7. STOCKHOLDERS' EQUITY

Preferred Shares — The Company is authorized to issue 1,000,000 preferred shares with a par value of $0.0001 per share. At September 30, 2019 and December 31, 2018, 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 September 30, 2019 and December 31, 2018, there were 4,300,589 and 4,098,712 shares of common stock issued and outstanding, respectively, excluding 3,867,626 and 10,778,788 shares of common stock subject to possible redemption, respectively.