7. STOCKHOLDERS' EQUITY

Preferred Stock — The Company is authorized to issue 1,000,000 preferred shares with a par value of $0.0001 per share. At March 31, 2020 and December 31, 2019, there are no preferred shares issued or outstanding.

Common Stock — The Company is authorized to issue 35,000,000 shares of the Company's common stock with a par value of $0.0001 per share. Holders of the Company's shares of the Company's common stock are entitled to one vote for each share. At March 31, 2020 and December 31, 2019, there were 4,479,278 and 4,458,149 shares of common stock issued and outstanding, respectively, excluding 12,489 and 33,618 shares of common stock subject to possible redemption, respectively.