AXIOM CORP.

CIK:0001566265|SEC Filings

Unaudited Interim Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue	$ 24,983	$ 11,301
Cost of revenue	11,237	7,297
Gross profit	13,746	4,004
Expenses
Advertising and promotion	124	1,333
Interest and financing costs	13,521	3,591
Office and general	13,801	8,127
Rent	2,960	3,273
Salaries and fees	86,110	156,263
Travel	1,070	5,160
Depreciation and amortization	3,245	5,087
Research and development	$ 14,685	683
Stock-based compensation		148,125
Professional fees	$ 24,116	55,353
Total operating expenses	159,631	386,995
Operating income (Loss)	(145,885)	(382,991)
Valuation adjustment of convertible loans payable	(78,505)
Gain (loss) on foreign exchange	(26,319)	(1,400)
Net loss and comprehensive loss for the period	(250,709)	$ (384,391)
Net loss and comprehensive loss attributed to non-controlling interest	(6,435)
Net loss and comprehensive loss attributed to Axiom Corporation	$ (244,274)	$ (384,391)
Net loss per share - basic and diluted	$ 0.00	$ (0.01)
Weighted average number of shares outstanding - basic and diluted	67,397,975	69,328,702

Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net loss for the period	$ (250,709)	$ (384,391)
Depreciation and amortization	3,245	5,087
Valuation adjustment of convertible loans	$ 78,505
Stock-based compensation		148,125
Accrued interest on loans	$ 13,521	$ 2,498
Related party loans and advances	49,585
Net changes in non-cash working capital:
Changes in accounts receivable	(3,263)	$ (667)
Change in inventory	7,199	5,983
Changes in prepaid expenses	13,390	5,020
Changes in accounts payable and accrued liabilities and other taxes payable	55,579	26,623
Changes in deferred revenue	(899)	(4,829)
Net cash flows (used in) operating activities	$ (33,847)	(196,551)
Investing activities
Purchase of equipment		(5,000)
Net cash flows from investing activities		(5,000)
Financing activities
Proceeds from shares to be issued		270,000
Related party loans and advances		60,367
Net cash flows generated by financing activities		330,367
Net (decrease) increase in cash	$ (33,846)	128,816
Cash, beginning of period	48,116	8,602
Cash, end of period	$ 14,270	$ 137,418

Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash	$ 14,270	$ 48,116
Accounts receivable (net of allowance of $nil (2014 - $nil)	12,990	9,727
Inventory	6,329	13,528
Prepaid expenses and other receivables	10,369	23,759
Total current assets	43,958	95,130
Non-current assets
Equipment	18,401	21,646
Total non-current assets	18,401	21,646
Total assets	62,359	116,776
Current liabilities
Accounts payable and accrued liabilities	312,357	251,433
Other taxes payable	693	3,450
Current portion of deferred revenue	8,470	7,948
Due to related parties	219,111	169,526
Loans payable and conversion features	551,581	462,142
Total current liabilities	1,092,212	894,499
Non-current liabilities
Deferred revenue	9,176	10,597
Total non-current liabilities	9,176	10,597
Total liabilities	1,101,388	905,096
Capital Stock:
Common stock, (authorized 200,000,000, issued 67,397,975, par value $0.00001 per share)	674	674
Additional paid-in capital	1,211,240	1,211,240
Accumulated other comprehensive income	36,633	36,633
Deficit	(2,242,924)	(1,998,650)
Axiom Corporation Ltd. Stockholders' deficit	(994,340)	(750,066)
Non-controlling interest	(44,689)	(38,254)
Total stockholders' deficit	(1,039,029)	(788,320)
Total liabilities and deficit	62,359	116,776
Series A Preferred Stock
Capital Stock:
Preferred stock, Value	27	27
Series B Preferred Stock
Capital Stock:
Preferred stock, Value	$ 10	$ 10