10-Q Filing

Greenland Technologies Holding Corp. CIK: 1735041 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-010761`
Period End Date	20180831
Filing Date	20181011
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	glacu-20180831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 23 Income Statement 18 Cash Flow Statement 28

Balance Sheet 23 line items

Line Item	Tag	Value	Unit	Period
Ordinary shares, possible redemption value	`TemporaryEquityParOrStatedValue`	3.90M	shares	Point-in-time
Preferred shares, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred shares, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$911.94K	USD	Point-in-time
Preferred shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$114.09K	USD	Point-in-time
Ordinary shares, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.03M	USD	Point-in-time
Ordinary shares, issued	`CommonStockSharesIssued`	1.88M	shares	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$44.07M	USD	Point-in-time
Total Assets	`Assets`	$45.10M	USD	Point-in-time
Ordinary shares, outstanding	`CommonStockSharesOutstanding`	1.88M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$46.13K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$46.13K	USD	Point-in-time
Deferred underwriting fees	`DeferredUnderwritingFees1`	$978.56K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.02M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Ordinary shares subject to possible redemption, 3,899,442 shares at redemption value	`TemporaryEquityCarryingAmountAttributableToParent`	$39.07M	USD	Point-in-time
Preferred shares, no par value; unlimited shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Ordinary shares, no par value; unlimited shares authorized; 1,882,558 shares issued and outstanding (excluding 3,899,442 shares subject to possible redemption)	`CommonStockValue`	$5.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.00K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.10M	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingCostsAndExpenses`	$91.06K	USD	3 Qtrs
Number of shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares`	3.90M	shares	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	$82.70K	USD	1 Quarter
Number of shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares`	3.90M	shares	3 Qtrs
Loss from operation	`OperatingIncomeLoss`	$-91.06K	USD	3 Qtrs
Loss from operation	`OperatingIncomeLoss`	$-82.70K	USD	1 Quarter
Number of shares subject to forfeiture	`StockRepurchasedAndRetiredDuringPeriodShares`	62,979.00	shares	3 Qtrs
Number of shares subject to forfeiture	`StockRepurchasedAndRetiredDuringPeriodShares`	62,979.00	shares	1 Quarter
Interest income	`InterestIncomeOther`	$13.85K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$13.85K	USD	3 Qtrs
Unrealized gain on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$57.21K	USD	3 Qtrs
Unrealized gain on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$57.21K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-11.63K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-20.00K	USD	3 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.33M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.17M	shares	3 Qtrs
Basic and diluted net loss per ordinary share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	3 Qtrs
Basic and diluted net loss per ordinary share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.63K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-20.00K	USD	3 Qtrs
Interest earned on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$57.21K	USD	3 Qtrs
Interest earned on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$57.21K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`InterestIncomeOther`	$13.85K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`InterestIncomeOther`	$13.85K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$114.09K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$46.13K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-159.02K	USD	3 Qtrs
Investment of cash in Trust Account	`PaymentsToInvestInDecommissioningFund`	$44.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.00M	USD	3 Qtrs
Proceeds from issuance of founder shares to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	3 Qtrs
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromRepurchaseOfRedeemablePreferredStock`	$42.68M	USD	3 Qtrs
Proceeds from sale of Private Units	`ProceedsFromSaleOfInterestInCorporateUnit`	$2.82M	USD	3 Qtrs
Proceeds from issuance of unit purchase option	`ProceedsFromIssuanceOfSecuredTaxExemptDebt`	$100.00	USD	3 Qtrs
Payment of offering costs	`PaymentOfOfferingCosts`	$454.13K	USD	3 Qtrs
Proceeds from promissory note - related party	`ProceedsFromRelatedPartyDebt`	$227.67K	USD	3 Qtrs
Repayment of promissory note - related party	`RepaymentsOfRelatedPartyDebt`	$227.67K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.07M	USD	3 Qtrs
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$911.94K	USD	3 Qtrs
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$911.94K	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$911.94K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Initial classification of ordinary shares subject to redemption	`InitialClassificationOfOrdinarySharesSubjectToRedemption`	$39.08M	USD	3 Qtrs
Initial classification of deferred underwriting fee payable	`InitialClassificationOfDeferredUnderwritingFeePayable`	$978.31K	USD	3 Qtrs
Change in value of ordinary shares subject to possible redemption	`ChangeInValueOfOrdinarySharesSubjectToPossibleRedemption`	$-11.87K	USD	3 Qtrs
Change in value of deferred underwriting fee payable	`ChangeInValueOfDeferredUnderwritingFeePayable`	$242.00	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.