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Document and Entity Information

v2.4.0.6
Document and Entity Information
9 Months Ended
Jul. 31, 2013
Sep. 11, 2013
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, 2013  
Amendment Flag false  
Current Fiscal Year End Date --10-31  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   5,000,000
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2013  

Condensed Balance Sheets (Unaudited)

v2.4.0.6
Condensed Balance Sheets (Unaudited) (USD $)
Jul. 31, 2013
Oct. 31, 2012
ASSETS    
Cash and Cash Equivalents $ 410 $ 500
Total Assets 410 500
Liabilities    
Accrued Expenses 3,186 4,494
Due to Parent 35,999 30,605
Total Liabilities 39,185 35,099
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 (63,775) (59,599)
Total Stockholder's Deficit (38,775) (34,599)
Total Liabilities and Stockholder's Deficit $ 410 $ 500

Condensed Balance Sheets (Unaudited) (Parenthetical)

v2.4.0.6
Condensed Balance Sheets (Unaudited) (Parenthetical) (USD $)
Jul. 31, 2013
Oct. 31, 2012
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

Condensed Statements of Changes in Stockholder's Deficit (Unaudited)

v2.4.0.6
Condensed Statements of Changes in Stockholder's Deficit (Unaudited) (USD $)
Common Stock [Member]
Additional Paid-In Capital [Member]
Stock Subscription Receivable [Member]
Deficit Accumulated During Development Stage [Member]
Total
Balance at Oct. 17, 2007               
Balance, shares at Oct. 17, 2007           
Common Stock Issued for Cash 5,000 20,000 (12,900)    12,100
Common Stock Issued for Cash, shares 5,000,000        
Net Loss for the Period          (21,823) (21,823)
Balance 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 for the Period          (13,343) (13,343)
Balance at Oct. 31, 2008 5,000 20,000    (35,166) (10,166)
Balance, shares at Oct. 31, 2008 5,000,000        
Net Loss for the Period          (10,285) (10,285)
Balance at Oct. 31, 2009 5,000 20,000    (45,451) (20,451)
Balance, shares at Oct. 31, 2009 5,000,000        
Net Loss for the Period          (3,597) (3,597)
Balance at Oct. 31, 2010 5,000 20,000    (49,048) (24,048)
Balance, shares at Oct. 31, 2010 5,000,000        
Net Loss for the Period          (4,920) (4,920)
Balance at Oct. 31, 2011 5,000 20,000    (53,968) (28,968)
Balance, shares at Oct. 31, 2011 5,000,000        
Net Loss for the Period          (5,631) (5,631)
Balance at Oct. 31, 2012 5,000 20,000    (59,599) (34,599)
Balance, shares at Oct. 31, 2012 5,000,000        
Cash Received for Stock Subscriptions           
Net Loss for the Period       (4,176) (4,176)
Balance at Jul. 31, 2013 $ 5,000 $ 20,000   $ (63,775) $ (38,775)
Balance, shares at Jul. 31, 2013 5,000,000        

Condensed Statements of Operations (Unaudited)

v2.4.0.6
Condensed Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended 69 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2013
Income Statement [Abstract]          
Revenues               
Expenses          
Consulting             1,719
Interest             15
Legal and Professional 1,055 1,088 3,686 4,194 55,049
Office Expenses 30    90    1,590
Organizational Costs             1,002
Rent             3,000
Total Expenses 1,085 1,088 3,776 4,194 62,375
Net Loss for the Period Before Taxes (1,085) (1,088) (3,776) (4,194) (62,375)
Franchise Tax       400 400 1,400
Net Loss for the Period After Taxes $ (1,085) $ (1,088) $ (4,176) $ (4,594) $ (63,775)
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

Condensed Statements of Cash Flows (Unaudited)

v2.4.0.6
Condensed Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended 69 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2013
Cash Flows from Operating Activities      
Net Loss for the Period $ (4,176) $ (4,594) $ (63,775)
Changes in Assets and Liabilities:      
Prepaid Expenses         
Accrued Expenses (1,308) 4,594 3,186
Net Cash Flows from Operating Activities (5,484) 0 (60,589)
Net Cash Flows from Investing Activities         
Cash Flows from Financing Activities      
Cash Advance by (Repayment to) Parent 5,394    35,999
Cash Proceeds from Stock Subscriptions       12,900
Cash Proceeds from Sale of Stock       12,100
Net Cash Flows from Financing Activities 5,394 0 60,999
Net Change in Cash and Cash Equivalents (90)    410
Cash and Cash Equivalents - Beginning of Period 500      
Cash and Cash Equivalents - End of Period 410    410
Cash Paid During the Period for:      
Interest         
Income Taxes         

The Company

v2.4.0.6
The Company
9 Months Ended
Jul. 31, 2013
Company  
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 condensed financial statements of AFH Acquisition X, Inc., (the “Company”) included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in conjunction with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. The condensed balance sheet information as of October 31, 2012 was derived from the audited condensed financial statements included in Form 10-K. These condensed financial statements should be read in conjunction with the annual audited condensed financial statements and the notes thereto included in the Company’s annual report on Form 10-K for the year ended October 31, 2012, and other reports filed with the SEC.

 

  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
9 Months Ended
Jul. 31, 2013
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
9 Months Ended
Jul. 31, 2013
Equity [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
9 Months Ended
Jul. 31, 2013
Going Concern  
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 $63,775 at July 31, 2013.

 

  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
9 Months Ended
Jul. 31, 2013
Related Party Transactions [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)
9 Months Ended
Jul. 31, 2013
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)
Jul. 31, 2013
Company Details Narrative  
Percentage of equity interest held by parent company 100.00%

Going Concern (Details Narrative)

v2.4.0.6
Going Concern (Details Narrative) (USD $)
Jul. 31, 2013
Going Concern  
Accumulated deficit $ 63,775