Company Act of 1940 (15 U.S.C. 80a-8).

(e)

o

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E).

(f)

o

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F).

(g)

o

A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).

(h)

o

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).

(i)

o

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).

(j)

o

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4.

Ownership.

                                The reporting persons purchased units (the “Units”). Each Unit consists of one Ordinary Share, par value $0.0001 (“Ordinary Shares”), and one redeemable warrant (the “Warrant”). Each Warrant entitles the holder to purchase one Ordinary Share at a price of $8.00. Each Warrant will become exercisable upon the later to occur of (i) the completion of an initial business combination and (ii) one year from March 16, 2012, and expires three years after the completion of an initial business combination, or earlier upon redemption.

                                The percentages of beneficial ownership shown below are based on 5,150,000 Ordinary Shares outstanding as reported in the Issuer’s Form 8-K, dated March 28, 2012.

1.

Woodland Partners:

(a)

Amount Beneficially Owned: 145,000^1,2 shares.

(b)

Percent of Class:           2.8%

(c)

Number of shares as to which such person has:

(i)

sole power to vote or to direct the vote: 145,000^1,2 shares.

(ii)

shared power to vote or to direct the vote: 0 shares.

(iii)

sole power to dispose or to direct the disposition of: 145,000^1,2 shares.

(iv)

shared power to dispose or to direct the disposition of: 0 shares.

2.

Barry Rubenstein:

(a)

Amount Beneficially Owned: 330,000^{1,2,3,4,5,6,7} shares. Barry Rubenstein is a general partner of Woodland Partners. Mr. Rubenstein is the husband of Marilyn Rubenstein.

(b)

Percent of Class:          6.4%

¹ Includes 145,000 Ordinary Shares held by Woodland Partners.

² Does not include 145,000 Ordinary Shares issuable upon the exercise of the Warrants held by Woodland Partners.

³ Includes 50,000 Ordinary Shares held by the Barry Rubenstein Rollover IRA account.

⁴ Does not include 50,000 Ordinary Shares issuable upon the exercise of the Warrants held by the Barry Rubenstein Rollover IRA account.

⁵ Includes 135,000 Ordinary Shares held in a joint account by Barry Rubenstein and Marilyn Rubenstein.

⁶ Does not include 135,000 Ordinary Shares issuable upon the exercise of the Warrants held in a joint account by Barry Rubenstein and Marilyn Rubenstein.

⁷ The reporting person disclaims beneficial ownership of these securities except to the extent of his/her equity interest therein.