NOTE 9 - STOCKHOLDERS' DEFICIT

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

(9) STOCKHOLDERS' DEFICIT

(9) STOCKHOLDERS’ DEFICIT

At June 30, 2017 and December 31, 2016, the Company has 250,000,000 shares of par value $0.001 common stock authorized and 20,506,544 and 15,088,544 issued and outstanding, respectively. At June 30, 2017 and December 31, 2016, the Company has 10,000,000 shares of par value $0.001 preferred stock authorized and 500,000 and zero issued and outstanding, respectively.

During 2017, the Company issued 112,000 shares in exchange for $50,000 in cash. During 2017, the Company issued 500,000 shares of preferred stock and 5,418,000 shares of common stock in connection with the reverse acquisition of Nixon Restaurant Group, Inc.

The rights and privileges of the Series A preferred stock are solely as a “super voting” stock, whereby each one share of Series A holds votes amounting to the equivalent of 100,000 shares of common stock. Therefore, the 500,000 shares of Series A issued and outstanding hold an aggregate votes equal to 500,000,000 common shares. The Series A shares have no dividend rights, no liquidation preferences, are not transferable and can be redeemed by the holder for $5,000 in cash from the Company for the entire 500,000 share block at the holders’ option.