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Shareholders' Deficit
3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Shareholders' Deficit

5. Shareholders’ Deficit

 

During the three-month period ended March 31, 2019, the Company issued 1,000,000 common shares pursuant to a subscription payable to Consultant with a value of $152,899. During the same period, the Company entered into a share subscription agreement with a consultant of the Company for 1,500,000 common shares valued at $30,000.

 

During the three-month period, Steven Rossi was issued 13,583,397 shares of Franchise Holdings International, Inc common stock as approved by the board of directors, due to a conversion of all 1,000,000 shares of his Series A Preferred stock.

 

In 2018 and 2019, the Company was authorized to issue 49,833,333 shares of its common stock with a par value of $0.0001. All shares were ranked equally with regards to the Company’s residual assets. During 2018 and 2019, the Company was authorized to issue 1,000,000 shares of its Series A Preferred Stock with a par value of $0.0001. These shares have voting rights equal to 299 shares of common stock, per share of preferred.