----

|                                                                       |   | March 30, 2011 |       |   | December 31, 2010 |   |
|----------------------------------------------------------------------------|--------|--------------------------|------------|--------|-----------------------------|--------|
|                                                                       |   |                     |       |   |                        |   |
| ASSETS                                                                     |   |                     |       |   |                        |   |
|                                                                       |   |                     |       |   |                        |   |
| Cash and cash equivalents                                                  |   | $                        | 393,390    |   |                        | $      | 14,701 |   |
| Investments held in trust                                                  |   |                     | 36,088,000 |   |                        |   | - |   |
| Prepaid expenses                                                           |   |                     | 64,450     |   |                        |   | 2,700 |   |
| Deferred offering costs                                                    |   |                     | -          |   |                        |   | 358,900 |   |
| Fixed assets, net                                                          |   |                     | 2,850      |   |                        |   | 2,983 |   |
| Total assets                                                               |   | $                        | 36,548,690 |   |                        | $      | 379,284 |   |
|                                                                       |   |                     |       |   |                        |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                       |   |                     |       |   |                        |   |   |   |
|                                                                       |   |                     |       |   |                        |   |   |   |
| LIABILITIES                                                                |   |                     |       |   |                        |   |   |   |
| Accrued expenses                                                           |   | $                        | 170,770    |   |                        | $      | 247,577 |   |
| Due to related party                                                       |   |                     | 73,263     |   |                        |   | 12,759 |   |
| Deferred underwriters fees                                                 |   |                     | 1,008,000  |   |                        |   | - |   |
| Notes payable to stockholders                                              |   |                     | -          |   |                        |   | 150,000 |   |
| Total liabilities                                                          |   |                     | 1,252,033  |   |                        |   | 410,336 |   |
|                                                                       |   |                     |       |   |                        |   |   |   |
| Ordinary shares, subject to possible redemption 2,988,000  and 0 |   |                     |       |   |                        |   |   |   |
| shares stated at conversion value, respectively                            |   |                     | 29,939,760 |   |                        |   | - |   |
|                                                                       |   |                     |       |   |                        |   |   |   |
| STOCKHOLDERS' EQUITY                                                       |   |                     |       |   |                        |   |   |   |
| Ordinary shares, $.001 par value                                           |   |                     |       |   |                        |   |   |   |
| Authorized 50,000,000 shares:                                              |   |                     |       |   |                        |   |   |   |
| 2,019,600 and 1,564,000 issued and outstanding, respectively               |   |                     | 2,020      |   |                        |   | 1,564 |   |
| Additional paid-in capital                                                 |   |                     | 5,485,488  |   |                        |   | 34,374 |   |
| Deficit accumulated during the development stage                           |   |                     | (130,611   | )      |                        |   | (66,990 | ) |
| Total stockholders' equity                                                 |   |                     | 5,356,897  |   |                        |   | (31,052 | ) |
| Total liabilities and stockholders' equity                                 |   | $                        | 36,548,690 |   |                        | $      | 379,284 |   |

----

|                                                  |   |                                |      |   | For the period             |   |      | For the period             |   |
|-------------------------------------------------------|--------|-------------------------------------|-----------|--------|--------------------------------------|--------|-----------|--------------------------------------|--------|
|                                                  |   | For the period            |      |   | from February 4, 2010 |   |      | from February 4, 2010 |   |
|                                                  |   | from January 1, 2011 |      |   | (Inception) to                  |   |      | (Inception) to                  |   |
|                                                  |   | to March 30, 2011    |      |   | December 31, 2010          |   |      | March 30, 2011             |   |
|                                                  |   |                                |      |   |                                 |   |      |                                 |   |
| Operating expenses                                    |   | $                                   | (63,621   | )      |                                 | $      | (61,673   | )                                    |   | $ | (125,294 | ) |
| Formation costs                                       |   |                                | -         |   |                                 |   | (5,317    | )                                    |   |   | (5,317 | ) |
|                                                  |   |                                |      |   |                                 |   |      |                                 |   |   |   |   |
| Total operating expenses                              |   |                                | (63,621   | )      |                                 |   | (66,990   | )                                    |   |   | (130,611 | ) |
|                                                  |   |                                |      |   |                                 |   |      |                                 |   |   |   |   |
| Operating loss                                        |   |                                | (63,621   | )      |                                 |   | (66,990   | )                                    |   |   | (130,611 | ) |
|                                                  |   |                                |      |   |                                 |   |      |                                 |   |   |   |   |
| Net loss                                              |   | $                                   | (63,621   | )      |                                 | $      | (66,990   | )                                    |   | $ | (130,611 | ) |
|                                                  |   |                                |      |   |                                 |   |      |                                 |   |   |   |   |
| Weighted average shares outstanding basic and diluted |   |                                | 1,596,023 |   |                                 |   | 1,425,686 |                                 |   |   |   |   |
|                                                  |   |                                |      |   |                                 |   |      |                                 |   |   |   |   |
| Basic and diluted net loss per share                  |   | $                                   | (0.04     | )      |                                 | $      | (0.05     | )                                    |   |   |   |   |

----

|                                                                                                |   |                 |       |   |               |   |   |        |   |   | Deficit         |   |   |   |     |
|-----------------------------------------------------------------------------------------------------|--------|----------------------|------------|--------|--------------------|--------|--------|-------------|--------|--------|-----------------|--------|--------|--------|----------|
|                                                                                                |   |                 |       |   |               |   |   |        |   |   | Accumulated     |   |   |   |     |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   | During the |   |   |   |     |
|                                                                                                |   | Ordinary Shares |       |   | Add'l paid-in |   |   | Development |   |   | Stockholders'   |   |
|                                                                                                |   | Shares               |       |   | Amount             |   |   | Capital     |   |   | Stage           |   |   | Equity |     |
| Ordinary units issued February 18, 2010 for cash at $0.001 per share                                |   |                 | 1,408,750  |   |               | $      | 1,409  |        |   | $      | -               |   |   | $      | -        |   |   | $ | 1,409 |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Non-employee stock based compensation                                                               |   |                 | -          |   |               |   | -      |        |   |   | 34,374          |   |   |   | -        |   |   |   | 34,374 |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Ordinary shares issued November 25, 2010 for cash at $0.001 per share                               |   |                 | 155,250    |   |               |   | 155    |        |   |   | -               |   |   |   | -        |   |   |   | 155 |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Net loss for the period February 4, 2010 (inception) to December 31, 2010                           |   |                 | -          |   |               |   | -      |        |   |   | -               |   |   |   | (66,990  | ) |   |   | (66,990 | ) |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Balance at December 31, 2010                                                                        |   |                 | 1,564,000  |   |               |   | 1,564  |        |   |   | 34,374          |   |   |   | (66,990  | ) |   |   | (31,052 | ) |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Forfeiture of Initial Shareholders units                                                            |   |                 | (156,400   | )      |               |   | (156   | )           |   |   | 156             |   |   |   | -        |   |   |   | - |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Proceeds from sale of warrants in private placement                                                 |   |                 | -          |   |               |   | -      |        |   |   | 1,638,800       |   |   |   | -        |   |   |   | 1,638,800 |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Proceeds from initial public offering net of offering costs and underwriter discounts of $2,305,344 |   |                 | 3,600,000  |   |               |   | 3,600  |        |   |   | 33,691,056      |   |   |   | -        |   |   |   | 33,694,656 |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Sale of unit purchase option to underwriters                                                        |   |                 | -          |   |               |   | -      |        |   |   | 100             |   |   |   | -        |   |   |   | 100 |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Proceeds subject to possible conversion of 2,988,000 shares                                         |   |                 | (2,988,000 | )      |               |   | (2,988 | )           |   |   | (29,936,772     | )      |   |   | -        |   |   |   | (29,939,760 | ) |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Non-employee stock based compensation                                                               |   |                 | -          |   |               |   | -      |        |   |   | 57,774          |   |   |   | -        |   |   |   | 57,774 |   |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Net loss                                                                                            |   |                 | -          |   |               |   | -      |        |   |   | -               |   |   |   | (63,621  | ) |   |   | (63,621 | ) |
|                                                                                                |   |                 |       |   |               |   |   |        |   |   |            |   |   |   |     |   |   |   |   |   |
| Balance at March 30, 2011                                                                           |   |                 | 2,019,600  |   |               | $      | 2,020  |        |   | $      | 5,485,488       |   |   | $      | (130,611 | ) |   | $ | 5,356,897 |   |

----

|                                                                        |   |                                        |        |   | For the period             |   |     | For the period             |   |
|-----------------------------------------------------------------------------|--------|---------------------------------------------|-------------|--------|--------------------------------------|--------|----------|--------------------------------------|--------|
|                                                                        |   | For the period                    |        |   | from February 4, 2010 |   |     | from February 4, 2010 |   |
|                                                                        |   | from January 1, 2011 to |        |   | (Inception) to                  |   |     | (Inception) to                  |   |
|                                                                        |   | March 30, 2011                    |        |   | December 31, 2010          |   |     | March 30, 2011             |   |
|                                                                        |   |                                        |        |   |                                 |   |     |                                 |   |
| Cash Flows from Operating Activities                                        |   |                                        |        |   |                                 |   |     |                                 |   |
| Net Loss                                                                    |   | $                                           | (63,621     | )      |                                 | $      | (66,990  | )                                    |   | $ | (130,611 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Non-employee stock based compensation                                       |   |                                        | 57,774      |   |                                 |   | 34,374   |                                 |   |   | 92,148 |   |
| Depreciation expense                                                        |   |                                        | 133         |   |                                 |   | 59       |                                 |   |   | 192 |   |
| Changes in operating assets and liabilities                                 |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Prepaid expenses                                                            |   |                                        | (61,750     | )      |                                 |   | (2,700   | )                                    |   |   | (64,450 | ) |
| Deferred offering costs                                                     |   |                                        | 358,900     |   |                                 |   | (358,900 | )                                    |   |   | - |   |
| Accrued expenses                                                            |   |                                        | (76,807     | )      |                                 |   | 247,577  |                                 |   |   | 170,770 |   |
| Due to related party                                                        |   |                                        | 60,504      |   |                                 |   | 12,759   |                                 |   |   | 73,263 |   |
| Net cash provided by (used in) operating activities                         |   |                                        | 275,133     |   |                                 |   | (133,821 | )                                    |   |   | 141,312 |   |
|                                                                        |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Cash Flows from Investing Activities                                        |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Funds placed in trust account from offerings                                |   |                                        | (36,088,000 | )      |                                 |   | -        |                                 |   |   | (36,088,000 | ) |
| Purchases of fixed assets                                                   |   |                                        | -           |   |                                 |   | (3,042   | )                                    |   |   | (3,042 | ) |
| Net cash used in investing activities                                       |   |                                        | (36,088,000 | )      |                                 |   | (3,042   | )                                    |   |   | (36,091,042 | ) |
|                                                                        |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Cash Flows from Financing Activities                                        |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Proceeds from sale of ordinary units to founding stockholders               |   |                                        | -           |   |                                 |   | 1,564    |                                 |   |   | 1,564 |   |
| Proceeds from initial public offering                                       |   |                                        | 36,000,000  |   |                                 |   | -        |                                 |   |   | 36,000,000 |   |
| Proceeds from issuance of underwriter purchase option                       |   |                                        | 100         |   |                                 |   | -        |                                 |   |   | 100 |   |
| Proceeds from private placement of insider warrants                         |   |                                        | 1,638,800   |   |                                 |   | -        |                                 |   |   | 1,638,800 |   |
| Payment of underwriters fees and offering costs                             |   |                                        | (1,297,344  | )      |                                 |   | -        |                                 |   |   | (1,297,344 | ) |
| Proceeds from notes payable to stockholders                                 |   |                                        | -           |   |                                 |   | 150,000  |                                 |   |   | 150,000 |   |
| Repayment of notes payable to stockholders                                  |   |                                        | (150,000    | )      |                                 |   | -        |                                 |   |   | (150,000 | ) |
| Net cash provided by financing activities                                   |   |                                        | 36,191,556  |   |                                 |   | 151,564  |                                 |   |   | 36,343,120 |   |
|                                                                        |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Net increase in cash                                                        |   |                                        | 378,689     |   |                                 |   | 14,701   |                                 |   |   | 393,390 |   |
|                                                                        |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Cash, at beginning of period                                                |   |                                        | 14,701      |   |                                 |   | -        |                                 |   |   | - |   |
| Cash, at end of period                                                      |   | $                                           | 393,390     |   |                                 | $      | 14,701   |                                 |   | $ | 393,390 |   |
|                                                                        |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Supplemental disclosure of non-cash financing activities                    |   |                                        |        |   |                                 |   |     |                                 |   |   |   |   |
| Deferred underwriters' commission included in proceeds from IPO             |   | $                                           | 1,008,000   |   |                                 | $      | -        |                                 |   | $ | 1,008,000 |   |

----

----

----

|                                |   |                                |      |   | For the period             |   |   | For the period             |   |
|-------------------------------------|--------|-------------------------------------|-----------|--------|--------------------------------------|--------|--------|--------------------------------------|--------|
|                                |   | For the period            |      |   | from February 4, 2010 |   |   | from February 4, 2010 |   |
|                                |   | from January 1, 2011 |      |   | (Inception) to                  |   |   | (Inception) to                  |   |
|                                |   | to March 30, 2011    |      |   | December 31, 2010          |   |   | March 30, 2011             |   |
|                                |   |                                |      |   |                                 |   |   |                                 |   |
| Warrants to purchase common stock   |   |                                | 7,192,667 |   |                                 |   | -      |                                 |   |   | 7,192,667 |   |
| Options to purchase common stock    |   |                                | 55,000    |   |                                 |   | 55,000 |                                 |   |   | 55,000 |   |
| Total potential dilutive securities |   |                                | 7,247,667 |   |                                 |   | 55,000 |                                 |   |   | 7,247,667 |   |

----

----

----

|                                                          |   | Number ofShares |   |   | WeightedAverageExercise Priceper Share |   |   | WeightedAverageRemainingContractualTerm (inYears) |   |   | AggregateIntrinsic Value |   |
|---------------------------------------------------------------|--------|----------------------|--------|--------|--------------------------------------------------|--------|--------|--------------------------------------------------------|--------|--------|-------------------------------|--------|
| Outstanding at February 4, 2010 (inception)                   |   |                 | -      |   |                                             | $      | 0.001  |                                                   |   |   | -                             |   |   | $ | - |   |
| Granted                                                       |   |                 | 55,000 |   |                                             |   |   |                                                   |   |   |                          |   |   |   |   |   |
| Exercised                                                     |   |                 | -      |   |                                             |   | 0.001  |                                                   |   |   | -                             |   |   |   | - |   |
| Canceled                                                      |   |                 | -      |   |                                             |   | -      |                                                   |   |   | -                             |   |   |   |   |   |
| Outstanding at December 31,     2010 |   |                 | 55,000 |   |                                             |   | 0.001  |                                                   |   |   | 6.22                          |   |   |   | 530,679 |   |
| Granted                                                       |   |                 | -      |   |                                             |   |   |                                                   |   |   |                          |   |   |   |   |   |
| Exercised                                                     |   |                 | -      |   |                                             |   |   |                                                   |   |   |                          |   |   |   |   |   |
| Canceled                                                      |   |                 | -      |   |                                             |   |   |                                                   |   |   |                          |   |   |   |   |   |
| Outstanding at March 30, 2011                                 |   |                 | 55,000 |   |                                             |   | 0.001  |                                                   |   |   | 6.22                          |   |   |   | 530,679 |   |
| Exercisable at March 30, 2011                                 |   |                 | 9,550  |   |                                             |   | 0.001  |                                                   |   |   | 6.22                          |   |   |   | 92,147 |   |

|                                                      |   | Period from           |   |
|-----------------------------------------------------------|--------|----------------------------|--------|
|                                                      |   | February 4, 2010 |   |
|                                                      |   | (inception) to        |   |
|                                                      |   | March 30, 2011   |   |
| Risk-free interest rate                                   |   |                       | 1.47   | % |
| Expected term (in years)                                  |   |                       | 6.46   |   |
| Weighted average expected stock price volatility          |   |                       | 43.55  | % |
| Expected dividend yield                                   |   |                       | 0      | % |
| Exercise price                                            |   | $                          | 0.001  |   |
| Fair value of the underlying stock                        |   | $                          | 10.00  |   |
| Weighted average grant-date fair value of options granted |   | $                          | 9.6487 |   |

----