UNITEDSTATES

SECURITIESAND EXCHANGE COMMISSION

Washington,D.C. 20549

 

FORM 10-QSB

 

QuarterlyReport under Section 13 or 15(d) of

TheSecurities Act of 1934

 

For thequarterly period ended September 30, 2006

 

CommissionFile Number 333-135037

 

CORONADOCORP.

(Name ofsmall business issuer in its charter)

 

Nevada                                                98-0485668
(State of                                                (IRS Employer

Incorporation)                                                ID Number)

 

Tibas delCorreo, 50 metros Norte y 25 metros al Este,

San Jose,Republica de Costa Rica

1-702-987-1847

(Address andtelephone number of principal executive offices)

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

Yes X No 
Indicate by check mark whether the registrant is a shell company (as definedin Rule 12b-2 of the Exchange Act).

Yes No __X_ 
There were 3,075,000 shares of Common Stock issued and outstanding as ofSeptember 30, 2006.

Transitional Small Business Disclosure Format. Yes ____ No __X__ **                                                                                                                                   Coronado Corp.                                                                        Statement 1
*(A Development StageCompany)***Interim Balance Sheets**
The accompanying notes are an integral part of these financialstatements.

 
**                                                                                                                                     Coronado Corp.                                                                        Statement 2
*(A Development StageCompany)***Interim Statements ofOperations***Unaudited*
The accompanying notes are an integral part of these financialstatements.
**                                                                                                                                    Coronado Corp.                                                                                             Statement 3
*(A Development StageCompany)***Interim Statements ofStockholders' Equity (Deficiency)**
The accompanying notes are an integral part of these financialstatements.
**                                                                                                                                     Coronado Corp.                                                                            Statement 4
*(A Development StageCompany)***Interim Statements ofCash Flows***Unaudited*
The accompanying notes are an integral part of these financialstatements.
**Coronado Corp.***(A Development    Stage Company)
**Notes to Interim Financial    Statements

September 30, 2006
 *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 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. At present, management is devoting most of its activities to raising  money from an SB-2 Registration Statement, declared effective on July 31,  2006. 
**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, 2006, the  Company has a loss from operations of $9,415, an accumulated deficit of  $13,369, and working capital equity of $36,085 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, 2007.

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 has planned the  following actions:
The Company has filed an SB-2 Registration Statement with  the United States Securities and Exchange Commission to offer up to 4,062,500  common shares at $0.04 per share for gross proceeds of up to $162,500. The  Company intends to sell a minimum of 1,625,000 shares for gross proceeds of  $65,000, and if it does not, the Company will return the money to the  shareholders. 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 Presentation**
The accounting and reporting policies of the Company  conform to U.S. generally accepted accounting principles applicable to  development stage enterprises.

b) **Fiscal Periods**
The Company's fiscal year end is March 31.

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

September 30, 2006
 *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.

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

September 30, 2006
 *Unaudited
 
 **2. Significant Accounting Policies - *Continued*
g) **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.

h) **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.

i) **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) All other assets and liabilities 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 September 30, 2006.

 

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

September 30, 2006
 *Unaudited 
 

 
 
**2. Significant Accounting Policies -*Continued*
 

j) **Derivative Financial Instruments**
The Company was not a party to any derivative financial    instruments during the reported fiscal period.

k) **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"*.

l) **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, 2006, the Company had no items of other    comprehensive income. Therefore, net loss equals comprehensive loss for the    period ended September 30, 2006. 
**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)**Notes to Interim Financial    Statements
September 30, 2006 *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 of the Company (January 9, 2006) to September 30,    2006, the Company has issued 3,075,000 common shares, in exchange for    incorporation costs of $454 and cash of $30,000, being $3,075 for par value    shares and $27,379 for additional paid in capital. 1,500,000 shares were    sold to an officer and director, and 1,575,000 shares were sold to the    spouse of an officer and director of the Company. 
 **4. Income Taxes 

The company has incurred operating losses of $13,369, which, if unutilized,  will 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:
2006
Net operating loss (from inception to September 30, 2006)
$13,369
Statutory tax rate (combined federal and state)34%
Non-capital tax loss4,545
Valuation allowance(4,545)
$
-****
 

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

September 30, 2006
 *Unaudited
 
 

 

 
 
**5.**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:**
FAS 155, Accounting for Certain Hybrid Financial    Instruments. 

FAS 156, Accounting for Servicing of Financial Assets.    

FAS 157, Fair Value Measurements.

FAS 158, Employer's Accounting for Defined Benefit    Pension and Other Postretirement Plans.

 **6.**Subsequent Event
Subsequent to the period end, until October 31, 2006, the  Company has received subscriptions for 1,400,000 shares from independent  investors at $0.04 per share for total amounts of $56,000. Of these, $19,000  was received and held in trust prior to September 30, 2006. Since these funds  are to be returned to the subscribers if the minimum of 1,625,000 shares are  not sold (for proceeds of $65,000), the $19,000 is therefore classified as a  liability (share subscriptions received in advance) in the Company's records.

 

 
**ITEM 2.**MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OFOPERATION****Results of Operations**
Our cash in the bank at September 30, 2006 was $35,937 ($19,000 of which isheld in trust). In order to satisfy our cash requirements we are required tocomplete our offering of up to 4,062,500 shares registered pursuant to our SB-2Registration Statement which became effective on July 31, 2006. As of October31, 2006, the Company has received subscriptions for 1,400,000 shares fromindependent investors at $0.04 per share for total amounts of $56,000. Of these,$19,000 was received and held in trust prior to September 30, 2006. Since thesefunds are to be returned to the subscribers if the minimum of 1,625,000 sharesare not sold (for proceeds of $65,000), the $19,000 is therefore classified as aliability (share subscriptions received n advance) in the Company's records.

We are required to raise a minimum of $65,000 (1,625,000 shares at $0.04)prior to January 26, 2007, or the funds raised from the offering must bepromptly returned to the investors without interest or deduction.

For the period from inception (January 9, 2006) to September 30, 2006, we hadno revenues and incurred net operating losses of $13,369, consisting of generaland administrative expenses primarily incurred in connection with thepreparation and filing of our SB-2 Registration Statement.

Net cash provided by financing activities since inception (January 9, 2006)through September 30, 2006 was $30,454, raised from the private sale of stock toour officers and directors.

Our auditors have expressed the opinion that in our current state, there issubstantial doubt about our ability to continue as a going concern. Refer toNote 1 in our financial statements.
**Plan of Operation**
Following is an outline of our plan of operation that we will implement afterreceiving funding:

We will start operations by leasing space for our clinic provided we haveraised the required minimum of $65,000 or the sale of 40%of our offering before we will consider the financing sufficient to leaseoffice space for our clinic and purchase the required equipment.

However, we are seeking to raise $162,500 or 100% of the offering, becausewith this amount we could purchase special equipment that would enable us tobetter diagnose patients than most other dental clinics in Costa Rica, as wellas equipment that would enable us to provide our patients with "painless" rootcanal and filling treatments, a service that only one other dental clinic inCosta Rica (and one hospital) currently provides. 

Below is a chart that demonstrates how we intend to use the proceeds in theevent we do not raise the entire $162,500that weseek from the offering. As can be discerned from the chart, the services thatour clinic will provide depends upon the amount of equipment we are able topurchase, which is dependent on the amount of capital that we are able to raise.

If we raise only $65,000 or 40% of the offering, we estimate that this wouldprovide enough capital to purchase the very basic equipment required in order toopen a dental clinic in Costa Rica. 

If we raise only $97,500 or 60% of the offering, we estimate that we wouldhave enough funds to open a clinic that would enable us to provide generaldental services to the public with the addition of having equipment that wouldgive us a greater diagnostic ability than most other clinics in Costa Rica,enabling us to diagnose early-stage patient problems that may not be detectablewith a standard x-ray machine, therefore enabling us to generate more revenues.

If we raise only $130,000 or 80% of the offering, we estimate that we wouldhave enough funds to open a dental clinic with advanced diagnostic ability, aswell as to hire an additional hygienist who's full time job is to devote his orher time specifically to teeth cleaning, whitening, and oral-care education, andtherefore generate more revenues than we would be able to do if we only raise$97,500 or 60% of this offering.

The following chart demonstrates how we intend to allocate capital if weraise 40%, 60%, 80% or 100% of the funds we seek from this offering:
 ***Expenditure Item***40%******60%******80%******100%***Office Space/Lease4,0004,0006,0006,000Furniture 3,0004,0006,0006,000Medical Supplies3,0003,5005,0006,000Insurance1,5001,5001,5001,500Salaries1,5001,5003,0003,000Professional Fees10,00010,00010,00010,000Promotion and Advertising1,0001,5006,5007,000Office & Miscellaneous Exp 1,0001,5002,0003,000Equipment40,00070,00090,000120,000     **Total****$65,000****$97,500****$130,000****$162,500**
 

 

 

 

 

 

 

 

 

 

 

 

 

During the first year of operations Coronado Corp. will concentrate onfinding the required investment capital, apply to get its common stock listed ona national exchange, locate an office space to rent or lease, furnish our dentalclinic with the necessary equipment, and market our services to the public. 

It is our intention to raise the entire $162,500 as permitted under our SB-2Registration Statement. We have prepared the above chart based on the assumptionthat the ideal amount required in order to develop the business over the courseof the next 12 months is $130,000 or 80% of this offering. The chart alsodemonstrates the how we intend to use the proceeds should we raise only $97,500(60%) or $65,000 (40%) of this offering. We will require at least $65,000 or 40%of the offering before we feel confident in allocating money towards the leaseof an office space and the purchase of equipment. 

It is estimated that it will take three months from the close of the offeringin order to find and lease an office space, purchase the equipment for ourdental clinic, and open it to the public. Coronado Corp. estimates that it willbe able to generate revenues from patient sales within the last three months ofthe first year.

Upon raising the minimum amount of $65,000,wewill begin to negotiate the lease of an office with which we will place ourclinic. After having leased a suitable office space, we will purchase theequipment and hire a Dental Assistant.

Once we have leased office space and hired a Dental Assistant, we willpromote our services to the public by way of newspaper advertising, word ofmouth, placement of brochures in hotel lobbies, and a large billboard sign thatwill be erected in front of the clinic. We feel that our advertising efforts,combined with the location of the clinic, will be an important part to thesuccess of our business development, acting as an effective way to introduceCoronado Corp and it's product to the public. Our advertising will promote highquality dental work at a reasonable price. Special emphasis will be placed oncosmetic "Movie Star Teeth" procedures such as teeth cleaning, whitening,porcelain crowns, and veneers. Coronado Corp. will not begin to look for anoffice space to lease, purchase any equipment, or hire a Dental Assistant forthe clinic until after the close of this offering. 

If we are unable to raise the minimum $65,000that we seek from the offering the total amount of funds raised from theoffering will be returned to the investors and we will endeavor to proceed withour plan of operations by self-financing through contributions from the officersand directors. 

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.During the first year of operations, our officers and directors will alsoprovide their labor at no charge. 

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 sales revenue. 
**Off-Balance Sheet Arrangements**
Coronado Corp has no off-balance sheet arrangements.
**Critical Accounting Policies**
a) **Basis of Presentation**
The accounting and reporting policies of the Company    conform to U.S. generally accepted accounting principles applicable to    development stage enterprises.

b) **Fiscal Periods**
The Company's fiscal year end is March 31.

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) **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.

h) **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.

i) **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) All other assets and liabilities 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 September 30, 2006.

j) **Derivative Financial Instruments**
The Company was not a party to any derivative financial    instruments during the reported fiscal period.

k) **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"*.

l) **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, 2006, the Company had no items of other    comprehensive income. Therefore, net loss equals comprehensive loss for the    period ended September 30, 2006. 
**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:

(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 5. OTHER INFORMATION**
Subsequent Event

In October 2006, Coronado Corp. acquired a Costa Rican company named BosqueTranquilo S.A. Coronado Corp. owns 100% of the shares of the company and iscurrently in the process of having the company's name changed to CoronadoHolding Corp. S.A. The holding company was acquired for banking purposes as wellas holding the assets for the dental clinic. All the receipts and payments foroperations in Costa Rica will flow through this corporation.
**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*

31.1 Sec. 302 Certification of Principal Executive Officer

31.2 Sec. 302 Certification of Principal Financial Officer

32.1 Sec. 906 Certification of Principal Executive Officer 

32.2 Sec. 906 Certification of Principal Financial Officer 

 

 

 
**SIGNATURES**
In accordance with the requirements of the Exchange Act, the registrantcaused this report to be signed on its behalf by the undersigned, thereunto dulyauthorized.

 

November 14, 2006 Coronado Corp., Registrant

By: /s/ Alejandro Quesada

 

***/s/ Alejandro Quesada                       ***

Alejandro Quesada, Director,President. 

Principal Executive Officer. 

 

November 14, 2006 

 

By: /s/ Shawn Phillips

_______________________________

Shawn Phillips, Director, Secretary,Treasurer. 

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