Company: CCCP
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001477932-25-006183
Chunk: 21

Company: Crona Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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, and leases classified as operating leases) will recognize a right-to-use asset and a lease liability on the balance sheet, initially measured as the present value of lease payments under the lease. The guidance permits companies to make an accounting policy election not to apply the recognition provisions of the guidance to short term leases (leases with a lease term of 12 months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise). If this election is made, lease payments under short term leases will be recognized on a straight-line basis over the lease term. The Company has elected not to apply the standard to short-term leases. Recent Accounting PronouncementsThere have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended June 30, 2025, that are of significance or potential significance to the Company.

 9Table of Contents

Note 4 – ASSET AQUISITION On December 29, 2022, the Company entered into an Asset Purchase Agreement with Zeroblast Services Ltd. (Seller), then a related party, to acquire all business assets of the Seller, which included equipment and intangible assets. The Seller also conveyed any and all contracts that it has with its current customers, written, oral or otherwise (the intangible assets). Consideration for the asset acquisition was a cash payment of 100,000 ($24,980 for the equipment and $75,020 for the intangible asset) in the form of a Promissory Note due on or before December 29, 2024. This note bears interest at 7% per annum, however if the note is fully repaid within twelve (12) months interest is waived. At any time during the first twelve (12) months the note can be reopened for either an extension or renegotiation of the terms of the note. Promissory Note   As of June 30, 2025      Accrued     Face value  Interest  Net payable Promissory Note $100,000  $15,745  $115,745 Total $100,000  $15,745  $115,745    As of December 31, 2024      Accrued      Face value  Interest  Net payable Promissory Note $100,000  $14,019  $114,019 Total $100