UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-QSB

QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2007Commission file number 333-135037

CORONADO CORP.(Exact name of small business issuer as specified in its charter)

Nevada                                98-0485668(State of                              (IRS Employer           Incorporation)                       (ID Number)                  

 

Tibas del Correo, 50 metros Norte y 25 metros al Este,San Jose, República de Costa Rica(Address of principal executive offices)

(702) 987-1847(Issuer's Telephone Number, Including Area Code)

Check whether the issuer (1) filed all reports required to be filed bySection 13 or 15 (d) of the Securities Exchange Act during the past 12 months(or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90days.

Yes X                No ____ 

Indicate by check mark whether the registrant is a shell company (as definedin Rule 12b-2 of the Exchange Act).

Yes X                No ____ 

State the number of shares outstanding of each of the issuer's classes ofcommon equity, as of the latest practicable date: There were 5,175,000 shares ofCommon Stock issued and outstanding as of October 31, 2007.

Transitional Small Business Disclosure Format: Yes _____   No _X_

 

 

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PART I. FINANCIAL INFORMATION

 

Item 1. Interim Financial Statements

The accompanying condensed unaudited financial statements of Coronado Corp.,a Nevada corporation are condensed and, therefore, do not include alldisclosures normally required by accounting principles generally accepted in theUnited States of America. These statements should be read in conjunction withthe Company's most recent annual financial statements for the year ended March31, 2007 included in a Form 10-KSB filed with the U.S. Securities and ExchangeCommission ("SEC") on June 29, 2007. In the opinion of management, alladjustments necessary for a fair presentation have been included in theaccompanying condensed financial statements and consist of only normal recurringadjustments. The results of operations presented in the accompanying condensedfinancial statements for the quarter ended September 30, 2007 are notnecessarily indicative of the operating results that may be expected for thefull year ending March 31, 2008. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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CORONADO CORP.

(A Development StageCompany)

 

INTERIM CONSOLIDATED

FINANCIAL STATEMENTS

 

SEPTEMBER 30, 2007

 

Unaudited

 

 

 

 

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**Coronado Corp.***(A Development Stage Company)***Interim Consolidated Balance Sheet**

 

The accompanying notes are an integral part of these financialstatements.

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**Coronado Corp.***(A Development Stage Company)***Interim Consolidated Statements of Operations*Unaudited***** **
The accompanying notes are an integral part of these financialstatements.

**Coronado Corp.***(A Development Stage Company)***Interim Consolidated Statements ofStockholders' Equity (Deficit)**For the Period of Inception (January 9, 2006) to September30, 2007**The accompanying notes are an integral part of these financialstatements.

Coronado Corp.*(A Development Stage Company)***Interim Consolidated Statements of Cash Flows***Unaudited***The accompanying notes are an integral part of these financialstatements.
**Coronado Corp.***(A Development Stage Company)* **Interim Notes to Consolidated Financial Statements** **September 30, 2007** *Unaudited* 
1. Organization and Going Concern**
Coronado Corp. (the "Company") is a Nevada corporation incorporated on  January 9, 2006. It is based in San Jose, Costa Rica. The company purchased a  wholly-owned subsidiary, "Bosque Tranquilo S.A." in San Jose, Costa Rica on  October 12, 2006.

The Company is a development stage company that intends  to open and operate a dental clinic in Costa Rica. To date, the Company's  activities have been limited to its formation and the raising of equity  capital. The Company's fiscal year end is March 31.
**Going Concern and Liquidity Considerations**
The accompanying financial statements have been prepared  assuming that the Company will continue as a going concern, which  contemplates, among other things, the realization of assets and satisfaction  of liabilities in the normal course of business. As at September 30, 2007, the  Company had a loss from operations of $22,401, an accumulated deficit of  $52,751, and working capital of $34,209 and has earned no revenues since  inception. The Company intends to fund operations through equity financing  arrangements, which may be insufficient to fund its capital expenditures,  working capital and other cash requirements for the year ending March 31,  2008.

The ability of the Company to emerge from the development  stage is dependent upon, among other things, obtaining additional financing to  continue operations, and development of its business plan.

In response to these problems, management intends to raise  additional funds through public or private placement offerings.

These factors, among others, raise substantial doubt about  the Company's ability to continue as a going concern. The accompanying  financial statements do not include any adjustments that might result from the  outcome of this uncertainty.
 **2. Significant Accounting Policies****Basis of Consolidation

These consolidated financial statements presented are those  of the Company and its wholly-owned subsidiary, Bosque Tranquilo S.A. All  intercompany balances and transactions have been eliminated.
**Basis of Presentation******
The accounting and reporting policies of the Company conform to U.S.  generally accepted accounting principles (US GAAP) applicable to development  stage companies. 

 
****Coronado Corp.***(A Development Stage Company)* ******Interim Notes to Consolidated Financial Statements** ******September 30, 2007** *****Unaudited* ****2. Significant Accounting Policies - *Continued***Use of Estimates

The preparation of financial statements in conformity with  U.S. generally accepted accounting principles requires management to make  estimates and assumptions that affect the reported amounts of assets and  liabilities and disclosure of contingent assets and liabilities at the date of  the financial statements and the reported amount of revenues and expenses  during the reporting period. Actual results could differ from those estimates.  
**Cash and Cash Equivalents**
Cash and cash equivalents include cash in banks, money  market funds, and certificates of term deposits with maturities of less than  three months from inception, which are readily convertible to known amounts of  cash and which, in the opinion of management, are subject to an insignificant  risk of loss in value.
**Fair Value of Financial Instruments and Derivative  Financial Instruments**
The Company has adopted Statement of Financial Accounting  Standards ("SFAS") Number 119, "Disclosure About Derivative Financial  Instruments and Fair Value of Financial Instruments." The carrying amount of  accrued liabilities approximates its fair value because of the short maturity  of this item. Certain fair value estimates may be subject to and involve,  uncertainties and matters of significant judgment, and, therefore, cannot be  determined with precision. Changes in assumptions could significantly affect  these estimates. The Company does not hold or issue financial instruments for  trading purposes, nor does it utilize derivative instruments in the management  of its foreign exchange, commodity price or interest rate market risks.
**Segmented Reporting**
SFAS Number 131, "Disclosure About Segments of an  Enterprise and Related Information", changed the way public companies report  information about segments of their business in their quarterly reports issued  to shareholders. It also requires entity-wide disclosures about the products  and services an entity provides, the material countries in which it holds  assets and reports revenues and its major customers. The Company presently  operates only in Costa Rica.
**Property, Plant, and Equipment**
Property, Plant, and equipment are stated at cost. The Company has adopted  the policy of depreciation being computed by use of the straight-line method  over the estimated useful lives of the assets, which is up to 5 years for  equipment and the shorter of lease terms or 10 years for leasehold  improvements. The depreciation expense on property and equipment was $6,261  for the period ended September 30, 2007.
****Coronado Corp.***(A Development Stage Company)* **Interim Notes to Consolidated Financial Statements** **September 30, 2007** *Unaudited* ****2. Significant Accounting Policies - *Continued***Federal Income Taxes

Deferred income taxes are reported for timing differences  between items of income or expense reported in the financial statements and  those reported for income tax purposes in accordance with SFAS Number 109,  "Accounting for Income Taxes", which requires the use of the asset/liability  method of accounting for income taxes. Deferred income taxes and tax benefits  are recognized for the future tax consequences attributable to differences  between the financial statement carrying amounts of existing assets and  liabilities and their respective tax bases, and for tax loss and credit  carryforwards. Deferred tax assets and liabilities are measured using enacted  tax rates expected to apply to taxable income in the years in which those  temporary differences are expected to be recovered or settled. The Company  provides for deferred taxes for the estimated future tax effects attributable  to temporary differences and carryforwards when realization is more likely  than not.
**Earnings (Loss) per Share**
The Company has adopted Financial Accounting Standards  Board ("FASB") Statement Number 128, "Earnings per Share," ("EPS") which  requires presentation of basic and diluted EPS on the face of the income  statement for all entities with complex capital structures and requires a  reconciliation of the numerator and denominator of the basic EPS computation  to the numerator and denominator of the diluted EPS computation. In the  accompanying financial statements, basic earnings (loss) per share is computed  by dividing net income/loss by the weighted average number of shares of common  stock outstanding during the period.
**Foreign Currency Transactions**
The Company's functional currency is the Costa Rican Colone.  The Company's reporting currency is the U.S. Dollar. All transactions  initiated in Colones are translated to U.S. Dollars in accordance with SFAS  No. 52 "Foreign Currency Translation" as follows:

(i) Monetary assets and liabilities at the rate of      exchange in effect at the balance sheet date;

(ii) Equity at historical rates; and

(iii) Revenue and expense items at the average rate of      exchange prevailing during the period.

Adjustments arising from such translations are deferred  until realization and are included as a separate component of stockholders'  equity as a component of comprehensive income or loss. Therefore, translation  adjustments are not included in determining net income (loss) but reported as  other comprehensive income.

For foreign currency transactions, the Company translates  these amounts to the Company's functional currency at the exchange rate  effective on the invoice date. If the exchange rate changes between the time  of purchase and the time actual payment is made, a foreign exchange  transaction gain or loss results which is included in determining net income  for the period.

No significant realized exchange gains or losses were  recorded from inception (January 9, 2006) to the period ended September 30,  2007.

 
****Coronado Corp.***(A Development Stage Company)* ******Interim Notes to Consolidated Financial Statements** ******September 30, 2007** *****Unaudited* **** 

2. Significant Accounting Policies - *Continued***Goodwill

The Company adopted the provisions of Statement of  Financial Accounting Standards ("SFAS") No. 142, *"Goodwill and Other  Intangible Assets",*which requires that goodwill and intangible assets  with indefinite lives should not be amortized but rather be tested for  impairment at least annually or sooner whenever events or changes in  circumstances indicate that they may be impaired.
**Stock-Based Compensation**
The Company adopted the provisions of Statement of  Financial Accounting Standards ("SFAS") No. 123(R), *"Share-Based Payment"*,  which establishes accounting for equity instruments exchanged for employee  services. Under the provisions of SFAS 123(R), stock-based compensation cost  is measured at the grant date, based on the calculated fair value of the  award, and is recognized as an expense over the employees' requisite service  period (generally the vesting period of the equity grant). The Company  accounts for share-based payments to non-employees, in accordance with SFAS  123 (as originally issued) and Emerging Issues Task Force Issue No. 96-18, *"Accounting for Equity Instruments That Are Issued to Other Than Employees for  Acquiring, or in Conjunction with Selling, Goods or Services"*. For the  period ended September 30, 2007, the Company did not have any stock-based  compensation.
**Comprehensive Income (Loss)**
SFAS No. 130, "Reporting Comprehensive Income", establishes  standards for reporting and display of comprehensive income and its components  in a full set of general-purpose financial statements. For the period ended  September 30, 2007, the Company had no items of other comprehensive income.  Therefore, net loss equals comprehensive loss for the period ended September  30, 2007. 
**Revenue Recognition******
The Company recognizes revenue from the sale of products  and services in accordance with Securities and Exchange Commission Staff  Accounting Bulletin No. 104 ("SAB 104"), "Revenue Recognition in Financial  Statements." Revenue will consist of dental services income and will be  recognized only when all of the following criteria have been met:

(i) Persuasive evidence for an agreement exists;

(ii) Delivery has occurred;

(iii) The fee is fixed or determinable; and 

(iv) Revenue is reasonably assured.
****
 ****Coronado Corp.***(A Development Stage Company)* **Interim Notes to Consolidated Financial Statements** **September 30, 2007** *Unaudited* 
3. Capital Stock****Authorized Stock

The Company has authorized 100,000,000 common shares with  $0.001 par value. Each common share entitles the holder to one vote, in person  or proxy, on any matter on which action of the stockholder of the corporation  is sought.
**Share Issuances**
Since the inception (January 9, 2006), to September 30, 2007, the Company  has issued a total of 5,175,000 common shares. The Company issued 75,000,  3,000,000, and 2,100,000 common shares at approximately $0.006, $0.01, and  $0.04 per share respectively.
 **4. Income Taxes 

The company has incurred operating losses of $52,751, which, if unutilized,  will begin to expire in 2026. Future tax benefits, which may arise as a result  of these losses, have not been recognized in these financial statements, and  have been offset by a valuation allowance. 

Details of future income tax assets are as follows:

Future income tax assets:**2007**
Net operating loss (from inception to September 30,      2007)**$**52,751**
Statutory tax rate (combined federal and state)**34%**
Non-capital tax loss**17,935**
Valuation allowance**(17,935)****$**-**
The potential future tax benefits of these losses have not  been recognized in these financial statements due to uncertainty of their  realization. When the future utilization of some portion of the carryforwards  is determined not to be "more likely than not," a valuation allowance is  provided to reduce the recorded tax benefits from such assets.

 **5. Property, Plant, and Equipment, Net******
9/30/2007
3/31/2007
Machinery and equipment
$ 16,935 $ -
Leasehold improvements
16,243 
 15,860

33,178 
15,860
Accumulated depreciation and amortization
(6,261)
 -

Net property, plant, and equipment$ 26,917  $ 15,860** **Coronado Corp.***(A Development Stage Company)* **Interim Notes to Consolidated Financial Statements** **September 30, 2007** *Unaudited* 
6.**Goodwill**
We recorded goodwill, of $577, resulting from the  acquisition of Bosque Tranquilo S.A. on October 12, 2006. We paid $600 for  100% ownership of Bosque Tranquilo S.A., a private company incorporated May  13, 2006 in Costa Rica with no operating history, which had a book value of  $23.

 **7. Lease commitment

The Company leases an office space to be used for the dental clinic, in San  Jose, Costa Rica.  The lease expires on January 31, 2008 with an option  to renew at a 15% increase and extend until January 31, 2009, if the Company  gives a 30 day written notice of extension.  The monthly rental payments  are $700 and can be cancelled at any time, by the Company, with 30 days  written notice.  The total lease expense paid for the period ended  September 30, 2007 was $4,200.**** **8.**New Accounting Pronouncements
Recent accounting pronouncements that are listed below did  and/or are not currently expected to have a material effect on the Company's  financial statements.
**FASB Statements:**
In February 2006, FASB issued Financial Accounting Standards No. 155,  "Accounting for Certain Hybrid Financial Instruments - an amendment of FASB  Statements No. 133 and 140. This Statement amends FASB Statements No. 133, *Accounting for Derivative Instruments and Hedging Activities,* and No. 140,  *Accounting for Transfers and Servicing of Financial Assets and  Extinguishments of Liabilities.* This Statement resolves issues addressed  in Statement 133 Implementation Issue No. D1, *"Application of Statement 133  to Beneficial Interests in Securitized Financial Assets."* SFAS 155 is  effective for all financial instruments acquired or issued after the beginning  of an entity's first fiscal year that begins after September 15, 2006.

In March 2006, FASB issued Financial Accounting Standards  No. 156, "Accounting for Servicing of Financial Assets - an amendment of FASB  Statement No. 140." This Statement amends FASB Statement No. 140, Accounting  for Transfers and Servicing of Financial Assets and Extinguishments of  Liabilities, with respect to the accounting for separately recognized  servicing assets and servicing liabilities. SFAS 156 is effective in the first  fiscal year that begins after September 15, 2006.

In September 2006, FASB issued Financial Accounting  Standards No. 157, "Fair Value Measurements." This Statement defines fair  value, establishes a framework for measuring fair value in generally accepted  accounting principles (GAAP), and expands disclosures about fair value  measurements. This Statement applies under other accounting pronouncements  that require or permit fair value measurements, the Board having previously  concluded in those accounting pronouncements that fair value is the relevant  measurement attribute. Accordingly, this Statement does not require any new  fair value measurements. However, for some entities, the application of this  Statement will change current practice. SFAS 157 is effective in the first  fiscal year that begins after November 15, 2007.

 
****Coronado Corp.***(A Development Stage Company)* ******Interim Notes to Consolidated Financial Statements** ******September 30, 2007** *****Unaudited* ****8.**New Accounting Pronouncements***- Continued*
In September 2006, FASB issued Financial Accounting  Standards No. 158*, "Employers' Accounting for Defined Benefit Pension and  Other Postretirement Plans - an amendment of FASB Statements No. 87, 88, 106,  and 132(R)."* This Statement improves financial reporting by requiring an  employer to recognize the overfunded or underfunded status of a defined  benefit postretirement plan (other than a multiemployer plan) as an asset or  liability in its statement of financial position and to recognize changes in  that funded status in the year in which the changes occur through  comprehensive income of a business entity or changes in unrestricted net  assets of a not-for-profit organization. This Statement also improves  financial reporting by requiring an employer to measure the funded status of a  plan as of the date of its year-end statement of financial position, with  limited exceptions. SFAS 158 is effective. An employer with publicly traded  equity securities is required to initially recognize the funded status of a  defined benefit postretirement plan and to provide the required disclosures as  of the end of the first fiscal year ending after December 15, 2006.

In February 2007, FASB issued Financial Accounting  Standards No. 159, "*The Fair Value Option for  Financial Assets and Financial Liabilities--Including an amendment of FASB  Statement No. 115."*This Statement  permits entities to choose to measure many financial instruments and certain  other items at fair value. The objective is to improve financial reporting by  providing entities with the opportunity to mitigate volatility in reported  earnings caused by measuring related assets and liabilities differently  without having to apply complex hedge accounting provisions. This Statement is  expected to expand the use of fair value measurement, which is consistent with  the Board's long-term measurement objectives for accounting for financial  instruments. SFAS 159 is effective as of the beginning of an entity's first  fiscal year that begins after November 15, 2007.** **
 
 
**Item 2. Plan of Operation**
This report includes a number of forward-looking statements that reflect ourcurrent views with respect to future events and financial performance. Forwardlooking statements are often identified by words such as: believe, expect,estimate, anticipate, intend, project and similar expressions, or words which,by their nature, refer to future events. You should not place any unduecertainty on these forward looking statements, which apply only as of the dateof this quarterly. These forward looking statements are subject to certain risksand uncertainties that could cause actual results to differ materially from ourpredictions.
**Results of Operations**
Our cash in the bank at September 30, 2007, was $32,732. In order to satisfyour cash requirements, we completed our offering pursuant to our SB-2Registration Statement, which became effective on July 31, 2006. At the close ofthe offering on November 15, 2006, 2,100,000 shares were issued to 38shareholders at $0.04 per share for proceeds of $84,000. 

For the period from inception (January 9,2006) to September 30, 2007, we hadno revenues and incurred net operating losses of $52,751 consisting of generaloperating expenses and professional fees incurred in connection with the day today operation of our business and the preparation and filing of our periodicreports.

Net cash provided by financing activities since inception (January 9,2006)through September 30, 2007 was $114,454, consisting of $30,454 raised from theprivate sale of stock to our officers and directors, and $84,000 raised pursuantto our SB-2 Registration Statement.

The following table provides selected financial data about our company as ofand for the six-month period ended September 30, 2007.
  
Balance Sheet Data:  
September

30, 2007              
Cash  $
32,732    
Total assets  $
63,102    
Total liabilities  $
1,399    
Stockholders' equity  $
61,703 
Our auditors have issued a going concern opinion on our March 31, 2007,audited financial statements (Refer to note 1). Our auditors have expressed theopinion that in our current state, there is substantial doubt about our abilityto continue as a going concern.
**Plan of Operation

We are a start-up, development stage corporation and have not yet generatedor realized any revenues from our business operations. Our plan over the next 12months is to open and operate a dental clinic in Costa Rica and market ourservices to the public via newspaper advertising, word of mouth, and brochuresplaced in hotel lobbies in order to generate revenue.

Our auditors have issued a going concern opinion indicating a substantialdoubt about our ability to continue as an on-going business over the next twelvemonths, unless we obtain additional capital to pay for our expenses. This isbecause we have not generated any revenues to date, and no revenues areanticipated until we begin receiving income from the sales of dental services topatients, and there is no assurance that we will ever reach this point. 

Accordingly, we may have to raise sufficient capital from sources other thanfrom the sale of dental services to patients. Our only other source for cash atthis time is investments by others. We raised $84,000 from our public offering.Under the offering that closed November 15, 2007, we sold 2,100,000 commonshares at $0.04 per share,thus we have a total of 5,175,000 shares issued and outstandingto 39 shareholders (which includes the 2 directors of the Company). As ofSeptember 30, 2007, we had cash on hand of $32,732, which may not enable us tofund operations for the next twelve months. If we are unable to generate enoughrevenues to cover our expenses, then we may have to rely on additional loansfrom our directors, a second public offering, or a private placement ofsecurities.
We have used the above-mentioned funds to complete lease-hold upgrades andrenovations to our dental clinic in San Jose, Costa Rica, as well as to purchasedental equipment for the clinic in July of 2007.

The dental equipment was installed in July of 2007 at which time we appliedfor our license to operate from the Ministry of Health, which can take as longas 5 months to obtain. Our target is to have our license to operate by Decemberof 2007. It is our intention that we will start generating revenues in Januaryof 2008. 

As we have raised the required minimum of $65,000 or the sale of 40% of ouroffering, we commenced with operations by hiring a construction firm, CamachoConstruccion S.A., to conduct renovations to the office space which we haveleased by constructing a three chair dental clinic. These renovations werecompleted in July of 2007.

As of September 30, 2007, Coronado Corp had $32,732 in cash. 

It was our intention to raise the entire $162,500 as permitted under ouroffering, however, we raised $84,000, prior to closing our offering November 15,2006, and we have begun to implement our plan by building a three chair dentalclinic with all the necessary equipment.

In August 2007, we applied for an operating permit from the Department ofHealth in Costa Rica. We anticipate receiving a license to operate by Decemberof 2007. At that time we will hire a Dental Assistant and begin to promote ourservices to the public by way of newspaper advertising, word of mouth, placementof brochures in hotel lobbies and a large billboard sign that will be erected infront of the clinic.

We feel that our advertising efforts will be an important part to the successof our business development, acting as an effective way to introduce CoronadoCorp and its services to the public. Our advertising will promote high qualitydental work at a reasonable price. Special emphasis will be placed on cosmetic"Movie Star Teeth" procedures such as teeth cleaning, whitening, porcelaincrowns, and veneers. We anticipate that we will begin to generate revenues byJanuary of 2008. 

The difference between having the ability to sustain our cash flowrequirements over the next twelve months and the need for additional outsidefunding will depend on how fast we can generate revenue. 

If we are unable to generate enough revenue to stay in business, or if we runout of cash before our dental clinic is licensed to operate, we will have tofind alternative sources for money, like a second public offering, a privateplacement of securities or loans from our officers or others. Equity financingcould result in additional dilution to existing shareholders.

If we are unable to meet our needs for cash, then we may be unable tocontinue, develop, or expand our operations.

While the officers and directors have generally indicated a willingness toprovide services and financial contributions if necessary, there are presentlyno agreements, arrangements, commitments, or specific understandings, eitherverbally or in writing, between the officers and directors and Coronado Corp.

If we are unable topay for our expenses because we do not have enough money, we willcease operations until we raise more money. If we cannot or do not raise moremoney, we will be forced to cease operations.
We do not intend to hire any employees at this time. All of the constructionwork on the leased office space was conducted by an unaffiliated independentcontractor,CamachoConstruccion S.A., who was hired by Bosque Tranquilo SA, a wholly owned CostaRican subsidiary of Coronado Corp. Camacho Construccion S.A. was responsible forthe construction, contracting tradesmen and sub-contractors, as well as thehiring and supervision of the labor used for the renovation work.**Off-Balance Sheet Arrangements**
The Company has no off-balance sheet arrangements.
**Critical Accounting Policies****Basis of Consolidation**
These consolidated financial statements presented are thoseof the Company and its wholly-owned subsidiary, Bosque Tranquilo S.A. Allintercompany balances and transactions have been eliminated.
**Basis of Presentation**
The accounting and reporting policies of the Company conform to U.S.generally accepted accounting principles (US GAAP) applicable to developmentstage companies. 
**Use of Estimates**
The preparation of financial statements in conformity withU.S. generally accepted accounting principles requires management to makeestimates and assumptions that affect the reported amounts of assets andliabilities and disclosure of contingent assets and liabilities at the date ofthe financial statements and the reported amount of revenues and expenses duringthe reporting period. Actual results could differ from those estimates. 
**Cash and Cash Equivalents**
Cash and cash equivalents include cash in banks, money marketfunds, and certificates of term deposits with maturities of less than threemonths from inception, which are readily convertible to known amounts of cashand which, in the opinion of management, are subject to an insignificant risk ofloss in value.
**Fair Value of Financial Instruments and Derivative FinancialInstruments**
The Company has adopted Statement of Financial AccountingStandards ("SFAS") Number 119, "Disclosure About Derivative FinancialInstruments and Fair Value of Financial Instruments." The carrying amount ofaccrued liabilities approximates its fair value because of the short maturity ofthis item. Certain fair value estimates may be subject to and involve,uncertainties and matters of significant judgment, and, therefore, cannot bedetermined with precision. Changes in assumptions could significantly affectthese estimates. The Company does not hold or issue financial instruments fortrading purposes, nor does it utilize derivative instruments in the managementof its foreign exchange, commodity price or interest rate market risks.
**Segmented Reporting**
SFAS Number 131, "Disclosure About Segments of an Enterpriseand Related Information", changed the way public companies report informationabout segments of their business in their quarterly reports issued toshareholders. It also requires entity-wide disclosures about the products andservices an entity provides, the material countries in which it holds assets andreports revenues and its major customers. The Company presently operates only inCosta Rica.
**Property, Plant, and Equipment**
Property, Plant, and equipment are stated at cost. The Company has adoptedthe policy of depreciation being computed by use of the straight-line methodover the estimated useful lives of the assets, which is up to 5 years forequipment and the shorter of lease terms or 10 years for leasehold improvements.The depreciation expense on property and equipment was $6,261 for the periodended September 30, 2007.
**Federal Income Taxes**
Deferred income taxes are reported for timing differencesbetween items of income or expense reported in the financial statements andthose reported for income tax purposes in accordance with SFAS Number 109,"Accounting for Income Taxes", which requires the use of the asset/liabilitymethod of accounting for income taxes. Deferred income taxes and tax benefitsare recognized for the future tax consequences attributable to differencesbetween the financial statement carrying amounts of existing assets andliabilities and their respective tax bases, and for tax loss and creditcarryforwards. Deferred tax assets and liabilities are measured using enactedtax rates expected to apply to taxable income in the years in which thosetemporary differences are expected to be recovered or settled. The Companyprovides for deferred taxes for the estimated future tax effects attributable totemporary differences and carryforwards when realization is more likely thannot.
**Earnings (Loss) per Share**
The Company has adopted Financial Accounting Standards Board("FASB") Statement Number 128, "Earnings per Share," ("EPS") which requirespresentation of basic and diluted EPS on the face of the income statement forall entities with complex capital structures and requires a reconciliation ofthe numerator and denominator of the basic EPS computation to the numerator anddenominator of the diluted EPS computation. In the accompanying financialstatements, basic earnings (loss) per share is computed by dividing netincome/loss by the weighted average number of shares of common stock outstandingduring the period.
**Foreign Currency Transactions**
The Company's functional currency is the Costa Rican Colone.The Company's reporting currency is the U.S. Dollar. All transactions initiatedin Colones are translated to U.S. Dollars in accordance with SFAS No. 52"Foreign Currency Translation" as follows:

(i) Monetary assets and liabilities at the rate of    exchange in effect at the balance sheet date;

(ii) Equity at historical rates; and

(iii) Revenue and expense items at the average rate of    exchange prevailing during the period.

Adjustments arising from such translations are deferred untilrealization and are included as a separate component of stockholders' equity asa component of comprehensive income or loss. Therefore, translation adjustmentsare not included in determining net income (loss) but reported as othercomprehensive income.

For foreign currency transactions, the Company translatesthese amounts to the Company's functional currency at the exchange rateeffective on the invoice date. If the exchange rate changes between the time ofpurchase and the time actual payment is made, a foreign exchange transactiongain or loss results which is included in determining net income for the period.

No significant realized exchange gains or losses wererecorded from inception (January 9, 2006) to the period ended September 30,2007.
**Goodwill**
The Company adopted the provisions of Statement of FinancialAccounting Standards ("SFAS") No. 142, *"Goodwill and Other IntangibleAssets",*which requires that goodwill and intangible assets with indefinitelives should not be amortized but rather be tested for impairment at leastannually or sooner whenever events or changes in circumstances indicate thatthey may be impaired.
**Stock-Based Compensation**
The Company adopted the provisions of Statement of FinancialAccounting Standards ("SFAS") No. 123(R), *"Share-Based Payment"*, whichestablishes accounting for equity instruments exchanged for employee services.Under the provisions of SFAS 123(R), stock-based compensation cost is measuredat the grant date, based on the calculated fair value of the award, and isrecognized as an expense over the employees' requisite service period (generallythe vesting period of the equity grant). The Company accounts for share-basedpayments to non-employees, in accordance with SFAS 123 (as originally issued)and Emerging Issues Task Force Issue No. 96-18, *"Accounting for EquityInstruments That Are Issued to Other Than Employees for Acquiring or inConjunction with Selling, Goods or Services"*. For the period ended September30, 2007, the Company did not have any stock-based compensation.
**Comprehensive Income (Loss)**
SFAS No. 130, "Reporting Comprehensive Income", establishesstandards for reporting and display of comprehensive income and its componentsin a full set of general-purpose financial statements. For the period endedSeptember 30, 2007, the Company had no items of other comprehensive income.Therefore, net loss equals comprehensive loss for the period ended September 30,2007. 
**Revenue Recognition**
The Company recognizes revenue from the sale of products andservices in accordance with Securities and Exchange Commission Staff AccountingBulletin No. 104 ("SAB 104"), "Revenue Recognition in Financial Statements."Revenue will consist of dental services income and will be recognized only whenall of the following criteria have been met:

(i)         Persuasive evidence for an agreement exists;

(ii)        Delivery has occurred;

(ii)        The fee is fixed or determinable; and 

(iii)        Revenue is reasonably assured.
** 

ITEM 3. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures**
Under the supervision and with the participation of our management, includingour principal executive officer and principal financial officer, we haveconducted an evaluation of the effectiveness of the design and operation of ourdisclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)under the Securities and Exchange Act of 1934, as of the end of the periodcovered by this report. Based on this evaluation, our principal executiveofficer and principal financial officer concluded as of the evaluation date thatour disclosure controls and procedures were effective such that the materialinformation required to be included in our Securities and Exchange Commissionreports is recorded, processed, summarized and reported within the time periodsspecified in SEC rules and forms relating to our company, particularly duringthe period when this report was being prepared.

Additionally, there were no significant changes in our internal controls orin other factors that could significantly affect these controls subsequent tothe evaluation date. We have not identified any significant deficiencies ormaterial weaknesses in our internal controls, and therefore there were nocorrective actions taken.
**PART II - OTHER INFORMATION

ITEM 6. EXHIBITS**
The following exhibits are included with this registration statement filing.Those marked with an asterisk and required to be filed hereunder, areincorporated by reference and can be found in their entirety in our originalForm SB-2 Registration Statement, filed under SEC File Number 333-135037, at theSEC website at www.sec.gov:

Exhibit

NumberDescription
3.1         Articles of    Incorporation*

3.2         Bylaws*

31             Rule 13a-14(a)/15d-14a(a) Certifications

32             Section 1350 Certifications 
** 

SIGNATURES**
In accordance with the Exchange Act, the registrant caused this report to besigned on its behalf by the undersigned, thereunto duly authorized

 

November 5, 2007                                Coronado Corp., Registrant

                                                             By: /s/ Alejandro Quesada

            ______________________________

Alejandro Quesada,            Director, President. 

Principal Executive            Officer. 

November 5, 2007                             By: /s/ Shawn Phillips

            _______________________________

Shawn Phillips, Director,            Secretary, Treasurer. 

Principal Financial            Officer************************************