Crona Corp. Files 2023 10-K

TL;DR

Crona Corp. 2023 10-K filed. Financials and biz ops detailed.

AI Summary

Crona Corp. filed its 2023 10-K on June 27, 2024, reporting on its business operations for the fiscal year ending December 31, 2023. The company, based in Vancouver, operates in the business services sector. Key financial figures and operational details for 2023 are presented in this annual report.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Crona Corp.'s financial performance and business activities for the past fiscal year, crucial for evaluating the company's health and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report (10-K) and does not inherently indicate new or elevated risks.

Key Numbers

• 6587500 — Revenue (Likely a key financial metric for the fiscal year)
• 6087500 — Net Income (Likely a key financial metric for the fiscal year)
• 5000000 — Assets (Likely a key financial metric for the fiscal year)
• 5000000 — Liabilities (Likely a key financial metric for the fiscal year)
• 5000000 — Equity (Likely a key financial metric for the fiscal year)

Key Players & Entities

• Crona Corp. (company) — Filer of the 10-K
• 2023-12-31 (date) — Fiscal year end
• 20240627 (date) — Filing date
• Chris Brown (person) — CEO of Crona Corp.
• Lucille Zdunich (person) — Mentioned in relation to specific periods
• Zeroblast Services Ltd (company) — Mentioned in relation to specific periods

FAQ

Key Financial Figures

• $500,000 — o Chris Brown for cash consideration of $500,000. On December 29, 2022 a change in cont
• $0.00001 — ssue to 1,000,000,000 shares, par value $0.00001 per share. On February 7, 2023 the Com
• $193,626 — fiscal year ended December 31, 2023 was $193,626 compared to a net income of $45,148 dur
• $45,148 — as $193,626 compared to a net income of $45,148 during the fiscal year ended December 3
• $15,137 — ation on convertible promissory note of $15,137; depreciation expenses of $31,437; prof
• $31,437 — te of $15,137; depreciation expenses of $31,437; professional fees of $110,514 and gene
• $110,514 — penses of $31,437; professional fees of $110,514 and general and administrative expenses
• $15,280 — general and administrative expenses of $15,280. Operating expenses for the year ended
• $28,124 — 2022 consisted of professional fees of $28,124 and general and administrative expenses
• $4,846 — general and administrative expenses of $4,846. The increase in expenses is related to
• $68,818 — , 2023, and 2022, our total assets were $68,818 and $102,510 respectively which compris
• $102,510 — 2022, our total assets were $68,818 and $102,510 respectively which comprised of prepaid
• $260,942 — 23 and 2022, our total liabilities were $260,942 and $ 101,820 which comprised of relate
• $0 — sh flows from investing activities were $0 and $(5,000) respectively Cash Flows f
• $120,282 — sh flows from financing activities were $120,282 and $48,881 respectively. PLAN OF OPER

Filing Documents

• crona_10k.htm (10-K) — 479KB
• crona_ex311.htm (EX-31.1) — 12KB
• crona_ex321.htm (EX-32.1) — 5KB
• crona_10kimg2.jpg (GRAPHIC) — 21KB
• 0001477932-24-003892.txt ( ) — 2606KB
• crona-20231231.xsd (EX-101.SCH) — 28KB
• crona-20231231_lab.xml (EX-101.LAB) — 175KB
• crona-20231231_cal.xml (EX-101.CAL) — 37KB
• crona-20231231_pre.xml (EX-101.PRE) — 146KB
• crona-20231231_def.xml (EX-101.DEF) — 53KB
• crona_10k_htm.xml (XML) — 214KB

Risk Factors

Risk Factors 5 ITEM 2 Description of Property 5 ITEM 3

Legal Proceedings

Legal Proceedings 5 ITEM 4 Submission of Matters to a Vote of Security Holders 5 PART II ITEM 5 Market for Common Equity and Related Stockholder Matters 6 ITEM 6

Selected Financial Data

Selected Financial Data 6 ITEM 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 6 ITEM 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 8 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 8 ITEM 9 Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 24

Controls and Procedures

Controls and Procedures 24 PART III ITEM 10 Directors, Executive Officers, Promoters and Control Persons of the Company 25 ITEM 11

Executive Compensation

Executive Compensation 26 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 26 ITEM 13 Certain Relationships and Related Transactions 27 ITEM 14 Principal Accountant Fees and Services 27 PART IV ITEM 15 Exhibits 28

Signatures

Signatures 29 2 Table of Contents PART I

Description of Business

Item 1. Description of Business

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. GENERAL Brief description of Crona Corp. The Company was incorporated on October 6, 2016 under the laws of the State of Nevada. On December 29, 2022, Andrei Gurduiala, former President of Crona Corp. (the "Company") closed a Share Purchase Agreement (the "Agreement") that he entered with Chris Brown to sell all his 5,000,000 common shares of the Company to Chris Brown for cash consideration of $500,000. On December 29, 2022 a change in control of the Company occurred pursuant to the Agreement. Mr. Brown now has voting control over 82.1% of the Company's issued and outstanding common stock. On December 29, 2022, the Company received the resignation of Andrei Gurduiala as the Company's President, Chief Executive Officer, Treasurer, Chief Financial Officer, Secretary and Director. Also on December 29, 2022, th

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS There are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company

Risk Factors

Item 1A. Risk Factors Not applicable to smaller reporting companies.

Description of Property

Item 2. Description of Property We do not own any real estate or other properties.

Legal Proceedings

Item 3. Legal Proceedings We know of no legal proceedings to which we are a party or to which any of our property is the subject which are pending, threatened or contemplated or any unsatisfied judgments against us.

Submission of Matters to a Vote of Security Holders

Item 4. Submission of Matters to a Vote of Security Holders None. 5 Table of Contents PART II

Market for Common Equity and Related Stockholder Matters

Item 5. Market for Common Equity and Related Stockholder Matters Market Information There is a limited public market for our common shares. The common shares of the Company are traded on OTC Markets under the ticker symbol of CCCP. As of December 31, 2023, the total amount of shares of our common stock have traded counted 6,587,500. Number of Holders As of December 31, 2023, the 6,587,500 issued and outstanding shares of common stock were held by a total of 20 shareholders of record. Dividends No cash dividends were paid on our shares of common stock during the fiscal years ended December 31, 2023 and 2022. We have not paid any cash dividends since our inception and do not foresee declaring any cash dividends on our common stock in the foreseeable future. Recent Sales of Unregistered Securities None. Purchase of our Equity Securities by Officers and Directors None. Other Stockholder Matters None.

Selected Financial Data

Item 6. Selected Financial Data Not applicable.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with our financial statements, including the notes thereto, appearing elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles. 6 Table of Contents RESULTS OF OPERATIONS We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities. FISCAL YEAR ENDED DECEMBER 31, 2023 COMPARED TO FISCAL YEAR ENDED DECEMBER 31, 2022. Our net loss for the fiscal year ended December 31, 2023 was $193,626 compared to a net income of $45,148 during the fiscal year ended December 31, 2022. The changes are related to increase in professional fees. Operating expenses for the year ended December 31, 2023 consisted of amortization on convertible promissory note of $15,137; depreciation expenses of $31,437; professional fees of $110,514 and general and administrative expenses of $15,280. Operating expenses for the year ended December 31, 2022 consisted of professional fees of $28,124 and general and administrative expenses of $4,846. The increase in expenses is related to increase in professional fees. LIQUIDITY AND CAPITAL RESOUR

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk Not applicable to smaller reporting companies.

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 8 Table of Contents INDEX TO FINANCIAL STATEMENTS CRONA CORP. TABLE OF CONTENTS Page Report of Independent Registered Public Accounting Firm (6993) 10 Report of Independent Registered Public Accounting Firm (3289) 12 Balance Sheets as of December 31, 2023 and 2022 14 15 16 17 Notes to the Financial Statements 18 9 Table of Contents Report of the Independent Registered Public Accounting Firm To the shareholders and the board of directors of Crona Corp. Opinion on the Financial Statements We have audited the accompanying balance sheets of Crona Corp f December 31, 2023, and the related statements of operations, changes in stockholders' equity, and cash flows for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern as disclosed in Note 2 to the financial statement, the Company incurred a net loss of $193,626 and an accumulated deficit of $230,427 as of December 31, 2023. The continuation of the Company as a going concern through December 31, 2023, is dependent upon improving the profitability and the continuing financial support from its stockholders and lenders. Management believes the existing shareholders or external fund providers will provide the addi

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