Fri, Jun 7, 7:05 PM (92 days ago)
Crown Equity Holdings Inc. reported a significant net loss of $3,661,094 for Q1 2024 compared to a loss of $24,425 in Q1 2023. Revenue increased to $301 from zero, driven by click-based ads and the publishing of a press release. Operating expenses surged to $1,287,376 from $23,300, primarily due to increased general expenses. Other expenses, including losses on related party account payable conversions, totaled $2,374,019, up from $1,125. The company’s working capital deficit was $296,247, with current assets of $7,906 and liabilities of $304,153. Cash flow from operations was negative, but financing from related parties provided $23,000. The company faces substantial doubt about its ability to continue as a going concern.