Financial Performance - For the three months ended June 30, 2020, the company reported a net income of $67, consisting of $107 in interest income on marketable securities, offset by operating costs of $40 [96]. - For the six months ended June 30, 2020, the company incurred a net loss of $57, with operating costs of $164 and interest income of $107 [96]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on June 26, 2020, raising gross proceeds of $40 million from 4,000,000 Units sold at $10.00 per Unit [99]. - Following the IPO and the exercise of the over-allotment option, a total of $46 million was placed in the Trust Account, with transaction costs amounting to $2,069,154 [101]. Cash and Securities - As of June 30, 2020, the company had cash and marketable securities of $46,000,107 in the Trust Account, intended for completing a Business Combination [104]. - The company had cash of $860,654 outside the Trust Account, primarily for identifying and evaluating target businesses [105]. - The company does not have any long-term debt or off-balance sheet financing arrangements as of June 30, 2020 [108]. Acquisition Plans - The company expects to incur significant costs in pursuing its acquisition plans, with no assurance of successful completion of a Business Combination [94]. - The company has engaged EarlyBirdCapital as an advisor for a Business Combination, agreeing to pay a cash fee of $1,610,000 upon consummation [110]. Operations - The company has not engaged in any operations or generated any revenues to date, with only organizational activities and search for a target business since inception [95].