Crona Corp 10-K for FY2025
Crona Corp. (CCCP)
About this 10-K
Crona Corp filed this 10-K on September 23, 2026, covering the fiscal year ended December 31, 2025 (FY2025).
Headline figures
Fiscal year ended December 31, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.
- Revenue
- $0
- compared with $0 a year earlier
- Net loss
- $109.56K
- compared with a net loss of $77.4K a year earlier
- Diluted EPS
- $0.00
- compared with $0.00 a year earlier
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
For the year ended
For the transition period from ___________ to ___________
Commission File No.
(Exact name of registrant as specified in its charter) |
| 7261 |
| EIN | |
(State or Other Jurisdiction of Incorporation or Organization) |
| (Primary Standard Industrial Classification Number) |
| (IRS Employer Identification Number) |
Tel: (
(Address and telephone number of principal executive offices)
Securities registered under Section 12(b) of the Exchange Act:
Title of each class |
| Trading Symbol |
| Name of each exchange on which registered |
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| OTC Pink |
Securities registered under Section 12(g) of the Exchange Act:
None
Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for shorter period that the registrant as required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large, accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):
Large, accelerated filer | ☐ | Smaller reporting company | |
Accelerated filer | ☐ | Emerging growth company | |
☒ |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act) Yes
State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date:
TABLE OF CONTENTS
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| Table of Contents |
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements
The accompanying financial statements of Crona Corp. (“the Company”, “we”, “us” or “our”), have been prepared with audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations.
The financial statements should be read in conjunction with the Company’s latest annual financial statements.
In the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company.
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| Table of Contents |
Report of the Independent Registered Public Accounting Firm
To the shareholders and the board of directors of
Crona Corp.
Opinion on the Financial Statements
We have audited the accompanying balance sheets of Crona Corp as of December 31, 2025 and 2024, and the related statements of operations, changes in stockholders' deficit, and cash flows for each of the two years in the period ended December 31, 2025 and 2024, and the related notes (collectively referred to as the "financial statements").
In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.
Going Concern
The accompanying financial statements have been prepared assuming the Company will continue as a going concern as disclosed in Note 2 to the financial statement, the Company has an accumulated deficit of $(417,380) and a negative working capital of $(67,941) The Company is dependent on obtaining additional working capital funding from the existing shareholders or external fund providers to meet the Company’s obligations as they become due. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Basis for Opinion
These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.
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Critical Audit Matters
Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. Communication of critical audit matters does not alter in any way our opinion on the financial statements taken as a whole and we are not, by communicating the critical audit matters, providing separate opinions on the critical audit matter or on the accounts or disclosures to which they relate.
Related Party Debt Forgiveness
As discussed in Note 9 to the financial statement The company Director Lam Hung Cheung provided a non-interest-bearing loan and advances towards the settlement of the amount payables to the vendors. On April 25, 2025 the company Director agreed to completely relieve the Company from repayment of the debt of $35,966. Also, during the year the former Director forgave the principal and accrued interest on promissory notes due to Zeroblast Services Limited of $115,744.
Based on the substance of the transactions and the relationship of the creditors to the Company, the Company accounted for the $151,710 debt forgiveness as an in-substance capital contribution and recorded the amount in additional paid-in capital.
We identified the evaluation of accounting and disclosure for the debt forgiveness as a critical audit matter because the matters required especially challenging and subjective auditors’ judgement.
The procedures performed includes:
| · | We obtained and inspected the board resolution approving the debt forgiveness and evaluated whether it supported management conclusion. |
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| · | We evaluated management assessment of whether the creditor was a related party and the related party criteria applicable to management and parties able to significantly influence the company. |
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| · | We evaluated management accounting for the debt forgiveness including whether the transaction was appropriately recognized as a gain or as an in-substance capital transaction |
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| · | We evaluated the adequacy of the company disclosure in the financial statements. |
/S/ Boladale Lawal
We have served as the Company's auditor since 2024
August 27, 2026
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| Table of Contents |
CRONA CORP.
BALANCE SHEETS
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| December 31, 2025 |
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| December 31, 2024 |
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ASSETS |
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Current Assets |
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Prepaid expenses |
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Total Current Assets |
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Long-term Assets |
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Intangible assets, net |
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Property, plant and equipment, net |
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Total Long-term Assets |
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Total Assets |
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LIABILITIES AND STOCKHOLDERS’ DEFICIT |
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Liabilities |
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Current Liabilities |
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Accounts payable |
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Interest payable |
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Related party advances |
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Convertible notes payable, net of discount |
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Total Current Liabilities |
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Promissory note, related party |
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Total Long-Term Liabilities |
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Total Liabilities |
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Commitments and contingencies (Note 6) |
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Stockholders’ Deficit |
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Preferred stock, par value $ |
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Common stock, par value $ |
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Additional paid in capital |
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Accumulated other comprehensive loss |
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Accumulated deficit |
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Total Stockholders’ Deficit |
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Total Liabilities and Stockholders’ Deficit |
| $ |
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| $ |
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See accompanying notes to audited financial statements.
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| Table of Contents |
CRONA CORP.
STATEMENTS OF OPERATIONS
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| (Audited) |
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| For the year ended |
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| December 31, 2025 |
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| December 31, 2024 |
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REVENUES |
| $ |
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OPERATING EXPENSES |
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Amortization on convertible promissory note |
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Depreciation and amortization expense |
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General and administrative expenses |
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Professional fees |
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Share based compensation |
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TOTAL OPERATING EXPENSES |
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OTHER INCOME (EXPENSE) |
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Interest expenses |
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TOTAL OTHER EXPENSES |
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LOSS FROM OPERATIONS |
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PROVISION FOR INCOME TAXES |
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NET LOSS |
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OTHER COMPREHENSIVE LOSS |
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Foreign Currency Translation Adjustment |
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COMPREHENSIVE LOSS |
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NET LOSS PER SHARE: BASIC AND DILUTED |
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WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED |
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See accompanying notes to audited financial statements
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| Table of Contents |
STATEMENTS OF STOCKHOLDERS’ (DEFICIT) EQUITY
For The Year Ended December 31, 2025 and 2024
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| Additional |
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| Other |
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| Preferred Series A |
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| Common Stock |
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| Comprehensive |
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| Amount |
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| Amount |
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| Capital |
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| Deficit |
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| Loss |
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For the year ended December 31, 2024 |
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Balance, December 31, 2023 |
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Net loss |
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Balance, December 31, 2024 |
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For the year ended December 31, 2025 | |||||||||||||||||||||||||||||||||||||
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Balance, December 31, 2024 |
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Share issued from Restriction Issuance |
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Debt forgiveness contributed to capital |
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Net loss |
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Balance, December 31, 2025 |
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See accompanying notes to audited financial statements.
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| Table of Contents |
STATEMENTS OF CASH FLOWS
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CASH FLOWS FROM OPERATING ACTIVITIES |
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Net loss |
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Adjustments to reconcile net income (loss) to net cash used in operating activities: |
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Amortization expenses |
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Depreciation expenses |
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Amortization of discount on promissory note |
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Interest Expenses |
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Changes in operating assets and liabilities: |
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Increase (decrease) in Prepaid expenses |
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Interest payable on convertible promissory note |
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Increase (decrease) in accounts payable |
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NET CASH USED IN OPERATING ACTIVITIES |
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CASH FLOWS FROM FINANCING ACTIVITIES |
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Advances from related parties |
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NET CASH FROM FINANCING ACTIVITIES |
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NET INCREASE (DECREASE) IN CASH |
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Effects of currency translation on cash |
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Cash, beginning of period |
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Cash, end of period |
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SUPPLEMENTAL CASH FLOW INFORMATION: |
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Interest paid |
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Income taxes paid |
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See accompanying notes to audited financial statements.
| 9 |
| Table of Contents |
Crona Corp.
NOTES TO THE FINANCIAL STATEMENTS
December 31, 2025
Note 1 – ORGANIZATION AND NATURE OF BUSINESS
Crona Corp. (“the Company”) was incorporated in the State of Nevada on October 6, 2016. On February 3, 2023, the Company filed Articles of Continuance with the Secretary of State in the State of Wyoming pursuant to which the Company re-domiciled from the State of Nevada to the State of Wyoming. Effective December 29, 2022, the Company’s new address is 422 Richards Street, Unit 170 Vancouver, BC V6B 2Z4.
The core business of the Company is the provision of funeral and memorial services, including cremation, burial arrangements, and the sale of related memorial products such as caskets and urns. The Company’s services also include the transportation of the deceased, memorial planning, and assistance with legal documentation and ceremonial arrangements.
Note 2 – GOING CONCERN
The accompanying financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”), which contemplate the continuation of the Company as a going concern. The Company generated no revenue through December 31, 2025. The Company currently has an accumulated deficit of $
Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is December 31.
Use of Estimates
The preparation of financial statements in conformity with GAAP 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.
Cash and Cash Equivalents
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents.
Income Taxes
Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Revenue Recognition
The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. An entity must also disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative information about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract.
Basic Income (Loss) Per Share
The Company computes income (loss) per share in accordance with ASC 260 “Earnings per share”. Basic income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive income (loss) per share excludes all potential common shares if their effect is anti-dilutive. As of December 31, 2025, there were no potentially dilutive debt or equity instruments issued or outstanding.
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| Table of Contents |
Property and Equipment
Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterment that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period. Depreciation is computed for financial statement purposes on a straight-line basis over the following estimated useful lives of the related assets.
| Useful life | |
| Minimum | Maximum |
Equipment | ||
Intangible assets
Intangible assets consist of contracts acquired in an asset purchase agreement (see Note 4). The estimated useful life of these assets was determined to be
Impairment of Long-Lived Assets
The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. To determine recoverability of a long-lived asset, management evaluates whether the estimated future undiscounted net cash flows from the asset are less than it carrying amount. If impairment is indicated, the long-lived asset would be written down to fair value. Fair value is determined by an evaluation of available price information at which assets could be bought or sold, including quoted market prices, if available, or the present value of the estimated future cash flows based on reasonable and supportable assumptions.
Leases
The Company accounts for leases in accordance with Accounting Standards Update (“ASU”) No. 2016-02, “Leases”. Under this guidance, lessees (including lessees under leases classified as finance leases, which are to be classified based on criteria like that applicable to capital leases under current guidance, and leases classified as operating leases) will recognize a right-to-use asset and a lease liability on the balance sheet, initially measured as the present value of lease payments under the lease. The guidance permits companies to make an accounting policy election not to apply the recognition provisions of the guidance to short term leases (leases with a lease term of 12 months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise). If this election is made, lease payments under short term leases will be recognized on a straight-line basis over the lease term. The Company has elected not to apply the standard to short-term leases.
Recent Accounting Pronouncements
There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended December 31, 2025, that are of significance or potential significance to the Company.
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Note 4 – PROPERTY PLANT & EQUIPMENT
The Company’s Property plant and equipment as of December 31, 2025, and December 31, 2024, are as follows
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Property, plant and equipment, gross |
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Less: Depreciation |
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Property, plant and equipment, net |
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Total depreciation expenses for the year ended December 31, 2025, and 2024, were $
Note 5 – INTANGIBLE ASSETS
The Company’s intangible assets as of December 31, 2025, and December 31, 2024, are as follows:
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Intangible assets, gross |
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Less: Amortization |
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Intangible assets, net |
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Total amortization expenses for the year ended December 31, 2025, and 2024, were $
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Note 6 – CONVERTIBLE PROMISSORY NOTE
On February 09, 2023, the Company issued a convertible promissory note (the “February 2023 Note”) at a face value of $
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| Discount on Promissory Note |
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Convertible Promissory Note |
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Total |
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| As of December 31, 2024 |
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| Discount on Promissory Note |
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| Accrued Interest |
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Convertible Promissory Note |
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Total |
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On October 27, 2023,
On April 29, 2025,
Accrued Interest as of December 31, 2025, is $
Total interest expenses of $
Note 7 – RELATED PARTY TRANSACTIONS
During the year ended December 31, 2025, the Company’s director, Cheung Lam Hung, advanced a total of $
The amount is non-interest bearing, unsecured, and repayable on demand.
As of December 31, 2025, the balance due to the director was $
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Note 8 – STOCKHOLDERS’ EQUITY
Common Shares
The Company has
On March 7, 2025, Cheung Lam Hung, through his controlled entity Next Talent (HK) Limited, acquired
On July 29, 2025, the Company issued
During 2025, the Company recognized $
As of December 31, 2025 and 2024, the company’s common shares issued and outstanding are
Preferred Shares
The Company has
As of December 31, 2025, and 2024, the company’s preferred shares issued and outstanding are
Note 9 – RELATED PARTY TRANSACTIONS AND DEBT FORGIVENESS
During the year ended December 31, 2025, Cheung Lam Hung, the Company’s director and controlling shareholder, provided non-interest-bearing advances to the Company for operating expenses. On April 25, 2025, Mr. Cheung agreed to forgive $
Note 10 – COMMITMENTS AND CONTINGENCIES
From time to time, the Company is subject to various litigation and other claims in the normal course of business. The Company establishes liabilities in connection with legal actions that management deems to be probable and estimable. No amounts have been accrued in the financial statements with respect to any matters.
Note 11 – SUBSEQUENT EVENTS
In accordance with ASC 855-10, the Company has analyzed its operations subsequent to December 31, 2025, through the date when financial statements were issued and did not identify any subsequent events requiring disclosure.
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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Forward-looking statement notice
Statements made in this Form 10-K that are not historical, or current facts are “forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbor for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statement represents management’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.
Financial information contained in this annual report and in our financial statements is stated in United States dollars and is prepared in accordance with United States generally accepted accounting principles.
DESCRIPTION OF BUSINESS
Brief description of Crona Corp.
The Company was incorporated on October 6, 2016, under the laws of the State of Nevada.
On February 3, 2023, the Company filed Articles of Continuance with the Secretary of State for the state of Wyoming. Accordingly, the Company transferred its state of formation from Nevada to Wyoming and became a Wyoming entity. In conjunction with this change of domicile, the Company increased the number of common shares that it is authorized to issue to 1,000,000,000 shares, par value $0.00001 per share.
On February 7, 2023, the Company filed a Certificate of Dissolution with the Secretary of State for the State of Nevada, effectively dissolving the Company’s existence in Nevada. The effective date for the Nevada dissolution is March 17, 2023.
On January 7, 2025, the Board of Directors of Crona Corp. (the “Company”) appointed Cheung Lam Hung to fill a vacancy on the Board of Directors with a term expiring at the Company's next Annual Meeting of Stockholders. Also on the same date the Board of Directors appointed Cheung Lam Hung as its President, Chief Executive Officer, Treasurer, Chief Financial Officer and Secretary.
General description of our activity
On June 22, 2023, the Company appointed Demetrios Malamas as its President, Chief Executive Officer, Treasurer, Chief Financial Officer and Secretary. As a result of the management change, the Company is moving out of the antimicrobial surface protection services business and into the memorialization industry, serving our customers in cemetery and funeral industries.
We have not generated revenue to date and intend to generate revenue from our products sales to customers. Our mission is to ensure families are supported during the most difficult time of their lives. We aim to help families move forward from grief to remembrance. We are proud to provide products and solutions to meet the needs of every family.
We provide a variety of funeral products including funeral caskets. Funeral caskets come in a wide array of models and are made of several different materials. Metal funeral caskets come in Copper, Stainless Steel, 18 Gauge metal and 20-gauge metal. They come with a variety of popular interiors including velvet, crepe and satin among other fabrics. As for the wooden caskets, they also come in a variety of woods including, but not limited to; Pine, Mahogany, Oak, Cherry, Pecan, Maple, Poplar and Cedar. All of these caskets come with a variety of finishes, a variety of handles (swing bars or stationery, a variety of decorative corners, repositioning beds).
Our customers for caskets are funeral homes, funeral suppliers, and casket distributors in the US market. By importing from China, the Company is following a well-worn outsourcing playbook that’s upended markets for American-made goods from electronics to bedroom furniture. Our relationship with several factories in China allows us to have priority manufacturing. In addition, our relationship with shippers allows us to have priority shipping at some of the best rates available. We will import 40-foot containers holding 64 caskets apiece and sells them to funeral homes and regional distributors for a fraction of the price. We will be attending industry Trade Shows at the National as well as the State level to increase company visibility and market presence and work to increase market share as well as to stay in contact with our Funeral Home families and customers. In addition, our marketing will include advertising in Funeral industry magazines and journals.
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RESEARCH AND DEVELOPMENT EXPENDITURES
We have not incurred any research expenditure since our incorporation.
BANKRUPTCY OR SIMILAR PROCEEDINGS
There has been no bankruptcy, receivership or similar proceeding.
COMPLIANCE WITH GOVERNMENT REGULATION
We will be required to comply with all regulations, rules and directives of governmental authorities and agencies applicable to the services provided in any facility in any jurisdiction which we would conduct activities.
FACILITIES
Our current office is located at 422 Richards Street, Unit 170, Vancouver, BC V6B 2Z4. Our telephone number is (888) 998-9449.
EMPLOYEES AND EMPLOYMENT AGREEMENTS
We have no employees as of the date of this prospectus. Our sole officer and director, Cheung Lam Hung currently devotes approximately 20 hours per week to company matters. After receiving funding, Cheung Lam Hung plans to devote as much time to the operation of the Company as he determines is necessary for him to manage the affairs of the Company. As our business and operations increase, we will assess the need for full time management and administrative support personnel.
LEGAL PROCEEDINGS
There are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
This section includes a few forward-looking statements that reflect our current views regarding the future events and financial performance of Crona Corp.
We qualify as an “emerging growth company” under the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:
Have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;
Comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (i.e., an auditor discussion and analysis) unless the SEC determines that the application of such additional requirements is necessary or appropriate in the public interest, after considering protection of investors, and whether the action will promote efficiency, competition and capital formation; Submit certain executive compensation on matters to shareholder advisory votes, such as “say-on-pay” and “say-on-frequency;”
Disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation.
In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.
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RESULTS OF OPERATION
Results of Operations for the year ended December 31, 2025, and 2024:
Revenue for the year ended December 31, 2025, and 2024
For the year ended December 31, 2025, and 2024, we did not generate any revenue.
Operating expenses for the year ended December 31, 2025, and 2024
Total operating expenses for the year ended December 31, 2025, were $92,279 which included depreciation and amortization expense of $29,197, general and administrative expenses of $27,707, and professional fees of $35,375.
Total operating expenses for the year ended December 31, 2024, were $43,962 which included amortization on convertible promissory note $1,863, depreciation and amortization expense of $29,487, general and administrative expenses of $7,562, and professional fees of $15,612.
Net Loss
The net loss for the year ended December 31, 2025 and 2024 was $109,558 and $77,395, respectively.
The increase in net loss for 2025 reflects the Company’s operating and interest expenses. During 2025, $151,710 of related-party debt forgiveness was accounted for as an in-substance capital contribution and recorded in additional paid-in capital rather than as income.
Liquidity and Capital Resources
As of December 31, 2025 we had no cash, total liabilities were $227,246 and a working capital deficit of $227,246.
Management believes the Company will continue to incur losses and negative cash flows from operating activities for the foreseeable future and will need additional equity or debt financing to sustain its operations until it can achieve profitability and positive cash flows, if ever. The Company’s continuation as a going concern is dependent upon its ability to ultimately attain profitable operations, generate sufficient cash flow to meet its obligations, and obtain additional financing as may be required. The outcome of this uncertainty cannot be assured. Our independent registered public accounting firm, in their reports on our financial statements for the year ended December 31, 2025, expressed substantial doubt about our ability to continue as a going concern. These circumstances could complicate our ability to raise additional capital. Our financial statements do not include any adjustments to the carrying amounts of our assets and liabilities that might result from the outcome of this uncertainty.
The accompanying consolidating financial statements do not include any adjustments that might result from the outcome of this uncertainty. There can be no assurance that management will be successful in implementing its business plan or that the successful implementation of such business plan will actually improve the Company's operating results.
CASH FLOWS FROM OPERATING ACTIVITIES
We have not generated positive cash flows from operating activities. For the year ended December 31, 2025, net cash used in operating activities was $67,941. The reconciliation began with a net loss of $109,558 and included non-cash depreciation and amortization of $29,197, interest expense adjustments, and changes in operating liabilities. The $151,710 related-party debt forgiveness was recorded directly in additional paid-in capital and did not affect cash flows.
CASH FLOWS FROM INVESTING ACTIVITIES
For the year ended December 31, 2025, we generated $0 in investing activities.
CASH FLOWS FROM FINANCING ACTIVITIES
For the year ended December 31, 2025, net cash flow provided by financing activities was $67,941 which included the advances from related party of $67,941.
OFF-BALANCE SHEET ARRANGEMENTS
We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
None
ITEM 4. CONTROLS AND PROCEDURES
Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
An evaluation was conducted under supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2025. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.
Changes in Internal Controls over Financial Reporting
There was no change in the Company’s internal control over financial reporting during the year covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
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PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
We are not involved in any pending legal proceedings nor are we aware of any pending or threatened litigation against us.
ITEM 1A. RISK FACTORS
None.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS
None
ITEM 5. OTHER INFORMATION
None
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ITEM 6. EXHIBITS
The following exhibits are included as part of this report by reference:
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101.INS |
| Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) |
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101.SCH |
| Inline XBRL Taxonomy Extension Schema Document |
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101.CAL |
| Inline XBRL Taxonomy Extension Calculation Linkbase Document |
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101.DEF |
| Inline XBRL Taxonomy Extension Definition Linkbase Document |
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101.LAB |
| Inline XBRL Taxonomy Extension Labels Linkbase Document |
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101.PRE |
| Inline XBRL Taxonomy Extension Presentation Linkbase Document |
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104 |
| Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
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SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CRONA CORP. | ||
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Dated: September 23, 2026 | By: | /s/ Cheung Lam Hung | |
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| Cheung Lam Hung, |
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| President and |
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| Chief Executive Officer and Chief Financial Officer |
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EXHIBIT 31.1
CERTIFICATIONS
I, Cheung Lam Hung, certify that;
| (1) | I have reviewed this Annual Report on Form 10-K of Crona Corp; |
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| (2) | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
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| (3) | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
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| (4) | I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) and internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f) and 15d-15(f) for the registrant and have: |
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| (a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared; |
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| (b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
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| (c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
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| (d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal year that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
| (5) | I have disclosed, based on my most recent evaluation of the internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
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| (a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
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| (b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Date: September 23, 2026
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| /s/ Cheung Lam Hung |
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| By: | Cheung Lam Hung |
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| Title: | Chief Executive Officer and Chief Financial Officer |
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EXHIBIT 32.1
CERTIFICATION OF
CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
I, Cheung Lam Hung, the Chief Executive Officer and Chief Financial Officer of Crona Corp. (the “Company”), hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:
| (i) | the Annual Report on Form 10-K of the Company, for the year ended December 31, 2025, and to which this certification is attached as Exhibit 32.1 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
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| (ii) | the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
| By: | /s/ Cheung Lam Hung | ||
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| Name: | Cheung Lam Hung |
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| Title: | Chief Executive Officer and |
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| Chief Financial Officer |
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| Date: | September 23, 2026 |
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