Crown Equity Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Crown Equity Holdings, Inc. (CRWE) has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Crown Equity Holdings, Inc. (CRWE) filed a Annual Report (10-K) with the SEC on April 18, 2024. Crown Equity Holdings, Inc. (CRWE) filed its 2023 10-K report on April 18, 2024. The company's fiscal year ends on December 31st. CRWE's former names include MICRO BIO-MEDICAL WASTE SYSTEMS, INC. and 20/20 NETWORKS INC. The company is incorporated in Nevada (NV). CRWE's business and mailing address is located at 11226 Pentland Downs St., Las Vegas, NV 89146.

Why It Matters

For investors and stakeholders tracking Crown Equity Holdings, Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. Investors and analysts can use this report to assess CRWE's financial health, strategic direction, and potential for future growth.

Risk Assessment

Risk Level: low — Crown Equity Holdings, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant new financial or operational disclosures that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand CRWE's performance and outlook for 2023.

Financial Highlights

debt To Equity

0.001

revenue

450000000

operating Margin

0

total Assets

1000

total Debt

0

net Income

13385047

eps

13396226

gross Margin

0

cash Position

20001000

revenue Growth

0.001

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-04-18 — Filing Date (Filed as of Date)
• 5734 — Standard Industrial Classification (SIC Code for Retail-Computer & Computer Software Stores)
• 330677140 — IRS Number (Company IRS Number)
• 000-29935 — SEC File Number (SEC Act of 1934 File Number)

Key Players & Entities

• Crown Equity Holdings, Inc. (company) — Filer
• CRWE (company) — Ticker Symbol
• MICRO BIO-MEDICAL WASTE SYSTEMS, INC. (company) — Former Company Name
• 20/20 NETWORKS INC (company) — Former Company Name
• NV (location) — State of Incorporation
• 11226 PENTLAND DOWNS ST. (address) — Business Address
• LAS VEGAS (location) — Business Address City
• 89146 (postal_code) — Business Address Zip

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-18: Filing Date — Date the 10-K was officially filed with the SEC.

Key Financial Figures

• $6,739 — s of December 31, 2023, the Company has $6,739 in cash, $0.00 held in brokerage accoun
• $0.00 — , 2023, the Company has $6,739 in cash, $0.00 held in brokerage accounts and $0.00 of
• $1,469,447 — Company had negative working capital of $1,469,447, which consisted of current assets of $
• $1,476,186 — ts of $6,739 and current liabilities of $1,476,186. The current liabilities of the Company
• $1,385,768 — ccounts payable and accrued expenses of $1,385,768 accounts payable and accrued expenses t
• $1,208,740 — nd accrued expenses to related party of $1,208,740 and note payable to related parties of
• $9,500 — and note payable to related parties of $9,500, convertible notes payable to related p
• $19,028 — elated parties, net of debt discount of $19,028, and current portion of long-term debt
• $80,281 — ng the year ended December 31, 2023 was $80,281 compared to cash flow used of $89,366 f
• $89,366 — s $80,281 compared to cash flow used of $89,366 for the same period in 2022. Cash flo
• $67,000 — in investing activities were $0.00 and $67,000 for the years ended December 31, 2023 a
• $84,090 — ws provided by financing activities was $84,090 for the year ended December 31, 2023 co
• $20,976 — ear ended December 31, 2023 compared to $20,976 for the same period in 2022. The financ
• $1,469,477 — rs' deficit as of December 31, 2023 was $1,469,477 compared to a deficit of $1,380,331 on
• $1,380,331 — was $1,469,477 compared to a deficit of $1,380,331 on December 31, 2022. The Company will

Filing Documents

• crwe_10k.htm (10-K) — 1037KB
• crwe_ex31.htm (EX-3.1) — 4KB
• crwe_ex32.htm (EX-3.2) — 8KB
• crwe_ex311.htm (EX-31.1) — 11KB
• crwe_ex312.htm (EX-31.2) — 11KB
• crwe_ex321.htm (EX-32.1) — 4KB
• crwe_ex322.htm (EX-32.2) — 4KB
• crwe_ex32img15.jpg (GRAPHIC) — 164KB
• crwe_ex32img17.jpg (GRAPHIC) — 180KB
• crwe_ex32img16.jpg (GRAPHIC) — 175KB
• crwe_ex32img19.jpg (GRAPHIC) — 196KB
• crwe_ex32img14.jpg (GRAPHIC) — 171KB
• crwe_ex32img13.jpg (GRAPHIC) — 145KB
• crwe_ex31img6.jpg (GRAPHIC) — 76KB
• crwe_ex31img5.jpg (GRAPHIC) — 135KB
• crwe_ex31img4.jpg (GRAPHIC) — 152KB
• crwe_ex31img3.jpg (GRAPHIC) — 131KB
• crwe_ex31img2.jpg (GRAPHIC) — 113KB
• crwe_ex31img1.jpg (GRAPHIC) — 142KB
• crwe_ex32img20.jpg (GRAPHIC) — 225KB
• crwe_ex32img21.jpg (GRAPHIC) — 174KB
• crwe_ex32img22.jpg (GRAPHIC) — 185KB
• crwe_ex32img23.jpg (GRAPHIC) — 161KB
• crwe_ex32img24.jpg (GRAPHIC) — 174KB
• crwe_ex32img25.jpg (GRAPHIC) — 81KB
• crwe_ex32img18.jpg (GRAPHIC) — 173KB
• 0001477932-24-002238.txt (&nbsp;) — 9239KB
• crwe-20231231.xsd (EX-101.SCH) — 60KB
• crwe-20231231_lab.xml (EX-101.LAB) — 276KB
• crwe-20231231_cal.xml (EX-101.CAL) — 39KB
• crwe-20231231_pre.xml (EX-101.PRE) — 243KB
• crwe-20231231_def.xml (EX-101.DEF) — 160KB
• crwe_10k_htm.xml (XML) — 966KB

Business

Business 4 ITEM 1A

Risk Factors

Risk Factors 5 ITEM 1B Unresolved Staff Comments 5 ITEM 1C Cybersecurity 5 ITEM 2

Properties

Properties 5 ITEM 3

Legal Proceedings

Legal Proceedings 5 ITEM 4 Mine Safety Disclosures 5 PART II ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters, and Issuers Purchase of Equity Securities 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 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 9 ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 10 ITEM 9A

Controls and Procedures

Controls and Procedures 10 ITEM 9B Other Information 11 PART III ITEM 10 Directors and Executive Officers, and Corporate Governance 12 ITEM 11

Executive Compensation

Executive Compensation 14 ITEM 12

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

Security Ownership of Certain Beneficial Owners and Management and Related Stock Matters 16 ITEM 13 Certain Relationships and Related Transactions 17 ITEM 14 Principal Accounting Fees and Services 19 PART IV ITEM 15 Exhibits 20

SIGNATURES

SIGNATURES 21 2 Table of Contents PART I DISCLOSURE REGARDING FORWARD LOOKING STATEMENT Certain statements contained in this Annual Report on Form 10-K may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, all of which are based upon various estimates and assumptions that the Company believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "seek," "estimate," "predict," "potential," "pursue," "target," "continue," the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause the Company's actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to: the possibility that certain tax benefits of our net operating losses may be restricted or reduced in a change in ownership or a further change in the federal tax rate; the inability to carry out plans and strategies as expected limitations on the availability of sufficient credit or cash flow to fund our working capital needs and capital expenditures and debt service; difficulty in fulfilling the terms of our convertible note payables, which could result in a default and acceleration of our indebtedness under our convertible note payables; the possibility that we issue additional shares of common stock or convertible securities that will dilute the percentage ownership interest of existing stockholders and may dilute the book value per share of our common stock; the relatively low trading volume of our common stock, which could depress our stock price; competition in the industries in which we operate, both from third parties and former employees, which could res

: BUSINESS

ITEM 1: BUSINESS A) General Crown Equity Holdings Inc., formerly known as Micro Bio-Medical Waste Systems, Inc. (the "Company") was incorporated on August 31, 1995 as "Visioneering Corporation" under the laws of the State of Nevada. In December, 2010, the Company formed two wholly owned subsidiaries Crown Tele Services Inc. and CRWE Direct Inc. Crown Tele Services Inc. was formed to provide voice over internet services to clients at a competitive price, CRWE Direct Inc. was formed to provide direct sales to customers. In December 2011, the Company formed a wholly owned subsidiary CRWE Real Estate Inc. to hold real estate. This entity had no sales during the year. The company sold the above subsidiaries (Crown Tele Services Inc., CRWE Direct, and CRWE Real Estate Inc.) on the 28 th of December, 2017. At the present time, the Company is offering its services to domestic and global companies seeking to become public entities in the United States. It has launched a website, www.crownequityholdings.com, which offers its services in a wide range of fields. The Company provides various consulting services to companies and individuals dealing with corporate structure and operations globally. The Company also provides public relations and news dissemination for publicly and privately held companies. In 2009, the Company re-focused its primary vision to using its network of websites to provide advertising and marketing services, as a worldwide online media advertising publisher, dedicated to the distribution of quality branding information. The Company offers Internet media-driven advertising services, which cover and connect a wide range of marketing specialties, as well as search engine optimization for clients interested in online media awareness. As part of its operations, the Company has utilized the services of software and hardware technicians in developing its websites and adding additional websites. This allows the Company to disseminate news and press releas

: RISK FACTORS

ITEM 1A: RISK FACTORS We have experienced net losses and negative cash flows from operating activities and can expect such losses and negative cash flows to continue in the foreseeable future. Our ability to continue as a going concern is dependent upon raising capital from financing transactions and future sales. If we are unable to adapt to changing market conditions, client requirements or emerging industry standards, our business could be adversely affected. Because of inherent limitations, a system of internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate due to change in conditions. These broad market fluctuations may adversely affect the market price of our common stock. In addition, if our operating results differ from our announced guidance or the expectations of equity research analysts or investors, the price of our common stock could decrease significantly.

: UNRESOLVED STAFF COMMENTS

ITEM 1B: UNRESOLVED STAFF COMMENTS None.

CYBERSECURITY

ITEM 1C. CYBERSECURITY Not applicable.

: PROPERTIES

ITEM 2: PROPERTIES The Company is provided office space by one of the officers and directors at no charge. The Company believes that this office space is sufficient for its needs for the foreseeable future.

: LEGAL PROCEEDINGS

ITEM 3: LEGAL PROCEEDINGS None

: MINE SAFETY DISCLOSURES

ITEM 4: MINE SAFETY DISCLOSURES None. 5 Table of Contents PART II

: MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5: MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES The Company's common stock is currently traded on the OTC Electronic Bulletin Board in the United States, having the trading symbol "CRWE" and CUSIP #22834M305. The Company's stock is traded on the OTC Electronic Bulletin Board. As of December 31, 2023, the Company had 13,396,226 shares of its common stock issued and outstanding of which 10,547,681 were held by affiliates. The following table reflects the high and low quarterly bid prices for the fiscal years ended December 31, 2023 and 2022. Period High Low First Quarter 2023 1.27 0.26 Second Quarter 2023 0.88 0.15 Third Quarter 2023 0.37 0.10 Fourth Quarter 2023 0.06 0.45 First Quarter 2022 1.75 0.75 Second Quarter 2022 1.74 1.66 Third Quarter 2022 1.66 0.21 Fourth Quarter 2022 1.34 1.23 These quotations may reflect inter-dealer prices without retail mark-up/mark-down/commission and may not reflect actual transactions. As of December 31, 2023, the Company estimates there are approximately 109 "holders of record" of its common stock and estimates that there are no beneficial shareholders of its common stock. The Company has authorized 450,000,000 shares of common stock, par value $.001 and 20,001,000 shares of preferred stock, par value $.001, of which 1,000 are designated Series A. The 1,000 Series A preferred stock are outstanding and granted to our President. No other preferred shares are issued and outstanding.

: SELECTED FINANCIAL DATA

ITEM 6: SELECTED FINANCIAL DATA We are a smaller reporting company as defined by Rule 12b-2 of the Securities and Exchange Act of 1934 and are not required to provide information under this item.

: 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 OVERVIEW The following discussion of the financial condition, changes in financial condition and results of operations of the Company for the fiscal years ended December 31, 2023 and 2022 should be read in conjunction with the financial statements of the Company and related notes included therein. The Company was incorporated on August 31, 1995 as Visioneering Corporation. In 1999, the Company acquired 20/20 Web Design, Inc., a Colorado corporation wholly owned by Crown Partners, Inc. In August, 2009, Crown Partners transferred its shares of the Company to Crown Marketing Corporation ("Crown Marketing") in exchange for marketing and public relation services to be provided by Crown Marketing. 6 Table of Contents The Company continues to search for additional areas in which it can generate revenue so that the Company will become profitable but there can be no guarantee that profitability will be achieved in the near- or long-term. The Company will attempt to carry out its business plan as discussed below. The Company's business plan is to continue building its network of online publishing sites, as well as continuing to provide consulting and services to its client on an as-needed basis. These services include general and financial management to private and public companies with an emphasis on their financial reporting and filing requirements. Such services are subject to the needs of its clients and may vary by company. The Company will attempt to carry out its business plan as described above. The Company cannot predict to what extent its lack of liquidity and capital resources will hinder its business plan prior to the consummation of a business combination. LIQUIDITY AND CAPITAL RESOURCES Since inception, the Company's most significant change in liquidity or capital resources or stockholders' equity has been receipts of proceeds from offerings of its capital

: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA INDEX TO FINANCIAL STATEMENTS PAGE Report of Independent Registered Public Accounting Firm (FIRM ID: 2738 ) F-1 Consolidated Balance Sheets as of December 31, 2023 and 2022 F-2 Consolidated Statements of Operations for the Years Ended December 31, 2023 and 2022 F-3 Consolidated Statements of Changes in Stockholders' Deficit for the Years Ended December 31, 2023 and 2022 F-4 Consolidated Statements of Cash Flows for the Years Ended December 31, 2023 and 2022 F-5 Notes to the Financial Statements F-6 9 Table of Contents REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of Crown Equity Holdings, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Crown Equity Holdings, Inc. (the Company) as of December 31, 2023 and 2022, and the related consolidated statements of operations, shareholders' equity (deficit), and cash flows for each of the years in the two-year period ended December 31, 2023, and the related notes (collectively referred to as the financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company has an accumulated deficit, negative cash flows from operations, and has a net working capital deficiency, which raises substantial doubt about its ability to continue as a going concern. Management's plans regarding those ma

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