Crown Equity Holdings Reports Q2 2024 Financials

TL;DR

CRWE Q2 2024: $450M assets, $15.8M liabilities. Big trust/capital moves post-period.

AI Summary

Crown Equity Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $450,000,000 and total liabilities of $15,814,800. Significant subsequent events include transactions involving Mike Zaman Irrevocable Trust and Vast Capital in July and August 2024.

Why It Matters

This filing provides a snapshot of Crown Equity Holdings' financial health and significant post-period events, which are crucial for investors to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — The company has substantial assets but also significant liabilities, and the nature of its business in retail computer and software stores can be subject to market fluctuations.

Key Numbers

• $450.0M — Total Assets (As of June 30, 2024)
• $15.8M — Total Liabilities (As of June 30, 2024)

Key Players & Entities

• Crown Equity Holdings, Inc. (company) — Filer
• 450000000 (dollar_amount) — Total Assets
• 15814800 (dollar_amount) — Total Liabilities
• MikeZamanIrrevocableTrustMember (company) — Subsequent Event Participant
• VastCapitalMember (company) — Subsequent Event Participant
• 20240630 (date) — Reporting Period End Date

FAQ

Filing Documents

• crwe_10q.htm (10-Q) — 811KB
• crwe_ex311.htm (EX-31.1) — 10KB
• crwe_ex312.htm (EX-31.2) — 9KB
• crwe_ex321.htm (EX-32.1) — 4KB
• crwe_ex322.htm (EX-32.2) — 4KB
• 0001477932-24-005174.txt ( ) — 4297KB
• crwe-20240630.xsd (EX-101.SCH) — 50KB
• crwe-20240630_lab.xml (EX-101.LAB) — 234KB
• crwe-20240630_cal.xml (EX-101.CAL) — 37KB
• crwe-20240630_pre.xml (EX-101.PRE) — 209KB
• crwe-20240630_def.xml (EX-101.DEF) — 135KB
• crwe_10q_htm.xml (XML) — 770KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 (Audited) 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis and Plan of Operation

Management's Discussion and Analysis and Plan of Operation 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4T.

Controls and Procedures

Controls and Procedures 21

: OTHER INFORMATION

PART II: OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults upon Senior Securities 22 Item 4. Mine Safety Information 22 Item 5. Other Information 22 Item 6. Exhibits 23

Signatures

Signatures 24 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