Company: CCCP
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003752
Chunk: 20

Company: Crona Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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 Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

RESULTS OF OPERATION

Results of Operations for the three months ended March 31, 2025, and 2024:

Revenue for three months ended March 31, 2025, and 2024

For the three months ended March 31, 2025, and 2024, we did not generate any revenue.

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Operating expenses for the three months ended March 31, 2025, and 2024

Total operating expenses for the three months ended March 31, 2025, were $34,849 which included depreciation and amortization expenses of $7,299, professional fees of $22,500 and share-based compensation $5,050.

Total operating expenses for the three months ended March 31, 2024, were $12,134 which included amortization on convertible promissory note $1,863, depreciation and amortization expense of $7,372, general and administrative expenses of $1,899, and professional fees of $1,000.

Net Loss

The net profit loss for the three months ended March 31, 2025, and 2023 was $(4,530) and $(17,838) respectively.

Liquidity and Capital Resources

As of March 31, 2025 we had no cash, total liabilities were $300,776 and a working capital deficit of $200,776.

Management believes the Company will continue to incur losses and negative cash flows from operating activities for the foreseeable future and will need additional equity or debt financing to sustain its operations until it can achieve profitability and positive cash flows, if ever. The Company’s continuation as a going concern is dependent upon its ability to ultimately attain profitable operations, generate sufficient cash flow to meet its obligations, and obtain additional financing as may be required. The outcome of this uncertainty cannot be assured. Our independent registered public accounting firm, in their reports on our financial statements for the year ended December 31, 2024, expressed substantial doubt about our ability to continue as a going concern. These circumstances could complicate our ability to raise additional capital. Our financial statements do not include any adjustments to