10-Q Filing

Greenland Technologies Holding Corp. CIK: 1735041 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001615774-19-005714`
Period End Date	20190228
Filing Date	20190412
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	glacu-20190228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 11 Cash Flow Statement 13 Stockholders Equity 8

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Ordinary shares, possible redemption value	`TemporaryEquityParOrStatedValue`	3.85M	shares	Point-in-time
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
Preferred shares, no par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred shares, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$501.72K	USD	Point-in-time
Preferred shares, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash	`Cash`	$644.70K	USD	Point-in-time
Preferred shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$51.58K	USD	Point-in-time
Preferred shares, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$84.55K	USD	Point-in-time
Ordinary shares, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$553.30K	USD	Point-in-time
Ordinary shares, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$729.25K	USD	Point-in-time
Ordinary shares, issued	`CommonStockSharesIssued`	1.91M	shares	Point-in-time
Ordinary shares, issued	`CommonStockSharesIssued`	1.91M	shares	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$44.31M	USD	Point-in-time
Ordinary shares, issued	`CommonStockSharesIssued`	1.93M	shares	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$44.55M	USD	Point-in-time
Ordinary shares, outstanding	`CommonStockSharesOutstanding`	1.91M	shares	Point-in-time
Total Assets	`Assets`	$45.04M	USD	Point-in-time
Total Assets	`Assets`	$45.10M	USD	Point-in-time
Ordinary shares, outstanding	`CommonStockSharesOutstanding`	1.91M	shares	Point-in-time
Ordinary shares, outstanding	`CommonStockSharesOutstanding`	1.93M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$87.06K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$31.28K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$87.06K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$31.28K	USD	Point-in-time
Deferred underwriting fees	`DeferredUnderwritingFees1`	$979.25K	USD	Point-in-time
Deferred underwriting fees	`DeferredUnderwritingFees1`	$979.49K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.07M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.01M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Ordinary shares subject to possible redemption, 3,853,677 and 3,875,458 shares at redemption value as of February 28, 2019 and November 30, 2018, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$39.04M	USD	Point-in-time
Ordinary shares subject to possible redemption, 3,853,677 and 3,875,458 shares at redemption value as of February 28, 2019 and November 30, 2018, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$39.03M	USD	Point-in-time
Preferred shares, no par value; unlimited shares authorized, none issued and outstanding	`PreferredStockValue`	-	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; 1,928,323 and 1,906,542 shares issued and outstanding (excluding 3,853,677 and 3,875,458 shares subject to possible redemption) as of February 28, 2019 and November 30, 2018, respectively	`CommonStockValue`	$5.05M	USD	Point-in-time
Ordinary shares, no par value; unlimited shares authorized; 1,928,323 and 1,906,542 shares issued and outstanding (excluding 3,853,677 and 3,875,458 shares subject to possible redemption) as of February 28, 2019 and November 30, 2018, respectively	`CommonStockValue`	$5.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-54.90K	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`	$5.00M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.04M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$45.10M	USD	Point-in-time

Income Statement 11 line items

Line Item	Tag	Value	Unit	Period
Number of shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares`	3.85M	shares	1 Quarter
Number of shares subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares`	3.88M	shares	Annual
Operating costs	`OperatingCostsAndExpenses`	$231.72K	USD	1 Quarter
Interest income and unrealized gains	`InterestIncomeAndUnrealizedLosses`	$213.14K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-231.72K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$258.02K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$-14.65K	USD	1 Quarter
Change in value of deferred underwriting fee liability	`PaymentsForUnderwritingExpense`	$236.00	USD	1 Quarter
Net Income	`NetIncomeLoss`	$11.88K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.91M	shares	1 Quarter
Basic and diluted net loss per ordinary share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter

Cash Flow Statement 13 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.88K	USD	1 Quarter
Change in value of deferred underwriting fee payable	`PaymentsForUnderwritingExpense`	$236.00	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InterestIncomeOther`	$258.02K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`HeldToMaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLoss`	$-14.65K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-32.97K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$55.78K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-142.98K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-142.98K	USD	1 Quarter
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$501.72K	USD	Point-in-time
Cash - Beginning	`CashAndCashEquivalentsAtCarryingValue`	$644.70K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$501.72K	USD	Point-in-time
Cash - Ending	`CashAndCashEquivalentsAtCarryingValue`	$644.70K	USD	Point-in-time
Change in value of ordinary shares subject to possible redemption	`ChangeInValueOfOrdinarySharesSubjectToPossibleRedemption`	$11.88K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at beginning	`StockholdersEquity`	$5.00M	USD	Point-in-time
Change in value of ordinary shares subject to redemption	`StockRedeemedOrCalledDuringPeriodValue`	$-11.88K	USD	1 Quarter
Change in value of ordinary shares subject to redemption (in shares)	`StockRedeemedOrCalledDuringPeriodShares`	3.85M	shares	1 Quarter
Change in value of ordinary shares subject to redemption (in shares)	`StockRedeemedOrCalledDuringPeriodShares`	3.88M	shares	Annual
Net income	`NetIncomeLoss`	$11.88K	USD	1 Quarter
Balance at ending	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance at ending	`StockholdersEquity`	$5.00M	USD	Point-in-time

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