APEX 2 10-Q 20 Feb 18 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Feb. 14, 2018
Document And Entity Information
Entity Registrant Name	APEX 2 Inc.
Entity Central Index Key	1,521,466
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
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		10,006,800
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current Assets
Cash held in attorney trust account	$ 19,689	$ 19,689
Total Current Assets	19,689	19,689
Total Assets	19,689	19,689
Current Liabilities
Accounts payable	2,500	2,654
Due to related party	102,621	85,008
Total Current Liabilities	105,121	87,662
Commitments and contingencies
Stockholder's Deficit
Preferred stock, ($.0001 par value, 5,000,000 shares authorized; none issued and outstanding)
Common stock ($.0001 par value, 100,000,000 shares authorized; 10,006,800 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively	1,001	1,001
Additional paid in capital	20,399	20,399
Accumulated deficit	(106,832)	(89,373)
Total stockholders’ deficit	(85,432)	(67,973)
Total Liabilities and Stockholders’ Deficit	$ 19,689	$ 19,689

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Stockholder's Deficit
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	10,006,800	10,006,800
Common stock, outstanding	10,006,800	10,006,800

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
EXPENSES:
General and administrative expenses	$ 17,459	$ 4,961
Total expenses	17,459	4,961
Net loss	$ (17,459)	$ (4,961)
Loss per share (basic and diluted)	$ 0	$ 0
Weighted average common shares (basic and diluted)	10,006,800	10,000,829

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (17,459)	$ (4,961)
Change in operating assets and liabilities
Accounts payable	(154)	4,250
Net cash used in operating activities	(17,613)	(711)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances from related party	17,613
Common stock issued for cash		20,400
Net cash provided by financing activities	17,613	20,400
Net change in Cash		19,689
Cash at Beginning of Period	19,689
Cash at End of Period	19,689	19,689
Supplemental Cash Flow Information
Interest paid
Taxes paid

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
NOTE 1: ORGANIZATION AND DESCRIPTION OF BUSINESS	APEX 2, Inc. (the “Company”) was incorporated under the laws of the State of Delaware on May 17, 2011 and has been inactive since inception. The Company intends to serve as a vehicle to effect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign business.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The accompanying condensed unaudited financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed unaudited financial statements should be read in conjunction with a reading of the Company’s financial statements and notes thereto included in the Company’s Form 10-K annual report for year ended December 31, 2016 filed with the Securities and Exchange Commission (SEC). Interim results of operations for the three months ended March 31, 2017 are not necessarily indicative of future results for the full year. Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a fiscal year ending on December 31. 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 could differ from those estimates. Cash Equivalents The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. Income Taxes Income taxes are provided in accordance with ASC Topic 740 Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Basic Earnings (Loss) per Share ASC Topic 260, “Earnings per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC Topic 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. Basic net loss per share amounts are computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company and losses from operations. Impact of New Accounting Standards 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

GOING CONCERN	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
NOTE 3: GOING CONCERN	The Company has not generated revenue since inception. As shown in the accompanying balance sheet, the Company has assets of $19,689 and an accumulated deficit of $106,832 at March 31, 2017. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on ability to identify a target acquisition. The accompanying financial statements do not include any adjustments that may result from the outcome of this uncertainty.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
NOTE 4: RELATED PARTY TRANSACTIONS	Since inception, the Company's former officer and director advanced a total of $40,137 and the present officer advanced the Company $62,484, both of which remain unpaid as of March 31, 2017. These amounts are non-interest bearing and due on demand. On June 1, 2016 the Company entered into a consulting agreement with a related party. Under the terms of the agreement the Company has paid the related party consulting fees of $4,000 per month. During the three month period ended March 31, 2017 the Company paid the related party for a total of $12,000 and zero during the same period in 2016. A director of the Company is also an officer and director of the consulting group.

STOCKHOLDER_S DEFICIT

STOCKHOLDER’S DEFICIT	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
NOTE 5: STOCKHOLDER'S DEFICIT	On May 17, 2011 the Company issued 10,000,000 shares of common stock (founder’s shares) valued at $1,000 with a par value of $0.0001 per share. During the three month period ended March 31, 2016 the Company issued 6,800 shares of common stock to 40 individuals at $3.00 per share for aggregate proceed of $20,400.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
NOTE 6: SUBSEQUENT EVENT	The Company has evaluated subsequent events to determine events occurring after March 31, 2017 through February 14, 2018 that would have a material impact on the Company’s financial results or require disclosure and have determined none exist.

SUMMARY OF SIGNIFICANT ACCOUN12

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
Summary Of Significant Accounting Policies Policies
Basis of Presentation	The accompanying condensed unaudited financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed unaudited financial statements should be read in conjunction with a reading of the Company’s financial statements and notes thereto included in the Company’s Form 10-K annual report for year ended December 31, 2016 filed with the Securities and Exchange Commission (SEC). Interim results of operations for the three months ended March 31, 2017 are not necessarily indicative of future results for the full year.
Accounting Method	The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a fiscal year ending on December 31.
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 could differ from those estimates.
Cash Equivalents	The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents.
Income Taxes	Income taxes are provided in accordance with ASC Topic 740 Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Basic Earnings (Loss) per Share	ASC Topic 260, “Earnings per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC Topic 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. Basic net loss per share amounts are computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company and losses from operations.
Impact of New Accounting Standards	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.

ORGANIZATION AND DESCRIPTION 13

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	3 Months Ended
	Mar. 31, 2017
Organization And Description Of Business Details Narrative
State or Country of Incorporation	Delaware
Date of Incorporation	May 17, 2011

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Going Concern Details Narrative
Total Assets	$ 19,689	$ 19,689
Accumulated deficit	$ (106,832)	$ (89,373)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		70 Months Ended
	Jun. 30, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017
Repayment of related party debt		$ 12,000	$ 0
Former officer and director [Member]
Proceeds from borrowing, related party				$ 40,137
Present officer [Member]
Proceeds from borrowing, related party				$ 62,484
Officer and Director [Member] | Consulting agreement [Member]
Consulting fees periodic payment	$ 4,000
Frequency of periodic payment of consulting fees	Monthly

STOCKHOLDER_S DEFICIT (Details

STOCKHOLDER’S DEFICIT (Details Narrative)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2016USD ($)Number$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	May 17, 2011USD ($)$ / sharesshares
Common stock, shares issued | shares	10,006,800		10,006,800
Common stock shares issued, value	$ 1,001		$ 1,001
Common stock, par value | $ / shares	$ 0.0001		$ 0.0001
Common stock issued for cash		$ 20,400
Individual [Member]
Common stock issued for cash		$ 20,400
Common stock shares issued | shares		6,800
Number of individuals shares issued | Number		40
Common stock issued per share | $ / shares		$ 3
Founder [Member]
Common stock, shares issued | shares				10,000,000
Common stock shares issued, value				$ 1,000
Common stock, par value | $ / shares				$ 0.0001