10-K - Crona Corp. (0001696411) (Filer)

Thu, Jun 27, 10:15 AM (18 days ago)

Crona Corp. (now American Caskets Company) reported a net loss of $193,626 for the fiscal year ended December 31, 2023, compared to a net income of $45,148 in 2022, primarily due to increased professional fees. Operating expenses rose significantly to $172,368 from $32,970, including professional fees ($110,514), depreciation ($31,437), and amortization on a convertible promissory note ($15,137). Total assets decreased to $68,818 from $102,510, while total liabilities increased to $260,942 from $101,820. The company has not generated revenue and anticipates requiring additional capital for operations. The company transitioned from antimicrobial services to the memorialization industry, focusing on funeral products. The financial condition raises substantial doubt about the company's ability to continue as a going concern.