restatement of previously issued financial statements	The impact of the revision on the Company’s financial statements is reflected in the following table. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As Previously ​ ​ ​ ​ ​ Reported Adjustment As Revised Balance Sheet as of June 30, 2020 (audited) ​ ​ ​ Class A ordinary shares subject to possible redemption ​ $ 61,067,490 ​ $ 7,932,510 ​ $ 69,000,000 Class A ordinary shares ​ $ 1,113 ​ $ (793) ​ $ 320 Additional paid-in capital ​ $ 5,102,107 ​ $ (5,102,107) ​ $ — Retained earnings ​ $ (104,942) ​ $ (2,829,610) ​ $ (2,934,552) Total Shareholders’ Equity (Deficit) ​ $ 5,000,003 ​ $ (7,932,510) ​ $ (2,932,507) Statement of Cash Flows for the Year Ended June 30, 2020 (audited) ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-cash Initial classification of Class A ordinary shares subject to possible redemption ​ $ 60,512,460 ​ $ 8,487,540 ​ $ 69,000,000 Non-cash Change in value of Class A ordinary shares subject to possible redemption ​ $ 555,030 ​ $ (555,030) ​ $ —

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jun. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Class A ordinary shares reflected in the balance sheets	​ ​ ​ ​ ​ Gross proceeds $ 69,000,000 Less: ​ Proceeds allocated to Public Warrants ​ ​ (1,621,500) Class A ordinary shares issuance costs ​ ​ (4,241,045) Add: ​ ​ Accretion of carrying value to redemption value ​ ​ 5,862,545 Class A ordinary shares subject to possible redemption at June 30, 2020 ​ ​ 69,000,000 Accretion of carrying value to redemption value ​ ​ 1,380,000 Class A ordinary shares subject to possible redemption at June 30, 2021 ​ $ 70,380,000
Summary of information about basic and diluted net income (loss) per ordinary share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year End ​ Year End ​ ​ June 30, 2021 ​ June 30, 2020 ​ Class A Class B Class A Class B Basic and diluted net loss per ordinary share ​ ​ ​ ​ Numerator: ​ ​ ​ ​ Allocation of net loss, as adjusted ​ $ (1,658,617) ​ $ (396,304) ​ $ (62,279) ​ $ (37,582) Denominator: ​ ​ ​ ​ Basic and diluted weighted average shares outstanding ​ 7,219,500 ​ 1,725,000 ​ 2,615,429 ​ 1,578,288 Basic and diluted net loss per ordinary share ​ $ (0.23) ​ $ (0.23) ​ $ (0.02) ​ $ (0.02)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Jun. 30, 2021
FAIR VALUE MEASUREMENTS
Summary of information about the Company's assets and liabilities that are measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ June 30, Description Level 2021 2020 Assets: ​ ​ ​ ​ Investments – Money Market Funds 1 ​ $ 63,813,687 ​ $ 63,846,914 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Warrant Liabilities - Public Warrants ​ 1 ​ ​ 1,897,500 ​ ​ 862,500 Warrant Liabilities - Private Warrants ​ 3 ​ ​ 68,888 ​ ​ 32,565
Summary of gross holding losses and fair value of held-to-maturity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Holding ​ ​ ​ ​ Held-To-Maturity Level Cost (Loss) Gain Fair Value June 30, 2021 ​ U.S. Treasury Securities (Mature on 7/15/21) ​ 1 ​ $ 6,595,926 ​ $ (26,795) ​ $ 6,569,131 June 30, 2020 U.S. Treasury Securities (Matured on 8/15/2020) ​ 1 ​ $ 5,210,594 ​ $ 1,363 ​ $ 5,211,957
Schedule of key inputs into the Monte Carlo simulation model for Warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 June 30, 2020 Risk-free interest rate ​ 0.96 % ​ 0.39 % Expected Term ​ 5.0 ​ 6.0 Dividend yield ​ 0.00 % ​ 0.00 % Expected volatility ​ 8.0 % ​ 6.3 % Exercise price ​ $ 11.50 ​ $ 11.50 ​ Unit Price ​ $ 10.19 ​ $ 9.76 ​
Schedule of the changes in the fair value of warrant liabilities	​ ​ ​ ​ ​ ​ Private Warrants Fair value as of June 30, 2020 ​ $ 32,565 Change in fair value ​ 36,323 Fair value as of June 30, 2021 ​ $ 68,888

DESCRIPTION OF ORGANIZATION A_2

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details) - USD ($)	Feb. 24, 2020	Feb. 18, 2020	Jun. 30, 2021	Aug. 15, 2021	May 13, 2021	Feb. 10, 2021
Number of units issued		6,900,000
Share Price			$ 9.20	$ 10	$ 10	$ 10
Gross proceeds from issue of units	$ 9,180,000		$ 7,354,615,385
Amount deposited into trust account	9,000,000	$ 60,000,000
Aggregate proceeds held in the Trust Account	$ 69,000,000
Underwriting fees			1,380,000
Deferred underwriting fees			2,415,000
Other offering costs			535,715
Minimum amount required for business acquisition			$ 5,000,001
Share price considered for redemption			$ 10
Deposit in the trust account for business combination for three months extension			$ 690,000	$ 690,000	$ 690,000	$ 690,000
Per share amount of deposit in the trust account for three months extension			$ 0.10
Amount of deposit for nine months extension			$ 2,070,000
Per share amount of deposit for nine months extension			$ 0.30
Percentage of redemption of outstanding public shares if business combination not completed			100.00%
Dissolution expenses			$ 50,000
Minimum per share amount for sponsor not liable			$ 10
IPO
Number of units issued		6,000,000
Share Price		$ 10	$ 10
Gross proceeds from issue of units		$ 60,000,000
Transaction costs			$ 4,330,715
Private Placement
Number of units issued	18,000	232,500
Share Price	$ 10	$ 10
Gross proceeds from issue of units		$ 2,325,000
Over-allotment option
Number of units issued	900,000	900,000
Share Price	$ 10

RESTATEMENT OF PREVIOUSLY ISS_2

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Balance Sheet as of June 30, 2020 (audited)
Class A Ordinary Shares Subject to Possible Redemption	$ 70,380,000	$ 69,000,000
Additional paid-in capital		565,000
Retained earnings		(2,934,552)
Total Shareholders' Deficit	$ (6,367,428)	(2,932,507)	$ 19,919
Class A ordinary shares
Balance Sheet as of June 30, 2020 (audited)
Class A ordinary shares		320
As Previously Reported
Balance Sheet as of June 30, 2020 (audited)
Class A Ordinary Shares Subject to Possible Redemption		61,067,490
Additional paid-in capital		5,102,107
Retained earnings		(104,942)
Total Shareholders' Deficit		5,000,003
As Previously Reported | Class A ordinary shares
Balance Sheet as of June 30, 2020 (audited)
Class A ordinary shares		1,113
Adjustments
Balance Sheet as of June 30, 2020 (audited)
Class A Ordinary Shares Subject to Possible Redemption		7,932,510
Additional paid-in capital		(5,102,107)
Retained earnings		(2,829,610)
Total Shareholders' Deficit		(7,932,510)
Adjustments | Class A ordinary shares
Balance Sheet as of June 30, 2020 (audited)
Class A ordinary shares		$ (793)

RESTATEMENT OF PREVIOUSLY ISS_3

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - Cashflow (Details)	12 Months Ended
	Jun. 30, 2020USD ($)
Statement of Cash Flows for the Year Ended June 30, 2020 (audited)
Non-cash Initial classification of Class A ordinary shares subject to possible redemption	$ 69,000,000
As Previously Reported
Statement of Cash Flows for the Year Ended June 30, 2020 (audited)
Non-cash Initial classification of Class A ordinary shares subject to possible redemption	60,512,460
Non-cash Change in value of Class A ordinary shares subject to possible redemption	555,030
Adjustments
Statement of Cash Flows for the Year Ended June 30, 2020 (audited)
Non-cash Initial classification of Class A ordinary shares subject to possible redemption	8,487,540
Non-cash Change in value of Class A ordinary shares subject to possible redemption	$ (555,030)

RESTATEMENT OF PREVIOUSLY ISS_4

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Details)	12 Months Ended
	Jun. 30, 2021USD ($)$ / shares
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS
Minimum amount required for business acquisition | $	$ 5,000,001
Share price considered for redemption | $ / shares	$ 10

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Unrecognized Tax Benefits	$ 0	$ 0
Amounts accrued for interest and penalties	$ 0	$ 0
Class A ordinary shares | Unit Purchase Option
Net loss per ordinary share
Shares not considered for calculation of net loss per share	345,000
Warrants | Class A ordinary shares | Initial Public Offering and the private placement
Net loss per ordinary share
Shares not considered for calculation of net loss per share	3,575,250
Warrants | Class A ordinary shares | Unit Purchase Option
Net loss per ordinary share
Shares not considered for calculation of net loss per share	172,500
Rights | Class A ordinary shares | Initial Public Offering and the private placement
Net loss per ordinary share
Shares not considered for calculation of net loss per share	715,050
Rights | Class A ordinary shares | Unit Purchase Option
Net loss per ordinary share
Shares not considered for calculation of net loss per share	34,500

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Class A ordinary shares reflected in balance sheets (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Gross proceeds		$ 69,000,000
Proceeds allocated to Public Warrants		(1,621,500)
Class A ordinary shares issuance costs		(4,241,045)
Accretion of carrying value to redemption value	$ 1,380,000	5,862,545
Class A ordinary shares subject to possible redemption	$ 70,380,000	$ 69,000,000

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - EPS (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Class A ordinary shares
Denominator:
Weighted average shares outstanding, basic	7,219,500	2,615,429
Weighted average shares outstanding, diluted	7,219,500	5,168,816
Basic net loss per ordinary share	$ (0.23)	$ (0.02)
Diluted net loss per ordinary share	$ (0.23)	$ (0.01)
Common class A subject to redemption
Numerator:
Allocation of net loss, as adjusted	$ (1,658,617)
Class A non-redeemable ordinary shares
Numerator:
Allocation of net loss, as adjusted		$ (62,279)
Class B ordinary shares
Numerator:
Allocation of net loss, as adjusted	$ (396,304)	$ (37,582)
Denominator:
Weighted average shares outstanding, basic	1,725,000	1,578,288
Weighted average shares outstanding, diluted	1,725,000	1,725,000
Basic net loss per ordinary share	$ (0.23)	$ (0.02)
Diluted net loss per ordinary share	$ (0.23)	$ (0.01)

INITIAL PUBLIC OFFERING (Detail

INITIAL PUBLIC OFFERING (Details) - $ / shares	Feb. 24, 2020	Feb. 18, 2020
INITIAL PUBLIC OFFERING
Number of units issued		6,900,000
IPO
INITIAL PUBLIC OFFERING
Number of units issued		6,000,000
Unit price		$ 10
Number of redeemable warrants per each unit		0.5
Number of public right for each unit		1
IPO | Class A ordinary shares
INITIAL PUBLIC OFFERING
Number of shares per each unit		1
Number of shares per each public warrant		1
Exercise price of shares per each public warrant		$ 11.50
Number of shares per each public right		0.1
Over-allotment option
INITIAL PUBLIC OFFERING
Number of units issued	900,000	900,000
Unit price		$ 10

PRIVATE PLACEMENT (Details)

PRIVATE PLACEMENT (Details) - USD ($)	Feb. 24, 2020	Feb. 18, 2020	Jun. 30, 2021	Aug. 15, 2021	May 13, 2021	Feb. 10, 2021
PRIVATE PLACEMENT
Number of units issued		6,900,000
Share Price			$ 9.20	$ 10	$ 10	$ 10
Gross proceeds from issue of units	$ 9,180,000		$ 7,354,615,385
Private Placement
PRIVATE PLACEMENT
Number of units issued	18,000	232,500
Share Price	$ 10	$ 10
Gross proceeds from issue of units		$ 2,325,000
Number of shares per each unit		1
Number of redeemable warrants per each unit		0.5
Number of private right for each unit		1
Private Placement | Sponsor
PRIVATE PLACEMENT
Number of units issued	18,000	232,500
Share Price		$ 10
Gross proceeds from issue of units	$ 180,000	$ 2,325,000
Private Placement | Class A ordinary shares
PRIVATE PLACEMENT
Number of shares per each public warrant		1
Exercise price of shares per each public warrant		$ 11.50
Number of shares per each public right		0.1

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Feb. 24, 2020	Feb. 18, 2020	May 23, 2019	Feb. 29, 2020	Jun. 30, 2021	Jun. 30, 2021
Related Party Transaction [Line Items]
Number of units issued		6,900,000
Gross proceeds from issue of units	$ 9,180,000					$ 7,354,615,385
Number of shares held by sponsor				1,725,000
Percentage of issued and outstanding shares after the Initial Public Offering held by the sponsor				20.00%
Threshold period for not to transfer, assign or sell any of their shares or warrants after the completion of the initial business combination					30 days	30 days
Threshold trading days for transfer, assign or sale of shares or warrants, after the completion of the initial business combination						20 days
Threshold period after the business combination in which the 20 trading days within any 30 trading day period commences						150 days
Class A ordinary shares
Related Party Transaction [Line Items]
Stock price trigger to transfer, assign or sell any shares or warrants of the company, after the completion of the initial business combination (in dollars per share)						$ 12
Class B ordinary shares
Related Party Transaction [Line Items]
Number of shares held by sponsor subject to forfeiture				225,000
Over-allotment option
Related Party Transaction [Line Items]
Number of units issued	900,000	900,000
Over-allotment option | Class B ordinary shares
Related Party Transaction [Line Items]
Number of units issued				225,000
Sponsor | Class B ordinary shares
Related Party Transaction [Line Items]
Number of units issued			1,437,500
Gross proceeds from issue of units			$ 25,000
Number of shares issued to sponsor cancelled			1
Capital Contribution by Sponsor Per Share			$ 0.017
Stock dividend				1.2

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Advances from Related Party (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
RELATED PARTY TRANSACTIONS
Advances from related party	$ 182,796	$ 232,796

RELATED PARTY TRANSACTIONS - Pr

RELATED PARTY TRANSACTIONS - Promissory Note (Details) - USD ($)	Feb. 18, 2020	Jan. 17, 2020	Jul. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Sponsor Loans
Related Party Transaction [Line Items]
Amounts of transaction		$ 300,000
Repayment of related party loan			$ 210,659
Promissory Note, outstanding balance				$ 0	$ 210,659
Administrative Services Agreement
Related Party Transaction [Line Items]
Office space, administrative and support services expenses per month	$ 10,000			120,000	50,000
Accrued Office space, administrative and support services expenses per month					$ 0
Administrative Services Agreement | Accounts Payable and Accrued Liabilities
Related Party Transaction [Line Items]
Accrued expenses				$ 50,000

RELATED PARTY TRANSACTIONS - Re

RELATED PARTY TRANSACTIONS - Related Party Extension Loans (Details)	12 Months Ended
	Jun. 30, 2021USD ($)item$ / shares	Aug. 15, 2021USD ($)$ / shares	May 13, 2021USD ($)$ / shares	Feb. 10, 2021USD ($)$ / shares	Jun. 30, 2020USD ($)
Related Party Transaction [Line Items]
Outstanding working capital loans | $	$ 0				$ 0
Number of times to extend the period of time to consummate a Business Combination | item	3
Total period to complete a Business Combination	21 months
Extension period of time to consummate a Business Combination	3 months
Deposit in the trust account for business combination for three months extension | $	$ 690,000	$ 690,000	$ 690,000	$ 690,000
Per share amount of deposit in the trust account for three months extension | $ / shares	$ 0.10
Share Price | $ / shares	$ 9.20	$ 10	$ 10	$ 10
Related Party Loans
Related Party Transaction [Line Items]
Loans convertible into warrants | $	$ 1,500,000
Price of warrants (in dollars per share) | $ / shares	$ 10
Related Party Extension Loans
Related Party Transaction [Line Items]
Loans convertible into warrants | $	$ 1,500,000
Price of warrants (in dollars per share) | $ / shares	$ 10
Deposit in the trust account for business combination for three months | $		$ 690,000	$ 690,000	$ 690,000
Share Price | $ / shares			$ 10	$ 10

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Feb. 24, 2020	Jun. 30, 2021	Aug. 15, 2021	May 13, 2021	Feb. 10, 2021	Jun. 30, 2020
Deferred Fee as a percent of gross offering proceeds		3.50%
Deferred underwriting fees		$ 2,415,000				$ 2,415,000
Term for right of first refusal		12 months
Percentage of shares to be held in escrow		15.00%
Share Price		$ 9.20	$ 10	$ 10	$ 10
Gross proceeds from issue of units	$ 9,180,000	$ 7,354,615,385
Share Exchange Agreement
Share Price		$ 10

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
SHAREHOLDERS' EQUITY
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, par value	$ 0.001	$ 0.001
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0

SHAREHOLDERS' EQUITY - Ordinary

SHAREHOLDERS' EQUITY - Ordinary Shares (Details)	12 Months Ended
	Jun. 30, 2021Vote$ / sharesshares	Jun. 30, 2020Vote$ / sharesshares
Class of Stock [Line Items]
Number of Class A common stock issued upon conversion of each share (in shares)	1
Number of common stock issuable pursuant to Initial Business Combination, as a percent of outstanding shares	20.00%
Temporary Equity, Shares Subject to Possible Redemption	6,900,000	6,900,000
Class A ordinary shares
Class of Stock [Line Items]
Common shares, shares authorized	47,000,000	47,000,000
Common shares, par value | $ / shares	$ 0.001	$ 0.001
Common shares, votes per share | Vote	1	1
Common shares, shares issued	7,219,500	7,219,500
Common shares, shares outstanding	7,219,500	7,219,500
Common shares, shares subject to possible redemption (in shares)	6,900,000	6,900,000
Temporary Equity, Shares Subject to Possible Redemption	6,900,000	6,900,000
Class B ordinary shares
Class of Stock [Line Items]
Common shares, shares authorized	2,000,000	2,000,000
Common shares, par value | $ / shares	$ 0.001	$ 0.001
Common shares, shares issued	1,725,000	1,725,000
Common shares, shares outstanding	1,725,000	1,725,000

WARRANT LIABILITIES (Details)

WARRANT LIABILITIES (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Aug. 15, 2021	May 13, 2021	Feb. 10, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Warrants exercisable term from the closing of the public offering		12 months
Warrants expiration term	5 years	5 years
Threshold period for filling registration statement after business combination		15 days
Threshold period for filling registration statement within number of days of business combination		60 days
Warrants exercisable for cash	0	0
Redemption price per warrant	$ 0.01	$ 0.01
Minimum threshold written notice period for redemption of public warrants		30 days
Stock price trigger for redemption of public warrants (in dollars per share)	16.50	$ 16.50
Closing price of share for threshold trading days		20 days
Closing price of share for threshold consecutive trading days		30 days
Price per share	$ 9.20	$ 9.20	$ 10	$ 10	$ 10
Percentage of gross proceeds on total equity proceeds		60.00%
Adjustment of exercise price of warrants based on market value (as a percent)	115.00%	115.00%
Adjustment of redemption price of stock based on market value (as a percent)	180.00%	180.00%
Threshold period for not to transfer, assign or sell any of their shares or warrants after the completion of the initial business combination	30 days	30 days
Class of warrant or rights outstanding	715,050	715,050				715,050
Private placement warrants
Class of Stock [Line Items]
Class of warrant or rights outstanding	125,250	125,250				125,250
Public warrants
Class of Stock [Line Items]
Class of warrant or rights outstanding	3,450,000	3,450,000				3,450,000

WARRANT LIABILITIES - Rights (D

WARRANT LIABILITIES - Rights (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Class of warrant or rights outstanding	715,050	715,050
Contractual penalties for failure to deliver securities to the holders of the rights upon consummation of a Business Combination	$ 0
Class A ordinary shares
Class of Stock [Line Items]
Right to be received per common stock	0.1

WARRANT LIABILITIES - Represent

WARRANT LIABILITIES - Representative Shares (Details) - USD ($)	Feb. 24, 2020	Feb. 18, 2020
Class of Stock [Line Items]
Number of units issued		6,900,000
Over-allotment option
Class of Stock [Line Items]
Number of units issued	900,000	900,000
Representative Shares
Class of Stock [Line Items]
Number of units issued		60,000
Fair value of shares issued		$ 690,000
Representative Shares | Over-allotment option
Class of Stock [Line Items]
Number of units issued	9,000

WARRANT LIABILITIES - Unit Purc

WARRANT LIABILITIES - Unit Purchase Option (Details)	Feb. 24, 2020$ / sharesshares	Feb. 18, 2020USD ($)$ / sharesshares
Class of Stock [Line Items]
Unit price		$ 100
Maximum number of units authorized to issue | shares		300,000
Exercise price per unit	$ 12.25	$ 12.25
Aggregate exercise price value | $		$ 4,226,250
Number of units issued during period | shares	45,000
Fair value of the unit purchase option | $		$ 893,000
Threshold period for not to transfer, assign or sell any of their shares or warrants after the completion of the initial business combination		1 year
Holders demand period		5 years
Holders piggy back period		7 years
Unit Price
Class of Stock [Line Items]
Measurement period		2.59
Expected volatility
Class of Stock [Line Items]
Measurement period		35
Risk-free interest rate
Class of Stock [Line Items]
Measurement period		1.39
Expected life
Class of Stock [Line Items]
Measurement period		5

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in the Trust Account	$ 63,813,687	$ 63,846,914
U.S. Treasury Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in the Trust Account	$ 6,595,926	$ 5,210,594

FAIR VALUE MEASUREMENTS - Inves

FAIR VALUE MEASUREMENTS - Investments and Warrant Liabilities (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 1,966,388	$ 895,065
Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	63,813,687	63,846,914
Public warrants | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	1,897,500	862,500
Private placement warrants | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 68,888	$ 32,565

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair value of held-to-maturity (Details) - U.S. Treasury Securities - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 6,595,926	$ 5,210,594
Gross Holding (Loss)	(26,795)
Gross Holding Gains		1,363
Fair Value	$ 6,569,131	$ 5,211,957

FAIR VALUE MEASUREMENTS - Key i

FAIR VALUE MEASUREMENTS - Key input (Details)	12 Months Ended
	Jun. 30, 2021$ / shares	Jun. 30, 2020$ / shares
FAIR VALUE MEASUREMENTS
Fair value of the Private Warrants (in dollars per share)	$ 0.55	$ 0.26
Level 3 | Risk-free interest rate | Private placement warrants
FAIR VALUE MEASUREMENTS
Measurement input of warrants	0.96	0.39
Level 3 | Expected Term | Private placement warrants
FAIR VALUE MEASUREMENTS
Measurement input of warrants	5	6
Level 3 | Dividend yield | Private placement warrants
FAIR VALUE MEASUREMENTS
Measurement input of warrants	0	0
Level 3 | Expected volatility | Private placement warrants
FAIR VALUE MEASUREMENTS
Measurement input of warrants	8	6.3
Level 3 | Exercise price | Private placement warrants
FAIR VALUE MEASUREMENTS
Measurement input of warrants	11.50	11.50
Level 3 | Unit Price | Private placement warrants
FAIR VALUE MEASUREMENTS
Measurement input of warrants	10.19	9.76

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in the fair value of warrant liabilities (Details) - USD ($)	4 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Transfers in or out of Level 3		$ 0
Private placement warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value as of June 30, 2020		32,565
Change in fair value		36,323
Fair value as of June 30, 2021	$ 32,565	$ 68,888
Level 3 | Public warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Transfer to Level 1	$ 862,500

TRUST ACCOUNT (Details)

TRUST ACCOUNT (Details) - USD ($)	May 05, 2020	Mar. 31, 2020
TRUST ACCOUNT
Unrealized loss on securities held in Trust Account	$ 565,000	$ 1,151,591