Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	International Money Express, Inc.
Entity Central Index Key	0001683695
Amendment Flag	false
Document Type	S-1
Document Period End Date	Dec. 31, 2017
Entity Filer Category	Non-accelerated Filer

CONSOLIDATED BALANCE SHEETS - USD ($)

Dec. 31, 2017

Dec. 31, 2016

Current Assets

Cash

$ 362,581

$ 82,614

Prepaid expenses and other current assets

13,560

Total Current Assets

376,141

82,614

Cash and marketable securities held in Trust Account

175,883,186

Deferred offering costs

387,922

Total Assets

176,259,327

470,536

Current liabilities

Accrued expenses

480,538

2,886

Income taxes payable

436,721

Accrued offering costs

214,612

Promissory note - related party

231,846

Total Current Liabilities

917,259

449,344

Long Term Liabilities

Deferred underwriting fees

9,190,000

Deferred legal fees payable

25,000

Total Liabilities

10,132,259

449,344

Commitments and Contingencies

Common stock subject to possible redemption, $0.0001 par value; 16,112,706 and -0- shares (at redemption value of approximately $10.00 per share) as of December 31, 2017 and 2016, respectively

161,127,060

Stockholders' Equity

Preferred stock, $0.0001 par value; 5,000,000 authorized, none issued and outstanding

Common stock

778

530

Additional paid-in capital

5,188,385

24,470

Accumulated deficit

(189,155)

(3,808)

Total Stockholders' Equity

5,000,008

21,192

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

176,259,327

470,536

Intermex Holdings, Inc. and Subsidiaries [Member]

Current Assets

Cash

59,155,618

Accounts receivable, net of allowance of $307,562 and $290,801 for 2017 and 2016, respectively

51,374,377

Prepaid wires

7,675,491

Prepaid expenses and other current assets

900,386

Total Current Assets

119,105,872

Property and equipment, net

8,490,794

Goodwill

36,259,666

Intangible assets, net

48,741,032

Deferred tax asset, net

1,748,854

Other assets

1,706,693

Total Assets

216,052,911

Current liabilities

Current portion of long-term debt

^[1]

3,913,436

Accounts payable

8,919,796

Wire transfers and money orders payable

48,276,649

Accrued and other

11,514,449

Total Current Liabilities

72,624,330

Long Term Liabilities

Debt, net

107,526,462

Total long term liabilities

107,526,462

Commitments and Contingencies

Stockholders' Equity

Common stock

Additional paid-in capital

46,077,943

Accumulated deficit

(10,173,453)

Accumulated other comprehensive loss

(2,371)

Total Stockholders' Equity

35,902,119

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$ 216,052,911

Intermex Holdings, Inc. and Subsidiaries [Member] | Predecessor Company [Member]

Current Assets

Cash

37,601,096

Accounts receivable, net of allowance of $307,562 and $290,801 for 2017 and 2016, respectively

27,769,967

Prepaid wires

11,380,391

Prepaid expenses and other current assets

392,867

Total Current Assets

77,144,321

Property and equipment, net

6,246,447

Goodwill

Intangible assets, net

6,347,634

Deferred tax asset, net

27,816,112

Other assets

1,219,438

Total Assets

118,773,952

Current liabilities

Current portion of long-term debt

^[1]

849,809

Accounts payable

5,881,754

Wire transfers and money orders payable

21,714,100

Accrued and other

9,886,935

Total Current Liabilities

38,332,598

Long Term Liabilities

Debt, net

77,182,811

Total long term liabilities

77,182,811

Commitments and Contingencies

Stockholders' Equity

Common stock

818,791

Additional paid-in capital

70,010,991

Accumulated deficit

(67,550,973)

Accumulated other comprehensive loss

(20,266)

Total Stockholders' Equity

3,258,543

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$ 118,773,952

[1]	Current portion of long term debt is net of debt issuance costs of $936,564 at December 31, 2017 of the Successor period and $462,691 at December 31, 2016 of the Predecessor period.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Liabilities and Equity [Abstract]
Common stock subject to possible redemption, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock subject to possible redemption, shares (in shares)	16,112,706	0
Common stock subject to possible redemption, redemption value per share (in dollars per share)	$ 10.00	$ 10.00
Stockholder's Equity
Preferred Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred Stock, shares issued (in shares)	0	0
Preferred Stock, shares outstanding (in shares)	0	0
Common Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, shares authorized (in shares)	35,000,000	35,000,000
Common Stock, shares issued (in shares)	7,780,627	5,298,333
Common Stock, shares outstanding (in shares)	7,780,627	5,298,333
Intermex Holdings, Inc. and Subsidiaries [Member]
Current Assets
Accounts receivable, allowance	$ 307,562
Stockholder's Equity
Common Stock, par value (in dollars per share)	$ 0.01
Common Stock, shares authorized (in shares)	1,000
Common Stock, shares issued (in shares)	10
Common Stock, shares outstanding (in shares)	10
Intermex Holdings, Inc. and Subsidiaries [Member] \| Predecessor Company [Member]
Current Assets
Accounts receivable, allowance		$ 290,801
Stockholder's Equity
Common Stock, par value (in dollars per share)		$ 0.01
Common Stock, shares authorized (in shares)		200,000,000
Common Stock, shares issued (in shares)		81,879,165
Common Stock, shares outstanding (in shares)		81,879,165

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)

1 Months Ended

7 Months Ended

11 Months Ended

12 Months Ended

Jan. 31, 2017

Dec. 31, 2015

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Revenues:

Operating costs

$ 2,187

$ 1,131,812

$ 1,621

Operating expenses

Income (loss) from operations

2,187

(1,131,812)

(1,621)

Other income (expense):

Interest income

1,383,186

(Loss) income before income taxes

(2,187)

251,374

(1,621)

Provision for income tax expense (benefit)

(436,721)

Net (loss) income

$ (2,187)

$ (185,347)

$ (1,621)

Weighted average shares outstanding

Basic and diluted (in shares)

^[1],[2]

5,271,666

7,594,116

5,271,666

Net loss per common share

Basic and diluted (in dollars per share)

$ 0

$ (0.02)

$ 0

Intermex Holdings, Inc. and Subsidiaries [Member]

Revenues:

Wire transfer and money order fees

$ 169,795,746

Foreign exchange

30,014,304

Other income

1,229,081

Total revenues

201,039,131

Operating expenses

Service charges from agents and banks

135,455,304

Salaries and benefits

21,954,005

Other selling, general and administrative expenses

16,470,615

Transaction costs

8,705,501

Depreciation and amortization

16,644,821

Total operating expenses

199,230,246

Income (loss) from operations

1,808,885

Other income (expense):

Interest expense

11,447,936

(Loss) income before income taxes

(9,639,051)

Provision for income tax expense (benefit)

534,402

Net (loss) income

(10,173,453)

Other comprehensive (loss) income

(2,371)

Comprehensive (loss) income

$ (10,175,824)

Intermex Holdings, Inc. and Subsidiaries [Member] | Predecessor Company [Member]

Revenues:

Wire transfer and money order fees

$ 11,876,919

$ 138,467,934

$ 105,515,500

Foreign exchange

2,449,709

25,781,882

17,596,590

Other income

98,715

1,144,675

1,087,223

Total revenues

14,425,343

165,394,491

124,199,313

Operating expenses

Service charges from agents and banks

9,431,503

107,967,505

81,746,818

Salaries and benefits

4,456,631

17,261,125

14,307,184

Other selling, general and administrative expenses

1,146,327

13,711,270

9,898,985

Transaction costs

3,917,188

900,530

1,609,034

Depreciation and amortization

381,746

2,530,334

2,453,454

Total operating expenses

19,333,395

142,370,764

110,015,475

Income (loss) from operations

(4,908,052)

23,023,727

14,183,838

Other income (expense):

Interest expense

613,742

9,540,046

4,234,371

(Loss) income before income taxes

(5,521,794)

13,483,681

9,949,467

Provision for income tax expense (benefit)

(2,203,373)

4,083,655

4,191,643

Net (loss) income

(3,318,421)

9,400,026

5,757,824

Other comprehensive (loss) income

(2,453)

109,920

(56,582)

Comprehensive (loss) income

$ (3,320,874)

$ 9,509,946

$ 5,701,242

[1]	On January 25, 2017, as a result of the underwriters' election to exercise a portion of their over-allotment option, 26,667 shares held by the Initial Stockholders (as defined in Note 1) were forfeited (Note 5).
[2]	This number excludes an aggregate of up to 16,112,706 shares subject to possible redemption at December 31, 2017.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Parenthetical) - shares	Jan. 25, 2017	Dec. 31, 2017	Dec. 31, 2016
Common stock subject to possible redemption (in shares)		16,112,706	0
Over-allotment Option [Member]
Forfeiture of shares (in shares)	26,667

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Notes Receivable from Stockholders [Member]	Accumulated Deficit [Member]	Total	Intermex Holdings, Inc. and Subsidiaries [Member] Common Stock [Member]	Intermex Holdings, Inc. and Subsidiaries [Member] Additional Paid-in Capital [Member]	Intermex Holdings, Inc. and Subsidiaries [Member] Accumulated Deficit [Member]	Intermex Holdings, Inc. and Subsidiaries [Member] Accumulated Other Comprehensive Loss [Member]	Intermex Holdings, Inc. and Subsidiaries [Member]	Intermex Holdings, Inc. and Subsidiaries [Member] Series A Convertible Preferred Stock [Member]
Balance (Predecessor Company [Member]) at Dec. 31, 2014						$ 1,353,680	$ 122,971,721	$ (82,708,823)	$ (73,604)	$ 51,993,637	$ 10,450,663
Balance (in shares) (Predecessor Company [Member]) at Dec. 31, 2014						135,368,059					10,451
Net income (loss) \| Predecessor Company [Member]						$ 0	0	5,757,824	0	5,757,824	$ 0
Purchase of Preferred Stock \| Predecessor Company [Member]						0	0	0	0	(10,639,850)	$ (10,639,850)
Purchase of Preferred Stock (in shares) \| Predecessor Company [Member]											(10,640)
Common dividend distributions \| Predecessor Company [Member]						0	(18,144,839)	0	0	(18,144,839)	$ 0
Preferred dividend in-kind \| Predecessor Company [Member]						0	(189,187)	0	0	0	$ 189,187
Preferred dividend in-kind (in shares) \| Predecessor Company [Member]											189
Share-based compensation \| Predecessor Company [Member]						$ 21,743	41,096	0	0	62,839	$ 0
Share-based compensation (in shares) \| Predecessor Company [Member]						2,174,306					0
Adjustment from foreign currency translation \| Predecessor Company [Member]						$ 0	0	0	(56,582)	(56,582)	$ 0
Balance (Predecessor Company [Member]) at Dec. 31, 2015						$ 1,375,423	104,678,791	(76,950,999)	(130,186)	28,973,029	$ 0
Balance at Dec. 31, 2015	$ 530	$ 24,470	$ (25,000)	$ (2,187)	$ (2,187)
Balance, (in shares) (Predecessor Company [Member]) at Dec. 31, 2015						137,542,365					0
Balance, (in shares) at Dec. 31, 2015	5,298,333
Balance at May. 27, 2015	$ 0	0	0	0	0
Balance (in shares) at May. 27, 2015	0
Net income (loss)	$ 0	0	0	(2,187)	(2,187)
Common stock issued to Initial Stockholders in exchange for a note receivable	$ 530	24,470	(25,000)	0	0
Common stock issued to Initial Stockholders in exchange for a note receivable (in shares)	5,298,333
Balance (Predecessor Company [Member]) at Dec. 31, 2015						$ 1,375,423	104,678,791	(76,950,999)	(130,186)	28,973,029	$ 0
Balance at Dec. 31, 2015	$ 530	24,470	(25,000)	(2,187)	(2,187)
Balance, (in shares) (Predecessor Company [Member]) at Dec. 31, 2015						137,542,365					0
Balance, (in shares) at Dec. 31, 2015	5,298,333
Net income (loss) \| Predecessor Company [Member]						$ 0	0	9,400,026	0	9,400,026	$ 0
Net income (loss)	$ 0	0	0	(1,621)	(1,621)
Purchase of Common Stock \| Predecessor Company [Member]						$ (576,271)	(33,423,729)	0	0	(34,000,000)	0
Purchase of Common Stock (in shares) \| Predecessor Company [Member]						(57,627,100)
Common dividend distributions \| Predecessor Company [Member]						$ 0	(1,286,995)	0	0	(1,286,995)	0
Share-based compensation \| Predecessor Company [Member]						$ 19,639	42,924	0	0	62,563	$ 0
Share-based compensation (in shares) \| Predecessor Company [Member]						1,963,900					0
Adjustment from foreign currency translation \| Predecessor Company [Member]						$ 0	0	0	109,920	109,920	$ 0
Collection of notes receivable from stockholders	0	0	25,000	0	25,000
Balance (Predecessor Company [Member]) at Dec. 31, 2016						$ 818,791	70,010,991	(67,550,973)	(20,266)	3,258,543	$ 0
Balance at Dec. 31, 2016	$ 530	24,470	0	(3,808)	21,192
Balance, (in shares) (Predecessor Company [Member]) at Dec. 31, 2016						81,879,165					0
Balance, (in shares) at Dec. 31, 2016	5,298,333
Net income (loss) \| Predecessor Company [Member]						$ 0	0	(3,318,421)	0	(3,318,421)	$ 0
Share-based compensation \| Predecessor Company [Member]						$ 5,611	2,910,713	0	0	2,916,324	$ 0
Share-based compensation (in shares) \| Predecessor Company [Member]						561					0
Adjustment from foreign currency translation \| Predecessor Company [Member]						$ 0	0	0	(2,453)	(2,453)	$ 0
Balance (Predecessor Company [Member]) at Jan. 31, 2017						824,402	72,921,704	(70,869,394)	(22,719)	2,853,993	0
Balance at Jan. 31, 2017						$ 0	64,410,000	0	0	64,410,000	$ 0
Balance, (in shares) (Predecessor Company [Member]) at Jan. 31, 2017						81,879,726					0
Balance, (in shares) at Jan. 31, 2017						10					0
Balance (Predecessor Company [Member]) at Dec. 31, 2016						$ 818,791	70,010,991	(67,550,973)	(20,266)	3,258,543	$ 0
Balance at Dec. 31, 2016	$ 530	24,470	0	(3,808)	21,192
Balance (in shares) (Predecessor Company [Member]) at Dec. 31, 2016						81,879,165					0
Balance (in shares) at Dec. 31, 2016	5,298,333
Net income (loss)	$ 0	0	0	(185,347)	(185,347)
Issuance of common stock to Initial Stockholders	$ 70	3,241	0	0	3,311
Issuance of common stock to Initial Stockholders (in shares)	701,667
Sale of 17,500,000 Units, net of underwriters discount and offering expenses	$ 1,750	162,086,162	0	0	162,087,912
Sale of 17,500,000 Units, net of underwriters discount and offering expenses, (in shares)	17,500,000
Sale of 420,000 Placement Units	$ 42	4,199,958	0	0	4,200,000
Sale of 420,000 Placement Units (in shares)	420,000
Forfeiture of 26,667 shares of common stock due to underwriter not exercising its full over-allotment option	$ (3)	3	0	0	0
Forfeiture of 26,667 shares of common stock due to underwriter not exercising its full over-allotment option (in shares)	(26,667)
Common stock subject to redemption	$ (1,611)	(161,125,449)	0	0	(161,127,060)
Common stock subject to redemption (in shares)	(16,112,706)
Balance at Dec. 31, 2017	$ 778	5,188,385	0	(189,155)	5,000,008	$ 0	46,077,943	(10,173,453)	(2,371)	35,902,119	$ 0
Balance, (in shares) at Dec. 31, 2017	7,780,627					10					0
Balance (Predecessor Company [Member]) at Jan. 31, 2017						$ 824,402	72,921,704	(70,869,394)	(22,719)	2,853,993	$ 0
Balance at Jan. 31, 2017						$ 0	64,410,000	0	0	64,410,000	$ 0
Balance (in shares) (Predecessor Company [Member]) at Jan. 31, 2017						81,879,726					0
Balance (in shares) at Jan. 31, 2017						10					0
Net income (loss)						$ 0	0	(10,173,453)	0	(10,173,453)	$ 0
Common dividend distributions						0	(20,178,000)	0	0	(20,178,000)	0
Share-based compensation						$ 0	1,845,943	0	0	1,845,943	$ 0
Share-based compensation (in shares)						0					0
Adjustment from foreign currency translation						$ 0	0	0	(2,371)	(2,371)	$ 0
Balance at Dec. 31, 2017	$ 778	$ 5,188,385	$ 0	$ (189,155)	$ 5,000,008	$ 0	$ 46,077,943	$ (10,173,453)	$ (2,371)	$ 35,902,119	$ 0
Balance, (in shares) at Dec. 31, 2017	7,780,627					10					0

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	1 Months Ended	7 Months Ended	11 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jan. 31, 2017	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flows from Operating Activities:
Net income (loss)		$ (2,187)		$ (185,347)	$ (1,621)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest earned on marketable securities held in Trust Account		0		(1,383,186)	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets		0		(13,560)	0
Accrued expenses		1,887		477,652	999
Income taxes payable		0		436,721	0
Net cash used in operating activities		(300)		(667,720)	(622)
Cash Flows from Investing Activities:
Investment of cash in Trust Account		0		(175,000,000)	0
Cash withdrawn from Trust Account		0		500,000	0
Net cash used in investing activities		0		(174,500,000)	0
Cash Flows from Financing Activities:
Proceeds from sale of Units, net of underwriting discounts paid		0		171,940,000	0
Proceeds from sale of Private Placement Units		0		4,200,000	0
Proceed from issuance of common stock to Initial Stockholders		0		3,311	0
Proceeds from collection of notes receivable from stockholders		0		0	25,000
Proceeds from promissory note - related party		300		0	231,546
Repayment of promissory note - related party		0		(231,846)	0
Payment of offering costs		0		(463,778)	(173,310)
Net cash provided by (used in) financing activities		300		175,447,687	83,236
Net Change in Cash		0		279,967	82,614
Cash - Beginning	$ 82,614	0		82,614	0
Cash - Ending		0	$ 362,581	362,581	82,614	$ 0
Non-Cash investing and financing activities:
Deferred offering costs included in accrued expenses		0		0	214,612
Deferred underwriting fees charged to additional paid in capital		0		9,190,000	0
Deferred legal fees charged to additional paid in capital		0		25,000	0
Initial Classification of Common Stock Subject to Possible Redemption		0		161,314,270	0
Change in Value of Common Stock Subject to Possible Redemption		0		(187,210)	0
Issuance of stock for notes receivable from stockholders		25,000		0	0
Intermex Holdings, Inc. and Subsidiaries [Member]
Cash Flows from Operating Activities:
Net income (loss)			(10,173,453)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization			16,644,821
Share-based compensation			1,845,943
Provision for bad debts			1,401,446
Debt issuance cost amortization			335,221
Deferred taxes			369,947
Loss on disposals of property and equipment			127,850
Total adjustments			20,725,228
Changes in operating assets and liabilities:
Prepaid expenses and other current assets			(1,011,440)
Accounts receivable			(29,172,953)
Prepaid wires			(4,143,741)
Wire transfer and money order payables			27,637,839
Accounts payable and accrued other			3,555,223
Net cash used in operating activities			7,416,703
Cash Flows from Investing Activities:
Purchases of property and equipment			(4,351,506)
Net cash used in acquisition			(923,654)
Net cash used in investing activities			(5,275,160)
Cash Flows from Financing Activities:
Borrowings under term loan			102,000,000
Borrowings/(repayments) under revolving loan, net			12,000,000
Repayment of term loan			(76,212,500)
Debt issuance costs			(4,682,830)
Common dividend distributions			(20,178,000)
Purchase of preferred stock			0
Purchase of common stock			0
Net cash provided by (used in) financing activities			12,926,670
Effect of exchange rate changes on cash			98,820
Net Change in Cash			15,167,033
Cash - Beginning			43,988,585
Cash - Ending	43,988,585		59,155,618	59,155,618
Supplemental disclosures of cash flow information:
Cash paid for interest			11,687,159
Cash paid for taxes			400,000
Non-Cash investing and financing activities:
Agent businesses acquired in exchange for receivables			639,688
Dividends paid in-kind			0
Intermex Holdings, Inc. and Subsidiaries [Member] \| Predecessor [Member]
Cash Flows from Operating Activities:
Net income (loss)	(3,318,421)				9,400,026	5,757,824
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	381,746				2,530,334	2,453,454
Share-based compensation	2,916,324				62,563	62,839
Provision for bad debts	83,695				909,275	720,416
Debt issuance cost amortization	39,298				2,670,976	741,450
Deferred taxes	(2,214,351)				3,718,943	3,971,485
Loss on disposals of property and equipment	13,472				172,934	87,038
Total adjustments	1,220,184				10,065,025	8,036,682
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	70,927				(302,025)	(44,622)
Accounts receivable	3,612,332				(15,865,867)	(5,316,628)
Prepaid wires	7,848,641				777,111	(9,652,582)
Wire transfer and money order payables	(1,884,922)				13,759,090	1,718,158
Accounts payable and accrued other	1,103,326				4,562,418	3,966,613
Net cash used in operating activities	8,652,067				22,395,778	4,465,445
Cash Flows from Investing Activities:
Purchases of property and equipment	(249,382)				(3,012,110)	(2,064,577)
Net cash used in acquisition	0				0	0
Net cash used in investing activities	(249,382)				(3,012,110)	(2,064,577)
Cash Flows from Financing Activities:
Borrowings under term loan	0				40,331,834	35,000,000
Borrowings/(repayments) under revolving loan, net	(2,000,000)				(2,000,000)	3,000,000
Repayment of term loan	0				(1,287,004)	(9,444,830)
Debt issuance costs	0				(2,315,992)	(2,789,288)
Common dividend distributions	0				(1,286,995)	(18,144,839)
Purchase of preferred stock	0				0	(10,639,850)
Purchase of common stock	0				(34,000,000)	0
Net cash provided by (used in) financing activities	(2,000,000)				(558,157)	(3,018,807)
Effect of exchange rate changes on cash	(15,196)				(149,884)	(64,403)
Net Change in Cash	6,387,489				18,675,627	(682,342)
Cash - Beginning	37,601,096		$ 43,988,585	$ 37,601,096	18,925,469	19,607,811
Cash - Ending	43,988,585	$ 18,925,469			37,601,096	18,925,469
Supplemental disclosures of cash flow information:
Cash paid for interest	658,888				6,764,648	3,274,862
Cash paid for taxes	0				155,000	126,000
Non-Cash investing and financing activities:
Agent businesses acquired in exchange for receivables	0				342,876	0
Dividends paid in-kind	$ 0				$ 0	$ 189,187

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

12 Months Ended

Dec. 31, 2017

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS [Abstract]

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

FinTech Acquisition Corp. II (the “Company”), is a blank check company incorporated in Delaware on May 28, 2015. The Company was formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business transaction, one or more operating businesses or assets (a “Business Combination”). In connection with the proposed acquisition of Intermex Holdings II, Inc. (“Intermex”) (see Note 10), the Company formed two wholly-owned subsidiaries, FinTech II Merger Sub Inc., which was incorporated in Delaware in November 2017 (“Merger Sub I”), and FinTech II Merger Sub 2 LLC, which was formed in Delaware in November 2017 (“Merger Sub II”). Both Merger Sub I and Merger Sub II did not have any activity as of December 31, 2017. The Company has neither engaged in any operations nor generated operating revenues to date.

At December 31, 2017, the Company had not yet commenced operations. All activity through December 31, 2017 relates to the Company’s formation and its Initial Public Offering, which is described below, and identifying a target company for a Business Combination and activities in connection with the proposed acquisition of Intermex, described in Note 10.

The registration statement for the Company’s initial public offering (“Initial Public Offering”) was declared effective on January 19, 2017. On January 25, 2017, the Company consummated the Initial Public Offering of 17,500,000 units (“Units” and, with respect to the common stock included in the Units being offered, the “Public Shares”), which includes a partial exercise by the underwriters of their over-allotment option in the amount of 2,200,000 Units at $10.00 per Unit, generating gross proceeds of $175,000,000, which is described in Note 3.

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 420,000 units (the “Placement Units”) at a price of $10.00 per Unit in a private placement to the Company’s sponsor, FinTech Investors Holding II, LLC (the “Sponsor”), and Cantor Fitzgerald & Co., the representative of the underwriters for the Initial Public Offering (“Cantor”), generating gross proceeds of $4,200,000, which is described in Note 4.

Transaction costs amounted to $12,912,088, consisting of $3,060,000 of underwriting fees, $9,190,000 of deferred underwriting fees payable (which are held in the Trust Account (defined below)) and $662,088 of Initial Public Offering costs. As described in Note 6, the $9,190,000 deferred underwriting fee payable is contingent upon the consummation of a Business Combination by January 25, 2019. As described in Note 6, the $25,000 of deferred legal fees are payable upon the earlier of an initial Business Combination or liquidation of the Company.

Following the closing of the Initial Public Offering on January 25, 2017, an amount of $175,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the Placement Units was placed in a trust account (“Trust Account”) and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 180 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of paragraphs (d)(2), (d)(3) and (d)(4) of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the consummation of a Business Combination, (ii) the redemption of any Public Shares in connection with a stockholder vote to amend the Company’s Amended and Restated Certificate of Incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if it does not complete a Business Combination by January 25, 2019 (the “Combination Period”); or (iii) the distribution of the Trust Account, as described below, if the Company is unable to complete a Business Combination within the Combination Period or upon any earlier liquidation of the Company.

The Company’s management has broad discretion with respect to the specific application of the net proceeds of its Initial Public Offering and Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. Nasdaq Capital Market (“NASDAQ”) rules provide that the Company’s initial Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80% of the balance in the Trust Account (less any deferred underwriting commissions and taxes payable on interest earned) at the time of the signing of a definitive agreement in connection with a Business Combination. However, the Company will only complete a Business Combination if the post-Business Combination company owns or acquires a majority of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There is no assurance that the Company will be able to successfully effect a Business Combination.

The Company will provide its stockholders with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public stockholders will be entitled to redeem their shares for a pro rata portion of the amount then on deposit in the Trust Account ($10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company for working capital purposes or to pay its tax obligations). The per-share amount to be distributed to public stockholders who redeem their Public Shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriters (as discussed in Note 6). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. In such case, the Company will proceed with a Business Combination if the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination and a majority of the outstanding shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by law and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to its Amended and Restated Certificate of Incorporation, conduct the redemptions pursuant to the tender offer rules of the Securities and Exchange Commission (“SEC”), and file tender offer documents with the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or the Company decides to obtain stockholder approval for business or other legal reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks stockholder approval in connection with a Business Combination, the Sponsor, Daniel Cohen, Betsy Cohen, DGC Family FinTech Trust, Swarthmore Trust of 2016, James J. McEntee, III, Shami Patel and Jeremy Kuiper (together the “Initial Stockholders”), have agreed to vote their Founder Shares (as defined in Note 5), Placement Shares (as defined in Note 4) and any Public Shares held by them in favor of approving a Business Combination. Cantor has not committed to vote any shares held by it in favor of a Business Combination.

The Company will have until the expiration of the Combination Period to consummate its Business Combination. If the Company is unable to consummate a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purposes of winding up of its affairs; (ii) distribute the aggregate amount then on deposit in the Trust Account, including any portion of the interest earned thereon which was not previously used for working capital or to pay dissolution expenses or taxes, pro rata to the public stockholders by way of redemption of the Public Shares (which redemption would completely extinguish such holders’ rights as stockholders, including the right to receive further liquidation distributions, if any); and (iii) as promptly as possible following such redemption, dissolve and liquidate the balance of the Company’s net assets to its remaining stockholders, as part of its plan of dissolution and liquidation.

The Company will also provide its stockholders with the opportunity to redeem all or a portion of their Public Shares in connection with any stockholder vote to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation that would affect the substance or timing of the Company’s obligation to redeem 100% of Public Shares if it does not complete a Business Combination within the Combination Period. The stockholders will be entitled to redeem their shares for a pro rata portion of the amount then on deposit in the Trust Account ($10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company for working capital purposes or to pay its tax obligations). There will be no redemption rights with respect to the Company’s warrants in connection with such a stockholder vote to approve such an amendment to the Company’s Amended and Restated Certificate of Incorporation. Notwithstanding the foregoing, the Company may not redeem shares in an amount that would cause its net tangible assets to be less than $5,000,001. The Initial Stockholders have agreed to vote their Founder Shares, Placement Shares and any Public Shares held by them in favor of any such amendment.

The Initial Stockholders and Cantor have agreed to waive their redemption rights with respect to the Founder Shares and Placement Shares (defined below) (i) in connection with the consummation of a Business Combination, (ii) in connection with a stockholder vote to amend the Company’s Amended and Restated Certificate of Incorporation to modify the substance or timing of the Company’s obligation to redeem 100% of its public shares if it does not complete a Business Combination within the Combination Period, and (iii) if the Company fails to consummate a Business Combination within the Combination Period or upon the Company’s liquidation prior to the expiration of the Combination Period. The Initial Stockholders have also agreed to waive their redemption rights with respect to Public Shares in connection with a Business Combination and in connection with a stockholder vote to amend the Company’s Amended and Restated Certificate of Incorporation to modify the substance or timing of its obligation to redeem 100% of its Public Shares if it does not complete a Business Combination within the Combination Period. However, the Initial Stockholders will be entitled to redemption rights with respect to any Public Shares held by them if the Company fails to consummate a Business Combination or liquidates within the Combination Period. Cantor will have the same redemption rights as a public stockholder with respect to any Public Shares it acquires, however, Cantor has informed the Company that it has no current commitments, plans or intentions to acquire Public Shares for its own account. The underwriters have agreed to waive their rights to deferred underwriting commissions held in the Trust Account in the event the Company does not consummate a Business Combination within the Combination Period and, in such event, such amounts will be included with the funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets) will be less than the initial public offering price per Unit in the Initial Public Offering. Placing funds in the Trust Account may not protect those funds from third party claims against the Company. Although the Company will seek to have all vendors, service providers, prospective target businesses or other entities it engages, execute agreements with the Company waiving any claim of any kind in or to any monies held in the Trust Account, there is no guarantee that such persons will execute such agreements. The Company’s Chief Executive Officer has agreed that he will be liable under certain circumstances to ensure that the proceeds in the Trust Account are not reduced by the claims of target businesses or vendors or other entities that are owed money by the Company for service rendered, contracted for or products sold to the Company. However, he may not be able to satisfy those obligations should they arise.

Notwithstanding the foregoing redemption rights, if the Company seeks stockholder approval of its Business Combination and it does not conduct redemptions in connection with its Business Combination pursuant to the tender offer rules, the Company’s Amended and Restated Certificate of Incorporation provides that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended, or the Exchange Act), will be restricted from redeeming its shares with respect to an aggregate of 20.0% or more of the shares sold in the Initial Public Offering. However, there is no restriction on the Company’s stockholders’ ability to vote all of their shares for or against a Business Combination.

Intermex Holdings, Inc. and Subsidiaries [Member]

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS [Abstract]

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

NOTE 1 — BUSINESS AND CONSOLIDATION OF OPERATIONS

Intermex Holdings, Inc. (the “INC”) was formed as a Delaware company on March 27, 2006. The consolidated financial statements include the INC, its wholly-owned subsidiary, Intermex Wire Transfer, LLC (the “LLC”), Intermex Wire Transfers de Guatemala, S.A. (“Guatemala”) — 99.8% owned by LLC, Intermex Wire Transfer de Mexico, S.A. — 98% owned by LLC, Intermex Transfers de Mexico, S.A. — 98% owned by LLC, Intermex Wire Transfer Corp. — 100% owned by LLC and Intermex Wire Transfer II, LLC — 100% owned by LLC (collectively, the “Company”).

The INC is a wholly-owned indirect subsidiary of InterWire Topco, LLC (“Interwire LLC”), a company formed on December 21, 2015 for the purpose of funding the acquisition of the Company by Stella Point Capital, LLC (“Stella Point”) discussed in further detail in Note 3.

In connection with the acquisition of the Company by Stella Point, the Company applied “push-down” accounting and the assets and liabilities were adjusted to fair value on the closing date of the transaction, February 1, 2017. As a result, the Company’s consolidated financial statement presentation distinguishes between a predecessor period (“Predecessor”), for periods prior to the transaction, and a successor period (“Successor”), for periods subsequent to the transaction. The Successor’s consolidated financial statements reflect a new basis of accounting that is based on the fair value of assets acquired and liabilities assumed as of the transaction date. The consolidated financial statements presented herein are those of Successor from its inception on February 1, 2017 through December 31, 2017, and those of Predecessor for all periods prior to the transaction date.

Non-controlling interest in the results of operations of consolidated subsidiaries represents the minority stockholders’ share of the profit or (loss) of Intermex Wire Transfer de Mexico, S.A., Intermex Transfers de Mexico, S.A. (“Mexico”) and Intermex Wire Transfers de Guatemala, S.A. (“Guatemala”). Non-controlling interest in the portion of the profit or (loss) from operations of these subsidiaries amounted to $3,053 for the Successor period from February 1, 2017 through December 31, 2017 and $548, $3,696 and $2,458 for the Predecessor periods from January 1, 2017 through January 31, 2017 and the years ended December 31, 2016 and 2015, respectively. Non-controlling interest asset as of December 31, 2017 for the Successor period and December 31, 2016 for the Predecessor period amounted to $6,813 and $3,134, respectively. These amounts were not recorded by the Company as they are considered insignificant.

The Company operates as a money transmitter, primarily between the United States of America and Mexico, Guatemala and other countries in Latin America through a network of authorized agents located in various unaffiliated retail establishments throughout the United States of America.

The accompanying consolidated financial statements include the accounts of the INC and its subsidiaries. All significant inter-company balances and transactions have been eliminated from the consolidated financial statements. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

Restatements

Previously, all finite-lived intangibles (see Note 6) were amortized on a straight-line basis. However, as the economic benefits expected from the agent relationships lessen over time, during 2017 the Company determined it was more appropriate to amortize the agent relationships based on an accelerated method. The Company believes this better matches the amortization expense with the economic benefits expected to be received from the agent relationships rather than recognizing the expense on a straight-line method. As a result, intangible assets, net were overstated and depreciation and amortization expense was misstated in prior years. Therefore, the Company has restated its consolidated financial statements for the correction and the effect is shown in the tables below in the “Amortization” adjustment column.

In 2017, the Company determined that the deferred tax asset utilization analysis as of December 31, 2014 did not properly extend until the expiration of the net operating loss carryforwards. Therefore, the valuation allowance for the deferred tax asset related to the net operating loss carryforwards was overstated and the provision for income tax benefit was understated in 2014 by $12,969,232. In addition, the provision for income tax benefit was overstated in 2015 as the Company had corrected this error in 2015 instead of properly correcting it in 2014. The error has been corrected by restating the Predecessor Company December 31, 2014 accumulated deficit balance in the consolidated statements of changes in stockholder’s equity and provision for income tax (benefit) expense for the year ended December 31, 2015 in the consolidated statements of operations and comprehensive (loss) income. These adjustments are shown in the “Deferred Tax” adjustment column below.

The following tables summarize the impact of these restatements on the Company’s consolidated financial statements:

a.	Consolidated Balance Sheet

	Impact of Correction of Errors
	As			Adjustments
	previously reported			Amortization			Deferred Tax		As Restated
Balance at December 31, 2016 (Predecessor Company)
Intangible assets, net	$	8,508,502		$	(2,160,868	)	$	—	$	6,347,634
Deferred tax asset, net	$	26,979,233		$	836,879		$	—	$	27,816,112
Total assets	$	120,097,941		$	(1,323,989	)	$	—	$	118,773,952
Accumulated deficit	$	(66,226,984	)	$	(1,323,989	)	$	—	$	(67,550,973	)
Total stockholder's equity		4,582,532		$	(1,323,989	)	$	—	$	3,258,543

b.	Consolidated Statements of Operations and Comprehensive (Loss) Income

	Impact of Correction of Errors
	As			Adjustments
	previously reported			Amortization			Deferred Tax			As Restated
For the year ended December 31, 2016 (Predecessor Company)
Depreciation and amortization	$	4,341,933		$	(1,811,599	)	$	—		$	2,530,334
Provision for income tax expense	$	3,382,044		$	701,611		$	—		$	4,083,655
Net income	$	8,290,038		$	1,109,988		$	—		$	9,400,026
Comprehensive income	$	8,399,958		$	1,109,988		$	—		$	9,509,946

For the year ended December 31, 2015 (Predecessor Company)
Depreciation and amortization	$	4,296,041		$	(1,842,587	)	$	—		$	2,453,454
Provision for income tax (benefit) expense	$	(9,491,201	)	$	713,612		$	12,969,232		$	4,191,643
Net income	$	17,598,081		$	1,128,975		$	(12,969,232	)	$	5,757,824
Comprehensive income	$	17,541,499		$	1,128,975		$	(12,969,232	)	$	5,701,242

c.	Consolidated Statements of Changes in Stockholder’s Equity

	Impact of Correction of Errors
	As			Adjustments
		previously reported		Amortization			Deferred Tax		As Restated
Balance at December 31, 2014 (Predecessor Company)
Accumulated deficit	$	(92,115,103	)	$	(3,562,952	)	$	12,969,232	$	(82,708,823	)
Total stockholder’s equity	$	42,587,357		$	(3,562,952	)	$	12,969,232	$	51,993,637

Balance at December 31, 2015 (Predecessor Company)
Accumulated deficit	$	(74,517,022	)	$	(2,433,977	)	$	—	$	(76,950,999	)
Total stockholder’s equity	$	31,407,006		$	(2,433,977	)	$	—	$	28,973,029

Balance at December 31, 2016 (Predecessor Company)
Accumulated deficit	$	(66,226,984	)	$	(1,323,989	)	$	—	$	(67,550,973	)
Total stockholder’s equity	$	4,582,532		$	(1,323,989	)	$	—	$	3,258,543

d.	Consolidated Statements of Cash Flows

	Impact of Correction of Errors
	As			Adjustments
	previously reported			Amortization			Deferred Tax			As Restated
For the year ended December 31, 2016 (Predecessor Company)
Net income	$	8,290,038		$	1,109,988		$	—		$	9,400,026
Depreciation and amortization	$	4,341,933		$	(1,811,599	)	$	—		$	2,530,334
Deferred taxes	$	3,017,332		$	701,611		$	—		$	3,718,943
Net cash provided by operating activities	$	22,395,778		$	—		$	—		$	22,395,778

For the year ended December 31, 2015 (Predecessor Company)
Net income	$	17,598,081		$	1,128,975		$	(12,969,232	)	$	5,757,824
Depreciation and amortization	$	4,296,041		$	(1,842,587	)	$	—		$	2,453,454
Deferred taxes	$	(9,711,359	)	$	713,612		$	12,969,232		$	3,971,485
Net cash provided by operating activities	$	4,465,445		$	—		$	—		$	4,465,445

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2017

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying consolidated financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

In connection with the Company's assessment of going concern considerations in accordance with the Financial Accounting Standard Board's Accounting Standards Update ("ASU") 2014-15, "Disclosures of Uncertainties about an Entity's Ability to Continue as a Going Concern," management has determined that the mandatory liquidation and subsequent dissolution raises substantial doubt about the Company's ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the Company be required to liquidate after January 25, 2019.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Emerging growth company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

Further, section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expense during the reporting periods.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and cash equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of December 31, 2017 and 2016.

Cash and marketable securities held in Trust Account

At December 31, 2017, the assets held in the Trust Account were held in cash and U.S. Treasury Bills.

Common stock subject to possible redemption

The Company accounts for its common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Common stock subject to mandatory redemption (if any) is classified as a liability instrument and is measured at fair value. Conditionally redeemable common stock (including common stock that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, at December 31, 2017, 16,112,706 shares of common stock subject to possible redemption is presented as temporary equity, outside of the stockholders’ equity section on the Company’s consolidated balance sheet.

Offering costs

Offering costs consist principally of legal, accounting and underwriting costs incurred that were directly related to the Initial Public Offering. Offering costs amounting to $12,912,088 were charged to stockholders’ equity upon completion of the Initial Public Offering.

Income taxes

The Company complies with the accounting and reporting requirements of ASC Topic 740 “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2017 and 2016. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

The Company may be subject to potential examination by federal, state, and city taxing authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, and compliance with federal, state, and city tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.

Net loss per common share

The Company complies with the accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding for the period, excluding shares of common stock forfeited by certain of the Company’s Initial Shareholders on January 25, 2017. Shares of common stock subject to possible redemption at December 31, 2017 have been excluded from the calculation of basic loss per share since such shares, if redeemed, only participate in their pro rata share of the Trust Account earnings. The Company has not considered the effect of warrants to purchase 8,960,000 shares of common stock in the calculation of diluted loss per share, since the exercise of the warrants is contingent upon the occurrence of future events. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented.

Concentration of credit risk

Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000. At December 31, 2017 and 2016, the Company had not experienced losses on this account and management believes the Company is not exposed to significant risks on such account.

Fair value of financial instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying consolidated balance sheets, primarily due to their short-term nature.

Recently issued accounting standards

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

Intermex Holdings, Inc. and Subsidiaries [Member]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Reclassifications

Certain reclassifications have been made to prior-year amounts in the consolidated balance sheets and consolidated statements of operations and comprehensive (loss) income to conform to current-year reporting classifications. These reclassifications had no impact on net (loss) income, comprehensive (loss) income or stockholder’s equity.

Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual results could differ from these estimates.

Cash

Cash is comprised of deposits in U.S. and foreign banks. The Company recognizes interest income from its cash deposits on an accrual basis. The Company considers cash equivalents to be short term, highly liquid investments with maturities of three months or less.

Concentration of Credit Risk

The Company maintains certain of its cash balances in various U.S. banks, which at times, may exceed federally insured limits. The amount that exceeded the federally insured limits totaled $31,739,808 at December 31, 2017 of the Successor period and $22,322,423 at December 31, 2016 of the Predecessor period. The Company has not incurred any losses on these accounts. In addition, the Company maintains various bank accounts in Mexico and Guatemala, which are not insured. The Company has not incurred any losses on these uninsured foreign bank accounts, and management believes it is not exposed to any significant credit risk regarding these accounts. Cash balances were as follows at December 31:

	Successor Company 2017		Predecessor Company 2016
Cash in U.S. dollars in U.S. banks	$	55,375,471	$	34,437,494
Cash in foreign banks and foreign currency		3,774,454		3,159,019
Petty cash		5,693		4,583
	$	59,155,618	$	37,601,096

Revenue Recognition

Revenues for wire transfer and money order fees are recognized at the time the transaction is processed. These fees are recognized on a gross basis equal to the full amount of the fee charged to the customer as the Company is the primary obligor and has latitude in establishing price. Foreign exchange revenue, which represents the difference between the exchange rate set by the Company and the rate realized, is recognized upon the disbursement of U.S. dollars to the foreign bank. Other income primarily represents revenues for technology services provided to the independent network of agents who utilize the Company’s technology in processing transactions. Revenues for these transactions are recorded when persuasive evidence of an arrangement exists, delivery has occurred, or services have been rendered and collection is reasonably assured.

Business Combinations

The Company accounts for its business combinations using the acquisition method, which requires that intangible assets be recognized apart from goodwill if they are contractual in nature or separately identifiable. Acquisitions are measured on the fair value of consideration exchanged and, if the consideration given is not cash, measurement is based on the fair value of the consideration given or the fair value of the assets acquired, whichever is more reliably measurable. The excess of cost of an acquired entity over the fair value of identifiable acquired assets and liabilities assumed is allocated to goodwill.

The valuation and allocation processes rely on significant assumptions made by management. In certain situations, the allocations of excess purchase price are based upon preliminary estimates and assumptions. Accordingly, the allocations are subject to revision when the Company receives updated information, including valuations and other analyses, which are completed within one year of the acquisition. Revisions to the fair values, which may be significant, are recorded when pending information is finalized, within one year from the acquisition date.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are recorded upon initiation of the wire transfer and are typically due to the Company within five days. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. When preparing these estimates, management considers a number of factors, including the aging of a customer’s account, creditworthiness of specific customers, historical trends and other information. The Company reviews its allowance for doubtful accounts policy periodically, reflecting current risks and changes in industry conditions and when necessary, will increase its allowance for doubtful accounts and recognize a provision to bad debt expense, included in other selling, general and administrative expenses in the consolidated statements of operations and comprehensive (loss) income.

Prepaid Expenses and Other Assets

Prepaid wires represent funds that are required at certain payer agent locations in advance of a transaction, which are typically utilized within a few days. Other prepaid expenses, other current assets and other assets consist primarily of prepaid expenses, notes receivable (see Note 4), and restricted cash. Interest income on notes receivable is recognized on a cash basis due to uncertainty on receiving the interest payments. The restricted cash is maintained by a United States Bank and is cash collateral for an irrevocable stand-by letter of credit in the amount of $639,662 issued as collateral for the operating lease of the Company’s headquarters and recorded in other assets at December 31, 2017 of the Successor period and December 31, 2016 of the Predecessor period, in the consolidated balance sheets.

Property and Equipment

Property and equipment, including leasehold improvements, are stated at cost, or the allocated fair value in purchase accounting, less accumulated depreciation and amortization. The costs of additions and betterments that substantially extend the useful life of an asset are capitalized and the expenditures for ordinary repairs and maintenance are expensed in the period incurred as part of other selling, general and administrative expenses in the consolidated statements of operations and comprehensive (loss) income. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the life of the lease or the estimated useful life of the improvement, whichever is shorter. At the time depreciable assets are retired or otherwise disposed, the cost and the related accumulated depreciation of such assets are eliminated from the accounts and any gain or loss is recognized in the current period. The Company capitalizes costs incurred for the development of internal use computer software, which are depreciated over five years using the straight-line method.

Goodwill and Other Intangible Assets

Goodwill and other intangible assets result primarily from business combination acquisitions, including the Stella Point acquisition discussed in Note 3. Other intangible assets include trade name, agent relationships, developed technology and other intangibles, all with finite lives. Upon the acquisition, the purchase price is first allocated to identifiable assets and liabilities, including the trade name and other intangibles, with any remaining purchase price recorded as goodwill.

Goodwill is not amortized, rather, impairment tests are conducted on an annual basis, at the beginning of the fourth quarter, or more frequently if indicators of impairment are present. A qualitative assessment of goodwill was performed in 2017 subsequent to the Stella Point acquisition on February 1, 2017 (see Note 3). Qualitative assessment includes consideration of the economic, industry and market conditions in addition to the overall financial performance of the Company and these assets. Based on the results of assessment, no indicators of impairment were noted. Accordingly, no further impairment testing was completed, and no impairment charges related to goodwill were recognized during the Successor period from February 1, 2017 through December 31, 2017.

The Company’s trade name, agent relationships and developed technology are currently amortized utilizing an accelerated method over their estimated useful lives of 15 years. Other intangible assets are amortized on a straight-line basis over a useful life of 10 years. Refer to Note 1 for a discussion of the restatement of prior periods related to the correction of an error for the amortization of agent relationships. The Company reviews for impairment indicators of finite-lived intangibles and other long-lived assets as described below in “Impairment of Long-Lived Assets.”

Impairment of Long-Lived Assets

The Company evaluates long-lived assets, including amortizable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Upon such an occurrence, recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to forecasted undiscounted future net cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. For long-lived assets held for sale, assets are written down to fair value, less cost to sell. Fair value is determined based on discounted cash flows, appraised values or management’s estimates, depending upon the nature of the assets. There were no impairment indicators noted for all periods presented in the consolidated financial statements for long-lived assets, including amortizable intangible assets.

Debt Issuance Costs

During August 2017, the Company capitalized costs totaling $4,682,830 for the Successor period from February 1, 2017 through December 31, 2017 relating to its debt issuance (see Note 8) and is amortizing these costs over the life of the related debt using the straight-line method, which approximates the effective interest method. The Company incurred and capitalized debt issuance costs of $2,315,992 and $2,789,288 for the Predecessor years ended December 31, 2016 and 2015, respectively. There were no debt issuance costs incurred for the Predecessor period from January 1, 2017 through January 31, 2017. The unamortized portion of debt issuance costs is recorded on the consolidated balance sheets as an offset to the related debt and totaled $4,347,602 at December 31, 2017 for the Successor period and $1,967,380 at December 31, 2016 for the Predecessor period. Amortization of debt issuance costs is included as a component of interest expense in the consolidated statements of operations and comprehensive (loss) income and amounts to $335,221 for the Successor period from February 1, 2017 through December 31, 2017, and $39,298, $2,670,976 and $741,450 for the Predecessor periods from January 1, 2017 through January 31, 2017 and years ended December 31, 2016 and 2015, respectively. The amortization of debt issuance costs includes the write off of debt issuance costs associated with previous debt issuance of $2,322,372 and $274,534 for the Predecessor years ended December 31, 2016 and 2015, respectively. Debt issuance costs of $1,928,089 related to debt that was assumed by the Successor Company in connection with the Stella Point acquisition (see Note 3) was written off to goodwill at the February 1, 2017 acquisition date.

Advertising Costs

Advertising costs are included in other selling, general and administrative expenses in the consolidated statements of operations and comprehensive (loss) income and are expensed as incurred. The Company incurred advertising costs of $1,653,596 for the Successor period from February 1, 2017 through December 31, 2017, and $96,404, $1,124,210 and $720,030 for the Predecessor periods from January 1, 2017 through January 31, 2017 and years ended December 31, 2016 and 2015, respectively.

Income Taxes

The Company accounts for income taxes in accordance with U.S. generally accepted accounting principles which require, among other things, recognition of future tax benefits measured at enacted rates attributable to deductible temporary differences between financial statement and income tax bases of assets and liabilities and to tax net operating loss carryforwards to the extent that realization of said benefits is more likely than not.

The Company accounts for tax contingencies by assessing all material positions, including all significant uncertain positions, for all tax years that are open to assessment or challenge under tax statutes. Those positions that have only timing consequences are separately analyzed based on the recognition and measurement model provided in the tax guidance.

As required by the uncertain tax position guidance, the Company recognizes the financial statement benefit of a position only after determining that the relevant tax authority would more likely than not sustain the positions following an audit. For tax positions meeting the more likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. With few exceptions, the Company is no longer subject to U.S. federal or state and local income tax examinations by tax authorities for the years before 2011. The Company applies the uncertain tax position guidance to all tax positions for which the statute of limitations remains open. The Company’s policy is to classify interest accrued as interest expense and penalties as operating expenses. The Company does not have any material uncertain tax positions.

Foreign subsidiaries of the Company are subject to taxes by local tax authorities.

Foreign Currency Translation

The financial statements and transactions of the Company’s foreign operations are maintained in their functional currency, which is other than the U.S. dollar. Assets and liabilities are translated at current exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average exchange rate for each period. Translation adjustments, which result from the process of translating the financial statements of the Company’s foreign operations into U.S. dollars, are recorded as a component of accumulated other comprehensive loss.

(Losses) or gains from foreign currency transactions amounted to $(17,044) for the Successor period from February 1, 2017 through December 31, 2017, and $11,608, $1,055 and $20,948 for the Predecessor periods from January 1, 2017 through January 31, 2017 and years ended December 31, 2016 and 2015, respectively, and are included in other selling, general and administrative expenses in the consolidated statements of operations and comprehensive (loss) income.

Derivative Instruments

The Company enters into forward foreign exchange contracts to manage the risk associated with currency fluctuations on settlement of wire transfers in foreign currencies. The Company’s forward foreign exchange contracts are denominated in Mexican pesos and Guatemalan quetzals and are for a maximum of five days. The Company’s accounting policy has been not to record the fair value of these contracts in the consolidated balance sheets as management has determined that the amounts are insignificant. Losses or gains from forward foreign exchange contract transactions are recorded in foreign exchange revenue but the amounts are insignificant for the periods presented. The Company had open forward foreign exchange contracts with notional amounts of approximately $8,200,000 and $8,100,000 at December 31, 2017 of the Successor period and $1,500,000 and $6,850,000 at December 31, 2016 of the Predecessor period for Mexico and Guatemala, respectively.

Comprehensive (Loss) Income

Comprehensive (loss) income consists of net income (loss) and the foreign currency translation adjustment and is presented in the consolidated statements of operations and comprehensive (loss) income.

Share-Based Compensation

The Company accounts for its share-based employee compensation expense related to incentive units, restricted stock grants and stock options under generally accepted accounting principles, which requires the measurement and recognition of compensation costs for all equity-based payment awards made to employees and directors based on estimated fair values. See Note 12 for further discussion related to share-based compensation.

Segments

The Company’s business is organized around one reportable segment that provides money transmittal services between the USA and Latin America. This is based on the objectives of the business and how our chief operating decision maker, the CEO and President, monitors operating performance and allocates resources.

Accounting Pronouncements

The Financial Accounting Standards Board (the “FASB”) issued guidance, Presentation of Financial Statements — Going Concern, which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the consolidated financial statements are issued and to provide related disclosures. On December 31, 2017, the Company adopted this guidance, and it did not have a material impact on the consolidated financial statements.

The FASB issued guidance, Revenue from Contracts with Customers, which amended the existing accounting standards for revenue recognition. The new guidance establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. This guidance is required to be adopted by the Company in the first quarter of 2019 and can be applied using either a retrospective or a modified retrospective approach. The Company is currently assessing the impact this guidance will have on its consolidated financial statements.

The FASB issued amended guidance, Business Combinations — Clarifying the Definition of a Business, which assists entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is required to be adopted by the Company in the first quarter of 2019 on a prospective basis, and the Company does not believe it will have a material impact on the consolidated financial statements.

The FASB issued guidance, Leases, to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous U.S. generally accepted accounting principles. The guidance requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. This guidance is required to be adopted by the Company in the first quarter of 2020 and must be applied using a modified retrospective approach. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements.

The FASB issued guidance, Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, all excess tax benefits and tax deficiencies are recorded as a component of the provision for income taxes in the reporting period in which they occur. Additionally, the guidance requires that the Company present excess tax benefits on the statement of cash flows as an operating activity. The Company plans to adopt this guidance in the first quarter of 2018 and does not expect the impact of this adoption on its consolidated financial statements to be material.

The FASB issued amended guidance, Statement of Cash Flows — Classification of Certain Cash Receipts and Cash Payments, which clarifies how certain cash receipts and cash payments are presented and classified in the consolidated statements of cash flows. The amendments are aimed at reducing the existing diversity in practice. This guidance is required to be adopted by the Company in the first quarter of 2019 and must be applied using a retrospective approach for each period presented. The adoption of this guidance is not expected to have a material impact on the consolidated financial statements.

The FASB issued amended guidance, Restricted Cash, which requires restricted cash to be presented with cash and cash equivalents in the consolidated statements of cash flows. The amended guidance is effective for fiscal years beginning after December 15, 2017 (including interim periods within those periods). The Company will adopt this guidance in the first quarter of 2018 using a retrospective transition method for each period presented and does not expect the impact of this adoption on its consolidated financial statements to be material.

The FASB issued amended guidance, Intangibles — Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment. The amended standard simplifies how an entity tests goodwill by eliminating Step 2 of the goodwill impairment test related to measuring an impairment charge. Instead impairment will be recorded for the amount that the carrying amount of a reporting unit exceeds its fair value. The new guidance is effective for the Company beginning in fiscal 2020. The adoption of this guidance is not expected to have a material impact on the consolidated financial statements.

ACQUISITION BY STELLA POINT

12 Months Ended

Dec. 31, 2017

Intermex Holdings, Inc. and Subsidiaries [Member]

ACQUISITION BY STELLA POINT [Abstract]

ACQUISITION BY STELLA POINT

NOTE 3 — ACQUISITION BY STELLA POINT

On February 1, 2016, the Company and its majority owner at the time, Linsday Goldberg LLC, entered into an agreement with Stella Point, acquirer, for the sale of the Company. This acquisition was accounted for as a business combination and became effective on February 1, 2017 for a transaction price of $52,000,000 in cash, plus $12,410,000 of rollover equity from certain existing management holders, the assumption of approximately $78,000,000 of the Company’s outstanding debt and an additional funding of $5,000,000 of Company debt. There was no contingent consideration in the transaction. As a result, Stella Point acquired 80.7% of the voting equity interest in the Company and other minority stockholders acquired the remaining interest, none individually greater than 10%. The purchase price in excess of the fair value of acquired assets was accounted for as goodwill as discussed further below.

Net Assets Acquired

The acquisition method for a business combination requires that the assets acquired and liabilities assumed be recognized at their allocated fair values as of the February 1, 2017 acquisition date, which is summarized below:

	Successor Company
Cash	$	43,064,931
Accounts receivables		27,183,489
Prepaid and other current assets		560,934
Property and equipment		6,328,146
Other assets		1,345,562
Total tangible assets acquired		78,483,062
Intangible assets acquired		62,660,000
Deferred tax asset, net		2,118,801
Less: Liabilities assumed		(115,111,529	)
Net assets		28,150,334

Goodwill		36,259,666
Total purchase price	$	64,410,000

The intangible assets acquired consist primarily of a trade name, agent relationships and developed technology. The excess of the purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill which is attributable to the workforce and reputation of Intermex. The accounting for this business combination has been completed, therefore the measurement period is closed. The Company does not expect goodwill to be deductible for income tax purposes.

Acquisition-Related Costs

Direct costs related to the Stella Point acquisition are expensed as incurred and included as “transaction costs” in the consolidated statements of operations and comprehensive (loss) income. Such costs amounted to $6,212,602 for the Successor period from February 1, 2017 through December 31, 2017, and $3,917,188, $900,530 and $1,609,034 for the Predecessor periods from January 1, 2017 through January 31, 2017 and the years ended December 31, 2016 and 2015, respectively. The remaining transaction costs on the consolidated statements of operations and comprehensive (loss) income for the Successor period from February 1, 2017 through December 31, 2017 in the amount of $2,492,899 relate to the anticipated merger with FinTech (see Note 15 for further discussion). These costs include all internal and external costs directly related to the transaction, consisting primarily of legal, consulting, accounting, advisory fees and certain incentive bonuses directly related to the transaction.

NOTES RECEIVABLE

12 Months Ended

Dec. 31, 2017

Intermex Holdings, Inc. and Subsidiaries [Member]

NOTES RECEIVABLE [Abstract]

NOTES RECEIVABLE

NOTE 4 — NOTES RECEIVABLE

The Company had notes receivable from agents at December 31 as follows:

		Successor Company 2017			Predecessor Company 2016
Notes receivable, current	$	740,068		$	525,440
Allowance		(434,210	)		(313,696	)
Net current	$	305,858		$	211,744

Notes receivable, long-term		608,396			444,981
Allowance		(248,432	)		(209,259	)
Net long-term	$	359,964		$	235,722

The net current portion is included in other prepaid expenses and current assets, and the net long-term portion is included in other assets in the consolidated balance sheets. The notes have interest rates ranging from 0% to 20% per annum. Most of the notes are collateralized by personal guarantees from the sending agents and by assets from their businesses in case of a default by the agent. At December 31, 2017 and 2016, there were $1,079,364 and $789,163, respectively, of notes collateralized.

The maturities of notes receivable at December 31, 2017 for the Successor Company is as follows:

	Unpaid Principal Balance
Under 1 year	$	740,068
Between 1 and 2 years		564,516
Between 2 and 3 years		43,880
Total	$	1,348,464

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2017

Intermex Holdings, Inc. and Subsidiaries [Member]

PROPERTY AND EQUIPMENT, NET [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 5 — PROPERTY AND EQUIPMENT, NET

Property and equipment at December 31 consists of the following:

	Successor Company 2017			Predecessor Company 2016			Estimated Useful Lives (in Years)
Computer software and equipment	$	9,153,855		$	13,057,313		3 to 5
Office improvements		798,130			1,526,350			5
Furniture and fixtures		303,400			1,078,267			7
		10,255,385			15,661,930
Less: Accumulated depreciation		(1,764,591	)		(9,415,483	)
	$	8,490,794		$	6,246,447

Computer software and equipment above includes equipment maintained at locations of agents and used and owned by the Company of $3,775,950 at December 31, 2017 of the Successor period and $5,197,637 at December 31, 2016 of the Predecessor period. Also, it includes development of internal use software of $1,303,645 at December 31, 2017 of the Successor period and $2,731,294 at December 31, 2016 of the Predecessor period. Depreciation expense was $2,086,164 for the Successor period from February 1, 2017 through December 31, 2017, and $151,083, $1,601,389 and $1,268,557 for the Predecessor periods from January 1, 2017 through January 31, 2017 and years ended December 31, 2016 and 2015, respectively.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2017

Intermex Holdings, Inc. and Subsidiaries [Member]

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 6 — GOODWILL AND OTHER INTANGIBLE ASSETS

The gross carrying amount and accumulated amortization at December 31 for goodwill and other intangible assets are as follows:

	Successor Company 2017			Predecessor Company 2016
				As Restated
Indefinite lives:
Goodwill	$	36,259,666		$	—
Trade name		—			5,300,000
Total indefinite lives		36,259,666			5,300,000
Amortizable:
Agent relationships		40,500,000			29,200,000
Trade name		15,500,000
Developed technology		6,600,000			—
Other intangibles		699,689			1,430,224
Accumulated amortization expense		(14,558,657	)		(29,582,590	)
Net amortizable intangibles		48,741,032			1,047,634
Total goodwill and other intangible assets	$	85,000,698		$	6,347,634

Successor Company

The majority of the intangibles on the consolidated balance sheet of the Successor Company were recognized upon the acquisition by Stella Point (see Note 3). The fair value measurements were based on significant inputs, such as the Company’s forecasted revenues, assumed turnover of agent locations, obsolescence assumptions for technology, market discount and royalty rates. These inputs are based on information not observable in the market and represent Level 3 measurements within the fair value hierarchy. Trade name refers to the Intermex name, branded on all agent locations and well recognized in the market. This fair value was determined using the relief-from-royalty method, which is based on the Company’s expected revenues and a royalty rate estimated using comparable market data. As a result of the Stella Point acquisition, the Company determined it was appropriate to assign a finite useful life of 15 years to the trade name. Under the Predecessor Company the trade name was not amortized and was assessed for impairment annually. The Successor Company decided that a finite life would be more appropriate, providing better matching of the amortization expense during the period of expected benefits.

The agent relationships intangible represents the network of over 5,000 independent agents. This intangible was valued using the excess earnings method, which was based on the Company’s forecasts and historical activity at agent locations in order to develop a turnover rate and expected useful life. Assuming a year-over-year location turnover rate of 17.4%, this resulted in an expected useful life for this intangible of 15 years. Developed technology includes the state-of-the-art system that the Company has continued to develop and improve upon over the past 20 years. This intangible was valued using the relief-from-royalty method based on the Company’s forecasted revenues, a royalty rate estimated using comparable market data, an expected obsolescence rate of 18.0% and an estimated useful life of 15 years.

Other intangibles primarily relate to the acquisition of certain agent locations, which are amortized over 10 years. The net book value of these intangibles was $610,859 at December 31, 2017.

The following table presents the changes in goodwill and other intangible assets:

	Goodwill		Other Intangibles
Predecessor Company
Balance at December 31, 2014, as restated	$	—	$	8,119,749
Amortization expense, as restated		—		(1,184,897	)
Effect of exchange rate changes		—		(1,067	)
Balance at December 31, 2015, as restated	$	—	$	6,933,785
Acquisition of agent locations		—		342,876
Amortization expense, as restated		—		(928,945	)
Effect of exchange rate changes		—		(82	)
Balance at December 31, 2016, as restated	$	—	$	6,347,634
Amortization expense		—		(230,663	)
Balance at January 31, 2017	$	—	$	6,116,971

	Goodwill		Other Intangibles
Successor Company
Balance at February 1, 2017	$	36,259,666	$	62,660,000
Acquisition of agent locations		—		639,689
Amortization expense		—		(14,558,657	)
Balance at December 31, 2017	$	36,259,666	$	48,741,032

Amortization expense related to intangible assets for the next five years and thereafter is as follows for the Successor Company:

2018	$	12,458,705
2019		9,320,428
2020		6,902,482
2021		5,112,601
2022		3,952,547
Thereafter		10,994,269
	$	48,741,032

Predecessor Company

The majority of the intangibles on the consolidated balance sheet of the Predecessor Company were recognized in 2006 with the acquisition of Intermex, LLC and consisted primarily of the trade name and agent relationships. The amortization of the agent relationships for the Predecessor Company has been restated to reflect an accelerated method. Previously the Predecessor Company was amortizing on a straight-line basis (see Note 1 for further discussion). The Predecessor Company also had intangibles relating to agent locations acquired, which had a net book value of $691,798 at December 31, 2016 of the Predecessor period.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

ACCRUED AND OTHER LIABILITIES

12 Months Ended

Dec. 31, 2017

Intermex Holdings, Inc. and Subsidiaries [Member]

ACCRUED AND OTHER LIABILITIES [Abstract]

ACCRUED AND OTHER LIABILITIES

NOTE 7 — ACCRUED AND OTHER LIABILITIES

Accrued and other liabilities at December 31 consisted of the following:

	Successor Company 2017		Predecessor Company 2016
Payables to agents	$	6,875,416	$	4,879,360
Compensation accruals		1,092,460		870,856
Accruals for taxes		318,792		163,843
Accrued interest		—		676,806
Other		3,227,781		3,296,070
	$	11,514,449	$	9,886,935

DEBT

12 Months Ended

Dec. 31, 2017

Intermex Holdings, Inc. and Subsidiaries [Member]

DEBT [Abstract]

DEBT

NOTE 8 — DEBT

Debt at December 31 consisted of the following:

	Successor Company 2017			Predecessor Company 2016
Revolving credit facility	$	20,000,000		$	10,000,000
Term loan		95,787,500			70,000,000
		115,787,500			80,000,000
Less: Current portion of long term debt⁽¹⁾		(3,913,436	)		(849,809	)
Less: Debt issuance costs		(4,347,602	)		(1,967,380	)
	$	107,526,462		$	77,182,811

(1)	Current portion of long term debt is net of debt issuance costs of $936,564 at December 31, 2017 of the Successor period and $462,691 at December 31, 2016 of the Predecessor period.

Successor Company Financing Agreement

On August 23, 2017, the Company entered into a Financing Agreement (the “Financing Agreement”) with MC Credit Partners to refinance existing debt discussed further below. The Financing Agreement includes a revolving credit facility that provides for loans up to $20,000,000 in the aggregate. Subject to the terms of the Financing Agreement, interest is determined based on the highest of the LIBOR Rate, commercial lending rate of the collateral agent and federal funds rate, plus an applicable margin. The effective rate at December 31, 2017 of the Successor period was 12.50%. The revolving credit facility is subject to an unused line fee of 0.75% per annum. At December 31, 2017, the Company had $20,000,000 outstanding under this facility with zero accrued interest, and no remaining borrowings available. The total borrowings under this facility and any unpaid interest are fully payable on August 23, 2022.

The Financing Agreement also includes a term loan in the aggregate principal amount of $97,000,000. Subject to the terms of the Financing Agreement, interest is based on the LIBOR Rate plus an applicable margin. The effective rate at December 31, 2017 of the Successor period was 10.46%. The principal amount of the term loan must be repaid in consecutive quarterly installments on the last business day of each March, June, September and December commencing in December 2017. The Company must repay an amount equal to 1.25% of the original amount borrowed for each quarterly payment from December 31, 2017 through September 30, 2019 and 2.50% of the original amount borrowed for each quarterly payment from December 31, 2019 and thereafter. The total borrowings under the term loan are fully payable on August 23, 2022.

The scheduled a