Crown Alliance Capital Ltd

CIK:0001487439|SEC Filings

Summary of Significant Accounting Policies: Earnings Per Share (Policies)	3 Months Ended
Dec. 31, 2013
Policies
Earnings Per Share	Earnings per share In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive.

Summary of Significant Accounting Policies: Earnings Per Share (Policies)

3 Months Ended

Dec. 31, 2013

Earnings per share

In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive.

Supplemental Cash Flow Information

3 Months Ended

Dec. 31, 2013

Notes

Supplemental Cash Flow Information

Note 12 Supplemental cash flow information

	Six Months Ended
	December 31,
	2013		2012
Supplemental information:
Interest paid in cash	$	37,500	$	3,205
Taxes paid in cash	$	--	$	--

Non-cash interest and financing activities:
Cancelled prepaid stock-based compensation	$	(316,897)	$	--
Settlement of share subscriptions received	$	(23,775)	$	--

BALANCE SHEETS (USD $)	Dec. 31, 2013	Jun. 30, 2013
Current assets
Cash	$ 1,006,394	$ 144,769
Prepaid expenses	67,005	1,125,900
Total current assets	1,073,399	1,270,669
Long term assets
Premiums on life settlement policies		76,003
Investments in life settlement policies	1,009,763	615,451
Property and equipment (net)	7,602	9,754
Lease deposit	3,616	3,616
Total long term assets	1,020,981	704,824
Total assets	2,094,380	1,975,493
Current liabilities
Accounts payable and accrued liabilities	104,230	59,037
Accrued interest, related party	4,989	437
Notes payable, related party	85,000	95,000
Total current liabilities	194,219	154,474
Notes payable	1,500,000
Total liabilities	1,694,219	154,474
STOCKHOLDERS' EQUITY
Preferred stock value
Common stock value	195,748	212,705
Additional paid in capital	1,177,187	2,456,455
Share subscriptions received		23,775
Deficit accumulated during the development stage	(972,774)	(871,916)
Total stockholders' equity	400,161	1,821,019
Total liabilities and stockholders' equity	$ 2,094,380	$ 1,975,493