APEX 2 10-Q 16 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 02, 2019
Document And Entity Information
Entity Registrant Name	APEX 2 Inc.
Entity Central Index Key	0001521466
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		10,006,800
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
TOTAL 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	8,500	2,000
Due former officer	40,137	40,137
Due to related party	181,800	169,291
Total Current Liabilities	230,437	211,428
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, 2019 and December 31, 2018, respectively)	1,001	1,001
Additional paid in capital	20,399	20,399
Accumulated deficit	(232,148)	(213,139)
Total stockholders’ deficit	(210,748)	(191,739)
Total Liabilities and Stockholders’ Deficit	$ 19,689	$ 19,689

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Stockholder's Deficit
Preferred stock, par value	$ .0001	$ .0001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ .0001	$ .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, 2019	Mar. 31, 2018
EXPENSES
General and administrative	$ 19,009	$ 26,827
Total expenses	19,009	26,827
Net loss	$ (19,009)	$ (26,827)
Loss per share (basic and diluted)	$ 0	$ 0
Weighted average common shares (basic and diluted)	10,006,800	10,006,800

Consdensed Statement Of Changes

Consdensed Statement Of Changes In Stockholder’s Deficit - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, Amount at Dec. 31, 2017	$ 1,001	$ 20,399	$ (142,832)	$ (121,432)
Beginning balance, Shares at Dec. 31, 2017	10,006,800
Net loss			(26,827)	(26,827)
Ending balance, Amount at Mar. 31, 2018	$ 1,001	20,399	(169,659)	(148,259)
Ending balance, Shares at Mar. 31, 2018	10,006,800
Net loss			(14,404)	(14,404)
Ending balance, Amount at Jun. 30, 2018	$ 1,001	20,399	(184,063)	(162,663)
Ending balance, Shares at Jun. 30, 2018	10,006,800
Net loss			(14,000)	(14,000)
Ending balance, Amount at Sep. 30, 2018	$ 1,001	20,399	(198,063)	(176,663)
Ending balance, Shares at Sep. 30, 2018	10,006,800
Net loss			(15,076)	(15,076)
Ending balance, Amount at Dec. 31, 2018	$ 1,001	20,399	(213,139)	(191,739)
Ending balance, Shares at Dec. 31, 2018	10,006,800
Net loss			(19,009)	(19,009)
Ending balance, Amount at Mar. 31, 2019	$ 1,001	$ 20,399	$ (232,148)	$ (210,748)
Ending balance, Shares at Mar. 31, 2019	10,006,800

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (19,009)	$ (15,076)	$ (14,404)	$ (26,827)
Changes in operating assets and liabilities:
Accounts payable	6,500			3,750
Net cash used in operating activities	(12,509)			(23,077)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances from related party	12,509			23,077
Net cash provided by financing activities	12,509			23,077
Net change in Cash
Cash at Beginning of Period	19,689		$ 19,689	19,689
Cash at End of Period	19,689	$ 19,689		19,689
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Interest paid
Income taxes paid

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2019
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, 2019
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, 2018 filed with the Securities and Exchange Commission (SEC). Interim results of operations for the three months ended March 31, 2019 are not necessarily indicative of future results for the full year. Accounting Method The Company’s financial statements are prepared in accordance with GAAP 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 an original 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, 2019
Notes to Financial Statements
NOTE 3: GOING CONCERN	The Company has not generated revenue since inception. The sole funding source to the Company has been the advance provided by an officer, director and controlling shareholder. As shown in the accompanying balance sheet, the Company has assets of $19,689 and an accumulated deficit of $232,148 at March 31, 2019. 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, 2019
Notes to Financial Statements
NOTE 4: RELATED PARTY TRANSACTIONS	The Company’s officer has advanced the Company $181,800, which remains unpaid as of March 31, 2019. Prior to this officer another party had advanced the Company $40,237 when they were related to the Company. 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 pays the related party consulting fees of $4,000 per month. During the three month period ended March 31, 2019 and 2018 the Company paid the related party a total of $12,000, respectively. 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, 2019
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. No shares of common stock have been issued during the three months period ending March 31, 2019 or during the year ended December 31, 2018

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
NOTE 6: SUBSEQUENT EVENT	The Company has evaluated subsequent events to determine events occurring after March 31, 2019 through May 2, 2019 that would have a material impact on the Company’s financial results or require disclosure and have determined none exist.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2019
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, 2018 filed with the Securities and Exchange Commission (SEC). Interim results of operations for the three months ended March 31, 2019 are not necessarily indicative of future results for the full year.
Accounting Method	The Company’s financial statements are prepared in accordance with GAAP 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 an original 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 _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
State or Country of Incorporation	Delaware
Date of Incorporation	May 17, 2011

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Going Concern Details Narrative
Cash	$ 19,689	$ 19,689
Accumulated deficit	$ (232,148)	$ (213,139)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended	34 Months Ended
	Jun. 30, 2016	Mar. 31, 2019	Dec. 31, 2018
Due to related party		$ 181,800	$ 169,291
Present officer [Member]
Due to related party		181,800
Prior Third Party [Member]
Due to related party		40,237
Consulting agreement [Member] | Officer and Director [Member]
Consulting fees periodic payment	$ 4,000	$ 12,000
Frequency of periodic payment of consulting fees	Monthly

STOCKHOLDER_S DEFICIT (Details

STOCKHOLDER’S DEFICIT (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	May 17, 2011	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Common stock, par value		$ .0001		$ .0001
Stock issued during period, new issues
Founder [Member]
Common stock, par value	$ 0.0001
Stock Issued During Period, value, new issues	$ 1,000
Stock issued during period, new issues	10,000,000