Note Payable to Affiliates

3 Months Ended

Jun. 30, 2014

Notes Payable [Abstract]

Notes Payable to Affiliates [Text Block]

Note 5 — Note Payable to Affiliates

The Company issued a $125,000 principal amount unsecured promissory note to 1347 Investors LLC, the sponsor and holder of Insider Shares, on April 17, 2014. The note is non-interest bearing and payable no later than the date of the consummation of an initial Business Combination. Due to the short-term nature of the note, the fair value of the note approximates the carrying amount.