CROWN AUTO HOLDINGS INC.

CIK:0001504307|SEC Filings

Statements of Operations (USD $)	3 Months Ended
Statements of Operations (USD $)	Mar. 31, 2012	Mar. 31, 2011
REVENUES, net
Car lot sales	$ 328,145	$ 571,601
Auto auction sales	233,260
Interest income	11,115	9,144
Total Revenues	572,520	580,745
COST OF SALES, net
Car lot sales	298,589	453,534
Auto auction sales	206,370
Total Cost of Sales	504,959	453,534
GROSS PROFIT	67,561	127,211
OPERATING EXPENSES
Advertising expense	2,384	4,303
Bad debt expense		21,458
Payroll expenses	37,368	9,050
Professional fees	25,762	34,859
Rent expense	7,500	7,500
General and administrative expenses	52,593	23,078
Total Operating Expenses	125,607	100,248
OPERATING INCOME (LOSS)	(58,046)	26,963
OTHER EXPENSE
Interest expense	(1,232)
Total Other Expense	(1,232)
INCOME (LOSS) BEFORE INCOME TAXES	(59,278)	26,963
PROVISION FOR INCOME TAXES		(10,517)
NET INCOME (LOSS)	$ (59,278)	$ 16,446
BASIC AND DILUTED INCOME (LOSS) PER SHARE	$ (0.01)	$ 0.00
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	8,000,000	8,000,000

Statements of Cash Flows (USD $)	3 Months Ended
Statements of Cash Flows (USD $)	Mar. 31, 2012	Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (59,278)	$ 16,446
Adjustments to reconcile net income (loss) to net provided by operating activities:
Bad debt expense		21,458
Expenses paid on behalf of the Company by a third party	7,000	3,500
Changes in operating assets and liabilities:
Accounts receivable	5,618	(3,873)
Restricted cash		13,074
Inventory	59,277	62,556
Income taxes payable		10,516
Accounts payable and accrued expenses	(14,190)	4,396
Net Cash Provided by (Used in) Operating Activities	(1,573)	128,073
CASH FLOWS FROM INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of related party loans		(15,000)
Proceeds from related party loans	50,000
Net Cash Provided by (Used in) Financing Activities	50,000	(15,000)
NET INCREASE IN CASH	48,427	113,073
CASH AT BEGINNING OF PERIOD	86,240	66,652
CASH AT END OF PERIOD	134,667	179,725
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest
Income Taxes

Balance Sheets (USD $)	Mar. 31, 2012	Dec. 31, 2011
CURRENT ASSETS
Cash	$ 134,667	$ 86,240
Installment loans receivable, net	72,335	77,953
Inventory	280,958	340,235
Total Current Assets	487,960	504,428
TOTAL ASSETS	487,960	504,428
CURRENT LIABILITIES
Accounts payable and accrued expenses	76,618	90,808
Related party payable	510,729	460,729
Notes payable	10,500	3,500
Total Current Liabilities	597,847	555,037
Preferred stock, 10,000,000 shares authorized at par value of $0.001; no shares issued and outstanding
Common stock, 90,000,000 shares authorized at par value of $0.001; 8,000,000 shares issued and outstanding	8,000	8,000
Additional paid-in capital	(251,648)	(251,648)
Retained earnings	133,761	193,039
Total Stockholders Deficit	(109,887)	(50,609)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$ 487,960	$ 504,428