10-K Filing

Greenland Technologies Holding Corp. CIK: 1735041 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001615774-19-003176`
Period End Date	20181130
Filing Date	20190227
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	glacu-20181130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 24 Income Statement 10 Cash Flow Statement 25 Stockholders Equity 16

Balance Sheet 24 line items

Line Item	Tag	Value	Unit	Period
Ordinary shares, possible redemption value	`TemporaryEquityParOrStatedValue`	3.88M	shares	Point-in-time
Preferred shares, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash	`Cash`	$644.70K	USD	Point-in-time
Preferred shares, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$84.55K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$729.25K	USD	Point-in-time
Ordinary shares, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$44.31M	USD	Point-in-time
Ordinary shares, issued	`CommonStockSharesIssued`	1.91M	shares	Point-in-time
Ordinary shares, outstanding	`CommonStockSharesOutstanding`	1.91M	shares	Point-in-time
Total Assets	`Assets`	$45.04M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$31.28K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$31.28K	USD	Point-in-time
Deferred underwriting fees	`DeferredUnderwritingFees1`	$979.49K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.01M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Ordinary shares subject to possible redemption, 3,875,458 shares at redemption value	`TemporaryEquityCarryingAmountAttributableToParent`	$39.03M	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; 1,906,542 shares issued and outstanding (excluding 3,875,458 shares subject to possible redemption)	`CommonStockValue`	$5.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-66.78K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.04M	USD	Point-in-time

Income Statement 10 line items

Line Item	Tag	Value	Unit	Period
Number of shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares`	3.88M	shares	Annual
Formation and operating costs	`OperatingCostsAndExpenses`	$373.00K	USD	Annual
Interest income and unrealized losses	`InterestIncomeAndUnrealizedLosses`	$270.75K	USD	Annual
Loss from operation	`OperatingIncomeLoss`	$-373.00K	USD	Annual
Interest income	`InterestIncomeOther`	$315.91K	USD	Annual
Change in value of deferred underwriting fee liability	`PaymentsForUnderwritingExpense`	$-1.17K	USD	Annual
Unrealized loss on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$-8.52K	USD	Annual
Net Loss	`NetIncomeLoss`	$-66.78K	USD	Annual
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.42M	shares	Annual
Basic and diluted net loss per ordinary share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	Annual

Cash Flow Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-66.78K	USD	Annual
Change in value of deferred underwriting fee payable	`PaymentsForUnderwritingExpense`	$-1.17K	USD	Annual
Unrealized loss on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$-8.52K	USD	Annual
Interest earned on marketable securities held in Trust Account	`InterestIncomeOther`	$315.91K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$84.55K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$31.28K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-426.26K	USD	Annual
Investment of cash in Trust Account	`PaymentsToInvestInDecommissioningFund`	$44.00M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.00M	USD	Annual
Proceeds from issuance of founder shares to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	Annual
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromRepurchaseOfRedeemablePreferredStock`	$42.68M	USD	Annual
Proceeds from sale of Private Units	`ProceedsFromSaleOfInterestInCorporateUnit`	$2.82M	USD	Annual
Proceeds from issuance of unit purchase option	`ProceedsFromIssuanceOfSecuredTaxExemptDebt`	$100.00	USD	Annual
Payment of offering costs	`PaymentOfOfferingCosts`	$454.13K	USD	Annual
Proceeds from promissory note - related party	`ProceedsFromRelatedPartyDebt`	$227.67K	USD	Annual
Repayment of promissory note - related party	`RepaymentsOfRelatedPartyDebt`	$227.67K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.07M	USD	Annual
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$644.70K	USD	Annual
Cash - December 28, 2017 (inception)	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - December 28, 2017 (inception)	`CashAndCashEquivalentsAtCarryingValue`	$644.70K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$644.70K	USD	Point-in-time
Initial classification of ordinary shares subject to redemption	`InitialClassificationOfOrdinarySharesSubjectToRedemption`	$39.08M	USD	Annual
Initial classification of deferred underwriting fee payable	`InitialClassificationOfDeferredUnderwritingFeePayable`	$978.31K	USD	Annual
Change in value of ordinary shares subject to possible redemption	`ChangeInValueOfOrdinarySharesSubjectToPossibleRedemption`	$-58.41K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Sale of Net of underwriting discounts and offering expenses	`StockIssuedDuringPeriodSharesForUnderwritingDiscountsAndOfferingExpenses`	4.40M	shares	Annual
Sale of Private Units	`StockIssuedDuringPeriodSharesThroughPrivatePlacement`	282,000.00	shares	Annual
Beginning balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	-	USD	Point-in-time
Issuance of founder shares to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Annual
Sale of 4,400,000 Units, net of underwriting discounts and offering expenses	`StockIssuedDuringPeriodValueUnderwritingDiscountsAndOfferingExpenses`	$41.25M	USD	Annual
Sale of 4,400,000 Units, net of underwriting discounts and offering expenses (in shares)	`StockIssuedDuringPeriodSharesForUnderwritingDiscountsAndOfferingExpenses`	4.40M	shares	Annual
Sale of 282,000 Private Units	`ProceedsFromIssuanceOfPrivatePlacement`	$2.82M	USD	Annual
Sale of 282,000 Private Units (in sahres)	`StockIssuedDuringPeriodSharesThroughPrivatePlacement`	282,000.00	shares	Annual
Proceeds from the sale of unit purchase option	`ProceedsFromIssuanceOfSecuredTaxExemptDebt`	$100.00	USD	Annual
Forfeiture of founder shares	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	Annual
Ordinary shares subject to redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-39.03M	USD	Annual
Ordinary shares subject to redemption (in shares)	`StockRedeemedOrCalledDuringPeriodShares`	3.88M	shares	Annual
Net loss	`NetIncomeLoss`	$-66.78K	USD	Annual
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	-	USD	Point-in-time

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