Company: CCCP
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001477932-25-001313
Chunk: 8

Company: Crona Corp.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 8
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 convertible note to shares.

The procedures performed includes:

 ·We review and evaluated Management plans and their intending business plans for business operations ·We reviewed the extension notice agreement and challenge the judgement made ·We reviewed the original and extended agreement for the notes. ·We raised confirmation to the note holders for confirmation of balances

 F-2Table of Contents

Going Concern Uncertainty – See also Going Concern Uncertainty explanatory paragraph above

As described further in Note 2 to the financial statements, the Company has suffered recurring losses from operations and does not have an established source of revenues sufficient to cover its operating costs. The ability of the Company to continue as a going concern is dependent on executing its business plan and ultimately to attain profitable operations. Accordingly, the Company has determined that these factors raise substantial doubt as to the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. 

Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. However, the Company has not concluded that these plans alleviate the substantial doubt related to its ability to continue as a going concern.

We determined the Company’s ability to continue as a going concern is a critical audit matter due to the estimation and uncertainty regarding the Company’s available capital and the risk of bias in management’s judgments and assumptions in their determination. Our audit procedures related to the Company’s assertion on its ability to continue as a going concern included the following, among others:

 ·We performed testing procedures such as analytical procedures to identify conditions and events that indicate that there could be substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time. ·We reviewed and evaluated management's plans for dealing with adverse effects of these conditions and events. ·We inquired of Company management and reviewed company records to assess whether there are additional factors that contribute to the uncertainties disclosed. ·We assessed whether the Company’s determination that there is substantial doubt about its ability to continue as a going concern was adequately disclosed.

/S/ Boladale Lawal

Boladale Lawal & CO (PCAOB ID 6993)

We have served as the Company's auditor since 2024

Lagos, Nigeria

February 25, 2025

 F-3Table of Contents

CRONA CORP.BALANCE SHEETS