Crown Equity Holdings Q1 2024: $450M Assets, $15.8M Net Income

TL;DR

**CRWE Q1 2024: $450M Assets, $15.8M Profit. Big quarter!**

AI Summary

Crown Equity Holdings, Inc. filed its 10-Q for the period ending March 31, 2024. The company reported total assets of $450,000,000 and net income of $15,814,800 for the quarter. Key events include subsequent events noted on May 1, 2024, and various member transactions occurring in February 2024.

Why It Matters

This filing provides a snapshot of Crown Equity Holdings' financial health and operational activities for the first quarter of 2024, including significant asset and income figures.

Risk Assessment

Risk Level: medium — The company has a history of name changes and its financial performance details are limited in this excerpt, suggesting potential volatility.

Key Numbers

• $450.0B — Total Assets (As of March 31, 2024)
• $15.8B — Net Income (For the quarter ended March 31, 2024)
• $13.4B — Revenue (For the quarter ended March 31, 2024)

Key Players & Entities

• Crown Equity Holdings, Inc. (company) — Filer
• 20240331 (date) — Reporting period end date
• $450,000,000 (dollar_amount) — Total assets
• $15,814,800 (dollar_amount) — Net income
• 20240501 (date) — Subsequent event date
• MikeZamanIrrevocableTrustMember (person) — Member involved in subsequent event
• MikeZamanMember (person) — Member involved in February transactions
• VinothSambandamMember (person) — Member involved in February transactions
• CloudNetworkSystemsIncMember (company) — Member involved in February transactions
• MontseZamanMember (person) — Member involved in February transactions

FAQ

Filing Documents

• crwe_10q.htm (10-Q) — 656KB
• crwe_ex311.htm (EX-31.1) — 9KB
• crwe_ex312.htm (EX-31.2) — 10KB
• crwe_ex321.htm (EX-32.1) — 4KB
• crwe_ex322.htm (EX-32.2) — 4KB
• 0001477932-24-003573.txt ( ) — 3891KB
• crwe-20240331.xsd (EX-101.SCH) — 48KB
• crwe-20240331_lab.xml (EX-101.LAB) — 229KB
• crwe-20240331_cal.xml (EX-101.CAL) — 36KB
• crwe-20240331_pre.xml (EX-101.PRE) — 205KB
• crwe-20240331_def.xml (EX-101.DEF) — 132KB
• crwe_10q_htm.xml (XML) — 653KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 (Audited) 4 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 18 Item 2.

Management's Discussion and Analysis and Plan of Operation

Management's Discussion and Analysis and Plan of Operation 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4T.

Controls and Procedures

Controls and Procedures

: OTHER INFORMATION

PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults upon Senior Securities 20 Item 4. Mine Safety Information 20 Item 5. Other Information 20 Item 6. Exhibits 21

Signatures

Signatures 22 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION DEFINITIONS In this Quarterly Report on Form 10-Q, the words "Crown Equity", the "Company", the "Registrant", "we", "our", "ours" and "us" refer to Crown Equity Holdings, Inc. DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q includes certain statements that may be deemed "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 volum

View Full Filing

View this 10-Q filing on SEC EDGAR