Alberton Acquisition Corp

CIK:0001748621|SEC Filings

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Operating costs	$ 728,052	$ 545,678
Loss from operations	(728,052)	(545,678)
Other income:
Interest income - bank		836
Interest income	1,472	559,404
Change in fair value of warrants liabilities	111,541	10,740
Total other income	113,013	570,980
Net (loss) income	$ (615,039)	$ 25,302
Redeemable Ordinary Shares
Other income:
Basic and diluted weighted average redeemable shares outstanding (in Shares)	1,320,217	4,551,951
Basic and diluted net loss per redeemable ordinary share (in Dollars per share)	$ (0.5)	$ (0.28)
Non-redeemable Ordinary Shares
Other income:
Basic and diluted weighted average redeemable shares outstanding (in Shares)	3,201,758	3,201,758
Basic and diluted net loss per redeemable ordinary share (in Dollars per share)	$ (0.5)	$ (0.28)

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities:
Net (loss) income	$ (615,039)	$ 25,302
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Interest earned on investment held in Trust Account	(1,472)	(559,404)
Change in fair value of warrants liabilities	(111,541)	(10,740)
Changes in current assets and current liabilities:
Prepaid assets		8,333
Accounts payable and accrued expense	89,233	167,594
Due to related parties	522,903	402,106
Net Cash (Used in) Provided by Operating Activities	(115,916)	33,191
Cash Flows from Investing Activities:
Purchase of investment held in Trust Account	(998,596)	(1,650,148)
Cash withdrawn from Trust Account to pay redeeming shareholders	1,495,875	105,889,888
Net Cash Provided by Investing Activities	497,279	104,239,740
Cash Flows from Financing Activities:
Proceeds from promissory notes	1,114,243	361,348
Proceeds from promissory note – related party		780,000
Redemption of ordinary shares	(1,495,875)	(105,889,888)
Net Cash Used in Financing Activities	(381,632)	(104,748,540)
Net Decrease in Cash	(269)	(475,609)
Cash – Beginning of year	1,545	477,154
Cash – End of year	1,276	1,545
Supplemental Disclosure of Non-cash Financing Activities:
Distribution of dividend warrants	636,375
Accretion of carrying value to redemption value	$ 1,000,068	$ 2,209,552

Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash	$ 1,276	$ 1,545
Total Current Assets	1,276	1,545
Cash and investments held in Trust Account	14,869,184	15,364,991
Total Assets	14,870,460	15,366,536
Liabilities, Temporary Equity, and Shareholders’ Deficit
Accounts payable and accrued expenses	270,526	181,293
Due to related parties	925,009	402,106
Promissory notes	3,124,391	2,010,148
Promissory notes - related party	1,080,000	1,080,000
Total Current Liabilities	5,399,926	3,673,547
Warrants liabilities	411,038	522,579
Deferred underwriting compensation	4,020,797	4,020,797
Total Liabilities	9,831,761	8,216,923
Commitments and Contingencies
Ordinary shares subject to possible redemption, 1,278,361 and 1,413,480 shares at December 31, 2021 and 2020 (at conversion value of $11.63 and $10.87 per share), respectively	14,869,184	15,364,991
Shareholders’ Deficit:
Preference shares, no par value, 100,000,000 shares authorized, none issued and outstanding
Ordinary shares, no par value; 300,000,000 shares authorized; 3,201,758 and 3,201,758 shares (excluding 1,278,361 and 1,413,480 shares subject to possible redemption) at December 31, 2021 and 2020, respectively
Accumulated deficit	(9,830,485)	(8,215,378)
Total Shareholders’ Deficit	(9,830,485)	(8,215,378)
Total Liabilities, Temporary Equity, and Shareholders’ Deficit	$ 14,870,460	$ 15,366,536