AFH Acquisition XII 10-Q 17 Mar 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Jan. 31, 2015	Mar. 17, 2015
Document And Entity Information
Entity Registrant Name	AFH Acquisition XII, Inc.
Entity Central Index Key	1419552
Document Type	10-Q
Document Period End Date	31-Jan-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,000,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

CONDENSED_BALANCE_SHEETS_UNAUD

CONDENSED BALANCE SHEETS (UNAUDITED) (USD $)	Jan. 31, 2015	Oct. 31, 2014
CURRENT ASSETS
Cash and Cash Equivalents
Total Assets
Current Liabilities
Accrued Expenses	4,830	4,580
Due to Parent	39,205	38,165
Total Liabilities	47,052	45,762
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	-69,035	-67,745
Total Stockholder's Deficit	-44,035	-42,745
Total Liabilities and Stockholder's Deficit

CONDENSED_BALANCE_SHEETS_UNAUD1

CONDENSED BALANCE SHEETS (UNAUDITED) (Parenthetical) (USD $)	Jan. 31, 2015	Oct. 31, 2014
Statement of Financial Position [Abstract]
Preferred Stock, Par Value	$0.00	$0.00
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	$0.00	$0.00
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_OPERAT

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Income Statement [Abstract]
Revenues
Expenses
Legal and Professional	1,290	1,944
Total Expenses	1,290	1,944
Net Loss for the Period Before Taxes	-1,290	-1,944
Franchise Tax
Net Loss for the Period After Taxes	($1,290)	($1,944)
Loss per Share - Basic and Diluted	$0	$0
Weighted Average Common Shares Outstanding	5,000,000	5,000,000

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	3 Months Ended
	Jan. 31, 2015	Jan. 31, 2014
Cash Flows Provided by (Used in) Operating Activities
Net Loss for the Year	($1,290)	($1,944)
Changes in Assets and Liabilities:
Accrued Expenses	250	443
Net Cash Flows used by Operating Activities	-1,040	-1,501
Cash Flows from Financing Activities
Cash Advance by Parent	1,040	1,501
Net Cash Flows from Financing Activities	1,040	1,501
Net Change in Cash
Cash - End of Period
Cash Paid During the Period for:
Interest
Income Taxes

The_Company

The Company	3 Months Ended
	Jan. 31, 2015
Company
The Company	Note 1 - The Company
		AFH Acquisition XII, Inc., a development stage company (the “Company”), was incorporated under the laws of the State of Delaware on October 18, 2007. The Company is majority owned by AFH Holding & Advisory, LLC (the “Parent”). The financial statements presented represent only those transactions of AFH Acquisition XII, 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 XII, 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, 2014 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, 2014, 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_Account

Summary of Significant Accounting Policies	3 Months Ended
	Jan. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 - Summary of Significant Accounting Policies
		Method of Accounting
		The Company maintains its books and prepares its financial statements on the accrual basis of accounting.
		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

Equity Securities	3 Months Ended
	Jan. 31, 2015
Equity [Abstract]
Equity Securities	Note 3 - 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

Going Concern	3 Months Ended
	Jan. 31, 2015
Going Concern
Going Concern	Note 4 - Going Concern
		The Company’s condensed 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 $69,035 at January 31, 2015.
		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

Due to Parent	3 Months Ended
	Jan. 31, 2015
Related Party Transactions [Abstract]
Due to Parent	Note 5 – Due to Parent
		Due to parent represents cash advances from AFH Holding & Advisory LLC. AFH Holding & Advisory LLC is the majority shareholder of the Company. There are no repayment terms.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jan. 31, 2015
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.
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.

Going_Concern_Details_Narrativ

Going Concern (Details Narrative) (USD $)	Jan. 31, 2015
Going Concern
Accumulated deficit	$69,035