Nevada
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65-0782227
|
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(State
or other jurisdiction
of
incorporation)
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(IRS
Employer File Number)
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5910
South University Boulevard, C-18, Unit 165
Littleton,
Colorado
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80121-2800
|
|
(Address
of principal executive offices)
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(zip
code)
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Large
accelerated filer
[]
|
Accelerated
filer []
|
Non-accelerated
filer [] (Do not check if a smaller reporting company)
|
Smaller
reporting company [X]
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PART
I FINANCIAL INFORMATION
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Page
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Item
1. Financial Statements for the period ended March
31, 2009
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|
Balance
Sheets
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5
|
Statements of
Operations (Unaudited)
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6
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Statements of
Cash Flows (Unaudited)
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7
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Notes
to Financial Statements
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9
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Item
2. Management’s Discussion and Analysis and Plan of
Operation
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12
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Item
3. Quantitative and Qualitative Disclosures About Market
Risk
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14
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Item
4. Controls and Procedures
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14
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Item
4T. Controls and Procedures
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14
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PART
II OTHER INFORMATION
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|
Item
1. Legal Proceedings
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14
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Item 1A. Risk Factors
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14
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Item
2. Unregistered Sales of Equity Securities and Use of
Proceeds
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17
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Item
3. Defaults Upon Senior Securities
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17
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Item
4. Submission of Matters to a Vote of Security Holders
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17
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Item
5. Other Information
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17
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Item
6. Exhibits
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18
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Signatures
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18
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Page
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FINANCIAL
STATEMENTS
|
|
Balance sheets
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5
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Statements of
operation
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6
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Statements of cash
flows
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7
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Notes to financial
statements
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9
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FRANCHISE
HOLDINGS INTERNATIONAL, INC.
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||||||||
(A
Development Stage Company)
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||||||||
BALANCE
SHEETS
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||||||||
March
31, 2009
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||||||||
Sept.
30, 2008
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(Unaudited)
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|||||||
ASSETS
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||||||||
Total
Assets
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$ | - | $ | - | ||||
LIABILITIES
& STOCKHOLDERS' EQUITY
|
||||||||
Current
liabilities
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||||||||
Accounts
payable
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$ | 71,184 | $ | 635 | ||||
Related
party payables
|
26,775 | 12,322 | ||||||
Notes
payable
|
271,759 | |||||||
Accrued
interest payable
|
238,580 | |||||||
Stock
subscription payable
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18,000 | |||||||
Other
payables
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5,084 | |||||||
Total current
liabilties
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631,382 | 12,957 | ||||||
Total
Liabilities
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631,382 | 12,957 | ||||||
Stockholders'
Equity
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||||||||
Common
stock, $.0001 par value;
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||||||||
20,000,000
shares authorized;
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||||||||
2,840,864
shares issued and outstanding
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284 | 284 | ||||||
Stock
subscription receivable
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||||||||
Additional
paid in capital
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3,579,806 | 3,826,440 | ||||||
Accumulated
deficit (including $301,107 deficit
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||||||||
(2008)
and $70,684 surplus (2009) )
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||||||||
accumulated
during the development stage)
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(4,211,472 | ) | (3,839,681 | ) | ||||
Total
Stockholders' Equity
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(631,382 | ) | (12,957 | ) | ||||
Total
Liabilities and Stockholders' Equity
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$ | - | $ | - |
FRANCHISE
HOLDINGS INTERNATIONAL, INC.
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||||||||||||||||||||
(A
Development Stage Company)
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||||||||||||||||||||
STATEMENTS
OF OPERATIONS
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||||||||||||||||||||
(Unaudited)
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||||||||||||||||||||
Period
From
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||||||||||||||||||||
Mar.
12, 2001
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||||||||||||||||||||
(Inception
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||||||||||||||||||||
Three
Months
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Three
Months
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Six
Months
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Six
Months
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of
Dev. Stage)
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||||||||||||||||
Ended
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Ended
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Ended
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Ended
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To
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||||||||||||||||
March
31, 2008
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March
31, 2009
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March
31, 2008
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March
31, 2009
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March
31, 2009
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||||||||||||||||
Revenues
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$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
- | - | - | - | - | ||||||||||||||||
Operating
expenses:
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||||||||||||||||||||
General
and administrative
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535 | 12,322 | 1,334 | 13,037 | 78,918 | |||||||||||||||
535 | 12,322 | 1,334 | 13,037 | 78,918 | ||||||||||||||||
Gain
(loss) from operations
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(535 | ) | (12,322 | ) | (1,334 | ) | (13,037 | ) | (78,918 | ) | ||||||||||
Other
income (expense):
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||||||||||||||||||||
Gain
on debt relief
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384,828 | 384,828 | ||||||||||||||||||
Interest
expense
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(7,631 | ) | (15,263 | ) | (235,226 | ) | ||||||||||||||
(7,631 | ) | - | (15,263 | ) | 384,828 | 149,602 | ||||||||||||||
Income
(loss) before
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||||||||||||||||||||
provision
for income taxes
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(8,166 | ) | (12,322 | ) | (16,597 | ) | 371,791 | 70,684 | ||||||||||||
Provision
for income tax
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- | - | - | - | - | |||||||||||||||
Net
income (loss)
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$ | (8,166 | ) | $ | (12,322 | ) | $ | (16,597 | ) | $ | 371,791 | $ | 70,684 | |||||||
Net
income (loss) per share
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||||||||||||||||||||
(Basic
and fully diluted)
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$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | 0.13 | |||||||||
Weighted
average number of
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||||||||||||||||||||
common
shares outstanding
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2,840,864 | 2,840,864 | 2,840,864 | 2,840,864 |
FRANCHISE
HOLDINGS INTERNATIONAL, INC.
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||||||||||||
(A
Development Stage Company)
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||||||||||||
STATEMENTS
OF CASH FLOWS
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||||||||||||
(Unaudited)
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||||||||||||
Period
From
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||||||||||||
Mar.
12, 2001
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||||||||||||
(Inception
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||||||||||||
Six
Months
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Six
Months
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of
Dev. Stage)
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||||||||||
Ended
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Ended
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To
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||||||||||
March
31, 2008
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March
31, 2009
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March
31, 2009
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||||||||||
Cash
Flows From Operating Activities:
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||||||||||||
Net
income (loss)
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$ | (16,597 | ) | $ | 371,791 | $ | 70,684 | |||||
Adjustments
to reconcile net loss to
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||||||||||||
net
cash provided by (used for)
|
||||||||||||
operating
activities:
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||||||||||||
Amortization
& depreciation
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475 | |||||||||||
Loss
on fixed asset disposal
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1,408 | |||||||||||
Accounts
payable
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1 | (4,765 | ) | 14,537 | ||||||||
Related
party payables
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1,333 | 43,452 | 75,398 | |||||||||
Accrued
expenses
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15,263 | - | 235,226 | |||||||||
Gain
on debt relief
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(384,828 | ) | (384,828 | ) | ||||||||
Compensatory
stock issuances
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2,750 | |||||||||||
Net cash provided by (used
for)
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||||||||||||
operating
activities
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- | 25,650 | 15,650 | |||||||||
Cash
Flows From Investing Activities:
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||||||||||||
Net
cash provided by (used for)
|
||||||||||||
investing
activities
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- | - | - | |||||||||
(Continued
On Following Page)
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FRANCHISE
HOLDINGS INTERNATIONAL, INC.
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||||||||||||
(A
Development Stage Company)
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||||||||||||
STATEMENTS
OF CASH FLOWS
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||||||||||||
(Unaudited)
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||||||||||||
(Continued
From Previous Page)
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||||||||||||
Period
From
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||||||||||||
Mar.
12, 2001
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||||||||||||
(Inception
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||||||||||||
Six
Months
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Six
Months
|
of
Dev. Stage)
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||||||||||
Ended
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Ended
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To
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||||||||||
March
31, 2008
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March
31, 2009
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March
31, 2009
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||||||||||
Cash
Flows From Financing Activities:
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||||||||||||
Notes
payable - payments
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(25,650 | ) | (25,650 | ) | ||||||||
Notes
payable - borrowings
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10,000 | |||||||||||
Net cash provided by (used
for)
|
||||||||||||
financing
activities
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- | (25,650 | ) | (15,650 | ) | |||||||
Net
Increase (Decrease) In Cash
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- | - | - | |||||||||
Cash
At The Beginning Of The Period
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- | - | - | |||||||||
Cash
At The End Of The Period
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$ | - | $ | - | $ | - | ||||||
Schedule Of Non-Cash Investing And Financing
Activities
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||||||||||||
None
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||||||||||||
Supplemental
Disclosure
|
||||||||||||
Cash
paid for interest
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$ | - | $ | - | ||||||||
Cash
paid for income taxes
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$ | - | $ | - |
l
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Lack
of capital for operations,
|
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l
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Substantial
delays and expenses related to testing and development of new
products,
|
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l
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Development
and marketing problems encountered in connection with our new and existing
products,
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l
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Competition
from larger and more established companies, and
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l
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Lack
of market acceptance of our
products.
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l
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Actual
or anticipated fluctuations in our operating results;
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l
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changes
in financial estimates by securities analysts or our failure to perform in
line with such estimates;
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l
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changes
in market valuations of other mortgage brokerage companies, particularly
those that sell products similar to as ours;
|
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l
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announcements
by us or our competitors of significant innovations, acquisitions,
strategic partnerships, joint ventures or capital
commitments;
|
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l
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introduction
of technologies or product enhancements that reduce the need for our
products; and
|
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l
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departures
of key personnel.
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Exhibit
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|
Number
|
Description
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3.1*
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Articles
of Incorporation
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3.2*
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Bylaws
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3.3*
|
Articles
of Merger of TMAN Global.com, Inc. and FRANCHISE HOLDINGS INTERNATIONAL,
INC.
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31.1
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Certification
of CEO/CFO pursuant to Sec. 302
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32.1
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Certification
of CEO/CFO pursuant to Sec.
906
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Franchise
Holdings International, Inc.
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||
By:
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/s/
A.J. Boisdrenghien
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A.J.
Boisdrenghien , President and Chief Executive and Financial
Officer
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