Crona (CCCP) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2017shares
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	Crona Corp.
Entity Central Index Key	1,696,411
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	75,000,000

BALANCE SHEET (Unaudited)

BALANCE SHEET (Unaudited) - USD ($)	Apr. 01, 2017	Jan. 01, 2017
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 786	$ 214
Prepaid expenses	775	1,613
Total Current Assets	1,561	1,827
Equipment, net	4,607	4,850
Total Fixed Assets	4,607	4,850
Total Assets	6,168	6,677
Related party loan	8,300	2,600
Total Current Liabilities	8,300	2,600
Total Liabilities	$ 8,300	$ 2,600
Common stock, par value $0.001; 75,000,000 shares authorized, 5,000,000 shares issued and outstanding	5,000	5,000
Accumulated deficit	$ (7,132)	$ (923)
Total Stockholder's Deficit/Equity	(2,132)	4,077
Total Liabilities and Stockholder's Equity	$ 6,168	$ 6,677

BALANCE SHEET (Unaudited) (Pare

BALANCE SHEET (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2017	Jan. 01, 2017
Statement of Financial Position [Abstract]
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	75,000,000	75,000,000
Common stock shares issued	$ 5,000,000	$ 5,000,000
Common stock shares outstanding	5,000,000	5,000,000

STATEMENT OF OPERATIONS

STATEMENT OF OPERATIONS	3 Months Ended
	Mar. 31, 2017USD ($)shares
Income Statement [Abstract]
REVENUES	$ 1,500
Gross Profit	1,500
General and Administrative Expenses	7,709
TOTAL OPERATING EXPENSES	7,709
NET LOSS FROM OPERATIONS	(6,209)
NET LOSS	$ (6,209)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | shares	5,000,000

STATEMENT OF CASH FLOWS

STATEMENT OF CASH FLOWS	3 Months Ended
	Mar. 31, 2017USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (6,209)
Depreciation	243
Decrease in prepaid expenses	838
CASH FLOWS FROM OPERATING ACTIVITIES	(5,128)
Related party loan	5,700
CASH FLOWS FROM FINANCING ACTIVITIES	5,700
NET CHANGE IN CASH	572
Cash, beginning of period	214
Cash, end of period	$ 786

- ORGANIZATION AND NATURE OF BU

- ORGANIZATION AND NATURE OF BUSINESS	3 Months Ended
	Mar. 31, 2017
- ORGANIZATION AND NATURE OF BUSINESS [Abstract]
- ORGANIZATION AND NATURE OF BUSINESS	Note 1 - ORGANIZATION AND NATURE OF BUSINESS Crona Corp. (“the Company”) was incorporated in the State of Nevada on October 6, 2016. Crona Corp. was established for the purpose of quality sound recording needs. The Company is located in Romania. Office address is C. A. Rosetti 15, Bucharest, 30167, Romania.

- GOING CONCERN

- GOING CONCERN	3 Months Ended
	Mar. 31, 2017
- GOING CONCERN [Abstract]
- GOING CONCERN	Note 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), which contemplate continuation of the Company as a going concern. However, the Company had limited revenues as of March 31, 2017. The Company currently has losses of $6,209 and $923 for the three months ended March 31, 2017 and the period from inception (October 6, 2016) to December 31, 2016 respectively and has not completed its efforts to establish a stabilized source of revenue sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company's ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management's efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

- SUMMARY OF SIGNIFCANT ACCOUNT

- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2017
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES [Abstract]
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES	Note 3 - SUMMARY OF SIGNIFCANT 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 E q ui v a lents T h e C o m p a ny c o nsi d ers all h i gh ly li qu i d inves t m e n ts wit h ori g i n a l m atu ritie s o f thre e m on t hs or les s to be ca s h e q u i v a le n t s. 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. Equipment Equipment is stated at cost, net of accumulated depreciation. The cost of equipment is depreciated using the straight-line method over 5 years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the equipment's useful life are capitalized. Equipment sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 605, “Revenue Recognition”. ASC 605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. Since inception to March 31, 2017, the Company has generated $1,500 revenue. Crona Corp. NOTES TO THE FINANCIAL STATEMENTS March 31, 2017 Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 “Earnings per Share”. Basic 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 loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2017 there were no potentially dilutive debt or equity instruments issued or outstanding.

- PROPERTY AND EQUIPMENT, NET

- PROPERTY AND EQUIPMENT, NET	3 Months Ended
	Apr. 01, 2017
- PROPERTY AND EQUIPMENT, NET [Abstract]
Equipment Total, cost [Tables]	Note 4 - PROPERTY AND EQUIPMENT, NET March 31, 2017 Equipment $4,850 Total, cost 4,850 (243) Accumulated Depreciation Equipment, net $4,607

- RELATED PARTY TRANSACTIONS

- RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2017
- RELATED PARTY TRANSACTIONS [Abstract]
- RELATED PARTY TRANSACTIONS	Note 5 - RELATED PARTY TRANSACTIONS The Company's sole director has loaned to the Company $8,300. This loan is unsecured, non-interest bearing and due on demand.

- COMMITMENTS AND CONTINGENCIES

- COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2017
- COMMITMENTS AND CONTINGENCIES [Abstract]
- COMMITMENTS AND CONTINGENCIES	Note 6 - COMMITMENTS AND CONTINGENCIES The Company has entered into a one year rental agreement for a $225 monthly fee, starting on December 1, 2016. The future minimum lease payments under this lease are $2,475 during 2017. For the three months ended March 31, 2017 rent expenses was $675. 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.

- INCOME TAXES

- INCOME TAXES	3 Months Ended
	Apr. 01, 2017
- INCOME TAXES [Abstract]
- INCOME TAXES	Note 7 - INCOME TAXES The Company adopted the provisions of uncertain tax positions as addressed in ASC 740 “Income Taxes” (“ASC 740”). As a result of the implementation of ASC 740, the Company recognized no increase in the liability for unrecognized tax benefits. As of March 31, 2017, the Company had net operating loss carry forwards of approximately $7,132 that may be available to reduce future years' taxable income in varying amounts through 2031. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards. The valuation allowance at March 31, 2017 was approximately $2,425. The net change in valuation allowance for the three months ended March 31, 2017 was $2,111. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a full valuation allowance as of March 31, 2017. All tax years since inception remains open for examination by taxing authorities. Crona Corp. NOTES TO THE FINANCIAL STATEMENTS March 31, 2017 The provision for Federal income tax consists of the following: As of March 31, 2017 As of December 31, 2016 Non-current deferred tax assets: Net operating loss carry forward $ (2,425 ) (314 ) Valuation allowance $ 2,425 314 Net deferred tax assets $ - - The actual tax benefit at the expected rate of 34% differs from the expected tax benefit for the year ended March 31, 2017 as follows: As of March 31, 2017 As of December 31, 2016 Computed “expected” tax expense (benefit) $ (2,111 ) (314 ) Change in valuation allowance $ 2,111 314 Actual tax expense (benefit) $ - - The related deferred tax benefit on the above unutilized tax losses has a full valuation allowance not recognized against it as there is no certainty of its realization. Management has evaluated tax positions in accordance with ASC 740 and has not identified any significant tax positions, other than those disclosed.

- SUBSEQUENT EVENTS

- SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2017
- SUBSEQUENT EVENTS [Abstract]
- SUBSEQUENT EVENTS	Note 8 - SUBSEQUENT EVENTS In accordance with ASC 855, “Subsequent Events”, the Company has analyzed its operations subsequent to March 31, 2017 to May 3, 2017, and has determined that it does not have any material subsequent events to disclose in these financial statements.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Significant Accounting Policies (Policies) [Abstract]
Basis of presentation	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	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	Cash and Cash E q ui v a lents T h e C o m p a ny c o nsi d ers all h i gh ly li qu i d inves t m e n ts wit h ori g i n a l m atu ritie s o f thre e m on t hs or les s to be ca s h e q u i v a le n t s.
Income Taxes	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.
Equipment	Equipment Equipment is stated at cost, net of accumulated depreciation. The cost of equipment is depreciated using the straight-line method over 5 years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the equipment's useful life are capitalized. Equipment sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 605, “Revenue Recognition”. ASC 605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. Since inception to March 31, 2017, the Company has generated $1,500 revenue. Crona Corp. NOTES TO THE FINANCIAL STATEMENTS March 31, 2017
Basic Income (Loss) Per Share	Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 “Earnings per Share”. Basic 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 loss per share excludes all potential common shares if their effect is anti-dilutive. As of March 31, 2017 there were no potentially dilutive debt or equity instruments issued or outstanding.

- PROPERTY AND EQUIPMENT, NET (

- PROPERTY AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2017
- PROPERTY AND EQUIPMENT, NET (Tables) [Abstract]
- PROPERTY AND EQUIPMENT, NET	Note 4 - PROPERTY AND EQUIPMENT, NET March 31, 2017 Equipment $4,850 Total, cost 4,850 (243) Accumulated Depreciation Equipment, net $4,607

- INCOME TAXES (Tables)

- INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2017
- INCOME TAXES (Tables) [Abstract]
The provision for Federal income	The provision for Federal income tax consists of the following: As of March 31, 2017 As of December 31, 2016 Non-current deferred tax assets: Net operating loss carry forward $ (2,425 ) (314 ) Valuation allowance $ 2,425 314 Net deferred tax assets $ - -
The actual tax benefit at	The actual tax benefit at the expected rate of 34% differs from the expected tax benefit for the year ended March 31, 2017 as follows: As of March 31, 2017 As of December 31, 2016 Computed “expected” tax expense (benefit) $ (2,111 ) (314 ) Change in valuation allowance $ 2,111 314 Actual tax expense (benefit) $ - -

- GOING CONCERN (Details Text)

- GOING CONCERN (Details Text) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
- GOING CONCERN [Abstract]
The Company currently has losses of $6,209 and $923 for the three months ended March 31, 2017 and the period from inception (October 6, 2016) to December 31, 2016 respectively and has not completed its efforts to establish a stabilized source of revenue sufficient to cover operating costs over an extended period of time	$ 6,209	$ 923

- SUMMARY OF SIGNIFCANT ACCOU18

- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Text)	Mar. 31, 2017USD ($)
- SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES [Abstract]
The cost of equipment is depreciated using the straight-line method over 5 years	$ 5
Since inception to March 31, 2017, the Company has generated $1,500 revenue.	$ 1,500

- PROPERTY AND EQUIPMENT, NET19

- PROPERTY AND EQUIPMENT, NET (Details 1) - USD ($)	Apr. 01, 2017	Mar. 31, 2017	Jan. 01, 2017
Property And Equipment Net [Abstract]
Equipment		$ 4,850
Total, cost		4,850
Accumulated Depreciation		243
Equipment, net	$ 4,607	$ 4,607	$ 4,850

- RELATED PARTY TRANSACTIONS (D

- RELATED PARTY TRANSACTIONS (Details Text)	Mar. 31, 2017USD ($)
- RELATED PARTY TRANSACTIONS [Abstract]
The Company's sole director has loaned to the Company $8,300	$ 8,300

- COMMITMENTS AND CONTINGENCI21

- COMMITMENTS AND CONTINGENCIES (Details Text)	Mar. 31, 2017USD ($)
Commitments And Contingencies [Abstract]
The Company has entered into a one year rental agreement for a $225 monthly fee, starting on December 1, 2016	$ 225
The future minimum lease payments under this lease are $2,475 during 2017	2,475
For the three months ended March 31, 2017 rent expenses was $675.	$ 675

- INCOME TAXES (Details 1)

- INCOME TAXES (Details 1) - USD ($)	Mar. 31, 2017	Jan. 01, 2017
Income Taxes [Abstract]
Net operating loss carry forward	$ (2,425)	$ (314)
Valuation allowance	$ 2,425	$ 314

- INCOME TAXES (Details 2)

- INCOME TAXES (Details 2) - USD ($)	Mar. 31, 2017	Jan. 01, 2017
Income Taxes [Abstract]
Computed "expected" tax expense (benefit)	$ (2,111)	$ (314)
Change in valuation allowance	$ 2,111	$ 314

- INCOME TAXES (Details Text)

- INCOME TAXES (Details Text)	Mar. 31, 2017USD ($)
Income Taxes [Abstract]
As of March 31, 2017, the Company had net operating loss carry forwards of approximately $7,132 that may be available to reduce future years' taxable income in varying amounts through 2031	$ 7,132
The valuation allowance at March 31, 2017 was approximately $2,425	2,425
The net change in valuation allowance for the three months ended March 31, 2017 was $2,111	$ 2,111
The actual tax benefit at the expected rate of 34% differs from the expected tax benefit for the year ended March 31, 2017 as follows:	34.00%