|9 Months Ended|
Sep. 30, 2020
|Subsequent Events [Abstract]|
NOTE 11. SUBSEQUENT EVENTS
The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the financial statements were issued. Other than as discussed below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements.
The Company issued the following persons unsecured promissory notes on the dates and in the amounts set forth below: (i) $16,080.00 to an affiliate of Axis Public Ventures on October 16, 2020; (ii) $43,000.00 to Gonzalo Gil and $30,000.00 to Lionheart Equities on October 27, 2020 (iii) $52,428.68 to an affiliate of Axis Public Ventures on October 28, 2020; and (iv) $113,129.58 to LB&B Capital on October 29, 2020. All of the promissory notes are non-interest bearing and due to be paid upon the consummation of a Business Combination. The loans will be forgiven if the Company is unable to consummate a Business Combination except to the extent of any funds held outside of the Trust Account.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef