XML 51 R21.htm IDEA: XBRL DOCUMENT

Restatement of Previously Issued Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

Restatement Of Previously Issued Financial Statements [Abstract]

Schedule of restatement of previously issued balance sheet

		As Previously Reported				Restatement				As Restated
Balance sheet as of November 22, 2019 (audited)
Warrant Liabilities		$	—			$	6,880,000			$	6,880,000
Class A Common Stock Subject to Possible Redemption			93,078,400				(6,880,000	)			86,198,400
Class A Common Stock			69				69				138
Additional Paid-in Capital			5,001,471				238,354				5,239,825
Accumulated Deficit			(1,823	)			(238,423	)			(240,246	)
Total Stockholders’ Equity			5,000,005				—				5,000,005

Numbers of Class A common stock subject to redemption			9,307,840				(688,000	)			8,619,840

		As Previously Reported				Restatement				As Restated
Balance sheet as of December 31, 2019 (audited)
Warrant Liabilities		$	—			$	7,240,000			$	7,240,000
Class A Common Stock Subject to Possible Redemption			93,082,270				(7,240,000	)			85,842,270
Class A Common Stock			69				72				141
Additional Paid-in Capital			4,997,601				598,351				5,595,952
(Accumulated Deficit) Retained Earnings			2,043				(598,423	)			(596,380	)
Total Stockholders’ Equity			5,000,001				—				5,000,001

Numbers of Class A common stock subject to redemption			9,308,227				(724,000	)			8,584,227

Balance sheet as of March 31, 2020 (unaudited)
Warrant Liabilities		$	—			$	5,850,000			$	5,850,000
Class A Common Stock Subject to Possible Redemption			93,121,120				(5,850,000	)			87,271,120
Class A Common Stock			69				59				128
Additional Paid-in Capital			4,958,789				(791,636	)			4,167,154
Retained Earnings			40,902				791,577				832,479
Total Stockholders’ Equity			5,000,010				—				5,000,010

Numbers of Class A common stock subject to redemption			9,312,112				(585,000	)			8,727,112

Balance sheet as of June 30, 2020 (unaudited)
Warrant Liabilities		$	—			$	9,000,000			$	9,000,000
Class A Common Stock Subject to Possible Redemption			92,839,070				(9,000,000	)			83,839,070
Class A Common Stock			72				90				162
Additional Paid-in Capital			5,240,836				2,358,333				7,599,169
Accumulated Deficit			(241,157	)			(2,358,423	)			(2,599,580	)
Total Stockholders’ Equity			5,000,001				—				5,000,001

Numbers of Class A common stock subject to redemption			9,283,907				(900,000	)			8,383,907

Balance sheet as of September 30, 2020 (unaudited)
Warrant Liabilities		$	—			$	10,660,000			$	10,660,000
Class A Common Stock Subject to Possible Redemption			92,637,870				(10,660,000	)			81,977,870
Class A Common Stock			74				107				181
Additional Paid-in Capital			5,442,034				4,018,316				9,460,350
Accumulated Deficit			(442,348	)			(4,018,423	)			(4,460,771	)
Total Stockholders’ Equity			5,000,010				—				5,000,010

Numbers of Class A common stock subject to redemption			9,263,787				(1,066,000	)			8,197,787

Balance sheet as of December 31, 2020 (audited)
Warrant Liabilities		$	—			$	13,130,000			$	13,130,000
Class A Common Stock Subject to Possible Redemption			92,491,560				(13,130,000	)			79,361,560
Class A Common Stock			75				131				206
Additional Paid-in Capital			5,588,343				6,488,292				12,076,635
Accumulated Deficit			(588,658	)			(6,488,423	)			(7,077,081	)
Total Stockholders’ Equity			5,000,010				—				5,000,010

Numbers of Class A common stock subject to redemption			9,249,156				(1,313,000	)			7,936,156

Schedule of restatement of previously issued statement of operations

		As Previously Reported				Restatement				As Restated
Statement of Operations for the period from August 19, 2019 (inception) to December 31, 2019 (audited)
Change in fair value of warrant liability		$	—			$	(360,000	)		$	(360,000	)
Transaction costs allocated to warrant liability			—				(238,423	)			(238,423	)
Net income (loss)			2,043				(598,423	)			(596,380	)
Weighted average shares outstanding of Class A redeemable common stock			10,000,000				—				10,000,000
Basic and diluted net loss per share, Class A			0.01				—				0.01
Weighted average shares outstanding of Class B non-redeemable common stock			2,500,000				—				2,500,000
Basic and diluted net loss per share, Class B			(0.02	)			(0.24	)			(0.26	)

Statement of Operations for the Three Months Ended March 31, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	1,390,000			$	1,390,000
Net income			38,859				1,390,000				1,428,859
Weighted average shares outstanding of Class A redeemable common stock			10,000,000				—				10,000,000
Basic and diluted net loss per share, Class A			0.02				0.00				0.02
Weighted average shares outstanding of Class B non-redeemable common stock			2,500,000				—				2,500,000
Basic and diluted net loss per share, Class B			(0.07	)			0.56				0.49

Statement of Operations for the Three Months Ended June 30, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	(3,150,000	)		$	(3,150,000	)
Net loss			(282,059	)			(3,150,000	)			(3,432,059	)
Weighted average shares outstanding of Class A redeemable common stock			10,000,000				—				10,000,000
Basic and diluted net loss per share, Class A			0.00				—				0.00
Weighted average shares outstanding of Class B non-redeemable common stock			2,500,000				—				2,500,000
Basic and diluted net loss per share, Class B			(0.11	)			(1.26	)			(1.37	)

Statement of Operations for the Six Months Ended June 30, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	(1,760,000	)		$	(1,760,000	)
Net loss			(243,200	)			(1,760,000	)			(2,003,200	)
Weighted average shares outstanding of Class A redeemable common stock			10,000,000				—				10,000,000
Basic and diluted net loss per share, Class A			0.02				—				0.02
Weighted average shares outstanding of Class B non-redeemable common stock			2,500,000				—				2,500,000
Basic and diluted net loss per share, Class B			(0.18	)			(1.26	)			(1.44	)

		As Previously Reported				Restatement				As Restated
Statement of Operations for the Three Months Ended September 30, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	(1,660,000	)		$	(1,660,000	)
Net loss			(201,191	)			(1,660,000	)			(1,861,191	)
Weighted average shares outstanding of Class A redeemable common stock			10,000,000				—				10,000,000
Basic and diluted net loss per share, Class A			0.00				—				0.00
Weighted average shares outstanding of Class B non-redeemable common stock			2,500,000				—				2,500,000
Basic and diluted net loss per share, Class B			(0.08	)			(0.66	)			(0.74	)

Statement of Operations for the Nine Months Ended September 30, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	(3,420,000	)		$	(3,420,000	)
Net loss			(444,391	)			(3,420,000	)			(3,864,391	)
Weighted average shares outstanding of Class A redeemable common stock			10,000,000				—				10,000,000
Basic and diluted net loss per share, Class A			0.02				—				0.02
Weighted average shares outstanding of Class B non-redeemable common stock			2,500,000				—				2,500,000
Basic and diluted net loss per share, Class B			(0.25	)			(0.66	)			(0.91	)

Statement of Operations for the Year Ended December 31, 2020 (audited)
Change in fair value of warrant liability		$	—			$	(5,890,000	)		$	(5,890,000	)
Net loss			(590,701	)			(5,890,000	)			(6,480,701	)
Weighted average shares outstanding of Class A redeemable common stock			10,000,000				—				10,000,000
Basic and diluted net loss per share, Class A			0.01				—				0.01
Weighted average shares outstanding of Class B non-redeemable common stock			2,500,000				—				2,500,000
Basic and diluted net loss per share, Class B			(0.29	)			(2.36	)			(2.65	)

Statement of Cash Flows for the period from August 19, 2019 (inception) to December 31, 2019 (audited)
Change in fair value of warrant liability		$	—			$	360,000			$	360,000
Transaction costs allocated to warrant liability			—				238,423				238,423
Net income (loss)			2,043				(598,423	)			(596,380	)
Initial classification of Class A common stock subject to possible redemption			93,078,400				(6,880,000	)			86,198,400
Change in value of Class A common stock subject to possible redemption			3,870				(360,000	)			(356,130	)

Schedule of restatement of previously issued statement of cash flows

		As Previously Reported				Restatement				As Restated
Statement of Cash Flows for the Three Months Ended March 31, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	(1,390,000	)		$	(1,390,000	)
Net income			38,859				1,390,000				1,428,859
Change in value of Class A common stock subject to possible redemption			38,850				1,390,000				1,428,850

Statement of Cash Flows for the Six Months Ended June 30, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	1,760,000			$	1,760,000
Net loss			(243,200	)			(1,760,000	)			(2,003,200	)
Change in value of Class A common stock subject to possible redemption			(243,200	)			(1,760,000	)			(2,003,200	)

Statement of Cash Flows for the Nine Months Ended September 30, 2020 (unaudited)
Change in fair value of warrant liability		$	—			$	(3,420,000	)		$	(3,420,000	)
Net loss			(444,391	)			(3,420,000	)			(3,864,391	)
Change in value of Class A common stock subject to possible redemption			(444,400	)			(3,420,000	)			(3,864,400	)

Statement of Cash Flows for the Year Ended December 31, 2020 (audited)
Change in fair value of warrant liability		$	—			$	(5,890,000	)		$	(5,890,000	)
Net loss			(590,701	)			(5,890,000	)			(6,480,701	)
Change in value of Class A common stock subject to possible redemption			(590,710	)			(5,890,000	)			(6,480,710	)