Quarterly report pursuant to sections 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended 86 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (106,000) $ (55,000) $ (902,000)
Changes in operating assets and liabilities:      
Prepaid expenses         
Accounts payable and accrued liabilities 67,000 16,000 512,000
Accrued interest related party       9,000
Accrued franchise taxes 45,000 40,000 311,000
Net cash provided by (used in) operating activities 6,000 1,000 (70,000)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment held in Trust Account       (28,750,000)
Interest reinvested in the Trust Account (6,000) (1,000) (36,000)
Net cash used in investing activities (6,000) (1,000) (28,786,000)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock       28,781,000
Proceeds from note payable and advances - related party       75,000
Net cash provided by financing activities       28,856,000
NET CHANGE IN CASH         
CASH AT THE BEGINNING OF PERIOD    1,000   
CASH AT END OF PERIOD    1,000   
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid during the period for interest    1,000 1,000
NON-CASH SCHEDULE OF INVESTING AND FINANCING ACTIVITIES      
Conversion of notes payable (related party), advances (related party) and accrued interest to notes payable (related party)       120,000
Related party advances paid directly to vendors 67,000 60,000 655,000
Retirement of Treasury Stock       7,000
Related party advances to fund expenses       $ 149,000