The Crypto Company (CRCW) 10-Q 11 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 08, 2017
Document And Entity Information
Entity Registrant Name	Croe, Inc.
Entity Central Index Key	1,688,126
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		11,335,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 268	$ 7,778
Inventory	0	0
Total Current Assets	268	7,778
TOTAL ASSETS	268	7,778
CURRENT LIABILITIES
Accounts payable and accrued liabilities	4,388	1,973
Advances from related party	631	0
Notes payable to related parties	24,249	17,249
Total Current Liabilities	29,268	19,222
TOTAL LIABILITIES	29,268	19,222
STOCKHOLDERS' DEFICIT
Preferred stock	0	0
Common stock	11,335	11,115
Additional paid-in capital	55,415	44,635
Accumulated deficit	(95,750)	(67,194)
Total Stockholders' Deficit	(29,000)	(11,444)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 268	$ 7,778

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common Stock, shares issued	11,115,000	10,000,000
Common Stock, shares outstanding	11,115,000	10,000,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
NET SALES	$ 0	$ 0
COST OF SALES	0	0
GROSS MARGIN	0	0
OPERATING EXPENSES
Professional and accounting fees	22,566	0
Other selling, general and administrative expenses	5,510	0
Total Operating Expenses	28,076	0
LOSS FROM OPERATIONS	(28,076)	0
OTHER INCOME (EXPENSES)
Interest expense	(480)	0
Total Other Income (Expenses)	(480)	0
NET INCOME (LOSS)	$ (28,556)	$ 0
Net income (loss) per common share - basic and diluted	$ 0	$ 0
Weighted average common shares outstanding - basic and diluted	11,327,667	10,000,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (28,556)	$ 0
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	2,415	0
Net Cash Provided (Used) by Operating Activities	(26,141)	0
CASH FLOWS FROM INVESTING ACTIVITIES:	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock	11,000	0
Proceeds from advances from related party (net)	631
Proceeds from note payable to related party	7,000	0
Net Cash Provided by Financing Activities	18,631	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(7,510)	0
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	7,778	0
CASH AND CASH EQUIVALENTS, END OF PERIOD	268	0
Cash Payments For:
Interest	0	0
Taxes	$ 0	$ 0

NOTE 1 - ORGANIZATION AND DESCR

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS CROE, Inc. (the Company) was incorporated in the State of Utah on December 2, 2013. The Company is a fitness apparel company with the mission of creating supportive, protective, and innovative sports bras and fitness apparel for the market. Our featured product in development is the "CroeNest", a pocket in our sports bras and exercise pants that is sweat resistant and radiation resistant for athletes and exercise enthusiasts. In addition, we have created other apparel with our unique branding and trademarks. Our motto is "Fearless Determination," and our corporate goal is to instill a healthy and strong lifestyle to our customers through our products.

NOTE 2 - BASIS OF FINANCIAL STA

NOTE 2 - BASIS OF FINANCIAL STATEMENT PRESENTATION	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 2 - BASIS OF FINANCIAL STATEMENT PRESENTATION	NOTE 2 - BASIS OF FINANCIAL STATEMENT PRESENTATION The accompanying unaudited financial statements have been prepared by the Company 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 U.S. generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s audited financial statements and notes thereto included in its Form 10-K for the year ended December 31, 2016. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results to be expected for the year ending December 31, 2017.

NOTE 3 - ADVANCES FROM RELATED

NOTE 3 - ADVANCES FROM RELATED PARTY	3 Months Ended
	Mar. 31, 2017
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
NOTE 3 - ADVANCES FROM RELATED PARTY	NOTE 3 - ADVANCES FROM RELATED PARTY The advances from related party liability at March 31, 2017 in the amount of $631 is due to John Thomas, the husband of the founder and Chief Executive Officer of the Company. The liability is non-interest bearing and due on demand.

NOTE 4 - NOTES PAYABLE TO RELAT

NOTE 4 - NOTES PAYABLE TO RELATED PARTIES	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
NOTE 4 - NOTES PAYABLE TO RELATED PARTIES	NOTE 4 - NOTES PAYABLE TO RELATED PARTIES Notes payable to related parties consist of the following: March 31, December 31, Note payable to Company consultant, interest at 8%, due on demand (assigned to consultant by John Thomas, husband of the founder and Chief Executive Officer of the Company in December 2016) $ 17,249 $ 17,249 Note payable dated March 1, 2017 to Elliott Polatoff, director of the Company, interest at 8%, due April 30, 2017 7,000 — Total $ 24,249 $ 17,249

NOTE 5 - EQUITY TRANSACTIONS

NOTE 5 - EQUITY TRANSACTIONS	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
NOTE 5 - EQUITY TRANSACTIONS	NOTE 5 - EQUITY TRANSACTIONS The Company has 50,000,000 shares of common stock authorized with a par value of $0.001. 10,000,000 shares of common stock were issued to the founder of the Company on incorporation. During the year ended December 31, 2016, the Company sold a total of 980,000 shares of its common stock to individual investors at a price of $0.05 per share or $49,000 total. On October 14, 2016 (effective October 2, 2016), the Company issued a total of 135,000 shares of its common stock to 7 service providers for services rendered. 50,000 of the shares were issued to Elliott Polatoff, a director of the Company, and 15,000 of the shares were issued to John D. Thomas P.C., a law firm owned by the husband of the founder and Chief Executive Officer of the Company. The stock was valued at a price of $0.05 per share or $6,750 total. During the quarter ended March 31, 2017, the Company sold a total of 220,000 shares of its common stock to individual investors at a price of $0.05 per share or $11,000 total.

NOTE 6 - FINANCIAL INSTRUMENTS

NOTE 6 - FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2017
Investments, All Other Investments [Abstract]
NOTE 6 - FINANCIAL INSTRUMENTS	NOTE 6 - FINANCIAL INSTRUMENTS Our financial instruments consist of cash and cash equivalents, accounts payable and accrued liabilities, advances from related party, and notes payable to related parties. The carrying amount of these assets and liabilities approximate fair value due to their short-term nature.

NOTE 7 - GOING CONCERN

NOTE 7 - GOING CONCERN	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 7 - GOING CONCERN	NOTE 7 - GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has sustained significant net losses which have resulted in an accumulated deficit at March 31, 2017 of approximately $94,000 and has experienced periodic cash flow difficulties, all of which raise substantial doubt regarding the Company’s ability to continue as a going concern. Continuation of the Company as a going concern is dependent upon obtaining additional working capital. The management of the Company has developed a strategy which it believes will accomplish this objective through short term loans from related parties, and additional equity investments which will enable the Company to continue operations for the coming year. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from the outcome of this uncertainty.

NOTE 8 - RELATED PARTY TRANSACT

NOTE 8 - RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
NOTE 8 - RELATED PARTY TRANSACTIONS	NOTE 8 - RELATED PARTY TRANSACTIONS In the three months ended March 31, 2017, the Company paid legal fees of $4,000 to John D. Thomas P.C., a law firm owned by the husband of the founder and Chief Executive Officer of the Company. In the three months ended March 31, 2017, the Company paid consulting fees of $4,000 to Elliott Polatoff, a director of the Company.

NOTE 9 - COMMITMENT

NOTE 9 - COMMITMENT	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
NOTE 9 - COMMITMENT	NOTE 9 - COMMITMENT On October 1, 2016, the Company executed a Sublease Agreement with Acadia Properties LLC for the rental of office space. The agreement, which has a term from October 1, 2016 to December 31, 2017, provides for monthly rent of $500 commencing January 1, 2017.

NOTE 4 - NOTES PAYABLE TO REL15

NOTE 4 - NOTES PAYABLE TO RELATED PARTIES (Tables)	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Notes payable to related parties	Notes payable to related parties consist of the following: March 31, December 31, Note payable to Company consultant, interest at 8%, due on demand (assigned to consultant by John Thomas, husband of the founder and Chief Executive Officer of the Company in December 2016) $ 17,249 $ 17,249 Note payable dated March 1, 2017 to Elliott Polatoff, director of the Company, interest at 8%, due April 30, 2017 7,000 — Total $ 24,249 $ 17,249

NOTE 4 - NOTES PAYABLE TO REL16

NOTE 4 - NOTES PAYABLE TO RELATED PARTIES - Notes payable to related parties (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Note payable to Company consultant
Notes payable	$ 17,249	$ 17,249
Note payable to Elliott Polatoff
Notes payable	$ 7,000	$ 0

NOTE 5 - EQUITY TRANSACTIONS (D

NOTE 5 - EQUITY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Common stock sold to individual investors
Common stock sold, shares	220,000	980,000
Common stock sold, value	$ 11,000	$ 49,000
Common stock sold, per share price	$ 0.05	$ 0.05
Common stock issued for services
Common stock issued for services, shares		135,000
Common stock issued for services, value		$ 6,750
Common stock issued for services, per share price		$ 0.05

NOTE 8 - RELATED PARTY TRANSA18

NOTE 8 - RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Professional fees	$ 22,566	$ 0
Legal fees
Professional fees	4,000
Consulting fees
Professional fees	$ 4,000

NOTE 9 - COMMITMENT (Details Na

NOTE 9 - COMMITMENT (Details Narrative)	3 Months Ended
	Mar. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 500