Company: CCCP
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001477932-25-001313
Chunk: 79

Company: Crona Corp.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 2
Chunk 79
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. During the three months ended June 30, 2017, the company issued a total of 1,087,500 common shares for cash proceeds of $1080. During the three months ended December 31, 2023, the company issued a total of 500,000 common shares for settlement of debt of $500. As of December 31, 2024, and December 31, 2023, the company’s common shares issued and outstanding are 6,587,500 and 6,587,500 respectively. Preferred SharesThe company has 10,000,000, $0.00001 par value of preferred stock authorized. On June 07, 2023, the company issued 5,000,000 preferred stock class B at a par value of $0.0001, to the director, Lucille Zdunich as fully paid and non-assessable for service provided. As of December 31, 2024, and December 31, 2023, the company’s preferred shares issued and outstanding are 5,000,000 and 5,000,000 respectively.

Note 10 – COMMITMENTS AND CONTINGENCIES From time to time, the Company is subject to various litigation and other claims in the normal course of business. The Company establishes liabilities in connection with legal actions that management deems to be probable and estimable. No amounts have been accrued in the financial statements with respect to any matters.

 F-12Table of Contents

Note 11 –  INCOME TAXES The Company adheres to the provisions of uncertain tax positions as addressed in ASC 740 “Income Taxes” (“ASC 740”). As of December 31, 2024, the Company had net operating loss carry forwards of $307,822 that may be available to reduce future years’ taxable income in varying amounts through 2041. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. The valuation allowance at December 31, 2024 was $64,643. The net change in valuation allowance for the year ended December 31, 2024 was $16,253. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or