Fri, Nov 15, 6:06 PM (63 days ago)
Crona Corp. (OTC: CCCP) reported no revenue for the quarter ending September 30, 2024, maintaining a trend of zero revenue generation. The company recorded a net loss of $16,151, reflecting a decrease in losses from $17,479 in the same quarter of 2023, attributed to reduced operating expenses, particularly in professional fees and amortization. Total operating expenses for Q3 2024 were $10,414, down from $15,182 in Q3 2023. As of September 30, 2024, total assets were $46,448, while total liabilities reached $299,668, resulting in a working capital deficit of $199,668. The accumulated deficit increased to $291,523, raising concerns about the company's ability to sustain operations without additional capital. Crona's focus has shifted to the memorialization industry, aiming to generate revenue through casket sales, with plans to leverage relationships with Chinese manufacturers for cost-effective imports. However, the company continues to face uncertainties regarding its financial viability and operational stability moving forward.