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EXCEL - IDEA: XBRL DOCUMENT - AFH ACQUISITION VII, INC.Financial_Report.xls
10-K - AFH ACQUISITION VII, INC.form10k.htm
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EX-32.1 - CERTIFICATION PURSUANT TO - AFH ACQUISITION VII, INC.ex32-1.htm
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EX-31.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE AND FINANCIAL OFFICER - AFH ACQUISITION VII, INC.ex31-1.htm
v2.4.0.6
The Company
12 Months Ended
Oct. 31, 2012
Company  
The Company

Note A - The Company
     
    AFH Acquisition VII, Inc., a development stage company (the “Company or “AFH””), was incorporated under the laws of the State of Delaware on September 24, 2007. The Company is 98.5% owned by AFH Holding & Advisory, LLC (the “Parent”). The financial statements presented represent only those transactions of AFH Acquisition VII, Inc. The Company is looking to acquire an existing company or acquire the technology to begin operations.
     
    As a blank check company, the Company’s business is to pursue a business combination through acquisition, or merger with, an existing company.
     
    Since inception, the Company has been engaged in organizational efforts.
     
    On October 5, 2012, the Parent, entered into a letter of intent (the “LOI”) with two target companies, Eurocar, Inc. (“Eurocar”) and Park Place Motor Ltd. (“Park Place”, together with Eurocar, the “Target Companies”), pursuant to which the Company intends to acquire the Target Companies through a series of transactions including a merger or other business combination (the “Reverse Merger”) pursuant to which AFH would cease to be a shell company, as defined in the rules of the Securities and Exchange Commission (the “SEC”) and Eurocar and Park Place will become a public company (“Pubco”). On October 26, 2012, AFH, Eurocar and Park Place entered into an amendment to the LOI, pursuant to which the parties to the LOI agreed to revise the provision with respect to the beneficial ownership of Pubco. On January 28, 2013, the parties to the LOI entered into a second amendment to the LOI, pursuant to which the parties to the LOI agreed to revise the provision with respect to the beneficial ownership of Pubco, provided for certain acknowledgments regarding the proceeds of the Private Placement (hereinafter defined), amended a provision regarding a potential subsequent financing and amended certain financial representations made by each of Eurocar and Park Place.