Franchise Holdings International Inc (OTCMKTS: FNHI) recently went into full beast mode skyrocketing from under $0.03 to highs well over $0.50 per share. The parabolic move was fueled by FNHI announcing it will soon begin distribution of Worksport tonneau covers for the light truck market through Amazon.com as well as a IAMNewswire.com article titled Ford Faces A Titanic Perspective While Tesla Reaches The Moon. Since a short and necessary pull back FNHI is back on the move up the charts and shareholders believe it is just getting started.
Microcapdaily reported on FNHI at the beginning of the recent run reporting on February 12 – “FNHI” has been on a steady rise in recent days since slipping below the $0.03 mark temporarily last week. The stock boasts surging volume, big momentum and a fast growing shareholder base that continues to bid FNHI higher.
Listed on the OTCQB Market under the trading symbol ‘FNHI’ Franchise Holdings International’s strategy is to acquire business in the fastest growing segments, creating shareholder value in the process. The Company is serious about up listing stating – As well as relisting on the OTC:QB the company expects to begin to explore opportunities to meet listing requirements on the OTC:QX markets, as well as resume working with GunPowder Capital to finalize its listing on the CSE. Gunpowder Capital Corp. has also agreed to fund up to $450,000 post CSE listing to pay for inventory purchases, which will clearly support the goal to grow the revenues of Worksport.
Franchise Holdings is led by CEO Steven Rossi who unlike most penny stock CEO’s is actually liked and respected by his shareholders. His twitter handle is @thehonest_ceo.
As we approach the end of our year. We want to start to reflect. We learned a lot and came a very far way. We've opened a new factory, recieved three patents, trademarks, and grew sales beyond beak even to earnings within 3 quarters; increasing 500% compared to the year before.
— Steven Rossi (@thehonest_ceo) December 17, 2019
Worksport Ltd. is a fully owned subsidiary and the current lead investment of FNHI. Worksport is a manufacturer of high quality, cost effective tonneau covers and accessories for trucks. It designs and produces hard-working and affordable pick-up truck gear for both work and sport. The company’s product line is versatile and future-focussed, meeting a substantial need within the market. Worksport offers traditional products that are both affordable and dependable, while also offering innovative and sophisticated variations that the pick-up truck market currently lacks. Worksport currently serves customers in Canada and the United States. On February 12 FNHI announced it expects to soon begin distribution of Worksport tonneau covers for the light truck market through the Amazon.com, Inc. Marketplace.
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Franchise Holdings put out some solid numbers recently- announcing strong Q2 and six-month results, with first half total sales jumping 270 per cent to $1,089,000 when compared to $294,000 in the same period last year. For the six-month period, gross profit advanced 560% to $284,000 when compared with $43,000 for the same period last year. For the second quarter ending June 30, 2019, Worksport gross revenue generated in the United States was $564,591 compared to $141,410 in Q2 2018, an increase of 399%.
On February 19 FNHI announced it has received a 10% equity position in US based Technology company Dayhaps Inc. Dayhaps is a US based software development company that has launched an effective and simple shareable group calendar application in the productivity space. Dayhaps Calendar has been said to be similar, in simplicity and design, to WhatsApp, a well know success story. Essentially “a WhatsApp for calendars”, Dayhaps users can create simple group calendars, share, and easily add or invite members using their mobile phone number. The app is currently available in 6 languages, and has a rapidly expanding user base in over 173 countries around the world. Dayhaps is available for Android (Google Play Store), iOS (Apple App Store). Several calendar apps have been acquired recently. Sunrise, a similar calendar, was acquired by Microsoft Corporation for over $100 Million USD according to Techcrunch. Beside Microsoft; Salesforce and Alphabet have also made sizeable investments in acquisitions within the shared calendar space.
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Currently trading at a $9 million market valuation FNHI has under a million in assets, very little debt and significant fast growing revenues reporting $1.9 million in sales for the 9 months ended September 30, 2019 up from $300k for the same period last year. Franchise Holdings is an exciting story developing in small caps – FNHI has a strong CEO behind it in Steven Rossi who does not take on toxic debt or dilute the share structure which has remained stable at 43mm shares outstanding. Mr. Rossi is focused on building the Company. selling truck covers and taking FNHI to a higher exchange. The stock has already established itself as a fast runner with a large and growing shareholder base who believe in this company, its CEO and continue to bid it higher. We will be updating on FNHI on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with FNHI.
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Disclosure: we hold no position in FNHI either long or short and we have not been compensated for this article.