UNITED STATES 

SECURITIES ANDEXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-QSB

QUARTERLY REPORTPURSUANT TO SECTION 13 OR 15(d) 

OF THE SECURITIES ACTOF 1934

 

For the quarterlyperiod ended June 30, 2007

Commission File Number333-135037

 

CORONADO CORP.

(Exact Name of SmallBusiness Issuer as Specified in Its Charter)

 

Nevada                                            98-0485668
(State of                                        (IRS Employer

Incorporation)                                     (ID Number)        

 

Tibas del Correo, 50metros Norte y 25 metros al Este,

San Jose, Republica deCosta Rica

(Address of principalexecutive offices)

 

(702) 987-1847

(Issuer's TelephoneNumber, 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 June 30, 2007.

Transitional Small Business Disclosure Format: Yes No _X_

 

 
**PART I. FINANCIAL INFORMATION

 

Item 1.Interim Financial Statements
The accompanying condensed unauditedfinancial statements of Coronado Corp., a Nevada corporation are condensed and,therefore, do not include all disclosures normally required by accountingprinciples generally accepted in the United States of America. These statementsshould be read in conjunction with the Company's most recent annual financialstatements for the year ended March 31, 2007 included in a Form 10-KSB filedwith the U.S. Securities and Exchange Commission ("SEC") on June 29, 2007. Inthe opinion of management, all adjustments necessary for a fair presentationhave been included in the accompanying condensed financial statements andconsist of only normal recurring adjustments. The results of operationspresented in the accompanying condensed financial statements for the quarterended June 30, 2007 are not necessarily indicative of the operating results thatmay be expected for the full year ending March 31, 2008. 
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Coronado Corp.

(A Development StageCompany)

Interim ConsolidatedBalance Sheet

 

 

The accompanying notes are an integral part of these financialstatements.

Coronado Corp.

(A Development StageCompany)

Interim ConsolidatedStatements of Operations

Unaudited

 

The accompanying notes are an integral part of these financialstatements.

 

Coronado Corp.

(A Development StageCompany)

Interim ConsolidatedStatements of Stockholders' Equity (Deficiency)

The accompanying notes are an integral part of these financialstatements.

 

Coronado Corp.

(A Development StageCompany)

Interim ConsolidatedStatements 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
June 30, 2007 *Unaudited **1. Organization**
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 June 30, 2007, the Company had a loss from  operations of $9,351, an accumulated deficit of $39,701, and working capital  of $57,933 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**
a) **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.

b) **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
June 30, 2007 *Unaudited **2. Significant Accounting Policies - *Continued*
c) **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.  

d) **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.

e) **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.

f) **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.

g) **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 $nil for  the period ended June 30, 2007.

 
**Coronado Corp.***(A Development    Stage Company)
**Interim Notes to Consolidated    Financial Statements

June 30, 2007
 *Unaudited
 
 
**2. Significant Accounting Policies - *Continued*
h) **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.

i) **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.

j) **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 in the period ended June 30, 2007.

 

 
**Coronado Corp.***(A Development    Stage Company)
**Interim Notes to Consolidated    Financial Statements

June 30, 2007
 *Unaudited
 **2. Significant Accounting Policies - *Continued*
 

k) **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.

l) **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 June 30, 2007, the Company did not have any stock-based  compensation.

m) **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  June 30, 2007, the Company had no items of other comprehensive income.  Therefore, net loss equals comprehensive loss for the period ended June 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

June 30, 2007
 *Unaudited
 **3. Capital Stock**
a) **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.

b) **Share Issuances**
Since the inception (January 9, 2006), to June 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 $39,701, 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 off set by a valuation allowance. 

Details of future income tax assets are as follows:

Future income tax assets:**2007
Net operating loss (from inception to June 30,          2007)
**$**39,701**
Statutory tax rate (combined federal and state)**34%**
Non-capital tax loss**13,498**
Valuation allowance**(13,498)****$**-**
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**** ** **2007** **         Leasehold improvements - Work in Progress 
$ 16,243          Accumulated depreciation and amortization 
-Net        Property, plant and equipment
$ 16,243
 

 
**Coronado Corp.***(A Development    Stage Company)**Interim Notes to Consolidated    Financial Statements
June 30, 2007 *Unaudited 
 
**5. Property, Plant, and Equipment *- Continued*
Because the leasehold improvements were still in progress and not  completed, no amortization has been taken. Amortization will commence upon  completion of the improvements and when they are placed in Service.

On March 29, 2007, we signed a contract to do $15,680 in leasehold  improvements on our space to be used for our dental clinic.  We were  required to pay $6,272 at signing; therefore, we classified the entire $15,680  as a leasehold improvement and have an offsetting short-term note payable for  the remaining amount due.  The contract calls for the remaining amount to  be paid in increments, based on work completion, and does not bear interest  charges.  As the payments are required to be paid in full upon completion  of the work, which was completed in July, 2007, this note was classified as a  short-term liability. 
 **6.**Goodwill**
We recorded goodwill 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 June  30, 2007 was $2,100.**** **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.

 
**Coronado Corp.***(A Development    Stage Company)
**Interim Notes to Consolidated    Financial Statements

June 30, 2007
 *Unaudited
 **8.**New Accounting Pronouncements***- Continued*
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.

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 June 30, 2007, was $63,163. In order to satisfy ourcash requirements, we completed our offering pursuant to our SB-2 RegistrationStatement, which became effective on July 31, 2006. At the close of the offeringon November 15, 2006, 2,100,000 shares were issued to 38 shareholders at $0.04per share for proceeds of $84,000. 

For the period from inception (January 9,2006) to June 30, 2007, we had norevenues and incurred net operating losses of $39,701 consisting of generaloperating expenses incurred in connection with the day to day operation of ourbusiness and the preparation and filing of our periodic reports.

Net cash provided by financing activities since inception (January 9,2006)through June 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 nine-month period ended June 30, 2007.
  
Balance Sheet Data:  
June 30, 2007              
Cash  $
63,163    
Total assets  $
82,760    
Total liabilities  $
8,007    
Stockholders' equity  $
74,753 
Our auditors have issued a going concern opinion on our March 31, 2007audited financial statements, refer to note 1.Our auditors have expressed the opinion that in our current state, thereis substantial doubt about our ability to 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 build a dental clinic in Costa Rica and market our services to thepublic via newspaper advertising, word of mouth, and brochures placed in hotellobbies in order to generate revenue.

Our auditors have issued a going concern opinion. This means that there issubstantial doubt that we can continue as an on-going business for the nexttwelve months unless we obtain additional capital to pay for our expenses. Thatis because 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 15th, 2007, we sold 2,100,000common shares at $0.04 per sharethus we have atotal of 5,175,000 shares issued and outstanding to 39 shareholders (includingthe 2 directors of the company). As of June 30th, 2007, we had cashon hand of $63,163. This may not enable us to fund operations for the nexttwelve months, if we are unable to generate enough revenues to cover ourexpenses, and we may have to rely on additional loans from our directors, asecond public offering, or a private placement of securities.

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.

Our target is to have our license to operate by December of 2007. It is ourintention therefore that we will start generating revenues in January of 2008.

As we have raised the required minimum of $65,000 or the sale of 40% of ouroffering, we have commenced with operations by hiring a construction firm,Camacho Construccion S.A., which has completed the lease-hold improvements andrenovations to the office space we have leased in San Jose by constructing athree chair dental clinic in July of 2007.

As of June 30th, 2007, Coronado Corp had $63,163 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 November15th, 2006, and we have begun to implement our plan by building a three chairdental clinic.

In August of 2007 we will apply for an operating permit from the Departmentof Health in Costa Rica. This is a process that can take as long as five months,and we anticipate receiving a license to operate by December of 2007. At thattime we will hire a Dental Assistant and we will start promoting our services tothe public by way of newspaper advertising, word of mouth, placement ofbrochures 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 generating 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 becausewe do not have enough money, we will cease operations until we raise more money.If we cannot or do not raise more money, 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,Camacho Construccion S.A., who has beenhired by Bosque Tranquilo SA, a wholly owned subsidiary of Coronado Corp.Camacho Construccion S.A. was responsible for the construction, contractingtradesmen and sub-contractors, as well as the hiring and supervision of thelabor used for the renovation work.
**Off-Balance Sheet Arrangements**
The Company has no off-balance sheet arrangements.
**Critical Accounting Policies**
a) **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.

b) **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.

c) **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.  

d) **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.

e) **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.

f) **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.

g) **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  $nil for the period ended June 30, 2007.

h) **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.

i) **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.

j) **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 in the period ended June 30, 2007.

k) **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.

l) **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 June 30, 2007, the Company did not have any stock-based  compensation.

m) **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  June 30, 2007, the Company had no items of other comprehensive income.  Therefore, net loss equals comprehensive loss for the period ended June 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:

(v) Persuasive evidence for an agreement exists;

(vi) Delivery has occurred;

(vii) The fee is fixed or determinable; and 

(viii) 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

 

August 7, 2007                                                       Coronado Corp., Registrant

By: /s/ Alejandro                Quesada

                ______________________________

Alejandro Quesada,                Director, President. 

Principal Executive                Officer. 

                August 7, 2007                                                                         By: /s/ Shawn Phillips

                _______________________________

Shawn Phillips,                Director, Secretary, Treasurer. 

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