Axiom 10-K 16 Dec 13 2013 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Aug. 31, 2013	Dec. 12, 2013	Feb. 28, 2013
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'Axiom Corp.	'	'
Document Type	'10-K	'	'
Current Fiscal Year End Date	'--08-31	'	'
Entity Common Stock, Shares Outstanding	'	56,433,333	'
Entity Public Float	'	'	$0
Amendment Flag	'false	'	'
Entity Central Index Key	'0001566265	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Document Period End Date	31-Aug-13	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'

Axiom_Corp_and_Subsidiary_Cond

Axiom Corp. and Subsidiary - Condensed Consolidated Balance Sheets (USD $)	Aug. 31, 2013	Aug. 31, 2012
Current Assets	'	'
Cash	$829	$44,788
Total Assets	829	44,788
Current Liabilities	'	'
Accounts payable and accrued liabilities	11,649	'
Due to related party	846	705
Note payable	3,019	'
Total Liabilities	15,514	705
Preferred stock, 100,000,000 shares authorized, $0.00001 par value; no shares issued and outstanding	0	0
Common stock, 200,000,000 shares authorized, $0.00001 par value; 56,433,333 shares issued and outstanding	564	564
Additional paid-in capital	45,086	45,086
Deficit accumulated during the development stage	-60,335	-1,567
Total Stockholders’ (Deficit) Equity	-14,685	44,083
Total Liabilities and Stockholders’ (Deficit) Equity	$829	$44,788

Axiom_Corp_and_Subsidiary_Cond1

Axiom Corp. and Subsidiary - Condensed Consolidated Balance Sheets (Parentheticals) (USD $)	Aug. 31, 2013	Aug. 31, 2012
Preferred stock par value (in Dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in Shares)	100,000,000	100,000,000
Preferred stock, shares issued (in Shares)	0	0
Preferred stock, shares outstanding (in Shares)	0	0
Common stock par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized (in Shares)	200,000,000	200,000,000
Common stock, shares issued (in Shares)	56,433,333	56,433,333
Common stock, shares outstanding (in Shares)	56,433,333	56,433,333

Axiom_Corp_and_Subsidiary_Cond2

Axiom Corp. and Subsidiary - Condensed Consolidated Statement of Operations (USD $)	5 Months Ended	12 Months Ended	17 Months Ended
	Aug. 31, 2012	Aug. 31, 2013	Aug. 31, 2013
Expenses	'	'	'
General and administrative	$1,567	$58,708	$60,275
Total Operating Expenses	1,567	58,708	60,275
Other expense	'	'	'
Interest expense	'	60	60
Net Loss	($1,567)	($58,768)	($60,335)
Net Loss Per Share – Basic and Diluted (in Dollars per share)	$0	$0	'
Weighted Average Shares Outstanding – Basic and Diluted (in Shares)	40,853,000	56,433,000	'

Axiom_Corp_and_Subsidiary_Cons

Axiom Corp. and Subsidiary - Consolidated Statements of Stockholder's (Deficit) Equity (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	IssuedFor0.0002PerShare	IssuedFor0.0015PerShare	Total
Balance – At at Apr. 01, 2012	'	'	'	'	'	'
Balance – At (in Shares)	56,433,333	'	'	'	'	56,433,333
Issuance of common stock at $0.0015 per share	$264	$39,386	'	'	$39,650	'
Issuance of common stock at $0.0015 per share (in Shares)	26,433,333	'	'	'	'	'
Net Loss	'	'	-1,567	'	'	-1,567
Issuance of common stock at $0.0002 per share	300	5,700	'	6,000	'	564
Issuance of common stock at $0.0002 per share (in Shares)	30,000,000	'	'	'	'	'
Balance – At at Aug. 31, 2012	564	45,086	-1,567	'	'	44,083
Balance – At at Apr. 01, 2012	'	'	'	'	'	'
Balance – At (in Shares)	56,433,333	'	'	'	'	56,433,333
Net Loss	'	'	'	'	'	-60,335
Issuance of common stock at $0.0002 per share	'	'	'	'	'	564
Balance – At at Aug. 31, 2013	564	45,086	'	'	'	-14,685
Balance – At at Aug. 31, 2012	'	'	-1,567	'	'	44,083
Balance – At (in Shares)	56,433,333	'	'	'	'	56,433,333
Net Loss	'	'	-58,768	'	'	-58,768
Issuance of common stock at $0.0002 per share	'	'	'	'	'	564
Balance – At at Aug. 31, 2013	$564	$45,086	($60,335)	'	'	($14,685)

Axiom_Corp_and_Subsidiary_Cond3

Axiom Corp. and Subsidiary - Condensed Consolidated Statements of Cash Flows (USD $)	5 Months Ended	12 Months Ended	17 Months Ended
	Aug. 31, 2012	Aug. 31, 2013	Aug. 31, 2013
Cash Flows from Operating Activities	'	'	'
Net loss	($1,567)	($58,768)	($60,335)
Expenses paid by a related party	705	141	846
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Increase in accounts payable and accrued liabilities	'	11,649	11,649
Net Cash Used In Operating Activities	-862	-46,978	-47,840
Cash Flows from Financing Activities	'	'	'
Proceeds from the issuance of common stock	45,650	'	45,650
Proceeds from loan payable	'	3,019	3,019
Net Cash Provided by Financing Activities	45,650	3,019	48,669
(Decrease) Increase in Cash	44,788	-43,959	829
Cash - Beginning of Period	'	44,788	'
Cash - End of Period	44,788	829	829
Supplementary Information:	'	'	'
Interest paid	0	0	'
Income taxes paid	$0	$0	'

1_Nature_of_Business_and_Going

1. Nature of Business and Going Concern	12 Months Ended
	Aug. 31, 2013
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	1.       Nature of Business and Going Concern
	Axiom Corp. (the “Company”) was incorporated in the State of Colorado on April 2, 2012. The Company’s planned principle business is the construction of major infrastructure developments, including roads, schools, hospitals and social housing, in eastern African markets of Kenya, Uganda and South Sudan.
	Going Concern
	These consolidated financial statements have been prepared on a going concern basis, which assumes the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As at August 31, 2013, the Company has incurred losses totaling $60,335 since inception, and has not yet generated any revenue from operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.  The ability of our company to continue as a going concern is dependent upon our company’s ability to attain a satisfactory level of profitability and obtain suitable and adequate financing. There can be no assurance that management’s plan will be successful.

2_Summary_of_Significant_Accou

2. Summary of Significant Accounting Policies	12 Months Ended
	Aug. 31, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	2.       Summary of Significant Accounting Policies
	a)        Basis of Presentation
	These consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States and are expressed in US dollars. The Company’s fiscal year end is August 31.
	b)       Principles of Consolidation
	The consolidated financial statements include the accounts of Axiom Corp and its 100% owned subsidiary, Acton Holdings Limited, a company incorporated in Kenya.  All significant intercompany balances and transactions have been eliminated upon consolidation.
	c)        Use of Estimates
	The preparation of consolidated financial statements in conformity with United States 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
	d)       Cash and Cash Equivalents
	The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
	e)        Financial Instruments
	The carrying amounts of financial instruments are considered by management to be their fair value due to their short term maturities.
	f)        Earnings (Loss) Per Share
	Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive. At August 31, 2013, the Company has no potentially dilutive securities outstanding.
	g)       Foreign Currency Translation
	The Company’s planned operations will be in the eastern African markets of Uganda, South Sudan and Kenya, which results in exposure to market risks from changes in foreign currency exchange rates. The financial risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk. The Company's functional currency for all operations worldwide is the U.S. dollar. Nonmonetary assets and liabilities are translated at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the year. Revenues and expenses are translated at average rates for the year. Gains and losses from translation of foreign currency financial statements into U.S. dollars are included in current results of operations.
	h)       Income Taxes
	The Company accounts for income taxes using the asset and liability method which provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.
	i)         Reclassifications
	Certain prior period amounts have been reclassified to conform to current period presentation.
	j)         Recent Accounting Pronouncements
	The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

3_Related_Party_Transactions

3. Related Party Transactions	12 Months Ended
	Aug. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	3.       Related Party Transactions
	As of August 31, 2013, the Company owes the sole director of the Company $846 for expenditures paid on behalf of the Company.  The amount owed is unsecured, non-interest bearing, and has no specified repayment terms.

4_Note_payable

4. Note payable	12 Months Ended
	Aug. 31, 2013
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	4.       Note payable
	During the year ended August 31, 2013, the Company received a loan in the amount of $3,019 from a third party.  The loan is unsecured, due on demand, and bears interest at 8% per annum.

5_Stockholders_Equity

5. Stockholders' Equity	12 Months Ended
	Aug. 31, 2013
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	5.       Stockholders’ Equity
	The Company’s authorized capital consists of 200,000,000 shares of common stock with a par value of $0.00001 per share and 100,000,000 shares of preferred stock with a par value of $0.00001 per share.
	On April 2, 2012, 30,000,000 shares of common stock were issued to the sole director of the Company at $0.0002 per share of proceeds of $6,000.
	On June 30, 2012, 26,433,333 share of common stock were issued at $0.0015 per share for proceeds of $39,650 to multiple third-party investors.

6_Income_Taxes

6. Income Taxes	12 Months Ended
	Aug. 31, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	6.       Income Taxes
	The Company is subject to United States federal income taxes at an approximate rate of 34%. The reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported is as follows:
			August 31,		August 31,
			2013		2012
	Income tax benefit computed at statutory rate	$	19,981	$	533
	Change in valuation allowance		-19,981		-533
	Provision for income taxes	$	–	$	–
	Potential benefit of non-capital losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the losses carried forward in future years. Significant components of the Company’s deferred ax assets and liabilities as at August 31, 2013 and 2012 after applying enacted corporate income tax rates, are as follows:
	Deferred income tax assets		August 31,		August 31,
			2013		2012
	Net operating losses	$	20,514	$	533
	Valuation allowance		-20,514		-533
	Net deferred income tax asset	$	–	$	–
	At August 31, 2013, the Company has net operating loss carry-forwards of $60,335 which expire commencing in 2032.
	We have not yet adopted a code of ethics that applies to our sole officer and director, or persons performing similar functions because we are in the start-up phase and are in the process of establishing our operations. We plan to adopt a code of ethics as and when our company grows to a sufficient size to warrant such adoption.
	We have not granted any options or stock appreciation rights to our named executive officers or directors since inception. We do not have any stock option plans.