Axiom 10-K 15 Dec 14 2014 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Aug. 31, 2014	Dec. 01, 2014	Feb. 28, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	Axiom Corp.
Document Type	10-K
Current Fiscal Year End Date	-23
Entity Common Stock, Shares Outstanding		56,433,333
Entity Public Float			$6,494,943
Amendment Flag	FALSE
Entity Central Index Key	1566265
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-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Axiom_Corp_and_Subsidiary_Cons

Axiom Corp. and Subsidiary - Consolidated Balance Sheets (USD $)	Aug. 31, 2014	Aug. 31, 2013
Current Assets
Cash	$8,659	$829
Total Current Assets	8.659	829
Total Assets	8,659	829
Current Liabilities
Accounts payable and accrued liabilities	16,140	11,649
Due to related party	834	846
Loans payable	51,868	3,019
Total Current Liabilities	68,842	15,514
Total Liabilities	68,842	15,514
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
Accumulated Deficit	-105,833	-60,335
Total Stockholders’ Deficit	-60,183	-14,685
Total Liabilities and Stockholders’ Deficit	$8,659	$829

Axiom_Corp_and_Subsidiary_Cons1

Axiom Corp. and Subsidiary - Consolidated Balance Sheets (Parentheticals) (USD $)	Aug. 31, 2014	Aug. 31, 2013
Preferred stock par value (in Dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	56,433,333	56,433,333
Common stock, shares outstanding	56,433,333	56,433,333

Axiom_Corp_and_Subsidiary_Cons2

Axiom Corp. and Subsidiary - Consolidated Statement of Operations (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
Expenses
General and administrative	$42,777	$58,708
Loss Before Other Expense	42,777	58,708
Other expense
Interest expense	2,721	60
Net Loss	($45,498)	($58,768)
Net Loss Per Share – Basic and Diluted (in Dollars per share)	$0	$0
Weighted Average Shares Outstanding-Basic and Diluted (in Shares)	56,433,333	56,433,333

Axiom_Corp_and_Subsidiary_Cons3

Axiom Corp. and Subsidiary - Consolidated Statements of Stockholders' Deficit (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance – at Sep. 02, 2012
Net loss for the year			($58,768)	($58,768)
Balance – at Aug. 31, 2013	564	45,086	-60,335	-14,685
Balance – (in Shares) at Aug. 31, 2013	56,433,333
Net loss for the year			-45,498	-45,498
Balance – at Aug. 31, 2014	$564	$45,086	($105,833)	($60,183)
Balance – (in Shares) at Aug. 31, 2014	56,433,333

Axiom_Corp_and_Subsidiary_Cons4

Axiom Corp. and Subsidiary - Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
Cash Flows from Operating Activities
Net loss	($45,498)	($58,768)
Adjustments to reconcile net loss to net cash used in operating activities:
Expenses paid by a related party	1,014	141
Expenses paid by a third party	15,650
Changes in operating assets and liabilities:
Increase in accounts payable and accrued liabilities	4,491	11,649
Net Cash Used In Operating Activities	-24,343	-46,978
Cash Flows from Financing Activities
Proceeds from notes payable	33,199
Payments to related parties	-1,026
Proceeds from the issuance of common stock		3,019
Net Cash Provided by Financing Activities	32,173	3,019
Increase (Decrease) in Cash	7,830	-43,959
Cash - Beginning of Period	829	44,788
Cash - End of Period	8,659	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, 2014
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 principal 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, 2014, the Company has incurred losses totalling $105,833 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 Company intends to meet its cash requirements for the next 12 months through a combination of debt financing and equity financing by way of private placements. The Company decided to become a reporting company to be better equipped to raise capital by providing transparency to the public about our operations and development. The Company currently does not have any arrangements in place to complete any additional private placement financings and there is no assurance that the Company will be successful in completing any such financings on terms that will be acceptable to it.
	If the Company is not able to raise the funds necessary to implement its business plan as anticipated, it will scale back its business development in line with available capital. The Company’s main priority will be to retain its reporting status with the Securities and Exchange Commission which means that it will first ensure that it has sufficient capital to cover its legal and accounting expenses. Once these costs are accounted for, in accordance with how much financing the Company is able to secure, the Company will focus on securing infrastructure projects, marketing and advertising its services, and paying consulting and management fees. The Company will likely not expend funds on the remainder of its planned activities unless it has the required capital.
	If the Company is able to raise the required funds to fully implement its business plan, it plans to implement the business actions in the order provided below. If the Company is not able to raise all required funds, it will prioritize its corporate activities as chronologically laid out below because the activities that need to be undertaken in the Company’s initial months of operations are prerequisites for its planned future operations. The Company anticipates that the implementation of its business will occur as follows:
	December 2014 to June 2015
	·         Determine if the Company wishes to continue to wait for Ethiopian Ministry of Mines to grant the Company prospective potash claims;
	·         Seek another field manager to assist the Company’s president;
	·         Seek other infrastructure opportunities in Ethiopia;
	·         Seek out other agriculture and agro businesses;
	·         Design marketing materials;
	·         Market the Company’s services to its various government contacts;
	·         Hire personnel to market its services; and
	·         Complete certain asset purchases and set up inter-company satellite offices.
	July 2015 to November 2015
	·         Review opportunities with the various governments;
	·         Establish additional local offices in the region;
	·         Establish a partnership or strategic relationship with another infrastructure development company; and
	·         Look at other markets for any opportunities.

2_Summary_of_Significant_Accou

2. Summary of Significant Accounting Policies	12 Months Ended
	Aug. 31, 2014
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. In prior years, the Company had funds in a bank account in Ethiopia, which were designated as a minimum amount of liquid capital available while the Company applied for a business license in Ethiopia. The Company is no longer pursuing this license and accordingly, these funds have not been segregated from Cash and Cash Equivalents at August 31, 2014.
	e)       Financial Instruments
	The Company’s financial instruments consist principally of cash, accounts payable, related party payables and loan payable. The fair value of the Company’s cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The carrying value of accounts payable, related party payables and loans payable approximates their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.
	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, 2014, 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)         Recent Accounting Pronouncements
	During the year ended August 31, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this Update allows the Company to remove the inception-to-date information and all references to development stage.
	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, 2014
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	3.       Related Party Transactions
	As of August 31, 2014, the Company owes the sole director of the Company $834 (2013 - $846) for expenditures paid on behalf of the Company.  The amount owed is unsecured, non-interest bearing, and has no specified repayment terms.
	During the year ended August 31, 2014, expenses of $1,014 (net of foreign exchange adjustment) were incurred on behalf of the Company by the former Vice President of the Company and the Company repaid $1,026 during the period.

4_Loan_payable

4. Loan payable	12 Months Ended
	Aug. 31, 2014
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	4.       Loan payable
	On August 1, 2013, the Company entered into a line of credit agreement with a third party, enabling the Company to borrow up to $50,000, at 8% per annum, with related amounts being due on demand. During the year ended August 31, 2014, the third party agreed to increase the maximum principal amount to $85,000. As at August 31, 2014, the amount outstanding under this line of credit was $51,868, with accrued interest of $2,762.

5_Stockholders_Equity

5. Stockholders' Equity	12 Months Ended
	Aug. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [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.
	There were no stock transactions during the years ended August 31, 2014 and 2013.

6_Income_Taxes

6. Income Taxes	12 Months Ended
	Aug. 31, 2014
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,
			2014		2013
	Income tax benefit computed at statutory rate	$	15,469	$	19,981
	Change in valuation allowance		-15,469		-19,981
	Provision for income taxes	$	–	$	–
	Potential benefit of non-capital losses have not been recognized in these financial statements because the Company cannot be assumed it is more likely than not it will utilize the losses carried forward in future years. Significant components of the Company’s deferred tax assets and liabilities as at August 31, 2014 and 2013 after applying enacted corporate income tax rates, are as follows:
	Deferred income tax assets		August 31,		August 31,
			2014		2013
	Net operating losses	$	35,983	$	20,514
	Valuation allowance		-35,983		-20,514
	Net deferred income tax asset	$	–	$	–
	At August 31, 2014, the Company has net operating loss carry-forwards of $105,833 which expire commencing in 2032.
	As of August 31, 2014 and 2013, the Company has no unrecognized income tax benefits. The Company's policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded during the years ended August  31, 2014 and 2013, and no interest or penalties have been accrued as of August  31, 2014 and 2013. As of August  31, 2014 and 2013, the Company did not have any amounts recorded pertaining to uncertain tax positions.
	The tax years from 2012  and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	12 Months Ended
	Aug. 31, 2014
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	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.
Consolidation, Policy [Policy Text Block]	All significant intercompany balances and transactions have been eliminated upon consolidation.
Use of Estimates, Policy [Policy Text Block]	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.
Cash and Cash Equivalents, Policy [Policy Text Block]	The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.
Fair Value of Financial Instruments, Policy [Policy Text Block]	The Company’s financial instruments consist principally of cash, accounts payable, related party payables and loan payable. The fair value of the Company’s cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The carrying value of accounts payable, related party payables and loans payable approximates their fair value because of the short maturity of these instruments.
Earnings Per Share, Policy [Policy Text Block]	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.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	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.
Income Tax, Policy [Policy Text Block]	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.

6_Income_Taxes_Tables

6. Income Taxes (Tables)	12 Months Ended
	Aug. 31, 2014
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]			August 31,		August 31,
			2014		2013
	Income tax benefit computed at statutory rate	$	15,469	$	19,981
	Change in valuation allowance		-15,469		-19,981
	Provision for income taxes	$	–	$	–
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred income tax assets		August 31,		August 31,
			2014		2013
	Net operating losses	$	35,983	$	20,514
	Valuation allowance		-35,983		-20,514
	Net deferred income tax asset	$	–	$	–

1_Nature_of_Business_and_Going1

1. Nature of Business and Going Concern (Details) (USD $)	Aug. 31, 2014	Aug. 31, 2013
Disclosure Text Block [Abstract]
Retained Earnings (Accumulated Deficit)	($105,833)	($60,335)

3_Related_Party_Transactions_D

3. Related Party Transactions (Details) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
Related Party Transactions [Abstract]
Due to Related Parties	$834	$846
RepaymentOfRelatedPartyDebt	$1,026

4_Loan_payable_Details

4. Loan payable (Details) (USD $)	13 Months Ended
	Aug. 31, 2014	Aug. 01, 2013
Debt Disclosure [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity		$50,000
Debt Instrument, Interest Rate, Stated Percentage		8.00%
Notes Payable, Noncurrent		85,000
Line of Credit Facility, Amount Outstanding	51,868
Interest Expense, Borrowings	$2,762

5_Stockholders_Equity_Details

5. Stockholders' Equity (Details) (USD $)	Aug. 31, 2014	Aug. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Par or Stated Value Per Share	$0.00	$0.00
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Par or Stated Value Per Share	$0.00	$0.00

6_Income_Taxes_Details

6. Income Taxes (Details) (USD $)	12 Months Ended
	Aug. 31, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%
Operating Loss Carryforwards	$105,833

6_Income_Taxes_Details_The_Com

6. Income Taxes (Details) - The Company is subject to United States federal income taxes at an approximate rate of 34%. The reco (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
The Company is subject to United States federal income taxes at an approximate rate of 34%. The reco [Abstract]
Income tax benefit computed at statutory rate	$15,469	$19,981
Change in valuation allowance	($15,469)	($19,981)

6_Income_Taxes_Details_Potenti

6. Income Taxes (Details) - Potential benefit of non-capital losses have not been recognized in these financial statements becau (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
Potential benefit of non-capital losses have not been recognized in these financial statements becau [Abstract]
Net operating losses	$35,983	$20,514
Valuation allowance	($35,983)	($20,514)

Uncategorized_Items

Uncategorized Items
[us-gaap_SharesIssued]	56,433,333
[us-gaap_StockholdersEquity]		45,086	564	-1,567