0001719406
2019-12-31
0001719406
us-gaap:CommonStockMember
2019-12-31
0001719406
us-gaap:AdditionalPaidInCapitalMember
2019-12-31
0001719406
us-gaap:RetainedEarningsMember
2019-12-31
0001719406
us-gaap:FairValueInputsLevel1Member
2019-12-31
0001719406
2020-01-01
2020-12-31
0001719406
2020-12-31
0001719406
us-gaap:CommonStockMember
2020-01-01
2020-12-31
0001719406
us-gaap:CommonStockMember
2020-12-31
0001719406
us-gaap:AdditionalPaidInCapitalMember
2020-01-01
2020-12-31
0001719406
us-gaap:AdditionalPaidInCapitalMember
2020-12-31
0001719406
us-gaap:RetainedEarningsMember
2020-01-01
2020-12-31
0001719406
us-gaap:RetainedEarningsMember
2020-12-31
0001719406
us-gaap:FairValueInputsLevel1Member
2020-12-31
0001719406
us-gaap:CommonStockMember
2019-01-01
2019-12-31
0001719406
us-gaap:CommonStockMember
2018-12-31
0001719406
us-gaap:AdditionalPaidInCapitalMember
2019-01-01
2019-12-31
0001719406
us-gaap:AdditionalPaidInCapitalMember
2018-12-31
0001719406
us-gaap:RetainedEarningsMember
2019-01-01
2019-12-31
0001719406
us-gaap:RetainedEarningsMember
2018-12-31
0001719406
2019-01-01
2019-12-31
0001719406
2018-12-31
0001719406
2020-06-30
0001719406
BRPAU:NonredeemableCommonStockMember
2020-01-01
2020-12-31
0001719406
BRPAU:NonredeemableCommonStockMember
2019-01-01
2019-12-31
0001719406
BRPAU:RedeemableCommonStockMember
2020-01-01
2020-12-31
0001719406
BRPAU:RedeemableCommonStockMember
2019-01-01
2019-12-31
0001719406
2021-05-07
0001719406
srt:ScenarioPreviouslyReportedMember
2020-12-31
0001719406
srt:ScenarioPreviouslyReportedMember
2020-01-01
2020-12-31
0001719406
srt:RestatementAdjustmentMember
2020-12-31
0001719406
srt:RestatementAdjustmentMember
2020-01-01
2020-12-31
0001719406
BRPAU:NonredeemableCommonStockMember
srt:ScenarioPreviouslyReportedMember
2020-01-01
2020-12-31
0001719406
BRPAU:NonredeemableCommonStockMember
srt:RestatementAdjustmentMember
2020-01-01
2020-12-31
0001719406
us-gaap:FairValueInputsLevel3Member
2020-12-31
0001719406
us-gaap:FairValueInputsLevel3Member
2019-12-31
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
xbrli:pure
Big Rock Partners Acquisition Corp.
0001719406
10-K/A
2020-12-31
true
--12-31
No
No
Yes
Non-accelerated Filer
true
false
true
true
Yes
DE
001-38302
FY
2020
6
466
11079
69489
82458
32005205
32005205
5967947
5967947
32074694
6050405
622441
609509
2574205
3936644
3281546
655098
24500488
0
0
0
2844
2688
4627662
2831088
369495
-720015
-64917
-655098
5000001
2844
4627662
369495
2113761
2688
2831088
-720015
2725
5036213
-38932
5000006
2768859
-655098
32074694
6050405
2301335
0
0.001
0.001
1000000
1000000
0
0
0
0
0.001
0.001
100000000
100000000
2844414
2688242
2844414
2688242
907406
713187
-907406
-713187
-1071669
492633
-416571
-655098
17841
84206
-1089510
-1089510
408427
408427
-434412
-655098
2736258
2783021
546586
4555229
-.40
-.11
0.00
0.15
-.16
-.24
2844414
2688242
2725039
280000
280000
138764
1205820
30350
-19114
-17841
69483
339139
71342
0
-16311
-598617
-792731
26297218
40726687
161430
512993
26176022
40246581
274266
845623
481007
481141
35000
65000
-26297218
-40726687
-25576945
-39464923
460
-11073
0
170000
414583
688432
0
280000
2017-09-18
0
105559
0
0
0
105559
0
105559
0
0
17841
102332
-87480
2936
0
0
-18079
0
105559
-21062
.2100
.2100
.0430
.0000
-.0170
.0040
-.0990
-.0430
-.0170
.1710
6100000
0
51642
69483
30350
1535623
1809889
416141
862148
138764
1205820
-164263
1205820
490835
-655098
352071
0
414583
119375
-1538815
-132
-1538683
-27786
-299253
-28
-299225
282626
993099
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Big Rock Partners Acquisition
Corp. (the “Company”) is a blank check company incorporated in Delaware on September 18, 2017. The Company was formed
for the purpose of acquiring, through a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization,
or other similar business transaction, one or more operating businesses or entities (a “Business Combination”). The
Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company has one subsidiary,
Big Rock Merger Corp., a wholly-owned subsidiary of the Company incorporated in Delaware on January 22, 2019 (“Merger Sub”).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">All activity through December
31, 2020 relates to the Company’s formation, its initial public offering (“Initial Public Offering”), which is
described below, identifying a target company for a Business Combination, and activities in connection with the proposed acquisition
of NeuroRx, Inc., a Delaware corporation (“<u>NeuroRx</u>”) (see Note 8).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The registration statement
for the Company’s Initial Public Offering was declared effective on November 20, 2017. On November 22, 2017, the Company
consummated the Initial Public Offering of 6,000,000 units (the “Units” and, with respect to the common stock included
in the Units being offered, the “Public Shares”), generating gross proceeds of $60,000,000, which is described in Note
4. Each Unit consists of one share of common stock, one right (“Public Right”) and one-half of one warrant (“Public
Warrant”). Each Public Right will convert into one-tenth (1/10) of one share of common stock upon consummation of a Business
Combination. Each whole Public Warrant entitles the holder to purchase one share of common stock at an exercise price of $11.50
per whole share.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Simultaneously with the
Initial Public Offering, the Company consummated the sale of 250,000 units (the “Private Placement Units”) at a price
of $10.00 per Unit in a private placement to Big Rock Partners Sponsor, LLC (the “Sponsor”), generating gross proceeds
of $2,500,000, which is described in Note 5.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Following the closing of
the Initial Public Offering, $60,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public
Offering and the Private Placement Units was placed in a trust account (the “Trust Account”) which may be invested
in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended
(the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds
itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the Investment Company Act, as
determined by the Company, until the earlier of: (i) the consummation of a Business Combination or (ii) the distribution of the
Trust Account, as described below.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On November 29, 2017, in
connection with the underwriters’ exercise of their over-allotment option in full, the Company consummated the sale of an
additional 900,000 Units, and the sale of an additional 22,500 Private Placement Units at $10.00 per unit, generating total gross
proceeds of $9,225,000. A total of $9,000,000 of the net proceeds were deposited in the Trust Account, bringing the aggregate proceeds
held in the Trust Account to $69,000,000.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">At the closing of the Initial
Public Offering, the Company issued EarlyBirdCapital, Inc. ("EarlyBirdCapital") and its designees 120,000 shares of common
stock (the “Representative Shares”). On November 29, 2017, the Company issued an additional 18,000 Representative Shares
for no consideration (see Note 9).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Transaction costs amounted
to $2,172,419, consisting of $1,725,000 of underwriting fees and $447,419 of Initial Public Offering costs.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company’s management
has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and Private Placement
Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination.
The Company’s initial Business Combination must be with one or more target businesses that together have a fair market value
equal to at least 80% of the balance in the Trust Account (excluding taxes payable on income earned on the Trust Account) at the
time of the signing an agreement to enter into a Business Combination. The Company will only complete a Business Combination if
the post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise
acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the
Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company will provide
its stockholders with the opportunity to redeem all or a portion of their shares included in the Units sold in the Initial Public
Offering (the “Public Shares”) upon the completion of a Business Combination either (i) in connection with a stockholder
meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will
seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion.
The stockholders will be entitled to redeem their shares for a pro rata portion of the amount then on deposit in the Trust Account
($10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the
Company to pay its franchise and income tax obligations). There will be no redemption rights upon the completion of a Business
Combination with respect to the Company’s warrants.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company will proceed
with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business
Combination and, if the Company seeks stockholder approval, a majority of the outstanding shares voted are voted in favor of the
Business Combination. If a stockholder vote is not required by law and the Company does not decide to hold a stockholder vote for
business or other legal reasons, the Company will, pursuant to its Amended and Restated Certificate of Incorporation, conduct the
redemptions pursuant to the tender offer rules of the Securities and Exchange Commission (the “SEC”), and file tender
offer documents with the SEC prior to completing a Business Combination. If, however, a stockholder approval of the transaction
is required by law, or the Company decides to obtain stockholder approval for business or other legal reasons, the Company will
offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer
rules. If the Company seeks stockholder approval in connection with a Business Combination, the Company’s Sponsor, officers
and directors (the “Initial Stockholders”) have agreed (a) to vote their Founder’s Shares (as defined in Note
5), Placement Shares (as defined in Note 5) and any Public Shares held by them in favor of approving a Business Combination and
(b) not to convert any Founder’s Shares, Placement Shares and any Public Shares held by them in connection with a stockholder
vote to approve a Business Combination or sell any such shares to the Company in a tender offer in connection with a Business Combination.
Additionally, each public stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against
the proposed transaction.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company initially had
until November 22, 2018 to complete a Business Combination. However, if the Company anticipated that it would not be able to consummate
a Business Combination by November 22, 2018, the Company could extend the period of time to consummate a Business Combination up
to two times, each by an additional three months. Pursuant to the terms of the Company's Amended and Restated Certificate of Incorporation
and the trust agreement entered into between the Company and Continental Stock Transfer & Trust Company on November 20, 2017,
in order to extend the time available for the Company to consummate a Business Combination, the Sponsor or its affiliates or designees
must deposit into the Trust Account $690,000 ($0.10 per share) for each three month extension, up to an aggregate of $1,380,000,
or $0.20 per share, if the Company extends for the full six months, on or prior to the date of the applicable deadline.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On November 20, 2018, the
period of time for the Company to consummate a Business Combination was extended for an additional three-month period ending on
February 22, 2019, and, accordingly, $690,000 was deposited into the Trust Account. On February 21, 2019, the Company further extended
the time required to consummate a Business Combination to May 22, 2019 and deposited an additional $690,000 into the Trust Account.
The deposits were funded by non-interest bearing unsecured promissory notes from BRAC Lending Group LLC, an affiliate of the underwriter
(“BRAC”) (see Note 7). The notes are repayable upon the consummation of a Business Combination (see Note 6).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On May 21, 2019, the Company’s
stockholders approved an amendment to its Amended and Restated Certificate of Incorporation to extend the period of time for which
the Company was required to consummate a Business Combination to August 22, 2019. The number of shares of common stock presented
for redemption in connection with the extension was 2,119,772. The Company paid cash in the aggregate amount of $22,099,233, or
approximately $10.43 per share, to redeeming stockholders. The Company agreed to deposit, or cause to be deposited on its behalf,
into the Trust Account $0.02 for each public share outstanding for each 30-day extension period utilized through August 22, 2019.
In connection with this extension, the Company deposited an aggregate of $286,814 into the Trust Account, of which $280,000
was contributed to the Trust Account by a third party and is not required to be repaid by the Company. Accordingly, the Company
has recorded this amount as a credit to additional paid in capital in the accompanying statements of stockholders’ equity.
In order to pay for part of the third extension payment, the Company issued an unsecured promissory note (the “Second Note”)
in favor of BRAC, in the original principal amount of $6,814 (see Note 7).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On August 21, 2019, the
Company stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to extend the
period of time for which the Company is required to consummate a Business Combination (the “Extension”) from August
22, 2019 to November 22, 2019. The number of shares of common stock presented for redemption in connection with the Extension was
846,888. The Company paid cash in the aggregate amount of $8,891,378, or approximately $10.50 per share, to redeeming stockholders.
The Company agreed to deposit, or cause to be deposited on its behalf, into the Trust Account $0.02 for each public share outstanding
for each 30-day extension period utilized through the Extension. In connection with this extension, the Company deposited an aggregate
of $236,000 into the Trust Account to fund this extension payment, which amount was loaned to the Company by AZ Property Partners,
LLC (“AZ Property Partners”), an entity majority owned and controlled by Richard Ackerman, the Company's Chairman,
President and Chief Executive Officer, and BRAC (see Note 7).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On November 21, 2019, the
Company's stockholders approved an amendment to the Company's Amended and Restated Certificate of Incorporation to extend the period
of time for which the Company is required to consummate a Business Combination (the “Second Extension”) from November
22, 2019 to March 23, 2020. The number of shares of common stock presented for redemption in connection with the Second Extension
was 919,091. The Company paid cash in the aggregate amount of $9,736,077, or approximately $10.59 per share, to redeeming stockholders.
The Company agreed to deposit, or cause to be deposited on its behalf, into the Trust Account $0.02 for each public share outstanding
for each 30-day extension period utilized through the Second Extension. In connection with this extension, the Company deposited
an aggregate of $60,285 into the Trust Account to fund the first thirty-day extension through December 22, 2019, which amount was
loaned to the Company by AZ Property Partners and BRAC (see Note 7). In January and February 2020, AZ Property Partners and BRAC
loaned the Company an additional aggregate amount of $90,427 each to pay for the extension through March 23, 2020, which was deposited
into the Trust Account.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On March 23, 2020, the
Company's stockholders approved an amendment to the Amended and Restated Certificate of Incorporation to extend the period of time
for which the Company is required to consummate a Business Combination (the “Third Extension”) from March 23, 2020
to July 23, 2020. The number of shares of common stock presented for redemption in connection with the Third Extension was 2,433,721.
The Company paid cash in the aggregate amount of $25,997,965, or approximately $10.68 per share, to redeeming stockholders. The
Company agreed to deposit, or cause to be deposited on its behalf, into the Trust Account $0.02 for each public share outstanding
for each 30-day extension period utilized through the Third Extension. Notwithstanding the foregoing, if the volume weighted average
price of the Company's common stock during the 10-day trading period ending on the 3rd day prior to the end of any applicable monthly
period was equal to or greater than $11.00 and the trading volume during the 10-day trading period exceeded 100,000 shares, the
obligation to make any particular deposit would terminate with respect to the immediately following monthly period (but not with
respect to any other future monthly period). In connection with this extension, the Company deposited an aggregate of $34,858 into
the Trust Account to fund the extension through July 23, 2020, of which $17,429 was loaned to the Company by each of AZ Property
Partners and BRAC. </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On July 23, 2020, the Company's
stockholders approved an amendment to the Amended and Restated Certificate of Incorporation to extend the period of time for which
the Company is required to consummate a Business Combination (the “Fourth Extension”) from July 23, 2020 to December
23, 2020. The number of shares of common stock presented for redemption in connection with the Fourth Extension was 27,786. The
Company paid cash in amount of $299,253, or approximately $10.77 per share, to redeeming stockholders. The Company agreed to deposit,
or cause to be deposited on its behalf, into the Trust Account $0.02 for each public share outstanding for each 30-day extension
period utilized through the Fourth Extension. In connection with this extension, as of November 13, 2020, the Company deposited
an aggregate of $44,219 into the Trust Account, of which $22,110 was deposited as of September 30, 2020, to fund the extension
through November 23, 2020, which amounts were loaned to the Company by AZ Property Partners and BRAC. Notwithstanding the foregoing,
if the volume weighted average price of the Company's common stock during the 10-day trading period ending on the 3rd day prior
to the end of any applicable monthly period is equal to or greater than $11.00 and the trading volume during the 10-day trading
period exceeds 100,000 shares, the obligation to make any particular deposit would terminate with respect to the immediately following
monthly period (but not with respect to any other future monthly period).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On December 18, 2020, the
Company held a special meeting pursuant to which the Company’s stockholders approved an amendment to the Amended and Restated
Certificate of Incorporation to extend the period of time for which the Company is required to consummate a Business Combination
(the “Fifth Extension”) from December 23, 2020 to April 23, 2021 (the “Extended Date”). In connection with
this extension, no stockholders elected to redeem their shares of common stock.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">If the Company is unable
to complete a Business Combination by the Extended Date, the Company will (i) cease all operations except for the purpose of winding
up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, redeem 100% of the outstanding Public
Shares, at a per share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest
earned (net of taxes payable), divided by the number of then outstanding Public Shares, which redemption will completely extinguish
public stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject
to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining
stockholders and the Company’s board of directors, proceed to commence a voluntary liquidation and thereby a formal dissolution
of the Company, subject in each case to its obligations to provide for claims of creditors and the requirements of applicable law.
In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution (including
Trust Account assets) will be less than the $10.00 per Unit in the Initial Public Offering.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Initial Stockholders
have agreed to (i) waive their redemption rights with respect to Founder Shares, Placement Shares and any Public Shares they may
acquire during or after the Initial Public Offering in connection with the consummation of a Business Combination, (ii) to waive
their rights to liquidating distributions from the Trust Account with respect to their Founder’s Shares and Placement Shares
if the Company fails to consummate a Business Combination by the Extended Date and (iii) not to propose an amendment to the Company’s
Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company’s obligation to
redeem 100% of its Public Shares if the Company does not complete a Business Combination, unless the Company provides the public
stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment. However, the Initial Stockholders
will be entitled to liquidating distributions with respect to any Public Shares acquired if the Company fails to consummate a Business
Combination or liquidates by Extended Date.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">In order to protect the
amounts held in the Trust Account, A/Z Property Partners, has agreed that it will be liable to ensure that the proceeds in the
Trust Account are not reduced below $10.00 per share by the claims of target businesses or claims of vendors or other entities
that are owed money by the Company for services rendered or contracted for or products sold to the Company. Additionally, the agreement
entered into by AZ Property Partners specifically provides for two exceptions to the indemnity it has given: it will have no liability
(1) as to any claimed amounts owed to a target business or vendor or other entity who has executed an agreement with the Company
waiving any right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account, or (2) as
to any claims for indemnification by the underwriters against certain liabilities, including liabilities under the Securities Act
of 1933, as amended (the “Securities Act”). The Company will seek to reduce the possibility that AZ Property Partners
will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers, prospective
target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right,
title, interest or claim of any kind in or to monies held in the Trust Account.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b>NASDAQ Notifications</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On January 7, 2019, the
Company received a notice from the staff of the Listing Qualifications Department of Nasdaq (the “Staff”) stating that
the Company was no longer in compliance with Nasdaq Listing Rule 5620(a) for continued listing due to its failure to hold an annual
meeting of stockholders within twelve months of the end of the Company’s fiscal year ended December 31, 2017. The Company
submitted a plan of compliance with Nasdaq and Nasdaq granted the Company an extension until May 22, 2019 to regain compliance
with the rule by holding an annual meeting of stockholders. The Company held its annual meeting of stockholders on May 21, 2019
and, accordingly, the Staff determined that the Company was in compliance with Nasdaq Listing Rule 5620(a) for continued listing
and the matter was closed.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On August 9, 2019, the
Company received a notice from the Staff stating that the Company was no longer in compliance with Nasdaq Listing Rule 5550(a)(3)
for continued listing due to its failure to maintain a minimum of 300 public holders (the “Rule”). The Company had
until September 23, 2019 to provide Nasdaq with a specific plan to achieve and sustain compliance with the listing requirement.
The notice is a notification of deficiency, not of imminent delisting, and had no current effect on the listing or trading of the
Company's securities on Nasdaq.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On September 23, 2019 and
October 28, 2019, the Company submitted a plan to regain compliance with Nasdaq and requested an extension through February 5,
2020. On October 28, 2019, Nasdaq requested additional information regarding the Company's compliance plan, to which the Company
responded on November 8, 2019. On February 11, 2020, the Company received a notice from the Staff stating that, based upon the
Company’s non-compliance with the Rule, the Staff had determined to delist the Company’s common stock from Nasdaq unless
the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel“). The Company was also notified
that as a result of Nasdaq’s determination to delist the Company’s common stock, the Company’s warrants and rights
no longer comply with Nasdaq Listing Rule 5560(a), which requires the underlying securities of such exercisable securities to remain
listed on Nasdaq, and the Company’s Units no longer comply with Nasdaq Listing Rule 5225(b)(1)(A), which requires all component
parts of units to meet the requirements for initial and continued listing, and the Company’s units, warrants and rights are
now subject to delisting. The Company requested a hearing, which request automatically stayed any further action by the Staff pending
the ultimate conclusion of the hearing process.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On March 25, 2020, the
Company received formal notice from Nasdaq indicating that the Staff had granted the Company’s request for continued listing
on Nasdaq. The decision followed the Company’s hearing before the Panel, which took place on March 19, 2020. The Company’s
continued listing is subject to the Company’s satisfaction of a number of conditions, including, ultimately, completion of
a Business Combination with an operating company by no later than August 10, 2020, and the combined entity’s compliance with
all applicable criteria for initial listing on Nasdaq at the time of the merger. The Company failed to meet certain of the conditions
contained in the extension grant and has submitted a modified extension request to the Staff.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On August 10, 2020, the
Company submitted a letter to Nasdaq indicating that it was in compliance with the Rule as of July 31, 2020 and, as a result, satisfies
the minimum 300 public holder requirement and all other applicable criteria for continued listing on Nasdaq. Accordingly, the Company
requested that the Staff render a formal determination to continue the listing of the Company’s securities. On August 11,
2020, the Company received a formal notice from Nasdaq notifying the Company that it regained compliance with the minimum 300 public
holder requirements under Nasdaq rules and that the Panel had determined to continue the listing of the Company's securities on
Nasdaq and close the matter.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On November 23, 2020, the
Company received a notice from Nasdaq stating that, as of November 20, 2020, the Company was not in compliance with Listing Rule
IM-5101-2 (the “Rule”), which requires that a special purpose acquisition company complete one or more business combinations
within 36 months of the effectiveness of the registration statement filed in connection with its initial public offering. Since
the Company’s registration statement became effective on November 20, 2017, it was required to complete an initial business
combination by no later than November 20, 2020. The Rule also provides that failure to comply with this requirement will result
in the Listing Qualifications Department issuing a Staff Delisting Determination under Rule 5810 to delist the Company’s
securities.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b>Liquidity</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">As of December 31, 2020,
the Company had $466 in its operating bank account, $5,967,947 in cash and marketable securities held in the Trust Account to be
used for a Business Combination or to repurchase or convert stock in connection therewith and an adjusted working capital deficit
of $609,509, which excludes prepaid income taxes of $51,642 and prepaid franchise taxes of $30,350, which have been paid from amounts
in the Trust Account. As of December 31, 2020, approximately $138,764 of the amount on deposit in the Trust Account represented
interest income, which is available to pay the Company’s tax obligations. To date, the Company has withdrawn $716,788 of
interest from the Trust Account in order to pay the Company’s franchise and income taxes, of which $161,430 was withdrawn
during the year ended December 31, 2020.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On November 17, 2018, the
Company entered into an agreement (the “Agreement”) with the Sponsor and BRAC, pursuant to which the Sponsor agreed
to be responsible for all liabilities of the Company as of November 17, 2018 and to loan the Company the funds necessary to pay
the expenses of the Company other than Business Combination expenses through the closing of a Business Combination when and as
needed. If a Business Combination is not consummated, all outstanding loans made by the Sponsor will be forgiven (see Note 7).
In addition, BRAC agreed to loan the Company all funds necessary to pay expenses incurred in connection with and in order to consummate
a business combination (the “Business Combination Expenses”) and such loans will be added to the Initial Notes (as
defined in Note 7). If the Company does not consummate a Business Combination, all outstanding loans under the Notes will be forgiven,
except to the extent of any funds held outside of the Trust Account after paying all other fees and expenses of the Company incurred
prior to the date of such failure to consummate a Business Combination (see Note 7).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company may raise additional
capital through loans or additional investments from the Sponsor or its stockholders, officers, directors, or third parties. Other
than as described above, the Company’s officers and directors and the Sponsor may, but are not obligated to, loan the Company
funds, from time to time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working
capital needs.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company
does not believe it will need to raise additional funds in order to meet expenditures required for operating its business.
Neither the Sponsor, nor any of the stockholders, officers or directors, or third parties are under any obligation to advance
funds to, or invest in, the Company, except as discussed above. Accordingly, the Company may not be able to obtain additional
financing. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve
liquidity, which could include, but not necessarily be limited to suspending the pursuit of a potential transaction. The
Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all.
Even if the Company can obtain sufficient financing or raise additional capital, it only has until April 23, 2021 (or as may
be extended) to consummate a Business Combination. There is no assurance that the Company will be able to do so prior to
April 23, 2021, or as may be extended by shareholder vote.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"><b><i>Risks and Uncertainties</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Management continues to
evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a
negative effect on the Company's financial position, results of its operations and/or search for a target company, the specific
impact is not readily determinable as of the date of these consolidated financial statements. The financial statements do not include
any adjustments that might result from the outcome of this uncertainty.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Basis of Presentation</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 80pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The accompanying consolidated
financial statements are presented in conformity with accounting principles generally accepted in the United States of America
(“GAAP”) and pursuant to the rules and regulations of the SEC.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"><b><i>Principles of Consolidation</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The accompanying consolidated
financial statements include the accounts of the Company and its majority owned subsidiary where the Company has the ability to
exercise control. All significant intercompany balances and transactions have been eliminated in consolidation. Activities in relation
to the noncontrolling interest are not considered to be significant and are, therefore, not presented in the accompanying consolidated
financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Emerging Growth Company</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company is an “emerging
growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act
of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that
are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required
to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding
advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Further, Section 102(b)(1)
of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards
until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not
have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements
that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt
out of such extended transition period which means that when a standard is issued or revised and it has different application dates
for public or private companies, the Company, as an emerging growth company, will adopt the new or revised standard at the time
private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements
with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using
the extended transition period difficult or impossible because of the potential differences in accounting standards used.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Use of Estimates</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The preparation of consolidated
financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 60pt">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Making estimates requires
management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition,
situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating
its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could
differ significantly from the Company’s estimates.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Cash and Cash Equivalents</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company considers all
short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did
not have any cash equivalents as of December 31, 2020 and 2019.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Cash and Marketable Securities Held in
Trust Account</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">At December 31, 2020 and
2019, the assets held in the Trust Account were held in money market funds, which are invested in U.S. Treasury securities. Through
December 31, 2020, the Company has withdrawn $716,788 of interest from the Trust Account in order to pay its franchise and income
taxes, of which $161,430 was withdrawn during the year ended December 31, 2020.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Warrant Liabilities</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The Company accounts for warrants as either
equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable
authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)
480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC
815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the
definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification
under ASC 815, including whether the warrants are indexed to the Company’s own common shares and whether the warrant holders
could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other
conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time
of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">For issued or modified warrants that meet all
of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital
at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants
are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes
in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations. The fair
value of the Private Placement Warrants was estimated using a Black-Scholes valuation approach (see Note 12).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Fair Value of Financial Instruments</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The Company applies ASC 820, <i>Fair Value Measurement</i>
("ASC 820"), which establishes framework for measuring fair value and clarifies the definition of fair value within that
framework. ASC 820 defines fair value as an exit price, which is the price that would be received for an asset or paid to transfer
a liability in the Company’s principal or most advantageous market in an orderly transaction between market participants
on the measurement date. The fair value hierarchy established in ASC 820 generally requires an entity to maximize the use of observable
inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect the assumptions that market
participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent
of the reporting entity. Unobservable inputs reflect the entity’s own assumptions based on market data and the entity’s
judgments about the assumptions that market participants would use in pricing the asset or liability and are to be developed based
on the best information available in the circumstances.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The valuation hierarchy is composed of three
levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair
value measurement. The levels within the valuation hierarchy are described below:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1 - Assets and liabilities with unadjusted,
quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices
in active markets for identical assets or liabilities.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2 - Inputs to the fair value measurement
are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect
observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3 - Inputs to the fair value measurement
are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the
assets or liabilities.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i></i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The fair value of
the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,”
approximates the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to their short-te<font style="font: 8pt Times New Roman, Times, Serif">rm
nature.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">See Note 12 for additional information on assets
and liabilities measured at fair value.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Common Stock Subject to Possible Redemption</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company accounts for
its common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”)
Topic 480 “Distinguishing Liabilities from Equity.” Common stock subject to mandatory redemption is classified as a
liability instrument and is measured at fair value. Conditionally redeemable common stock (including common stock that features
redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events
not solely within the Company’s control) is classified as temporary equity. At all other times, common stock is classified
as stockholders’ equity. The Company’s common stock features certain redemption rights that are considered to be outside
of the Company’s control and subject to occurrence of uncertain future events. Accordingly, common stock subject to possible
redemption is presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s
balance sheets. At December 31, 2020, there are no shares of common stock subject to possible redemption.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Income Taxes</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company complies with
the accounting and reporting requirements of ASC Topic 740 “Income Taxes,” which requires an asset and liability approach
to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences
between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts,
based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation
allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">ASC Topic 740 prescribes
a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken
or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be
sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized
tax benefits as income tax expense. As of December 31, 2020 and 2019, there were no unrecognized tax benefits and no amounts accrued
for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments,
accruals or material deviation from its position. </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Company may be subject
to potential examination by federal, state and city taxing authorities in the areas of income taxes. These potential examinations
may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance
with federal, state and city tax laws. The Company’s management does not expect that the total amount of unrecognized tax
benefits will materially change over the next twelve months.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">On March 27, 2020, the
CARES Act was enacted in response to COVID-19 pandemic. Under ASC 740, the effects of changes in tax rates and laws are recognized
in the period which the new legislation is enacted. The CARES Act made various tax law changes including among other things (i)
increasing the limitation under Section 163(j) of the Internal Revenue Code of 1986, as amended (the “IRC”) for 2019
and 2020 to permit additional expensing of interest (ii) enacting a technical correction so that qualified improvement property
can be immediately expensed under IRC Section 168(k), (iii) making modifications to the federal net operating loss rules including
permitting federal net operating losses incurred in 2018, 2019, and 2020 to be carried back to the five preceding taxable years
in order to generate a refund of previously paid income taxes and (iv) enhancing the recoverability of alternative minimum tax
credits. Given the Company’s full valuation allowance position, the CARES Act did not have
an impact on the financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Net Income (Loss) Per Common Share </i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 40pt; text-align: justify">Net income (loss) per share is computed by dividing
net income by the weighted-average number of shares of common stock outstanding during the period, excluding shares of common stock
subject to forfeiture. The Company has not considered the effect of (1) warrants sold in the Initial Public Offering and private
placement to purchase 3,586,250 shares of common stock, (2) rights sold in the Initial Public Offering and private placement that
convert into 717,250 shares of common stock and (3) 600,000 shares of common stock, warrants to purchase 300,000 shares of common
stock and rights that convert into 60,000 shares of common stock in the unit purchase option sold to the underwriter, in the calculation
of diluted (loss) income per share, since the exercise of the warrants are contingent upon the occurrence of future events and
the inclusion of such warrants would be anti-dilutive.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify">The Company’s consolidated statements
of operations include a presentation of income (loss) per share for common shares subject to possible redemption in a manner similar
to the two-class method of income (loss) per share. Net income (loss) per common share, basic and diluted, for Common stock subject
to possible redemption is calculated by dividing the proportionate share of income or loss on marketable securities held by the
Trust Account, net of applicable franchise and income taxes, by the weighted average number of shares of Common stock subject to
possible redemption outstanding since original issuance.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify">Net income (loss) per share, basic
and diluted, for non-redeemable common stock is calculated by dividing the net income (loss), adjusted for income or loss on marketable
securities attributable to Common stock subject to possible redemption, by the weighted average number of non-redeemable common
stock outstanding for the period.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify">Non-redeemable common stock includes
Founder Shares and non-redeemable shares of common stock as these shares do not have any redemption features. Non-redeemable common
stock participates in the income or loss on marketable securities based on non-redeemable shares’ proportionate interest.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 40pt; text-align: justify">The following table reflects the calculation
of basic and diluted net income (loss) per common share (in dollars, except per share amounts): </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold"> </td>
<td colspan="7" style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">Year Ended December 31,</td></tr>
<tr style="vertical-align: bottom">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">2020</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-style: italic; text-align: left">Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Numerator: Earnings allocable to Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; width: 56%; font-size: 8pt; text-align: left; text-indent: 10pt">Interest earned on marketable securities held in Trust Account</td><td style="text-indent: 0pt; padding-left: 0pt; width: 8%; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; width: 12%; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; width: 8%; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; width: 12%; font-size: 8pt; text-align: right">922,211</td><td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Less: interest available to be withdrawn for payment of taxes</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(218,317</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 30pt">Net income attributable</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">703,894</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Denominator: Weighted Average Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">546,586</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">4,555,229</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted net income per share, Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">0.00</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">0.15</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-style: italic; text-align: left">Non-Redeemable Common Stock</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Numerator: Net Loss minus Net Earnings</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; text-indent: 10pt">Net loss</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(1,089,510</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(1,594</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Net income allocable to Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 30pt">Non-Redeemable Net Loss</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(1,089,510</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(1,594</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Denominator: Weighted Average Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted weighted average shares outstanding, Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">2,736,258</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">2,783,021</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted net loss per share, Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(0.40</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(0.11</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"><b>  </b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i>Concentration of Credit Risk</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i> </i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Financial instruments
that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which,
at times may exceed the Federal depository insurance coverage limit of $250,000. The Company has not experienced losses on this
account and management believes the Company is not exposed to significant risks on such account.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>Derivative
Financial Instruments</i></b></font></p>
<p style="font: 7.5pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The
Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify
as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments
that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and
is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification
of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at
the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on
whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>Recently
I</i></b></font><b><i>ssued Accounting Standards</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Management does not believe
that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the
Company’s consolidated financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Pursuant to the Initial
Public Offering, the Company sold 6,900,000 Units at a purchase price of $10.00 per Unit, which includes the full exercise by the
underwriters of their over-allotment option of 900,000 Units at $10.00 per Unit. Each Unit consists of one share of common stock,
one Public Right and one Public Warrant. Each Public Right will convert into one-tenth (1/10) of one share of common stock upon
consummation of a Business Combination (see Note 9). Each whole Public Warrant entitles the holder to purchase one share of common
stock at an exercise price of $11.50 per whole share (see Note 9).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">Simultaneously with the
Initial Public Offering, the Sponsor purchased 250,000 Private Placement Units, at $10.00 per Private Placement Unit, for an aggregate
purchase price of $2,500,000. On November 29, 2017, the Company consummated the sale of an additional 22,500 Private Placement
Units at a price of $10.00 per unit, which were purchased by the Sponsor, generating gross proceeds of $225,000. Each Private Placement
Unit consists of one share of common stock (“Placement Share”), one right (“Placement Right”) and one-half
of one warrant (each, a “Placement Warrant”), each whole Placement Warrant exercisable to purchase one share of common
stock at an exercise price of $11.50. The proceeds from the Private Placement Units were added to the proceeds from the Initial
Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period,
the proceeds from the sale of the Private Placement Units will be used to fund the redemption of the Public Shares (subject to
the requirements of applicable law), and the Placement Rights and the Placement Warrants will expire worthless.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The Private Placement Units
are identical to the Units sold in the Initial Public Offering except that the Placement Warrants (i) are not redeemable by the
Company and (ii) may be exercised for cash or on a cashless basis, so long as they are held by the initial purchaser or any of
its permitted transferees. In addition, the Private Placement Units and their component securities may not be transferable, assignable
or salable until after the consummation of a Business Combination, subject to certain limited exceptions. If the Placement Warrants
are held by someone other than the initial purchasers or their permitted transferees, the Placement Warrants will be redeemable
by the Company and exercisable by such holders on the same basis as the Public Warrants.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="color: Black"><b><i>Founder
Shares</i></b></font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"><font style="color: Black"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><font style="color: Black">In
September 2017, the Company issued an aggregate of 1,437,500 shares of common stock to the Sponsor (the “Founder Shares”)
for an aggregate purchase price of $25,000. On November 20, 2017, the Company effectuated a 1.2-for-1 stock dividend of its common
stock resulting in an aggregate of 1,725,000 Founder Shares outstanding. The Founder Shares included an aggregate of up to 225,000
shares subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment was not exercised in full
or in part, so that the Initial Stockholders would own 20% of the Company’s issued and outstanding shares after the Initial
Public Offering (excluding the Private Placement Units and the Representative Shares (as defined in Note 9)). As a result of the
underwriters’ election to fully exercise their over-allotment option, 225,000 Founder Shares are no longer subject to forfeiture.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"><font style="color: Black"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><font style="color: Black">The
Initial Stockholders have agreed not to transfer, assign or sell any of the Founder’s Shares until the earlier of (i) one
year after the date of the consummation of a Business Combination, or (ii) with respect to 50% of the Founder Shares, the date
on which the closing price of the Company’s common stock equals or exceeds $12.50 per share (as adjusted for stock splits,
stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after
a Business Combination, or earlier, in each case, if subsequent to a Business Combination, the Company consummates a subsequent
liquidation, merger, stock exchange, reorganization or other similar transaction which results in all of the Company’s stockholders
having the right to exchange their common stock for cash, securities or other property.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"><font style="color: Black">   </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><font style="color: Black"><b><i>Related
Party Loans</i></b></font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"><font style="color: Black"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><font style="color: Black">In
order to finance transaction costs in connection with a Business Combination, the Sponsor, an affiliate of the Sponsor, or the
Company’s officers and directors may, but are not obligated to, loan the Company funds from time to time or at any time,
as may be required (“Working Capital Loans”). Each Working Capital Loan would be evidenced by a promissory note. The
Working Capital Loans would either be paid upon consummation of a Business Combination, without interest, or, at the holder’s
discretion, up to $1,500,000 of the Working Capital Loans may be converted into units at a price of $10.00 per unit. The units
would be identical to the Private Placement Units. In the event that a Business Combination does not close, the loans will be
forgiven. There were no outstanding Working Capital Loans at December 31, 2020 and 2019.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><font style="color: Black"><b> </b></font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On November 17, 2018, the
Company entered into an Extension Funding Agreement with the Sponsor and BRAC. Pursuant to the Extension Funding Agreement, the
Sponsor transferred an aggregate of 1,500,000 Founders Shares to BRAC in exchange for the agreements set forth below and aggregate
cash consideration of $1.00.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Pursuant to the Extension
Funding Agreement, the Sponsor agreed to extend the period of time the Company has to consummate a Business Combination up to two
times for an aggregate of up to six months and BRAC agreed to loan the Company the funds necessary to obtain the extensions (the
“Extensions”). On November 20, 2018 and February 21, 2019, the Company issued unsecured promissory notes (the “Initial
Notes”) in favor of BRAC, in the original principal amount of $690,000 each (or an aggregate of $1,380,000), to provide the
Company the funds necessary to obtain an aggregate of six-months of Extensions. Pursuant to the Extension Funding Agreement, BRAC
has also agreed to loan the Company all funds necessary to pay expenses incurred in connection with and in order to consummate
a Business Combination (the “Business Combination Expenses”) and such loans will be added to the Initial Notes.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">In connection with the
stockholders’ approval of the extended date of August 22, 2019, the Company issued another unsecured promissory note (the
“Second Note”) in favor of BRAC in order to pay for part of the third extension payment in the original principal amount
of $6,814.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On December 31, 2019, the
Company issued an unsecured promissory note, as amended on March 31, 2020, June 30,2020 and September 30, 2020, (the “Third
Note” and, together with the Initial Notes and the Second Note, the “Extension Notes”) in favor of BRAC in the
aggregate principal amount of $317,547 in order to pay for part of the extension payments. Through December 31, 2020, BRAC loaned
the Company an aggregate of $423,075, of which $141,299 was loaned during the year ended December 31, 2020 to pay for part of the
extension payments through December 23, 2020 and $32,967 was loaned during the year ended December 31, 2020 to pay for extension
related costs and $100,000 was loaned during the year ended December 31, 2020 for working capital purposes.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">If the Company does not
consummate a Business Combination, all outstanding loans under the Extension Notes will be forgiven, except to the extent of any
funds held outside of the Trust Account after paying all other fees and expenses of the Company incurred prior to the date of such
failure to consummate a Business Combination.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">As of December 31, 2020,
the outstanding balance under the Extension Notes amounted to an aggregate of approximately $1,809,889.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Sponsor has agreed
to be responsible for all liabilities of the Company effective November 17, 2018, except for liabilities associated with the possible
redemption of shares by the Company’s shareholders, as described in the Company’s Amended and Restated Certificate
of Incorporation. The Sponsor has also agreed to loan the Company the funds necessary to pay the expenses of the Company other
than the Business Combination Expenses through the closing of a Business Combination when and as needed in order for the Company
to continue in operation (the “Non-Business Combination Related Expenses”). Upon consummation of a Business Combination,
up to $200,000 of the Non-Business Combination Related Expenses will be repaid by the Company to the Sponsor provided that the
Company has funds available to it sufficient to repay such expenses (the “Cap”) as well as to pay for all stockholder
redemptions, all Business Combination Expenses, repayment of the Extension Notes, and any funds necessary for the working capital
requirements of the Company following closing of the Business Combination. Any remaining amounts in excess of the Cap will be forgiven.
On December 31, 2019, the Company issued an unsecured promissory note to the Sponsor, as amended on March 31, 2020, June 30, 2020
and September 30, 2020, in the principal amount of approximately $862,148 to pay for Non-Business Combination Related Expenses
incurred through December 31, 2020 and expenses incurred thereafter. If the Company does not consummate a Business Combination,
all outstanding loans made by the Sponsor to cover the Non-Business Combination Related Expenses will be forgiven, except as set
forth above. The Company repaid $35,000 of such loans during the year ended December 31, 2020.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Through December 31, 2020,
AZ Property Partners loaned the Company an aggregate of $862,148, of which $141,299 was loaned during the year ended December 31,
2020 to pay for part of the extension payments through December 23, 2020 and $339,708 was loaned during the year ended December
31, 2020 to pay for Non-Business Combination Related Expenses.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">As of December 31, 2020,
the outstanding balance under promissory note with AZ Property Partners amounted to $862,148.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i>Forgiveness of Debt</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i> </i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">During the year ended December
31, 2020, one of the Company’s service providers forgave certain amounts due to them in connection with previously provided
services. As a result, the Company recorded a forgiveness of debt in the amount of $352,071.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i>Registration Rights</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Pursuant to a registration
rights agreement entered into on November 20, 2017, the holders of the Company’s common stock prior to the Initial Public
Offering (the “Founder Shares”), Private Placement Units (and their underlying securities), the shares issued to EarlyBirdCapital
at the closing of the Initial Public Offering (the “Representative Shares”) and any Units that may be issued upon conversion
of the working capital loans (and their underlying securities) are entitled to registration rights. The holders of a majority of
these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities.
The holders of the majority of the Founder’s Shares can elect to exercise these registration rights at any time commencing
three months prior to the date on which these shares of common stock are to be released from escrow. The holders of a majority
of the Private Placement Units or Units issued to the Sponsor, officers, directors or their affiliates in payment of working capital
loans made to the Company (in each case, including the underlying securities) can elect to exercise these registration rights at
any time after the Company consummates a Business Combination. In addition, the holders will have certain “piggy-back”
registration rights with respect to registration statements filed subsequent to the completion of a Business Combination and rights
to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act of 1933, as amended
(the “Securities Act”). Notwithstanding anything to the contrary, EarlyBirdCapital and its designees may participate
in a “piggy-back” registration during the seven-year period beginning on the effective date of the registration statement.
However, the registration rights agreement will provide that the Company will not permit any registration statement filed under
the Securities Act to become effective until termination of the applicable lock-up period. The Company will bear the expenses incurred
in connection with the filing of any such registration statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i>Business Combination Marketing Agreement</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company has engaged
EarlyBirdCapital as an advisor in connection with a Business Combination to assist the Company in holding meetings with its stockholders
to discuss a potential Business Combination and the target business’ attributes, introduce the Company to potential investors
that are interested in purchasing securities, assist the Company in obtaining stockholder approval for the Business Combination
and assist the Company with its press releases and public filings in connection with a Business Combination. The Company will pay
EarlyBirdCapital a cash fee for such services upon the consummation of a Business Combination in an amount equal to 4.0% of the
gross proceeds of the Initial Public Offering (exclusive of any applicable finders’ fees which might become payable). If
a Business Combination is not consummated for any reason, no fee will be due or payable.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i>Merger Agreement</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b> </b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On December 13, 2020, the
Company, NeuroRx and Merger Sub, entered into an Agreement and Plan of Merger (“Merger Agreement”). Pursuant to the
Merger Agreement, Merger Sub will merge with and into NeuroRx, with NeuroRx surviving the merger (“Merger”). As a result
of the Merger, and upon consummation of the Merger and the other transactions contemplated by the Merger Agreement (“Transactions”),
NeuroRx will become a wholly-owned subsidiary of the Company, with the stockholders of NeuroRx becoming stockholders of the Company.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Pursuant to the Merger
Agreement, the aggregate consideration payable to the stockholders of NeuroRx at the effective time of the Merger (the “Effective
Time”) will equal 50,000,000 shares (“Closing Consideration”) of the Company’s common stock, par value
$0.001 per share (“Company Common Stock”), plus the additional contingent right to receive the Earnout Shares and Earnout
Cash (each as defined below). At the Effective Time, each outstanding share of NeuroRx common stock (including shares of NeuroRx
common stock resulting from the conversion of NeuroRx preferred stock immediately prior to the Effective Time) will be converted
into the right to receive a pro rata portion of the Closing Consideration and the contingent right to receive a pro rata portion
of the Earnout Shares and Earnout Cash. Each option and warrant of NeuroRx that is outstanding and unexercised immediately prior
to the Effective Time will be assumed by the Company and will represent the right to acquire an adjusted number of shares of the
Company Common Stock at an adjusted exercise price, in each case, pursuant to the terms of the Merger Agreement.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">As part of the aggregate
consideration payable to NeuroRx’s securityholders pursuant to the terms of the Merger Agreement, NeuroRx’s securityholders
(including option holders and warrant holders) who own NeuroRx securities immediately prior to the closing of the Transactions
will have the contingent right to receive their pro rata portion of (i) an aggregate of 25,000,000 shares of the Company Common
Stock (“Earnout Shares”) if, prior to December 31, 2022, the NeuroRx COVID-19 Drug receives emergency use authorization
by the Food and Drug Administration (“FDA”) and NeuroRx submits and the FDA files for review a new drug application
for the NeuroRx COVID-19 Drug (the occurrence of the foregoing, the “Earnout Shares Milestone”), and (ii) an aggregate
of $100,000,000 in cash (“Earnout Cash”) upon the earlier to occur of (x) FDA approval of the NeuroRx COVID-19 Drug
and the listing of the NeuroRx COVID-19 Drug in the FDA’s “Orange Book” and (y) FDA approval of the NeuroRx Antidepressant
Drug Regimen and the listing of the NeuroRx Antidepressant Drug Regimen in the FDA’s “Orange Book,” in each case
prior to December 31, 2022 (the occurrence of either of clauses (x) or (y), the “Earnout Cash Milestone”).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b> </b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Merger Agreement contains
customary representations, warranties and covenants by the parties thereto and the closing is subject to certain conditions as
further described in the Merger Agreement.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><b><i>Preferred Stock</i></b>
— The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.001 per share with such designation,
rights and preferences as may be determined from time to time by the Company’s Board of Directors. At December 31, 2020 and
2019, there were no shares of preferred stock issued or outstanding.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><b><i>Common Stock</i></b>
— The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001 per share. Holders of
the Company’s common stock are entitled to one vote for each share. At December 31, 2020 and 2019, there were 2,688,242 and
2,844,414 shares of common stock issued and outstanding, respectively (excluding -0- and 2,305,335 shares of common stock subject
to possible redemption, respectively).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><b><i>Rights</i></b> —
Each holder of a right will receive one-tenth (1/10) of one share of common stock upon consummation of a Business Combination,
even if the holder of such right redeemed all shares held by it in connection with a Business Combination. No fractional shares
will be issued upon conversion of the rights. No additional consideration will be required to be paid by a holder of rights in
order to receive its additional shares upon consummation of a Business Combination, as the consideration related thereto has been
included in the Unit purchase price paid for by investors in the Initial Public Offering. If the Company enters into a definitive
agreement for a Business Combination in which the Company will not be the surviving entity, the definitive agreement will provide
for the holders of rights to receive the same per share consideration the holders of the common stock will receive in the transaction
on an as-converted into common stock basis and each holder of a right will be required to affirmatively convert its rights in order
to receive 1/10 share underlying each right (without paying additional consideration). The shares issuable upon conversion of the
rights will be freely tradable (except to the extent held by affiliates of the Company).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">If the Company is unable
to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account,
holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from
the Company’s assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless.
Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of
a Business Combination. Additionally, in no event will the Company be required to net cash settle the rights. Accordingly, holders
of the rights might not receive the shares of common stock underlying the rights.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i>Representative Shares</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i> </i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">At the closing of the Initial
Public Offering, the Company issued EarlyBirdCapital and its designees 120,000 Representative Shares. On November 29, 2017, the
Company issued an additional 18,000 Representative Shares for no consideration. The Company accounted for the Representative Shares
as an expense of the Initial Public Offering resulting in a charge directly to stockholders’ equity. The Company determined
the fair value of Representative Shares to be $1,380,000 based upon the offering price of the Units of $10.00 per Unit. The underwriter
has agreed not to transfer, assign or sell any such shares until the completion of a Business Combination. In addition, the underwriter
and its designees have agreed (i) to waive their redemption rights with respect to such shares in connection with the completion
of a Business Combination and (ii) to waive their rights to liquidating distributions from the Trust Account with respect to such
shares if the Company fails to complete a Business Combination within the Combination Period.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><b><i>Unit Purchase Option</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On November 22, 2017, the
Company sold to EarlyBirdCapital, for $100, an option to purchase up to 600,000 Units exercisable at $10.00 per Unit (or an aggregate
exercise price of $6,000,000) commencing on the later of November 20, 2018 or the consummation of a Business Combination. The unit
purchase option may be exercised for cash or on a cashless basis, at the holder’s option, and expires five years from November
20, 2017. The Units issuable upon exercise of this option are identical to those offered in the Initial Public Offering. The Company
accounted for the unit purchase option, inclusive of the receipt of $100 cash payment, as an expense of the Initial Public Offering
resulting in a charge directly to stockholders’ equity. The Company estimated the fair value of this unit purchase option
to be $2,042,889 (or $3.40 per Unit) using the Black-Scholes option-pricing model. The fair value of the unit purchase option granted
to the underwriters was estimated as of the date of grant using the following assumptions: (1) expected volatility of 35%, (2)
risk-free interest rate of 2.05% and (3) expected life of five years. The option and such units purchased pursuant to the option,
as well as the common stock underlying such units, the rights included in such units, the common stock that is issuable for the
rights included in such units, the warrants included in such units, and the shares underlying such warrants, have been deemed compensation
by FINRA and are therefore subject to a 180-day lock-up pursuant to Rule 5110(g)(1) of FINRA’s NASDAQ Conduct Rules. Additionally,
the option may not be sold, transferred, assigned, pledged or hypothecated for a one-year period (including the foregoing 180-day
period) following the date of Initial Public Offering except to any underwriter and selected dealer participating in the Initial
Public Offering and their bona fide officers or partners. The option grants to holders demand and “piggy back” rights
for periods of five and seven years, respectively, from the effective date of the registration statement with respect to the registration
under the Securities Act of the securities directly and indirectly issuable upon exercise of the option. The Company will bear
all fees and expenses attendant to registering the securities, other than underwriting commissions which will be paid for by the
holders themselves. The exercise price and number of units issuable upon exercise of the option may be adjusted in certain circumstances
including in the event of a stock dividend, or the Company’s recapitalization, reorganization, merger or consolidation. However,
the option will not be adjusted for issuances of common stock at a price below its exercise price.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt">The Company’s net deferred tax assets
are as follows:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 60pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="7" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">Deferred tax assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 56%; font-size: 8pt; text-align: left; text-indent: 0pt; padding-left: 10pt">Net operating loss carryforward</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">105,559</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">—  </td><td style="width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 10pt">Unrealized gain on marketable securities</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">Total deferred tax assets</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">105,559</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt">Valuation Allowance</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(105,559</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 0pt">Deferred tax assets, net valuation allowance</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The income tax provision
consists of the following:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="7" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">As of December 31,</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2019</td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 8pt">Federal</td><td> </td>
<td colspan="3"> </td><td> </td>
<td colspan="3" style="text-align: right"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 56%; font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Current</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">17,841</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">102,332</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Deferred</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(87,480</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">2,936</td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">State and Local</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Current</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Deferred</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(18,079</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 10pt"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt">Change in valuation allowance</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">105,559</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(21,062</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 0pt">Income tax provision</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">17,841</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">84,206</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 60pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">As of December 31, 2020
and 2019, the Company had $416,571 and $-0- of U.S. federal and state net operating loss carryovers available to offset future
taxable income, respectively which carryforward indefinitely.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">In assessing the realization
of the deferred tax assets, management considers whether it is more likely than not that some portion of all of the deferred tax
assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable
income during the periods in which temporary differences representing net future deductible amounts become deductible. Management
considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making
this assessment. <font style="color: #231F20">After consideration of all of the information available, management believes that
significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full
valuation allowance. For the year ended December 31, 2020 and 2019, the change in the valuation allowance was $105,559 and $21,062.
</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt">A reconciliation of the federal income tax rate
to the Company’s effective tax rate is as follows:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 60pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31, 2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31, 2019</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td> </td>
<td colspan="3"> </td><td> </td>
<td colspan="3" style="text-align: right"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 56%; font-size: 8pt; text-align: left; text-indent: 0pt">Statutory federal income tax rate</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 12%; font-size: 8pt; text-align: right">21.0</td><td style="width: 1%; font-size: 8pt; text-align: left">%</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 12%; font-size: 8pt; text-align: right">21.0</td><td style="width: 1%; font-size: 8pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">State taxes, net of federal tax benefit</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">4.3</td><td style="font-size: 8pt; text-align: left">%</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">0.0</td><td style="font-size: 8pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-indent: 0pt">True-ups</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1.7</td><td style="font-size: 8pt; text-align: left">)%</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">0.4</td><td style="font-size: 8pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-indent: 0pt">Change in FV of warrant liabilities </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> (15.5</td><td style="font-size: 8pt; text-align: left">)% </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> 0.0</td><td style="font-size: 8pt; text-align: left">% </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt">Valuation allowance</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(9.9</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)%</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(4.3</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 0pt">Income tax provision</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">(1.7</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">)%</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">17.1</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">%</td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 60pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company files income
tax returns in the U.S. federal jurisdiction and is subject to examination by the various taxing authorities. The Company's tax
returns since inception remain open to examination by the taxing authorities.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The following table presents
information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December
31, 2020 and 2019, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair
value:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt; text-align: justify">  </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: justify">Description</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Level</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,<br /> 2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,<br /> 2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt">Assets:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 46%; font-size: 8pt; text-align: justify; text-indent: 10pt">Cash and marketable securities held in Trust Account</td><td style="width: 5%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 11%; font-size: 8pt; text-align: center">1</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 5%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 11%; font-size: 8pt; text-align: right">5,967,947</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 5%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 11%; font-size: 8pt; text-align: right">32,005,205</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: center"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt">Liabilities:</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: center"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt">Warrant Liability - Private Placement Warrants </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: center">3 </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left">$ </td><td style="font-size: 8pt; text-align: right"> 655,098</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left">$ </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The Company utilizes a Black-Scholes model approach
to value the Placement Warrants at each reporting period, with changes in fair value recognized in the Statements of Operations.
The estimated fair value of the warrant liability is determined using Level 3 inputs. Inherent in a binomial options pricing model
are assumptions related to expected share-price volatility, expected life, risk-free interest rate and dividend yield. The Company
estimates the volatility of its common stock based on historical volatility that matches the expected remaining life of the warrants.
The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the
expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual
term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The significant unobservable inputs used in
the Black-Scholes model to measure the warrant liabilities that are categorized within Level 3 of the fair value hierarchy are
as follows:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>As of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31, 2020</b></p></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 70%">Stock price</td><td style="width: 10%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">24.50</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Strike price</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">11.50</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Term (in years)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5.0</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Volatility</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">25.0</td><td style="text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Risk-free rate</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.4</td><td style="text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Dividend yield</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.0</td><td style="text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Fair value of private warrants</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">4.81</td><td style="text-align: left"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The following table provides a summary of the
changes in fair value of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Warrant Liability</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt">Fair value as of December 31, 2019</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 70%; font-size: 8pt; text-align: left; padding-bottom: 1pt">Change in valuation inputs or other assumptions</td><td style="width: 10%; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 18%; font-size: 8pt; text-align: right">655,098</td><td style="width: 1%; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; padding-bottom: 2.5pt">Fair value as of December 31, 2020</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">655,098</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">There were no transfers between Levels 1, 2
or 3 during the year ended December 31, 2020.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company evaluates
subsequent events and transactions that occur after the consolidated balance sheet date up to the date that the financial
statements were issued. Based upon this review, other than as described below and in Note 2, the Company did not identify any
subsequent events that would have required adjustment or disclosure in the financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"><i>Nasdaq Compliance</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On January 15, 2021, the
Company received notice from the Nasdaq that a Nasdaq Hearings Panel (“Panel”) had granted the Company’s request
to continue its listing on Nasdaq through May 24, 2021 (“Extended Date”).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On January 4, 2021, the
Company received a notice from the Staff stating that the Company’s failure to hold an annual stockholder meeting for the
fiscal year ended December 31, 2019 by December 31, 2020, as required by Nasdaq Listing Rule 5820, could serve as an additional
basis for delisting the Company’s securities from Nasdaq. The Company requested a hearing before the Panel to appeal the
Staff’s determination with respect to both notices and the hearing was held on January 14, 2021. The Panel’s decision
is subject to certain conditions, including that the Company will have completed its proposed business combination (the “Business
Combination”) with NeuroRx on or before the Extended Date and that the combined company will have demonstrated compliance
with all requirements for initial listing on Nasdaq. While the Company expects to complete the Business Combination by the Extended
Date, the Company cannot assure you that it will be able to do so.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"><i>Subscription Agreement</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On March 12, 2021, the
Company entered into subscription agreements (“Subscription Agreements”) with certain qualified institutional buyers
and institutional accredited investors (collectively, the “PIPE Investors”), pursuant to which the Company will, substantially
concurrently with, and contingent upon, the consummation of the Merger, issue an aggregate of 1,000,000 shares of the Company Common
Stock, par value $0.001 per share, to the PIPE Investors at a price of $10.00 per share, for aggregate gross proceeds to the Company
of $10,000,000 (the “PIPE”). The closing of the PIPE is conditioned upon, among other things, (i) the substantially
concurrent consummation of the Merger, (ii) the accuracy of all representations and warranties of the Company and the PIPE
Investors in the Subscription Agreements, and the performance of all covenants of the Company and the PIPE Investors under the
Subscription Agreements, (iii) the shares of the Company Common Stock shall have been approved for listing on the Nasdaq Capital
Market, subject to official notice of issuance, and (iv) the Merger Agreement shall not have been terminated or rescinded, and
no amendment, waiver or modification shall have occurred thereunder that would materially adversely affect the economic benefits
that the PIPE Investor would reasonably expect to receive under the Subscription Agreement without having received the PIPE Investor’s
prior written consent (not to be unreasonably withheld, conditioned, or delayed).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"><i>Amendment to the Merger Agreement</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On March 19, 2021, the
Company entered into a second amendment (“Amendment”) to the Merger Agreement with NeuroRx and Merger Sub. The Amendment
extends the outside date by which the parties must consummate the Merger from April 23, 2021 to May 24, 2021.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0pt"><i>Legal Proceedings</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0pt"><i> </i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">In connection with the proposed
Merger with NeuroRx, a purported stockholder of the Company has filed a lawsuit and other purported stockholders have threatened
to file lawsuits alleging breaches of fiduciary duty and violations of the disclosure requirements of the Exchange Act. The Company
intends to defend the matters vigorously. These matters are in the early stages and the Company is currently unable to reasonably
determine the outcome or estimate any potential losses, and, as such, has not recorded a loss contingency. </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0pt"><i> </i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0pt"><i> </i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The accompanying consolidated
financial statements are presented in conformity with accounting principles generally accepted in the United States of America
(“GAAP”) and pursuant to the rules and regulations of the SEC.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The accompanying consolidated
financial statements include the accounts of the Company and its majority owned subsidiary where the Company has the ability to
exercise control. All significant intercompany balances and transactions have been eliminated in consolidation. Activities in relation
to the noncontrolling interest are not considered to be significant and are, therefore, not presented in the accompanying consolidated
financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company is an “emerging
growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act
of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that
are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required
to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding
advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Further, Section 102(b)(1)
of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards
until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not
have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements
that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt
out of such extended transition period which means that when a standard is issued or revised and it has different application dates
for public or private companies, the Company, as an emerging growth company, will adopt the new or revised standard at the time
private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements
with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using
the extended transition period difficult or impossible because of the potential differences in accounting standards used.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The preparation of consolidated
financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 60pt">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Making estimates requires
management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition,
situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating
its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could
differ significantly from the Company’s estimates.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company considers all
short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did
not have any cash equivalents as of December 31, 2020 and 2019.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">At December 31, 2020 and
2019, the assets held in the Trust Account were held in money market funds, which are invested in U.S. Treasury securities. Through
December 31, 2020, the Company has withdrawn $716,788 of interest from the Trust Account in order to pay its franchise and income
taxes, of which $161,430 was withdrawn during the year ended December 31, 2020.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company accounts for
its common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”)
Topic 480 “Distinguishing Liabilities from Equity.” Common stock subject to mandatory redemption is classified as a
liability instrument and is measured at fair value. Conditionally redeemable common stock (including common stock that features
redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events
not solely within the Company’s control) is classified as temporary equity. At all other times, common stock is classified
as stockholders’ equity. The Company’s common stock features certain redemption rights that are considered to be outside
of the Company’s control and subject to occurrence of uncertain future events. Accordingly, common stock subject to possible
redemption is presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s
balance sheets. At December 31, 2020, there are no shares of common stock subject to possible redemption.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company complies with
the accounting and reporting requirements of ASC Topic 740 “Income Taxes,” which requires an asset and liability approach
to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences
between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts,
based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation
allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">ASC Topic 740 prescribes
a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken
or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be
sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized
tax benefits as income tax expense. As of December 31, 2020 and 2019, there were no unrecognized tax benefits and no amounts accrued
for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments,
accruals or material deviation from its position. </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company may be subject
to potential examination by federal, state and city taxing authorities in the areas of income taxes. These potential examinations
may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions and compliance
with federal, state and city tax laws. The Company’s management does not expect that the total amount of unrecognized tax
benefits will materially change over the next twelve months.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">On March 27, 2020, the
CARES Act was enacted in response to COVID-19 pandemic. Under ASC 740, the effects of changes in tax rates and laws are recognized
in the period which the new legislation is enacted. The CARES Act made various tax law changes including among other things (i)
increasing the limitation under Section 163(j) of the Internal Revenue Code of 1986, as amended (the “IRC”) for 2019
and 2020 to permit additional expensing of interest (ii) enacting a technical correction so that qualified improvement property
can be immediately expensed under IRC Section 168(k), (iii) making modifications to the federal net operating loss rules including
permitting federal net operating losses incurred in 2018, 2019, and 2020 to be carried back to the five preceding taxable years
in order to generate a refund of previously paid income taxes and (iv) enhancing the recoverability of alternative minimum tax
credits. Given the Company’s full valuation allowance position, the CARES Act did not have
an impact on the financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify">  </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Financial instruments that
potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at
times may exceed the Federal depository insurance coverage limit of $250,000. The Company has not experienced losses on this account
and management believes the Company is not exposed to significant risks on such account.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">Management does not believe
that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the
Company’s consolidated financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="7" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">Deferred tax assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 56%; font-size: 8pt; text-align: left; text-indent: 0pt; padding-left: 10pt">Net operating loss carryforward</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">105,559</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">—  </td><td style="width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 10pt">Unrealized gain on marketable securities</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">Total deferred tax assets</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">105,559</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt">Valuation Allowance</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(105,559</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 0pt">Deferred tax assets, net valuation allowance</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="7" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">As of December 31,</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2019</td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 8pt">Federal</td><td> </td>
<td colspan="3"> </td><td> </td>
<td colspan="3" style="text-align: right"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 56%; font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Current</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">17,841</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 12%; font-size: 8pt; text-align: right">102,332</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Deferred</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(87,480</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">2,936</td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">State and Local</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Current</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-indent: 0pt; padding-left: 10pt">Deferred</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(18,079</td><td style="font-size: 8pt; text-align: left">)</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 10pt"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt">Change in valuation allowance</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">105,559</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(21,062</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 0pt">Income tax provision</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">17,841</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">84,206</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td></tr>
</table>
-1089510
-1594
0
703894
0
0
0
922211
0
-218317
161430
0
416571
-1089510
-1594
2687912
Big Rock Partners Acquisition Corp. (the “Company”) is filing this Amendment No. 1 on Form 10-K/A (the “Amendment”) to the Annual Report on Form 10-K for the year ended December 31, 2020, originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2021 (the “Original 10-K”) as a comprehensive amendment to amend and restate its financial statements and related footnote disclosures as of December 31, 2020. Accordingly, the following sections of the Original 10-K are being amended and restated hereby: Part I, Item 1A “Risk Factors”, Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, Part II, Item 8 “Financial Statements and Supplementary Data”, Part II, Item 9A “Controls and Procedures” and Part IV, Item 15, “Exhibits and Financial Statement Schedules”. In addition, as required by Rule 12b-15 under the Securities Exchange Act of 1934, as amended (“Exchange Act”), new certifications by our principal executive officer and principal financial officer are being filed as exhibits to this Amendment. As noted above, Part II, Item 8 “Financial Statements and Supplementary Data” of this Amendment reflects the restatement of financial information included in the Company’s Original 10-K filed with the SEC. This Amendment supersedes the financial information included in the Original 10-K. Except as described above, no other changes have been made to the Original 10-K. The Original 10-K continues to speak as of the date of the Original 10-K, and we have not updated the disclosures contained therein to reflect any events which occurred at a date subsequent to the filing of the Original 10-K. Accordingly, this Amendment should be read in conjunction with the Original 10-K and our filings with the SEC subsequent to the date of the Original 10-K.
0
655098
0
655098
655098
0
-655098
0
0
-655098
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company previously accounted for its outstanding
Public Warrants and Private Placement Warrants issued in connection with its Initial Public Offering as
components of equity instead of as derivative liabilities. </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the audit of the Company’s
financial statements for the period ended December 31, 2020, the Company’s management further evaluated the warrants under
Accounting Standards Codification (“ASC”) Subtopic 815-40, Contracts in Entity’s Own Equity.  ASC Section
815-40-15 addresses equity versus liability treatment and classification of equity-linked financial instruments, including warrants,
and states that a warrant may be classified as a component of equity only if, among other things, the warrant is indexed to the
issuer’s common stock.  Under ASC Section 815-40-15, a warrant is not indexed to the issuer’s common stock if
the terms of the warrant require an adjustment to the exercise price upon a specified event and that event is not an input to the
fair value of the warrant.  Based on management’s evaluation, the Company’s audit committee, in consultation with
management and after discussion with the Company’s independent registered public accounting firm, concluded that the Company’s
Private Placement Warrants are not indexed to the Company’s common shares in the manner contemplated by ASC Section 815-40-15
because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result of the above, the Company
should have classified the Private Placement Warrants as derivative liabilities in its previously issued financial
statements. Under this accounting treatment, the Company is required to measure the fair value of the warrants at the end of
each reporting period and recognize changes in the fair value from the prior period in the Company’s operating results
for the current period (See Notes 3 and 10).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s accounting for the Private
Placement Warrants as components of equity instead of as derivative liabilities did not have any effect on the Company’s
previously reported operating expenses, cash flows or cash.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>As Previously Reported</b></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Adjustment</b></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>As Restated</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt"><b>Balance Sheet as of December 31, 2020 (audited)</b></font></td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 64%"><font style="font-size: 8pt">Warrant liability</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 9%; text-align: right"><font style="font-size: 8pt">—  </font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 9%; text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 9%; text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Total liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,281,546</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,936,644</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">(Accumulated deficit)/retained earnings</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(64,917</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(720,015</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Total stockholders’ equity</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,768,859</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,113,761</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt"><b>Statement of Operations for the Year Ended December 31, 2020 (audited)</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Change in fair value of warrant liability</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">—  </font></td>
<td> </td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Other income, net</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">490,835</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(164,263</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">(Loss) income before provision for income taxes</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(416,571</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(1,071,669</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Net (loss) income</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(434,412</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(1,089,510</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Basic and diluted net loss per common share, Non-redeemable common stock</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(0.16</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(0. 24</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(0. 40</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt"><b>Statement of Cash Flows for the Year Ended December 31, 2020 (audited)</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Cash flow from operating activities:</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Net loss</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(434,412</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(1,089,510</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Adjustments to reconcile net loss to net cash and used in operating activities:</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Change in fair value of warrant liability</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">—  </font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Supplemental disclosure of non-cash investing and financing activities:</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">—  </font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>As Previously Reported</b></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Adjustment</b></font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"> </td>
<td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>As Restated</b></font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt"><b>Balance Sheet as of December 31, 2020 (audited)</b></font></td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 64%"><font style="font-size: 8pt">Warrant liability</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 9%; text-align: right"><font style="font-size: 8pt">—  </font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 9%; text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 9%; text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Total liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,281,546</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,936,644</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">(Accumulated deficit)/retained earnings</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(64,917</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(720,015</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Total stockholders’ equity</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,768,859</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,113,761</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt"><b>Statement of Operations for the Year Ended December 31, 2020 (audited)</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Change in fair value of warrant liability</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">—  </font></td>
<td> </td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Other income, net</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">490,835</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(164,263</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">(Loss) income before provision for income taxes</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(416,571</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(1,071,669</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Net (loss) income</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(434,412</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(1,089,510</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Basic and diluted net loss per common share, Non-redeemable common stock</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(0.16</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(0. 24</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">(0. 40</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt"><b>Statement of Cash Flows for the Year Ended December 31, 2020 (audited)</b></font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Cash flow from operating activities:</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Net loss</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(434,412</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(655,098</font></td>
<td><font style="font-size: 8pt">)</font></td>
<td> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">(1,089,510</font></td>
<td><font style="font-size: 8pt">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Adjustments to reconcile net loss to net cash and used in operating activities:</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Change in fair value of warrant liability</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">—  </font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><font style="font-size: 8pt">Supplemental disclosure of non-cash investing and financing activities:</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><font style="font-size: 8pt">Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities</font></td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">—  </font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">655,098</font></td>
<td> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The Company accounts for warrants as either
equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable
authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)
480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC
815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the
definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification
under ASC 815, including whether the warrants are indexed to the Company’s own common shares and whether the warrant holders
could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other
conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time
of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">For issued or modified warrants that meet all
of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital
at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants
are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes
in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations. The fair
value of the Private Placement Warrants was estimated using a Black-Scholes valuation approach (see Note 12).</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 40pt; text-align: justify">Net income (loss) per share is computed by dividing
net income by the weighted-average number of shares of common stock outstanding during the period, excluding shares of common stock
subject to forfeiture. The Company has not considered the effect of (1) warrants sold in the Initial Public Offering and private
placement to purchase 3,586,250 shares of common stock, (2) rights sold in the Initial Public Offering and private placement that
convert into 717,250 shares of common stock and (3) 600,000 shares of common stock, warrants to purchase 300,000 shares of common
stock and rights that convert into 60,000 shares of common stock in the unit purchase option sold to the underwriter, in the calculation
of diluted (loss) income per share, since the exercise of the warrants are contingent upon the occurrence of future events and
the inclusion of such warrants would be anti-dilutive.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 40pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify">The Company’s consolidated statements
of operations include a presentation of income (loss) per share for common shares subject to possible redemption in a manner similar
to the two-class method of income (loss) per share. Net income (loss) per common share, basic and diluted, for Common stock subject
to possible redemption is calculated by dividing the proportionate share of income or loss on marketable securities held by the
Trust Account, net of applicable franchise and income taxes, by the weighted average number of shares of Common stock subject to
possible redemption outstanding since original issuance.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify">Net income (loss) per share, basic
and diluted, for non-redeemable common stock is calculated by dividing the net income (loss), adjusted for income or loss on marketable
securities attributable to Common stock subject to possible redemption, by the weighted average number of non-redeemable common
stock outstanding for the period.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify">Non-redeemable common stock includes
Founder Shares and non-redeemable shares of common stock as these shares do not have any redemption features. Non-redeemable common
stock participates in the income or loss on marketable securities based on non-redeemable shares’ proportionate interest.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0.7pt 0 0pt; text-indent: 40pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 40pt; text-align: justify">The following table reflects the calculation
of basic and diluted net income (loss) per common share (in dollars, except per share amounts): </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold"> </td>
<td colspan="7" style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">Year Ended December 31,</td></tr>
<tr style="vertical-align: bottom">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">2020</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-style: italic; text-align: left">Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Numerator: Earnings allocable to Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; width: 56%; font-size: 8pt; text-align: left; text-indent: 10pt">Interest earned on marketable securities held in Trust Account</td><td style="text-indent: 0pt; padding-left: 0pt; width: 8%; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; width: 12%; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; width: 8%; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; width: 12%; font-size: 8pt; text-align: right">922,211</td><td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Less: interest available to be withdrawn for payment of taxes</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(218,317</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 30pt">Net income attributable</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">703,894</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Denominator: Weighted Average Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">546,586</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">4,555,229</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted net income per share, Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">0.00</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">0.15</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-style: italic; text-align: left">Non-Redeemable Common Stock</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Numerator: Net Loss minus Net Earnings</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; text-indent: 10pt">Net loss</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(1,089,510</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(1,594</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Net income allocable to Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 30pt">Non-Redeemable Net Loss</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(1,089,510</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(1,594</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Denominator: Weighted Average Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted weighted average shares outstanding, Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">2,736,258</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">2,783,021</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted net loss per share, Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(0.40</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(0.11</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"><b>  </b></p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold"> </td>
<td colspan="7" style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">Year Ended December 31,</td></tr>
<tr style="vertical-align: bottom">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">2020</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: center">2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-style: italic; text-align: left">Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Numerator: Earnings allocable to Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; width: 56%; font-size: 8pt; text-align: left; text-indent: 10pt">Interest earned on marketable securities held in Trust Account</td><td style="text-indent: 0pt; padding-left: 0pt; width: 8%; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; width: 12%; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; width: 8%; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; width: 12%; font-size: 8pt; text-align: right">922,211</td><td style="text-indent: 0pt; padding-left: 0pt; width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Less: interest available to be withdrawn for payment of taxes</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(218,317</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 30pt">Net income attributable</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">703,894</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Denominator: Weighted Average Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">546,586</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">4,555,229</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted net income per share, Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">0.00</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">0.15</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-style: italic; text-align: left">Non-Redeemable Common Stock</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Numerator: Net Loss minus Net Earnings</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; text-indent: 10pt">Net loss</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(1,089,510</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">$</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">(1,594</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Net income allocable to Common stock subject to possible redemption</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: right">—  </td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 30pt">Non-Redeemable Net Loss</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(1,089,510</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(1,594</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left">Denominator: Weighted Average Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt"> </td>
<td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: right"> </td><td style="text-indent: 0pt; padding-left: 0pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted weighted average shares outstanding, Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">2,736,258</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">2,783,021</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; text-align: left; padding-bottom: 2.5pt">Basic and diluted net loss per share, Non-redeemable common stock</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(0.40</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td><td style="text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-indent: 0pt; padding-left: 0pt; font-size: 8pt; font-weight: bold; text-align: right">(0.11</td><td style="text-indent: 0pt; padding-left: 0pt; padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The
Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify
as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments
that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and
is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification
of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at
the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on
whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">  </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><b><i>Warrants</i></b>
— Public Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of
the Public Warrants. The Public Warrants will become exercisable on the later of the completion of a Business Combination and November
22, 2018; provided in that the Company has an effective registration statement under the Securities Act covering the shares of
common stock issuable upon exercise of the Public Warrants and a current prospectus relating to them is available. The Company
has agreed that as soon as practicable, the Company will use its best efforts to file with the SEC a registration statement for
the registration, under the Securities Act, of the shares of common stock issuable upon exercise of the Public Warrants. The Company
will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement,
and a current prospectus relating thereto, until the expiration of the Public Warrants in accordance with the provisions of the
warrant agreement. Notwithstanding the foregoing, if a registration statement covering the shares of common stock issuable upon
exercise of the Public Warrants is not effective 90 days following the consummation of Business Combination, warrant holders may,
until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain
an effective registration statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9)
of the Securities Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders
will not be able to exercise their warrants on a cashless basis. The Public Warrants will expire five years after the completion
of a Business Combination or earlier upon redemption or liquidation.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The Company may redeem
the Public Warrants:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="text-indent: 0pt; width: 3%; padding-right: 0.8pt"> </td>
<td style="text-indent: 0pt; width: 3%; padding-right: 0.8pt"><font style="font-size: 8pt">●</font></td>
<td style="text-indent: 0pt; width: 94%; padding-right: 0.8pt; text-align: justify"><font style="font-size: 8pt">in whole and not in part;</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0pt; padding-right: 0.8pt"> </td>
<td style="text-indent: 0pt; padding-right: 0.8pt"><font style="font-size: 8pt">●</font></td>
<td style="text-indent: 0pt; padding-right: 0.8pt; text-align: justify"><font style="font-size: 8pt">at a price of $0.01 per warrant;</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0pt; padding-right: 0.8pt"> </td>
<td style="text-indent: 0pt; padding-right: 0.8pt"><font style="font-size: 8pt">●</font></td>
<td style="text-indent: 0pt; padding-right: 0.8pt; text-align: justify"><font style="font-size: 8pt">at any time during the exercise period;</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0pt; padding-right: 0.8pt"> </td>
<td style="text-indent: 0pt; padding-right: 0.8pt"><font style="font-size: 8pt">●</font></td>
<td style="text-indent: 0pt; padding-right: 0.8pt; text-align: justify"><font style="font-size: 8pt">upon a minimum of 30 days’ prior written notice of redemption; and</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0pt; padding-right: 0.8pt"> </td>
<td style="text-indent: 0pt; padding-right: 0.8pt"><font style="font-size: 8pt">●</font></td>
<td style="text-indent: 0pt; padding-right: 0.8pt; text-align: justify"><font style="font-size: 8pt">if, and only if, the last sale price of the Company’s common stock equals or exceeds $21.00 per share for any 20 trading days within a 30-trading day period ending on the third business day prior to the date on which the Company sends the notice of redemption to the warrant holders.</font></td></tr>
<tr style="vertical-align: top">
<td style="text-indent: 0pt; padding-right: 0.8pt"> </td>
<td style="text-indent: 0pt; padding-right: 0.8pt"><font style="font-size: 8pt">●</font></td>
<td style="text-indent: 0pt; padding-right: 0.8pt; text-align: justify"><font style="font-size: 8pt">If, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying such warrants.</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">If the Company calls the
Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants
to do so on a “cashless basis,” as described in the warrant agreement.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0pt"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">The exercise price and number
of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event
of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted
for issuance of common stock at a price below its exercise price. Additionally, in no event will the Company be required to net
cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company
liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants,
nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such
warrants. Accordingly, the warrants may expire worthless.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt"><b> </b></p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31, 2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31, 2019</td></tr>
<tr style="vertical-align: bottom">
<td> </td><td> </td>
<td colspan="3"> </td><td> </td>
<td colspan="3" style="text-align: right"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 56%; font-size: 8pt; text-align: left; text-indent: 0pt">Statutory federal income tax rate</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 12%; font-size: 8pt; text-align: right">21.0</td><td style="width: 1%; font-size: 8pt; text-align: left">%</td><td style="width: 8%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 12%; font-size: 8pt; text-align: right">21.0</td><td style="width: 1%; font-size: 8pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; text-indent: 0pt">State taxes, net of federal tax benefit</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">4.3</td><td style="font-size: 8pt; text-align: left">%</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">0.0</td><td style="font-size: 8pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-indent: 0pt">True-ups</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">(1.7</td><td style="font-size: 8pt; text-align: left">)%</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right">0.4</td><td style="font-size: 8pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-indent: 0pt">Change in FV of warrant liabilities </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> (15.5</td><td style="font-size: 8pt; text-align: left">)% </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> 0.0</td><td style="font-size: 8pt; text-align: left">% </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: left; padding-bottom: 1pt; text-indent: 0pt">Valuation allowance</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(9.9</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)%</td><td style="font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(4.3</td><td style="padding-bottom: 1pt; font-size: 8pt; text-align: left">)%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: left; padding-bottom: 2.5pt; text-indent: 0pt">Income tax provision</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">(1.7</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">)%</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">17.1</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left">%</td></tr>
</table>
-.1550
.0000
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: justify">Description</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Level</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,<br /> 2020</td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,<br /> 2019</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt">Assets:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 46%; font-size: 8pt; text-align: justify; text-indent: 10pt">Cash and marketable securities held in Trust Account</td><td style="width: 5%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 11%; font-size: 8pt; text-align: center">1</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 5%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 11%; font-size: 8pt; text-align: right">5,967,947</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td><td style="width: 5%; font-size: 8pt"> </td>
<td style="width: 1%; font-size: 8pt; text-align: left">$</td><td style="width: 11%; font-size: 8pt; text-align: right">32,005,205</td><td style="width: 1%; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: center"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt">Liabilities:</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: center"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: right"> </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; text-align: justify; text-indent: 10pt">Warrant Liability - Private Placement Warrants </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt; text-align: center">3 </td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left">$ </td><td style="font-size: 8pt; text-align: right"> 655,098</td><td style="font-size: 8pt; text-align: left"> </td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left">$ </td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"> </td><td style="padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>As of</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>December 31, 2020</b></p></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 70%">Stock price</td><td style="width: 10%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">24.50</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Strike price</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">11.50</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Term (in years)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">5.0</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td>Volatility</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">25.0</td><td style="text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Risk-free rate</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.4</td><td style="text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Dividend yield</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.0</td><td style="text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td>Fair value of private warrants</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">4.81</td><td style="text-align: left"> </td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td>
<td colspan="3" style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Warrant Liability</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt">Fair value as of December 31, 2019</td><td style="font-size: 8pt"> </td>
<td style="font-size: 8pt; text-align: left">$</td><td style="font-size: 8pt; text-align: right">—  </td><td style="font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 70%; font-size: 8pt; text-align: left; padding-bottom: 1pt">Change in valuation inputs or other assumptions</td><td style="width: 10%; font-size: 8pt; padding-bottom: 1pt"> </td>
<td style="border-bottom: Black 1pt solid; width: 1%; font-size: 8pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 18%; font-size: 8pt; text-align: right">655,098</td><td style="width: 1%; padding-bottom: 1pt; font-size: 8pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font-size: 8pt; padding-bottom: 2.5pt">Fair value as of December 31, 2020</td><td style="font-size: 8pt; padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right">655,098</td><td style="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"> </td></tr>
</table>
24.50
11.50
4.81
.0000
.0040
.2500
P5Y
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The Company applies ASC 820, <i>Fair Value Measurement</i>
("ASC 820"), which establishes framework for measuring fair value and clarifies the definition of fair value within that
framework. ASC 820 defines fair value as an exit price, which is the price that would be received for an asset or paid to transfer
a liability in the Company’s principal or most advantageous market in an orderly transaction between market participants
on the measurement date. The fair value hierarchy established in ASC 820 generally requires an entity to maximize the use of observable
inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect the assumptions that market
participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent
of the reporting entity. Unobservable inputs reflect the entity’s own assumptions based on market data and the entity’s
judgments about the assumptions that market participants would use in pricing the asset or liability and are to be developed based
on the best information available in the circumstances.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">The valuation hierarchy is composed of three
levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair
value measurement. The levels within the valuation hierarchy are described below:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1 - Assets and liabilities with unadjusted,
quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices
in active markets for identical assets or liabilities.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2 - Inputs to the fair value measurement
are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect
observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3 - Inputs to the fair value measurement
are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the
assets or liabilities.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt; text-align: justify"><b><i></i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify; text-indent: 40pt">The fair value of
the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,”
approximates the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to their short-te<font style="font: 8pt Times New Roman, Times, Serif">rm
nature.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt; text-align: justify">See Note 12 for additional information on assets
and liabilities measured at fair value.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">  </p>