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Document and Entity Information

v2.4.0.6
Document and Entity Information
3 Months Ended
Jul. 31, 2012
Sep. 14, 2012
Document And Entity Information    
Entity Registrant Name AFH ACQUISITION X, INC.  
Entity Central Index Key 0001419554  
Document Type 10-Q  
Document Period End Date Jul. 31, 2012  
Amendment Flag false  
Current Fiscal Year End Date --10-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding 5,000,000 5,000,000
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2012  

BALANCE SHEETS (Unaudited)

v2.4.0.6
BALANCE SHEETS (Unaudited) (USD $)
Jul. 31, 2012
Oct. 31, 2011
ASSETS    
Cash and Cash Equivalents $ 0 $ 0
Total Assets 0 0
Liabilities    
Accrued Expenses 9,514 4,920
Due to Parent 24,048 24,048
Total Liabilities 33,562 28,968
Stockholder’s Deficit    
Preferred Stock: $.001 Par; 20,000,000 Shares Authorized, -0- Issued and Outstanding      
Common Stock: $.001 Par; 100,000,000 Shares Authorized; 5,000,000 Issued and Outstanding 5,000 5,000
Additional Paid-In-Capital 20,000 20,000
Deficit Accumulated During Development Stage (58,562) (53,968)
Total Stockholder’s Deficit (33,562) (28,968)
Total Liabilities and Stockholder’s Deficit $ 0 $ 0

BALANCE SHEETS (Parenthetical)

v2.4.0.6
BALANCE SHEETS (Parenthetical) (USD $)
Jul. 31, 2012
Oct. 31, 2011
Statement of Financial Position [Abstract]    
Preferred Stock: Par value $ 0.001 $ 0.001
Preferred Stock: Shares Authorized 20,000,000 20,000,000
Preferred Stock: Shares Issued 0 0
Preferred Stock: Shares Outstanding $ 0 $ 0
Common Stock: Par value $ 0.001 $ 0.001
Common Stock: Shares Authorized 100,000,000 100,000,000
Common Stock: Shares Issued 5,000,000 5,000,000
Common Stock: Shares Outstanding 5,000,000 5,000,000

STATEMENTS OF CHANGES IN STOCKHOLDER'S DEFICIT (Unaudited)

v2.4.0.6
STATEMENTS OF CHANGES IN STOCKHOLDER'S DEFICIT (Unaudited) (USD $)
Common Stock
Additional Paid-In Capital
Stock Subscription Receivable
Deficit Accumulated During Development Stage
Total
Balance, amount at Oct. 17, 2007              
Balance, shares at Oct. 17, 2007              
Common Stock Issued for Cash, amount 5,000 20,000 (12,900)    12,100
Common Stock Issued for Cash, shares 5,000,000        
Net Loss          (21,823) (21,823)
Balance, amount at Oct. 31, 2007 5,000 20,000 (12,900) (21,823) (9,723)
Balance, shares at Oct. 31, 2007 5,000,000        
Cash Received for Stock Subscriptions       12,900    12,900
Net Loss          (13,343) (13,343)
Balance, amount at Oct. 31, 2008 5,000 20,000    (35,166) (10,166)
Balance, shares at Oct. 31, 2008 5,000,000        
Net Loss          (10,285) (10,285)
Balance, amount at Oct. 31, 2009 5,000 20,000    (45,451) (20,451)
Balance, shares at Oct. 31, 2009 5,000,000        
Net Loss          (3,597) (3,597)
Balance, amount at Oct. 31, 2010 5,000 20,000    (49,048) (24,048)
Balance, shares at Oct. 31, 2010 5,000,000        
Net Loss          (4,920) (4,920)
Balance, amount at Oct. 31, 2011 5,000 20,000    (53,968) (28,968)
Balance, shares at Oct. 31, 2011 5,000,000        
Cash Received for Stock Subscriptions           
Net Loss          (4,594) (4,594)
Balance, amount at Jul. 31, 2012 $ 5,000 $ 20,000    $ (58,562) $ (33,562)
Balance, shares at Jul. 31, 2012 5,000,000        

STATEMENTS OF OPERATIONS (Unaudited)

v2.4.0.6
STATEMENTS OF OPERATIONS (Unaudited) (USD $)
3 Months Ended 9 Months Ended 57 Months Ended
Jul. 31, 2012
Jul. 31, 2011
Jul. 31, 2012
Jul. 31, 2011
Jul. 31, 2012
Income Statement [Abstract]          
Revenues               
Expenses          
Consulting             1,719
Interest             15
Legal and Professional 1,088 725 4,194 2,802 50,326
Office Expenses             1,500
Organizational Costs             1,002
Rent             3,000
Total Expenses 1,088 725 4,194 2,802 57,562
Net Loss for the Period Before Taxes (1,088) (725) (4,194) (2,802) (57,562)
Franchise Tax       400 400 1,000
Net Loss for the Period After Taxes $ (1,088) $ (725) $ (4,594) $ (3,202) $ (58,562)
Loss per Share - Basic and Diluted $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ (0.01)
Weighted Average Common Shares Outstanding 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000

STATEMENTS OF CASH FLOWS (Unaudited)

v2.4.0.6
STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
9 Months Ended 57 Months Ended
Jul. 31, 2012
Jul. 31, 2011
Jul. 31, 2012
Statement of Cash Flows [Abstract]      
Net Loss $ (4,594) $ (3,202) $ (58,562)
Changes in Assets and Liabilities:      
Prepaid Expenses         
Accrued Expenses 4,594 3,202 9,514
Net Cash Flows from Operating Activities       (49,048)
Net Cash Flows from Investing Activities         
Cash Flows from Financing Activities      
Cash Advance by Parent       24,048
Cash Proceeds from Stock Subscriptions       12,900
Cash Proceeds from Sale of Stock       12,100
Net Cash Flows from Financing Activities       49,048
Net Change in Cash and Cash Equivalents         
Cash and Cash Equivalents - Beginning of Period 0 0 0
Cash and Cash Equivalents - End of Period 0 0 0
Cash Paid During the Period for:      
Interest         
Income Taxes         

The Company

v2.4.0.6
The Company
3 Months Ended
Jul. 31, 2012
Accounting Policies [Abstract]  
The Company

Note A - The Company

AFH Acquisition X, Inc., a development stage company (the “Company”), was incorporated under the laws of the State of Delaware on October 18, 2007. The Company is 100% owned by AFH Holding & Advisory, LLC (the “Parent”). The financial statements presented represent only those transactions of AFH Acquisition X, Inc. The Company is looking to acquire an existing company or acquire the technology to begin operations.

 

As a blank check company, the Company’s business is to pursue a business combination through acquisition, or merger with, an existing company. As of the date of the financial statements, the Company is not conducting negotiations with any target business. No assurances can be given that the Company will be successful in locating or negotiating with any target company.

 

Since inception, the Company has been engaged in organizational efforts.

 

The accompanying unaudited interim financial statements reflect all adjustments of a normal and recurring nature which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or for the fiscal year taken as a whole. Certain information that is not required for interim financial reporting purposes has been omitted.

Summary of Significant Accounting Policies

v2.4.0.6
Summary of Significant Accounting Policies
3 Months Ended
Jul. 31, 2012
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note B - Summary of Significant Accounting Policies

Method of Accounting
  The Company maintains its books and prepares its financial statements on the accrual basis of accounting.

 

Development Stage

The Company has operated as a development stage enterprise since its inception by devoting substantially all of its efforts to financial planning, raising capital, research and development, and developing markets for its services. The Company prepares its financial statements in accordance with the requirements of FASB ASC 915.

 

Cash and Cash Equivalents

Cash and cash equivalents include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions, which periodically may exceed federally insured amounts.

 

Loss Per Common Share
Loss per common share is computed in accordance with FASB ASC 260-10, by dividing income (loss) available to common stockholders by weighted average number of common shares outstanding for each period

 

Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results can differ from those estimates.

 

Organizational Costs

Organizational costs represent management, consulting, legal, accounting, and filing fees incurred to date in the formation of the company. Organizational costs are expensed as incurred in accordance with FASB ASC 720-15.

 

Income Taxes

The Company accounts for income taxes in accordance with FASB ASC 740-10, using the asset and liability approach, which requires recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of such assets and liabilities. This method utilizes enacted statutory tax rates in effect for the year in which the temporary differences are expected to reverse and gives immediate effect to changes in income tax rates upon enactment. Deferred tax assets are recognized, net of any valuation allowance, for temporary differences and net operating loss and tax credit carry forwards. Deferred income tax expense represents the change in net deferred assets and liability balances.

 

Financial Instruments

The Company’s financial instruments consist of cash and due to parent. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. The fair value of these financial instruments approximates their carrying value, unless otherwise noted.

 

Recent Pronouncements

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow.

Equity Securities

v2.4.0.6
Equity Securities
3 Months Ended
Jul. 31, 2012
Accounting Policies [Abstract]  
Equity Securities

Note C - Equity Securities

Holders of shares of common stock shall be entitled to cast one vote for each common share held at all stockholder’s meetings for all purposes, including the election of directors. The common stock does not have cumulative voting rights.

 

The preferred stock of the Company shall be issued by the Board of Directors of the Company in one or more classes or one or more series within any class and such classes or series shall have such voting powers, full or limited, or no voting powers, and such designations, preferences, limitations or restrictions as the Board of Directors of the Company may determine, from time to time.

 

No holder of shares of stock of any class shall be entitled as a matter of right to subscribe for or purchase or receive any part of any new or additional issue of shares of stock of any class, or of securities convertible into shares of stock or any class, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.

Going Concern

v2.4.0.6
Going Concern
3 Months Ended
Jul. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

Note D - Going Concern

The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has reported recurring losses from operations. As a result, there is an accumulated deficit of $58,562 at July 31, 2012.

 

The Company’s continued existence is dependent upon its ability to raise capital or acquire a marketable company. The financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

Due to Parent

v2.4.0.6
Due to Parent
3 Months Ended
Jul. 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Due to Parent

Note E – Due to Parent

Due to parent represents cash advances from AFH Holding & Advisory LLC. AFH Holding & Advisory LLC is the sole shareholder of the Company. There are no repayment terms.

Summary of Significant Accounting Policies (Policies)

v2.4.0.6
Summary of Significant Accounting Policies (Policies)
3 Months Ended
Jul. 31, 2012
Accounting Policies [Abstract]  
Method of Accounting
Method of Accounting
   The Company maintains its books and prepares its financial statements on the accrual basis of accounting.

   

Development Stage

Development Stage

The Company has operated as a development stage enterprise since its inception by devoting substantially all of its efforts to financial planning, raising capital, research and development, and developing markets for its services. The Company prepares its financial statements in accordance with the requirements of FASB ASC 915.
Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions, which periodically may exceed federally insured amounts.
Loss Per Common Share
Loss Per Common Share
Loss per common share is computed in accordance with FASB ASC 260-10, by dividing income (loss) available to common stockholders by weighted average number of common shares outstanding for each period
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results can differ from those estimates.
Organizational Costs

Organizational Costs

Organizational costs represent management, consulting, legal, accounting, and filing fees incurred to date in the formation of the company. Organizational costs are expensed as incurred in accordance with FASB ASC 720-15.

Income Taxes
Income Taxes

The Company accounts for income taxes in accordance with FASB ASC 740-10, using the asset and liability approach, which requires recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of such assets and liabilities. This method utilizes enacted statutory tax rates in effect for the year in which the temporary differences are expected to reverse and gives immediate effect to changes in income tax rates upon enactment. Deferred tax assets are recognized, net of any valuation allowance, for temporary differences and net operating loss and tax credit carry forwards. Deferred income tax expense represents the change in net deferred assets and liability balances.

Financial Instruments

  Financial Instruments

The Company’s financial instruments consist of cash and due to parent. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments. The fair value of these financial instruments approximates their carrying value, unless otherwise noted.

Recent Pronouncements

Recent Pronouncements

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow.

The Company (Details Narrative)

v2.4.0.6
The Company (Details Narrative)
57 Months Ended
Jul. 31, 2012
Notes to Financial Statements  
Percent of the Company owned by AFH Holding and Advisory, LLC (the "Parent") 100.00%

Going Concern (Details Narrative)

v2.4.0.6
Going Concern (Details Narrative) (USD $)
Jul. 31, 2012
Oct. 31, 2011
Notes to Financial Statements    
Accumulated Deficit $ 58,562 $ 53,968