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We are a blank check company formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase, reorganization or
other similar business combination with one or more businesses, which we refer
to throughout this annual report as our initial business combination. While we
have reviewed a number of opportunities to enter into a business combination, we
have neither engaged in any operations nor generated any revenue to date. Based
on our business activities, the Company is a "shell company" as defined under
the Exchange Act because we have no operations and nominal assets consisting
almost entirely of cash.
Our management team is led by Jeffrey H. Smulyan, our Chairman and Chief
Executive Officer, and Patrick Walsh, our President and Chief Operating Officer.
Our founder, Jeffrey H.
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