Note 6 - Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Note

6

- Stockholders’ Equity

Preferred Stock

The Company is authorized to issue

1,000,000

shares of preferred stock with a par value of

$

0.0001

per share with such designation, rights and preferences as

may

be determined from time to time by the Company’s board of directors. At

December 

31,

2019

and

2018,

no

preferred stock is issued or outstanding.

Class A Common Stock

The Company is authorized to issue up to

200,000,000

shares of Class A common stock. If the Company enters into an initial Business Combination, it

may (

depending on the terms of such initial Business Combination) be required to increase the number of shares of Class A common stock which the Company is authorized to issue at the same time as the Company’s stockholders vote on the initial Business Combination to the extent the Company seeks stockholder approval in connection with the initial Business Combination. Holders of the Company’s common stock are entitled to

one

vote for each share of common stock held.

On

October 10, 2019,

the Company’s stockholders approved an extension of the date by which the Company must consummate an initial Business Combination. The Company requested the Extension in order to complete an initial Business Combination. In connection with the extension,

3,594,000

shares of Class A common stock were redeemed, for a total value of

$36,823,301

on

October 11, 2019

and

248,000

public warrants were tendered and accepted for payment on

October 16, 2019.

As of

December 

31,

2019,

and

2018,

there were

37,806,000

shares and

41,400,000

shares, respectively, of Class A common stock issued and outstanding, which were classified outside of permanent equity.

Class B Common Stock

The Company is authorized to issue up to

15,000,000

shares of Class B common stock. At

December 

31,

2019

and

2018,

there were

10,350,000

shares of Class B common stock issued and outstanding.