Churchill Capital Corp
CIK:0001744895|SEC Filings
CONDENSED STATEMENT OF OPERATIONS |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 31, 2019
USD ($)
$ / shares
shares
| ||||||
| Operating costs | $ 4,412,950 | |||||
| Loss from operations | (4,412,950) | |||||
| Other income: | ||||||
| Interest income | 3,846,538 | |||||
| Other income, net | 3,846,538 | |||||
| Loss before provision for income taxes | (566,412) | |||||
| Provision for income taxes | (735,669) | |||||
| Net loss | $ (1,302,081) | |||||
| Weighted average shares outstanding, basic and diluted | shares | 19,948,606 | [1] | ||||
| Basic and diluted net loss per common share | $ / shares | $ (0.21) | [2] | ||||
| ||||||
CONDENSED STATEMENT OF CASH FLOWS |
3 Months Ended |
|---|---|
|
Mar. 31, 2019
USD ($)
| |
| Cash Flows from Operating Activities: | |
| Net loss | $ (1,302,081) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |
| Interest earned on marketable securities held in Trust Account | (3,846,538) |
| Deferred tax provision | (13,098) |
| Changes in operating assets and liabilities: | |
| Prepaid expenses and other current assets | (11,175) |
| Accounts payable and accrued expenses | 3,813,585 |
| Income taxes payable | 748,767 |
| Net cash used in operating activities | (610,540) |
| Net Change in Cash | (610,540) |
| Cash – Beginning | 3,528,190 |
| Cash – Ending | 2,917,650 |
| Non-cash investing and financing activities: | |
| Change in value of common stock subject to possible redemption | $ 1,302,084 |