STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 7. 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 in one or more series. The Company’s board of directors will be authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. At March 31, 2015, there were no shares of preferred stock issued or outstanding.

Common Stock - The Company is authorized to issue 29,000,000 shares of Common Stock with a par value of $0.0001 per share. Holders of the Company’s Common Stock are entitled to one vote for each common share. On October 24, 2014, the Sponsors and certain other stockholders of the Company returned to the Company an aggregate of 575,000 founder shares, which were cancelled by the Company. As a result of the underwriters’ determination not to exercise their over-allotment option to purchase additional Units on December 8, 2014, certain of the Company’s initial stockholders forfeited an aggregate of 300,000 shares of Common Stock. As a result of the forfeiture, the Company’s initial stockholders own 20% of the issued and outstanding shares after the Initial Public Offering. At March 31, 2015, there were 2,677,612 shares of common stock issued and outstanding (excluding 7,322,388 shares of common stock subject to possible redemption).

As of December 11, 2014, holders of the Company’s Units were able to separately trade the Common Stock, rights and warrants included in the Units. Those Units not separated continue to trade on NASDAQ under the symbol “HDRAU” and each of the underlying shares of Common Stock, rights and warrants trade on NASDAQ under the symbols “HDRA,” “HDRAR” and “HDRAW,” respectively.