HUTN (HUTN) 10-Q/A 22 May 15 2015 Q1 Quarterly report (amended) Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2015	21-May-15
Document and Entity Information:
Entity Registrant Name	EFH Group, Inc.
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Entity Central Index Key	1565700
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		53,257,673
Entity Public Float	$0
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	Yes
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

EFH_Group_Inc_Condensed_Balanc

EFH Group, Inc. - Condensed Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets
Due from nonaffiliated 3rd party	$18,023	$0
Due from shareholder	11,500	6,500
Total current assets	29,523	6,500
Other assets:
Brand assets	157,500,000	157,500,000
Total other assets	157,500,000	157,500,000
Total Assets	157,529,523	157,506,500
Current liabilities:
Accounts payable	29,943	0
Due to related party	12,000	0
Advances from related party	34,418	13,991
Accrued expenses	12,069	15,530
Total current liabilities	88,430	29,521
Total liabilities	88,430	29,521
Stockholders' equity:
Common stock, $0.001 par value; 90,000,000 shares authorized; 53,020,173 and 52,982,199 shares issued & outstanding, respectively	53,020	52,982
Class B common stock, $0.001 par value, 10,000,000 shares authorized, 5,797,000 issued and outstanding	5,797	5,797
Additional paid-in capital	157,459,206	157,441,221
Accumulated deficit	-76,930	-23,021
Total stockholders' equity	157,441,093	157,476,979
Total Liabilities and Stockholders' Equity	$157,529,523	$157,506,500

EFH_Group_Inc_Balance_Sheets_P

EFH Group, Inc. - Balance Sheets (Parantheticals)(USD $) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	53,020,173	52,982,199
Common stock, shares outstanding	53,020,173	52,982,199
Class B common stock, par value (in dollars per share)	$0.00	$0.00
Class B common stock, shares authorized	10,000,000	10,000,000
Class B common stock, shares issued	5,797,000	5,797,000
Class B common stock, shares outstanding	5,797,000	5,797,000

EFH_Group_Inc_Condensed_Statem

EFH Group, Inc. - Condensed Statement of Operations (USD $)	3 Months Ended
	Mar. 31, 2015
Income Statement
Revenue	$0
Operating expenses
Professional Fees	13,779
Rent Expense	405
Selling and Marketing	5,000
General and administrative	34,725
Total operating expenses	53,909
Income (loss) from operations	-53,909
Loss from operations and before income taxes	0
Net loss	($53,909)
Net loss per share - basic and diluted	$0
Weighted average number of common shares outstanding - basic and diluted	52,993,800

EFH_Group_Inc_Condensed_Statem1

EFH Group, Inc. - Condensed Statement of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($53,909)
Changes in operating assets and liabilities:
Accounts payable	29,943
Due to related party	12,000
Accrued expenses	-3,461
Net Cash Used In Operating Activities	-15,427
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash provided by (used for) investing activities	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Advance from related party	20,427
Due from shareholder	-5,000
Net Cash Provided By Financing Activities	15,427
Net increase (decrease) in cash	0
Cash - Beginning of Period	0
Cash - End of Period	0
Supplemental Disclosure
Cash paid for interest	0
Cash paid for income taxes	$0

Note_1_Nature_of_Operations

Note 1 - Nature of Operations	3 Months Ended
	Mar. 31, 2015
Notes
Note 1 - Nature of Operations	Note 1 – Nature of Operations
	Nature of Operations
	EFH Group, Inc. (the “Company”) was incorporated in the State of Colorado on March 8, 2007 under the name of Twentyfour/seven Ventures, Inc.  The name of the Company was changed to EFH Group, Inc. on October 28, 2014.
	EF Hutton Financial Corp., a wholly owned subsidiary of the registrant, operates an internet marketplace that connects consumers with a network of financial providers across a range of financial products and services, including, but not limited to insurance, tax, real estate and financial planning.  The marketplace, Gateway, connects consumers with a wide range of financial providers and solutions.  Gateway makes independent provides a viable choice for consumers by eliminating barriers that impede consumers from using independent providers, primarily through marketing to raise awareness of the independent sector and by standardizing and streamlining the process of selecting and engaging independent financial professionals.  Financial providers who register with Gateway benefit by generating new client relationships.  In addition to operating Gateway, our subsidiary intends to offer specialty financial services through its institution division.
	On November 25, 2014, the Company purchased certain assets of EFH Group, Inc., a Wyoming corporation (“EFH Wyoming”).  The assets consist of various trademarks and license rights, rights to computer programming code and other intellectual property.  Prior to the purchase, the Company engaged an independent expert to appraise the assets.  Based on the asset appraisal, the assets will be held on the balance sheet at value of $157,500,000.  The Company issued a total of 52,173,000 restricted common shares and 5,797,000 restricted Class B common shares as consideration for the EFH Wyoming asset purchase.
	On November 23, 2014, the assets and liabilities of the Company were contributed at book value to Liberty Ventures, Inc., a wholly owned subsidiary of the Company.  The common shares of EF Hutton Financial Corp., a wholly owned subsidiary of the Company were not included in the spin-off.  Effective on November 25, 2014, the Company spun off Liberty Ventures, Inc. to its shareholders as of November 24, 2014.

Note_2_Summary_of_Significant_

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Notes
Note 2 - Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires the Company to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the periods presented.
	The Company makes the estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available. The Company believes that significant estimates, assumptions and judgments are reasonable, based upon information available at the time they are made. Actual results could differ from these estimates, making it possible that a change in these estimates could occur in the near term.
	Cash and cash equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.
	Property and equipment
	Property and equipment are recorded at cost and depreciated under straight line methods over each item's estimated useful life, generally seven years for furniture and fixtures and five years for office equipment.
	Revenue recognition
	The Company recognizes revenue when upon receipt of the fees received for services rendered through its Gateway system.
	Income tax
	The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
	Net income (loss) per share
	The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding.
	Financial Instruments
	The carrying value of the Company's financial instruments, as reported in the accompanying balance sheet, approximates fair value due to their short term maturities.
	Long-Lived Assets
	In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.
	New Accounting Standards
	From time to time, the Financial Accounting Standards Board ("FASB") or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification ("ASC") are communicated through issuance of an Accounting Standards Update ("ASU"). Unless otherwise discussed, the Company believes that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on the condensed financial statements upon adoption.

Note_3_Going_Concern

Note 3 - Going Concern	3 Months Ended
	Mar. 31, 2015
Notes
Note 3 - Going Concern	Note 3 – Going Concern
	The Company’s financial statements have been prepared on a going concern basis that assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future.  The Company’s ability to continue as a going concern depends on its ability to generate profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities when they come due. There is no assurance that these events will be satisfactorily completed.

Note_4_Income_Taxes

Note 4 - Income Taxes	3 Months Ended
	Mar. 31, 2015
Notes
Note 4 - Income Taxes	Note 4 - Income Taxes
	Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses and other items. Loss carryovers are limited under the Internal Revenue Code should a significant change in ownership occur. The Company accounts for income taxes pursuant to ASC 740.
	Income taxes at federal and state statutory rates are reconciled to the Company’s actual income taxes as follows:
		31-Mar-15
	Tax at federal statutory rate (15%)	$             -
	State income tax (5%)	-
	Book/tax permanent differences:
	Revenue estimates	-
	Expense estimates	-53,909
	Tax rate estimate	-
	Income Tax before operating loss carryforwards	-53,909
	Net operating loss carryforward	-23,021
	Income tax, net	($76,930)

Note_5_Fair_Value_of_Financial

Note 5 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2015
Notes
Note 5 - Fair Value of Financial Instruments	Note 5 – Fair Value of Financial Instruments
	The Company has adopted the guidance of ASC 820, “Fair Value Measurement” which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:
	Level 1-Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.
	Level 2-Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.
	Level 3-Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.
	ASC 825, “Financial Instruments”, allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company has not elected to apply the fair value option to any outstanding instruments.
	The Company’s financial instruments primarily consist of cash, accounts receivable, prepaid rent, customer deposits held, accounts and income taxes payable, accrued liabilities, customer deposits owed, deferred purchase agreement, derivative liabilities, and notes payable.  Fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The carrying amount of cash, accounts receivable, prepaid rent, customer deposits held, accounts and income taxes payable, accrued liabilities, customer deposits owed and deferred purchase agreement approximate fair value because of the short-term nature of these financial instruments. The carrying amounts of its notes payable approximates fair value as of the condensed balance sheets dates presented, because interest rates on these instruments approximate market interest rates after consideration of stated interest rates.
	The Company did not have any liabilities carried at fair value measured on a recurring basis as of March 31, 2015.

Note_6_Intangible_Assets

Note 6 - Intangible Assets	3 Months Ended
	Mar. 31, 2015
Notes
Note 6 - Intangible Assets	Note 6 – Intangible Assets
	On November 25, 2014, the Company purchased certain assets of EFH Group, Inc., a Wyoming corporation.  The assets consist of various trademarks and license rights, rights to computer programming code and other intellectual property.
	Prior to the purchase, the Company engaged an independent expert to appraise the assets as of July 31, 2014.  Based on the asset appraisal, the assets will be held on the balance sheet at value of $157,500,000.  The Company issued a total of 52,173,000 restricted common shares and 5,797,000 restricted Class B common shares as consideration for the EFH Wyoming asset purchase.

Note_7_Stockholders_Equity

Note 7 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2015
Notes
Note 7 - Stockholders' Equity	Note 7 – Stockholders’ Equity
	Common stock
	Pursuant to the asset purchase agreement, the Company issued the 52,173,000 common shares and 5,797,000 Class B common shares to EFH Wyoming, a company controlled by an officer and director of the registrant.
	The Class B common shares have the following rights and privileges:
	Dividend rights - Fifty percent (50%) of the standard common share dividend
	Liquidation rights - Fifty percent (50%) of standard common share liquidation rights
	Exchange privileges - Exchangeable for standard common shares on a one for one basis
	with thirty (30) days prior notice to the Company.

Note_8_Related_Party_Advances

Note 8 - Related Party Advances	3 Months Ended
	Mar. 31, 2015
Notes
Note 8 - Related Party Advances	Note 8 – Related Party Advances
	Stanley Hutton Rumbough, a director of the registrant, advanced the registrant $12,367 during the three months ended March 31, 2015.  The advance is repayable upon demand and is without interest.
	Christopher Daniels, an officer and director of the registrant, advanced the registrant $7,960 during the three months ended March 31, 2015.  The advance is repayable upon demand and is without interest.
	John Daniels, a director of the registrant, advanced the registrant $100 during the three months ended March 31, 2015.  The advance is repayable upon demand and is without interest.
	EFH Group Inc., a Wyoming corporation, the majority shareholder of the registrant, advanced the registrant $13,991 during the year ended December 31, 2014.  The advance is repayable upon demand and is without interest.
	For the three months ended March 31, 2015, the Company incurred expenses of $12,000 due to Impacct, LLC, an entity controlled by Lance Diamond, an officer of the Company.

Note_9_Subsequent_Events

Note 9 - Subsequent Events	3 Months Ended
	Mar. 31, 2015
Notes
Note 9 - Subsequent Events	Note 9 – Subsequent Events
	Effective April 17, 2015, the Company entered into an addendum to the Asset Purchase Agreement dated November 25, 2014.  The addendum revised Paragraph 8.9 as follows:
	If the closing of the PIPE is delayed for any reason, SpinCo shall be paid non-refundable fee of $2,000 on the 26th day of each month through May 26, 2015 or until the contingent obligations set forth in paragraph 6.1(d) and 8.2 of the Agreement are met, whichever occurs first.  Said non-refundable payments are not transferable or assignable.
	SpinCo shall be paid $8,000 upon the signing of this Addendum to bring the revised obligations under paragraph 8.9 current.   Future payments, if the contingent obligations under paragraph 6.2(d) and 8.2 are not met on or before May 26, 2015, shall be $2,000 due April 26 and $2,000 due May 26.
	Additionally, Paragraph 8.13 was added:
	Any obligations of Seller under Paragraphs 6.2(d), 8.2 and 8.9 shall be null and void if SpinCo or its principals breach the terms of this Agreement or transfer or assign any rights or obligations under this Agreement.
	On May 8, 2015, the Company acquired all of the outstanding membership equity of Phoenix Financial Consulting, an SEC registered investment advisor.  The assets were purchased by EF Hutton Financial Corp., a subsidiary of EFH Group, Inc.  The assets were purchased from Bruce David Winn, the owner of all membership units of Phoenix Financial Consultants.  The assets consist of the customer base and the regulatory platform, which the Company can use to grow its business.
	The Company has evaluated subsequent events through the date these condensed financial statements were available to be issued of May 20, 2015, and determined that there are no other reportable subsequent events.

Note_2_Summary_of_Significant_1

Note 2 - Summary of Significant Accounting Policies: Use of Estimates (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires the Company to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the periods presented.

Note_2_Summary_of_Significant_2

Note 2 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Cash and Cash Equivalents	Cash and cash equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents.

Note_2_Summary_of_Significant_3

Note 2 - Summary of Significant Accounting Policies: Property and Equipment (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Property and Equipment	Property and equipment
	Property and equipment are recorded at cost and depreciated under straight line methods over each item's estimated useful life, generally seven years for furniture and fixtures and five years for office equipment.

Note_2_Summary_of_Significant_4

Note 2 - Summary of Significant Accounting Policies: Revenue Recognition (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Revenue Recognition	Revenue recognition
	The Company recognizes revenue when upon receipt of the fees received for services rendered through its Gateway system.

Note_2_Summary_of_Significant_5

Note 2 - Summary of Significant Accounting Policies: Income Tax (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Income Tax	Income tax
	The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Note_2_Summary_of_Significant_6

Note 2 - Summary of Significant Accounting Policies: Net Income (loss) Per Share (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Net Income (loss) Per Share	Net income (loss) per share
	The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding.

Note_2_Summary_of_Significant_7

Note 2 - Summary of Significant Accounting Policies: Financial Instruments (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Financial Instruments	Financial Instruments
	The carrying value of the Company's financial instruments, as reported in the accompanying balance sheet, approximates fair value due to their short term maturities.

Note_2_Summary_of_Significant_8

Note 2 - Summary of Significant Accounting Policies: Long-lived Assets (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Long-lived Assets	Long-Lived Assets
	In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value.

Note_2_Summary_of_Significant_9

Note 2 - Summary of Significant Accounting Policies: New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
New Accounting Standards	New Accounting Standards
	From time to time, the Financial Accounting Standards Board ("FASB") or other standards setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification ("ASC") are communicated through issuance of an Accounting Standards Update ("ASU"). Unless otherwise discussed, the Company believes that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on the condensed financial statements upon adoption.

Note_4_Income_Taxes_Schedule_o

Note 4 - Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)	3 Months Ended
	Mar. 31, 2015
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)
		31-Mar-15
	Tax at federal statutory rate (15%)	$             -
	State income tax (5%)	-
	Book/tax permanent differences:
	Revenue estimates	-
	Expense estimates	-53,909
	Tax rate estimate	-
	Income Tax before operating loss carryforwards	-53,909
	Net operating loss carryforward	-23,021
	Income tax, net	($76,930)

Note_1_Nature_of_Operations_De

Note 1 - Nature of Operations (Details) (USD $)	Nov. 26, 2014
Details
Assets purchased value	$157,500,000
Common shares issued for asset purchase	52,173,000
Class B common shares issued for asset purchase	5,797,000

Note_4_Income_Taxes_Schedule_o1

Note 4 - Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $)	Mar. 31, 2015
Details
Expense estimates	($53,909)
Income tax before operating loss carryforwards	-53,909
Unrecognized Tax Benefits Resulting in Net Operating Loss Carryforward	-23,021
Income tax, net	($76,930)

Note_6_Intangible_Assets_Detai

Note 6 - Intangible Assets (Details) (USD $)	Nov. 26, 2014
Details
Assets purchased value	$157,500,000
Common shares issued for asset purchase	52,173,000
Class B common shares issued for asset purchase	5,797,000

Note_7_Stockholders_Equity_Det

Note 7 - Stockholders' Equity (Details)	Nov. 26, 2014
Details
Common shares issued for asset purchase	52,173,000
Class B common shares issued for asset purchase	5,797,000

Note_8_Related_Party_Advances_

Note 8 - Related Party Advances (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Details
Proceeds from Rumbough related party debt	$12,367
Proceeds from Christopher Daniels related party debt	7,960
Proceeds from John Daniels related party debt	100
Proceeds from Related Party Debt		13,991
Proceeds from Impacct related party debt	$12,000