v3.8.0.1

Condensed Interim Balance Sheets - USD ($)	Feb. 28, 2018	Nov. 30, 2017
Current Assets:
Cash	$ 28,032	$ 33,107
Prepaid expenses	71,401	21,386
Total Current Assets	99,433	54,493
Trust Account (See Note 7)	128,385,435	133,738,124
Total Assets	128,484,868	133,792,617
Current Liabilities:
Accounts payable and accrued expenses	911,822	825,550
Due to affiliate	742,718	397,125
Due to Sponsor (See Note 5)	3,432,844	2,348,303
Total Current Liabilities	5,087,384	3,570,978
Deferred underwriting compensation	6,750,000	6,750,000
Total Liabilities	11,837,384	10,320,978
Ordinary shares subject to possible redemption: 10,908,401 shares (at a redemption value of approximately $10.235) at February 28, 2018 and 11,672,083 shares (at a redemption value of approximately $10.15 per share) at November 30, 2017 (See Note 8)	111,647,483	118,471,638
Shareholders’ Equity:
Preferred shares, no par value; five classes of unlimited shares authorized; none issued and outstanding	0	0
Ordinary shares, no par value, unlimited shares authorized, 6,464,072 and 6,357,989 shares issued and outstanding (excluding 10,908,401 and 11,672,083 shares subject to redemption) at February 28, 2018 and November 30, 2017, respectively	5,328,146	5,298,698
Accumulated deficit	(328,145)	(298,697)
Total Shareholders’ Equity	5,000,001	5,000,001
Total Liabilities and Shareholders’ Equity	$ 128,484,868	$ 133,792,617

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities.

Electrum Special Acquisition Corp 10-Q