Quarterly report pursuant to Section 13 or 15(d)

Condensed Interim Balance Sheets

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Condensed Interim Balance Sheets (USD $)
Sep. 30, 2012
Dec. 31, 2011
Current assets:    
Cash $ 167,307 $ 446,281
Prepaid insurance 0 31,712
Total current assets 167,307 477,993
Non-current assets:    
Investments held in trust 189,642,437 189,634,541
Total assets 189,809,744 190,112,534
Current liabilities:    
Accrued operating expenses and accounts payable 362,687 73,567
Sponsor loan 250,000 0
Franchise tax payable 248,222 113,222
Total current liabilities 860,909 186,789
Deferred underwriter compensation 6,647,375 6,647,375
Commitment and contingencies:    
Common stock subject to possible redemption: 17,758,559 and 17,856,407 shares (at redemption value) as of September 30, 2012 and December 31, 2011 respectively 177,301,453 178,278,367
Stockholders' equity:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding 0 0
Common stock, $0.0001 par value; 400,000,000 shares authorized; 5,403,026 and 5,305,178 shares issued and outstanding at September 30, 2012 and December 31, 2011, respectively (excluding 17,758,559 and 17,856,407 shares subject to redemption, respectively) 540 530
Additional paid-in capital 6,757,696 5,780,792
Deficit accumulated during the development stage (1,758,229) (781,319)
Total stockholders' equity, net 5,000,007 5,000,003
Total liabilities and stockholders' equity $ 189,809,744 $ 190,112,534