Exhibit 31.1

Certification of Principal Executive Officer and
Principal Financial Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act
of 2002
and Securities and Exchange Commission Release
34-46427

I, Amir F. Heshmatpour, certify that:

1. I have reviewed this annual report on Form 10-
KSB of AFH Holding III, Inc.;

 	2.	Based on my knowledge, this
report does not contain any untrue statement of a
material fact or omit to state a material fact necessary
to make the statements made, in light of the
circumstances under which such statements were
made, not misleading with respect to the period
covered by this report;

 	3.	Based on my knowledge, the
financial statements, and other financial information
included in this report, fairly present in all material
respects the financial condition, results of operations
and cash flows of the small business issuer as of, and
for, the periods presented in this report;

 	4.	The small business issuer's other
certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-
15(e) and 15d-15(e)) and internal control over
financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the small business issuer
and have:

 	 	A.	Designed such disclosure
controls and procedures, or caused such disclosure
controls and procedures to be designed under our
supervision, to ensure that material information
relating to the small business issuer, including its
consolidated subsidiaries, is made known to us by
others within those entities, particularly during the
period in which this report is being prepared;

 	 	B.	Designed such internal
controls over financial reporting, or caused such
internal control over financial reporting to be
designed under our supervision, to provide
reasonable assurance regarding the reliability of
financial reporting and the preparation of financial
statements for external purposes in accordance with
generally accepted accounting principles;

 	 	C.	Evaluated the
effectiveness of the small business issuer's disclosure
controls and procedures and presented in this report
our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of
the period covered by this report based on such
evaluation; and

 	 	D.	Disclosed in this report
any change in the small business issuer's internal
controls over financial reporting that occurred during
the small business issuer's most. recent fiscal quarter
(the small business issuer's fourth fiscal quarter in
the case of an annual report) that has materially
affected or is reasonably likely to materially affect,
the small business issuer's internal control over
financial reporting; and

 	5.	I have disclosed, based on my most
recent evaluation of internal control over financial
reporting, to the small business issuer's auditors and
the small business issuer's board of directors:

 	 	A.	All significant deficiencies
and material weaknesses in the design or operation of
internal control over financial reporting which are
reasonably likely to adversely affect the small
business issuer's ability to record, process,
summarize and report financial information; and

        	 	B.	Any fraud,
whether or not material, that involves management or
other employees who have a significant role in the
small business issuer's internal control over financial
reporting.

Date: March 27,2008


/s/ Amir F.
Heshmatpour




Amir F. Heshmatpour



Principal Executive
Officer and Principal
Financial Officer