2016 Form 10-K Financial Statement
#000114420417015054 Filed on March 16, 2017
Income Statement
Concept | 2016 | 2015 Q4 | 2015 Q1 |
---|---|---|---|
Revenue | $160.2M | $118.2M | $0.00 |
YoY Change | 35.55% | ||
Cost Of Revenue | $67.05M | $52.80M | |
YoY Change | 27.06% | ||
Gross Profit | $93.13M | $65.40M | |
YoY Change | 42.41% | ||
Gross Profit Margin | 58.14% | 55.33% | |
Selling, General & Admin | $109.1M | $74.60M | $0.00 |
YoY Change | 46.41% | ||
% of Gross Profit | 117.2% | 114.07% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $1.783M | $1.450M | |
YoY Change | 22.88% | ||
% of Gross Profit | 1.91% | 2.22% | |
Operating Expenses | $79.20M | $74.50M | $0.00 |
YoY Change | -26.18% | ||
Operating Profit | $13.93M | -$9.100M | -$9.351K |
YoY Change | -133.26% | ||
Interest Expense | -$25.20M | -$900.0K | |
YoY Change | 1226.32% | ||
% of Operating Profit | -180.89% | ||
Other Income/Expense, Net | -$1.786M | -$1.100M | |
YoY Change | 61.78% | ||
Pretax Income | -$11.41M | -$43.90M | $0.00 |
YoY Change | -75.57% | ||
Income Tax | $1.532M | $1.500M | |
% Of Pretax Income | |||
Net Earnings | -$12.94M | -$45.30M | -$9.351K |
YoY Change | -71.42% | ||
Net Earnings / Revenue | -8.08% | -38.32% | |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$530.9K | -$537.4K | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2016 | 2015 Q4 | 2015 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $9.400M | $1.000M | $100.0K |
YoY Change | 840.0% | ||
Cash & Equivalents | $9.400M | $967.4K | $0.00 |
Short-Term Investments | |||
Other Short-Term Assets | $24.10M | $0.00 | |
YoY Change | |||
Inventory | |||
Prepaid Expenses | $7.951K | ||
Receivables | $55.30M | ||
Other Receivables | $500.0K | ||
Total Short-Term Assets | $89.30M | $975.4K | $372.0K |
YoY Change | 8830.0% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.600M | ||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $5.500M | $172.6M | $300.0K |
YoY Change | -96.81% | ||
Total Long-Term Assets | $10.10M | $172.6M | $28.03K |
YoY Change | -94.15% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $89.30M | $975.4K | $372.0K |
Total Long-Term Assets | $10.10M | $172.6M | $28.03K |
Total Assets | $99.40M | $173.6M | $400.0K |
YoY Change | -42.74% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $8.800M | $0.00 | |
YoY Change | |||
Accrued Expenses | $35.40M | $19.97K | $8.000K |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $25.60M | ||
YoY Change | |||
Total Short-Term Liabilities | $212.9M | $19.97K | $400.0K |
YoY Change | 3390.16% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $63.30M | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $36.60M | ||
YoY Change | |||
Total Long-Term Liabilities | $99.90M | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $212.9M | $19.97K | $400.0K |
Total Long-Term Liabilities | $99.90M | $0.00 | $0.00 |
Total Liabilities | $312.9M | $6.057M | $356.3K |
YoY Change | 5029.51% | ||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$130.7K | -$9.351K | |
YoY Change | |||
Common Stock | $532.00 | $431.00 | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | 562.5K shares | ||
Shareholders Equity | -$213.5M | -$212.3M | $0.00 |
YoY Change | |||
Total Liabilities & Shareholders Equity | $99.40M | $173.6M | $372.0K |
YoY Change | -42.74% |
Cashflow Statement
Concept | 2016 | 2015 Q4 | 2015 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$12.94M | -$45.30M | -$9.351K |
YoY Change | -71.42% | ||
Depreciation, Depletion And Amortization | $1.783M | $1.450M | |
YoY Change | 22.88% | ||
Cash From Operating Activities | -$59.61M | $1.690M | $0.00 |
YoY Change | -3889.51% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.190M | -$1.750M | |
YoY Change | -32.0% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$1.190M | $170.8M | |
YoY Change | -32.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | $25.00K | |
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $77.09M | -174.5M | 100.0K |
YoY Change | -9255.34% | ||
NET CHANGE | |||
Cash From Operating Activities | -$59.61M | 1.690M | 0.000 |
Cash From Investing Activities | -1.190M | 170.8M | |
Cash From Financing Activities | $77.09M | -174.5M | 100.0K |
Net Change In Cash | $15.68M | -2.060M | 100.0K |
YoY Change | 2044.73% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$59.61M | $1.690M | $0.00 |
Capital Expenditures | -$1.190M | -$1.750M | |
Free Cash Flow | -$58.42M | $3.440M | |
YoY Change | -1858.02% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2015Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
0 | USD |
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Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
0 | USD |
CY2016 | us-gaap |
Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
0 | USD |
CY2016 | us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
1900000 | USD |
gpiau |
Change In Value Of Common Stock Subject To Possible Redemption
ChangeInValueOfCommonStockSubjectToPossibleRedemption
|
121377 | USD | |
CY2016 | us-gaap |
Payments To Acquire Investments
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|
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us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
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|
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Increase Decrease In Prepaid Expense
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|
209717 | USD |
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Net Cash Provided By Used In Operating Activities Continuing Operations
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|
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CY2016 | us-gaap |
Payments Of Stock Issuance Costs
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Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
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635681 | USD |
CY2016 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
2535681 | USD |
CY2016 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
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|
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us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
525590 | USD | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
1321 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
173664410 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
967449 | USD | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
100000 | USD | |
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Proceeds From Contributed Capital
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|
25000 | USD | |
CY2016 | gpiau |
Change In Value Of Common Stock Subject To Possible Redemption
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|
2861165 | USD |
CY2016 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
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|
0 | USD |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
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|
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Proceeds From Issuance Of Common Stock
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|
0 | USD |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
146250000 | USD | |
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Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
0 | USD |
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
6062500 | USD | |
CY2016 | us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
0 | USD |
us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
21937500 | USD | |
CY2016 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
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us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
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Repayments Of Notes Payable
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us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
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Initial Classification Of Ordinary Shares Subject To Possible Redemption
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|
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gpiau |
Initial Classification Of Ordinary Shares Subject To Possible Redemption
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|
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Common Units Issued In Initial Public Offering
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CY2015Q2 | us-gaap |
Other Ownership Interests Offering Costs
OtherOwnershipInterestsOfferingCosts
|
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Expense Related To Distribution Or Servicing And Underwriting Fees
ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
|
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Deferred Offering Costs
DeferredOfferingCosts
|
6037500 | USD |
CY2016 | gpiau |
Reduction Of Intangible Assets Due To Redemption
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|
5000001 | USD |
CY2016 | gpiau |
Interest On Dissolution Expenses
InterestOnDissolutionExpenses
|
100000 | USD |
CY2016 | us-gaap |
Interest Income Other
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|
552000 | USD |
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Debt Instrument Face Amount
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|
500000 | USD |
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Assets Held In Trust Current
AssetsHeldInTrustCurrent
|
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Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
14687500 | shares |
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Due To Affiliate Current
DueToAffiliateCurrent
|
10000 | USD |
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Due To Affiliate Current
DueToAffiliateCurrent
|
60000 | USD |
CY2016 | us-gaap |
Administrative Fees Expense
AdministrativeFeesExpense
|
120000 | USD |
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Working Capital Loan
WorkingCapitalLoan
|
1000000 | USD |
CY2016Q4 | gpiau |
Contingent Transaction Fee Amount
ContingentTransactionFeeAmount
|
3993000 | USD |
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Underwriters Discount Percentage
UnderwritersDiscountPercentage
|
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Payments To Underwriters In Cash
PaymentsToUnderwritersInCash
|
4312500 | USD |
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Underwriters Deferred Discount Amount
UnderwritersDeferredDiscountAmount
|
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Document Type
DocumentType
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10-K | |
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Amendment Flag
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Document Period End Date
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2016-12-31 | |
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Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2016 | |
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Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2016 | dei |
Entity Registrant Name
EntityRegistrantName
|
GP Investments Acquisition Corp. | |
CY2016 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001635282 | |
CY2016 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
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Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
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Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2016 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
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Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
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Entity Public Float
EntityPublicFloat
|
167325000 | USD |
CY2016 | dei |
Trading Symbol
TradingSymbol
|
GPIAU | |
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Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
21562500 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
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0.0001 | |
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Common Stock Shares Issued
CommonStockSharesIssued
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5649918 | shares |
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Common Stock Other Shares Outstanding
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CY2015Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
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Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">Use of estimates</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of 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.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">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 events. Accordingly, the actual results could differ significantly from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
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172500000 | USD |
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Entity Incorporation Date Of Incorporation
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|
2015-01-28 | |
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Stockholders Equity
StockholdersEquity
|
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Stock Issued During Period Value New Issues
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gpiau |
Sale Of Ordinary Shares Value Net Of Underwriters Discount And Offering Expenses
SaleOfOrdinarySharesValueNetOfUnderwritersDiscountAndOfferingExpenses
|
140389410 | USD | |
gpiau |
Sale Of Ordinary Shares Over Allotment Units Value To Underwriters Net Of Underwriters Discount
SaleOfOrdinarySharesOverAllotmentUnitsValueToUnderwritersNetOfUnderwritersDiscount
|
21150000 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
6062500 | USD | |
us-gaap |
Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
|
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Stock Redeemed Or Called During Period Value
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gpiau |
Sale Of Ordinary Shares Net Of Underwriters Discount And Offering Expenses
SaleOfOrdinarySharesNetOfUnderwritersDiscountAndOfferingExpenses
|
15000000 | shares | |
gpiau |
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|
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gpiau |
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Commitments And Contingencies
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Liabilities Current
LiabilitiesCurrent
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Preferred Stock Shares Authorized
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|
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|
0.0001 | |
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Preferred Stock Shares Issued
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|
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Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
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0 | shares |
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Preferred Stock Shares Outstanding
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0 | shares |
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Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5649918 | shares |
CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
5320250 | shares |
CY2015Q4 | us-gaap |
Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
|
16242250 | shares |
CY2016Q4 | us-gaap |
Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
|
635681 | USD |
CY2016 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt">Concentration of credit risk</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash accounts in a financial institution which, at times may exceed the Federal depository insurance coverage of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font>. At December 31, 2016, the Company had not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
CY2016Q4 | gpiau |
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|
1551 | USD |
CY2016Q4 | us-gaap |
Due From Related Parties
DueFromRelatedParties
|
635681 | USD |
CY2016Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
1900000 | USD |