Crown Marketing March 31, 2012 10-Q

0001002334-12-000075.txt : 20120605 0001002334-12-000075.hdr.sgml : 20120605 20120605162653 ACCESSION NUMBER: 0001002334-12-000075 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120605 DATE AS OF CHANGE: 20120605 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CROWN MARKETING CENTRAL INDEX KEY: 0001098009 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 980178621 STATE OF INCORPORATION: WY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-27873 FILM NUMBER: 12889420 BUSINESS ADDRESS: STREET 1: 22 MOUNTAIRE COURT STREET 2: HIGHLAND AVENUE CITY: LONDON STATE: X0 ZIP: NW9 0QA BUSINESS PHONE: 447896150866 MAIL ADDRESS: STREET 1: 22 MOUNTAIRE COURT STREET 2: HIGHLAND AVENUE CITY: LONDON STATE: X0 ZIP: NW9 0QA FORMER COMPANY: FORMER CONFORMED NAME: SPACE LAUNCHES FINANCING INC DATE OF NAME CHANGE: 19991028 10-Q/A 1 crownmarmarch2012qamd1.htm CROWN MARKETING MARCH 31, 2012 10-Q Crown Marketing March 31, 2012 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q/A

x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2012

oTRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 000-27873

CROWN MARKETING

(Exact name of registrant as specified in its charter)

Wyoming

98-0178621

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification Number)

25 Mountaire Court, Highland Avenue London, UK

NW9 0QA

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number: +447896150866

Indicate by check mark whether registrant (1) has filed all reports to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. o Yes x No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files). xYes o No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act (Check one):


Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer (Do not check if smaller reporting company)	o	Smaller reporting company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes x No o

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

There were 4,346,760 shares of common stock issued and outstanding as of May 14, 2012.

CROWN MARKETING

PART I. FINANCIAL INFORMATION

Page(s)

Item 1.

Financial Statements

Condensed Consolidated Balance Sheets as of March 31, 2012 (unaudited) and

June 30, 2011

Unaudited Condensed Consolidated Statements of Operations for the three and nine

month periods ended March 31, 2012 and 2011

Unaudited Consolidated Statements of Cash Flows for the nine month periods ended

March 31, 3012 and 2011

Notes to the Unaudited Condensed Consolidated Financial Statements

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of

Operations

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Item 4.

Controls and Procedures

PART II – OTHER INFORMATION

Item 1.

Legal Proceedings

Item 1A.

Risk Factors

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

Item 3

Defaults Upon Senior Securities

Item 4.

Mine Safety Disclosures

Item 5.

Other Information

Item 6.

Exhibits

Signatures

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

CROWN MARKETING

(A Development Stage Company)

CONDENSED CONSOLIDATED BALANCE SHEETS


		MARCH 31,		JUNE 30,
		2012		2011
		(unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$	132	$	6,725

Total Current Assets		132		6,725

TOTAL ASSETS	$	132		6,725


LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current Liabilities
Notes payable	$	4,666	$	--
Accrued interest		33		--
Accounts payable		5,406		5,815
Accounts payable - related party		--		3,809

Total Current Liabilities		10,105		9,624

Total Liabilities		10,105		9,624

Stockholders' Deficiency
Preferred stock, no par value, unlimited
shares authorized; no shares issued and outstanding		--		--
Common stock, no par value; unlimited shares
authorized; 4,346,760 shares
issued and outstanding, respectively		21,160		21,100
Accumulated Deficit		(31,133)		(23,999)

Total Stockholders' Deficiency		(9,973)		(2,899)

TOTAL LIABILITIES AND STOCKHOLDERS'
DEFICIENCY	$	132	$	6,725

See accompanying Notes to Consolidated Condensed Financial Statements.

CROWN MARKETING

(A Development Stage Company)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)


		FOR THE		FOR THE		FOR THE		FOR THE		FOR THE
		NINE		NINE		THREE		THREE		PERIOD
		MONTHS		MONTHS		MONTHS		MONTHS		July 8, 2009
		ENDED		ENDED		ENDED		ENDED		(INCEPTION)
		March 31,		March 31,		March 31,		March 31,		THROUGH
		2012		2011		2012		2011		Mar. 31, 2012


REVENUES	$	4,500	$	--	$	--	$	--	$	4,500

COST OF GOODS SOLD		456		--		--		--		456
GROSS PROFIT		4,044								4,044

EXPENSES		11,145		20,175		4,417		310		35,144

Operating Loss		(7,101)		(20,175)		(4,417)		(310)		(31,100)

Other expense - interest		(33)		--		--		--		(33)

NET LOSS	$	(7,134)	$	(20,175)	$	(4,417)	$	(310)	$	(31,133)

Net Loss per share - basis and diluted	$	(0.00)	$	(0.00)	$	(0.00)	$	(0.00)


Weighted average shares outstanding
- basic and diluted		4,346,760		4,346,760		4,346,760		4,335,883

See accompanying Notes to Condensed Consolidated Financial Statements.

CROWN MARKETING

(A Development Stage Company)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


						FOR THE
		FOR THE		FOR THE		PERIOD
		NINE		NINE		July 8, 2009
		MONTHS		MONTHS		(INCEPTION)
		ENDED		ENDED		THROUGH
		March 31, 2012		March 31, 2011		March 31, 2012
		(Unaudited)		(Unaudited)		(Unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss	$	(7,134)	$	(20,175)	$	(31,133)
Adjustments to reconcile net loss to net cash
used in operating activities:
Increase in prepaid state filing fees		--		5,475		--
Increase in accounts payable and accrued expenses		(376)		5,815		5,439
Cash overdraft		--		(7,050)		--
Accounts payable -related party		(3,809)		3,559		--
Net cash used in operating activities		(11,319)		(12,376)		(25,694)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock
and warrants		--		12,800	--	13,500
Proceeds from notes payable		4,666		--		4,666
Contribution to capital by officer		60		7,600		7,660
Net cash provided by financing activities		4,726		20,400		25,826

Net increase (decrease) in cash and
cash equivalents		(6,593)		8,024		132
Cash and cash equivalents, beginning of period		6,725		--		--
Cash and cash equivalents, end of period	$	132	$	8,024	$	132

Supplemental Disclosure of Cash Flow Information:
Interest paid	$	--	$	--	$	--
Income taxes paid	$	--	$	--	$	--

See accompanying Notes to Condensed Consolidated Financial Statements

CROWN MARKETING

(A Development Stage Company)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012

NOTE 1 – NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

The Company

Green4Green was organized as a Wyoming corporation on July 8, 2009. On July 14, 2010, Crown Marketing (the "Company"), a successor by merger to SPCL Holding Corporation, acquired Green4Green pursuant to an Agreement and Plan of Reorganization (the Agreement). The Company acquired all of the outstanding shares of Green4Green in exchange for 4,000,000 newly issued shares of the Company's Common Stock. Pursuant to the Agreement, the issued and outstanding common shares of Green4Green were exchanged on a one-for-one basis for common shares of the Company. After the merger was completed, the Green4Green shareholders owned approximately 98% of the outstanding shares of common stock of the Company. The transaction was accounted for as a reverse merger (recapitalization) with Green4Green deemed to be the accounting acquirer and the Company deemed to be the legal acquirer. The financial statements presented herein are those of the accounting acquirer given the effect of the issuance of 89,080 shares of common stock upon completion of the transaction. After the acquisition, the Company closed on the issuance of 240,000 shares of common and warrants for cash of $12,000 (See Note 5).

The Company is engaged in the wholesaling of generic pharmaceuticals to the developing world. The Company has not realized revenues from its planned principal business purpose and is considered to be in its development state in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, “Development Stage Entities” (formerly Statement of Financial Accounting Standards (“SFAS”) No 7, “Accounting and Reporting by Development State Enterprises.”)

These consolidated financial statements include the accounts Green4Green and the Company. All intercompany transactions and accounts have been eliminated in consolidation.

Interim Financial Statements

The accompanying consolidated financial statements as of and for the periods ended March 31, 2012 and 2011 have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results and operations, changes in stockholders' deficiency and cash flows at March 31, 2012 and 2011 and for all periods presented herein, have been made. The results of operations for the periods ended March 31, 2012 and 2011 are not necessarily indicative of the operating results for the full years. The accompanying financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions for Form 10-Q and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's audited financial statements included in the Company's Registration Statement on Form S-1, file no. 333-176776. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The results for the periods ended March 31, 2012 are not necessarily indicative of the results of operations for the full year.

Revenue Recognition

The Company recognizes sales in accordance with the United States Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) No. 104, “Revenue Recognition”. The Company recognizes revenue when the following fundamental criteria are met: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred or services have been rendered, (iii) the price to the customer is fixed or determinable and (iv) collection of the resulting receivable is reasonably assured. Revenue is not recognized until title and risk of loss is transferred to the customer, which generally occurs upon delivery of goods, and objective evidence exists that customer acceptance provisions have been met.

CROWN MARKETING

(A Development Stage Company)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012

NOTE 1 – NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (continued)

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.

Estimates

The preparation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods. Actual results may differ from those estimates and such differences may be material to the financial statements. The more significant estimates and assumptions by management include among others, the fair value of shares issued for services. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions.

Fair Value Measurements

Fair value measurements are determined using authoritative guidance issued by the FASB, with the exception of the application of the guidance to non-recurring, non-financial assets and liabilities as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly.

Level 3—Unobservable inputs based on the Company's assumptions.

The Company is required to use observable market data if available without undue cost and effort.

The Company’s financial instruments include cash and cash equivalents, accounts payable, and accrued expenses. Management has estimated that the carrying amounts approximate their fair value due to the short-term nature.

Loss Per Share

Basic loss per share has been computed using the weighted average number of common shares outstanding and issuable during the period. Diluted loss per share is computed based on the weighted average number of common shares and all common equivalent shares outstanding during the period in which they are dilutive. Common equivalent shares consist of shares issuable upon the exercise of stock options, warrants or other convertible securities such as convertible notes. As of March 31, 2012 and March 31, 2011, common stock equivalents were comprised of warrants exercisable into 2,400,000 shares of the Company’s common stock. For the nine and three months ended March 31, 2012 and 2011, and the period July 8, 2009 (inception) to March 31, 2012, common stock equivalent shares have been excluded from the calculation of loss per share as their effect is anti-dilutive.

CROWN MARKETING

(A Development Stage Company)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012

NOTE 1 – NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (continued)

Stock-Based Compensation

The Company periodically issues stock instruments, including shares of its common stock, stock options, and warrants to purchase shares of its common stock to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option awards issued and vesting to employees in accordance with authorization guidance of the FASB whereas the value of stock-based compensation is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite service period. Options to purchase shares of the Company’s common stock vest and expire according to the terms established at the grant date.

The Company accounts for stock options and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the FASB whereas the value of the stock compensation is based upon the measurement date as determined at either (a) the date at which a performance commitment is reached, or (b) at the date at which the necessary performance to earn the equity instruments is complete.

Recent Accounting Pronouncements

In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) No. 2011-04, “Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”. ASU No. 2011-4 does not require additional fair value measurements and is not intended to establish valuation standards or affect valuation practices outside of financial reporting. The ASU is effective for interim and annual periods beginning after December 15, 2011. The Company adopted ASU No. 2011-04 effective January 1, 2012 and it did not affect the Company’s results of operations, financial condition or liquidity.

In June 2011, the FASB issued ASU No. 2011-05, “Presentation of Comprehensive Income”. The ASU eliminates the option to present the components of other comprehensive income as part of the statement of changes in shareholders’ equity, and instead requires consecutive presentation of the statement of net income and other comprehensive income either in a continuous statement of comprehensive income or in two separate but consecutive statements. ASU No. 2011-5 is effective for interim and annual periods beginning after December 15, 2011. The Company adopted ASU 2011-05 effective January 1, 2012 and it did not affect the Company’s results of operations, financial condition or liquidity.

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-11, “Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities.” This ASU requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. ASU No. 2011-11 will be applied retrospectively and is effective for annual and interim reporting periods beginning on or after January 1, 2013. The Company does not expect adoption of this standard to have a material impact on its consolidated results of operations, financial condition, or liquidity.

Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the Securities Exchange Commission (the "SEC") did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

CROWN MARKETING

(A Development Stage Company)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012

NOTE 2 - GOING CONCERN

The Company incurred a net loss of $7,134 for the nine months ended March 31, 2012. The Company's liabilities exceed its assets by $9,973 as of March 31, 2012. The Company has received limited revenues to date. These factors create substantial doubt about the Company's ability to continue as a going concern. The Company's management plans to continue as a going concern revolves around its ability to achieve, as well as raise necessary capital to pay ongoing general and administrative expenses of the Company.

The ability of the Company to continue as a going concern is dependent on securing additional sources of capital and the success of the Company's plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE 3 - RELATED PARTY TRANSACTIONS

Accounts payable-related party represent funds advance to the Company from an officer of the Company. The advances are unsecured, due on demand, and non-interest bearing.

NOTE 4 – INCOME TAXES

As of March 31, 2012 and June 30, 2011, the Company had net operating loss carryforwards of approximately $31,000 and $24,000, which expire in varying amounts between 2017 and 2027. Realization of this potential future tax benefit is dependent on generating sufficient taxable income prior to expiration of the loss carryforward. The deferred tax asset related to this (and other) potential future tax benefits has been offset by a valuation allowance in the same amount. The amount of the deferred tax asset ultimately realizable could be increased in the near term if estimates of future taxable income during the carryforward period are revised.

Deferred income tax assets of $10,897 and $8,400 at March 31, 2012 and June 30, 2011, respectively were offset in full by a valuation allowance.

The components of the Company's net deferred tax assets, including a valuation allowance, are as follows:

As of

March 31, 2012

June 30, 2011

Net deferred tax assets before

valuation allowance

10,897

8,400

Less: Valuation Allowance

(10,897)

8,400

Net deferred tax assets

CROWN MARKETING

(A Development Stage Company)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012

NOTE 4 – INCOME TAXES - CONTINUED

A reconciliation between the amounts of income tax benefit determined by applying the applicable U.S. and State statutory income tax rate to pre-tax loss is as follows:

As of

March 31, 2012

June 30, 2011

Tax expense at the U.S.

statutory income tax

(35%)

Statutory state income tax

Increase in valuation allowance

35%

Effective tax rate

Due to the inherent uncertainty in forecasts and future events and operating results, the Company has provided for a valuation allowance in an amount equal to gross deferred tax assets resulting in the above figures for the periods audited.

NOTE 5 – STOCKHOLDERS’ DEFICIENCY

The Company has authorized an unlimited number of shares of preferred stock, no par value, with such rights, preferences and designation and to be issued in such series as determined by the Board of Directors. No shares of preferred stock are issued and outstanding at March 31, 2012 or June 30, 2011.

The Company has authorized an unlimited number of shares of no par value common stock, of which 4,346,760, and 4,346,760 shares are outstanding at March 31, 2012 and June 30, 2011, respectively.

In the fiscal year ended June 30, 2011, the Company issued 89,080 shares in the reverse acquisition as described in Note 1.

In July 2010, the Company sold 240,000 units of its common stock for an aggregate consideration of $12,000. Each unit consisted of 1 share of common stock and 10 warrants to acquire a share of the Company’s common stock at an exercise price of $0.07 per share with expiration date on December 31, 2014 (2,400,000 warrants in aggregate). As of March 31, 2012 and June 30, 2011, the Company has outstanding and exerciseable warrants of 2,400,000 resulting from this transaction.

In March 2011, the Company sold 11,000 shares of its common stock for cash for net proceeds of $1,100.

The officer and director contributed $7,200 in cash to the Company in March, 2011, and $60 in the quarter ended December 31, 2011.

NOTE 6 – NOTE PAYABLE

The note payable represents amounts loaned to the Company during the March 31, 2012 quarter, and is represented by a written unsecured note payable on demand with interest at 4%.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward Looking Statement Notice

Certain statements made in this Quarterly Report on Form 10-Q are “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Crown Marketing,(“we”, “us”, “our” or the “Company”) to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company's plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this Quarterly Report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.

Plan of Operations

Critical Accounting Policies and Estimates

Principles of consolidation. The condensed consolidated financial statements include the accounts of the Company and its subsidiary. All significant inter-company balances and transactions are eliminated on consolidation.

Use of estimates. In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the financial statements, as well as the reported amounts of revenues and expenses during the reporting periods. These accounts and estimates include, but are not limited to, the valuation of accounts receivable, inventories, deferred income taxes and the estimation on useful lives of property, plant and equipment. Actual results could differ from those estimates.

Plan of Operations

We did not enjoy any revenues until the quarter ended December 31, 2011. We had losses of $7,134 and $20,175 for the nine months ended March 31, 2012 and 2011, respectively. Our operating expenses consist primarily of costs related to the purchase, warehousing and transport of inventory, in addition to expenses associated with the cost of being public of no more than $2,500 per month. However, management has been able to hold costs much lower than this level in the past few months. As of March 31, 2012 we had $132 in cash. Our officer/shareholder is providing substantially all of our working capital and will continue to do so until at least June 30, 2012. We had limited sales of $4,500 in the December 31, 2011 quarter, to one person, with a gross margin of $4,044. Since this was a disposal of inventory to another wholesaler, this gross margin is not representative of future results, which will likely be a lower gross margin as a percentage of sales. We are seeking suppliers for inventory. We disposed of the inventory in October 2011 since we did not believe that it had consistent quality.

We had accounts payable and accrued expenses of $5,439 as of March 31, 2012, which represented amounts due for operating expenses and interest. We also borrowed $4,666 from a third party at 4%, due on demand. We used $6,593 of cash in the nine months ended March 31, 2012 to repay related party debt of $3,809, purchase inventory of $456 and to pay down accounts payable. Our cash was $132 as of March 31, 2012.

Our cash needs in the year ended June 30, 2012 are estimated to be $50,000. We sold 240,000 Units for net proceeds of $12,000 in June 2010, and sold 11,000 shares for net proceeds of $1,100 in March 2011 including $300 which was received in April 2011. Our officer and director contributed $400 and $7,200 to capital in cash in July 2010 and March 2011, respectively, and $60 in the six months ended December 31, 2011. These amounts together with advances from management and loans from third parties should be sufficient to cover our cash needs through the end of the year ended June 30, 2012, at which time, unless we receive revenues, we will be required to obtain additional funding. We have no arrangement or understanding pursuant to which we might obtain such funding.

Recent Accounting Pronouncements

Forward Looking Statements

Information included in this report includes forward looking statements, which can be identified by the use of forward-looking terminology such as may, expect, anticipate, believe, estimate, or continue, or the negative thereof or other variations thereon or comparable terminology. The statements in "Risk Factors" and other statements and disclaimers in this report constitute cautionary statements identifying important factors, including risks and uncertainties, relating to the forward-looking statements that could cause actual results to differ materially from those reflected in the forward-looking statements.

Since we have not yet generated any revenues, we are a development stage company as that term is defined in Section 915 - Development Stage Entities, of the FASB Accounting Standards Codification. Our activities have mostly been devoted to seeking capital; seeking supply contracts and development of a business plan. Our auditors have included an explanatory paragraph in their report on our financial statements, relating to the uncertainty of our business as a going concern, due to our lack of operating history or current revenues, its nature as a start up business, management's limited experience and limited funds. We do not believe that conventional financing, such as bank loans, is available to us due to these factors. We have no bank line of credit available to us. Management believes that it will be able to raise the required funds for operations from one or more future offerings, in order to effect our business plan.

Our future operating results are subject to our attaining certain milestones, including:

o our success in entering into favorable arrangements with pharmaceutical distributors;

o the success of our marketing efforts;

o our ability to obtain additional financing; and

o other risks which we identify in future filings with the SEC.

Any or all of our forward looking statements in this prospectus and in any other public statements we make may turn out to be wrong. They can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. Consequently, no forward looking statement can be guaranteed. In addition, we undertake no responsibility to update any forward-looking statement to reflect events or circumstances which occur after the date of this prospectus.

Contractual Obligations and Off-Balance Sheet Arrangements

We do not have any contractual obligations or off balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

The Company’s principal executive officer and its principal financial officer, based on his evaluation of the Company’s disclosure controls and procedures (as defined in Exchange Act Rules 13a-14(c) and 15d -14 (c) as of March 31, 2012. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the Evaluation Date that our disclosure controls and procedures were effective to enable us to accurately record, process, summarize and report certain information required to be included in the Company’s periodic SEC filings within the required time periods, and to accumulate and communicate to our management, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Our management, including our chief executive officer and chief financial officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected.

Changes in Internal Controls

There have been no changes in our internal controls over financial reporting during the quarter ended March 31, 2012 that have materially affected or are reasonably likely to materially affect our internal controls.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings.

We are not a party to or otherwise involved in any legal proceedings.

In the ordinary course of business, we are from time to time involved in various pending or threatened legal actions. The litigation process is inherently uncertain and it is possible that the resolution of such matters might have a material adverse effect upon our financial condition and/or results of operations. However, in the opinion of our management, other than as set forth herein, matters currently pending or threatened against us are not expected to have a material adverse effect on our financial position or results of operations.

Item 1A. Risk Factors.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

There have been no events which are required to be reported under this Item.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

None.

Item 6. Exhibits.

31. Certification of CEO and CFO.

32. Certification pursuant to 18 U.S.C. Section 1350 of CEO and CFO

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	CROWN MARKETING

Dated: June 5, 2012	By:	/s/ Igor Produn
		Igor Produn
		CEO and Chief Financial Officer (chief financial and accounting officer and duly authorized officer)

EX-31 2 certificationamd1.htm CERTIFICATION CERTIFICATION

CERTIFICATION

I, Igor Produn, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Crown Marketing;

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;

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;

4. The registrant’s other certifying officer(s) and 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 Rules 13a-15(f) and 15d-15(f) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our 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

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our 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

(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 quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of 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):

(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(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: June 5, 2012
    /s/ Igor Produn
    ----------------------------
        Igor Produn
        Chief Executive and Financial Officer
       (Principal Executive and Financial Officer)

EX-32 3 ex32amd.htm EXHIBIT 32 EXHIBIT 32

EXHIBIT 32

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Crown Marketing (the "Company") on Form 10-Q for the period ending March 31, 2012, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Igor Produn, Chief Executive and Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities and Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

June 5, 2012

/s/ Igor Produn

Igor Produn

Chief Executive and Financial Officer

(Principal Executive Financial Officer)

Date

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NOTE 4 INCOME TAXES   As of March 31, 2012 and June 30, 2011, the Company had net operating loss carryforwards of approximately $31,000 and $24,000, which expire in varying amounts between 2017 and 2027.   Realization of this potential future tax benefit is dependent on generating   sufficient taxable income prior to expiration of the loss carryforward.  The deferred tax asset related to this (and other) potential future tax benefits has been offset by a valuation allowance in the same amount. The amount of the deferred tax asset ultimately realizable could be increased in the near term if estimates of future taxable income during the carryforward period are revised.   Deferred income tax assets of $10,897 and $8,400 at March 31, 2012 and June 30, 2011, respectively were offset in full by a valuation allowance.   The components of the Company's net deferred tax assets, including a valuation allowance, are as follows:                                                                                                  As of                              As of                                                                                       March 31, 2012             June 30, 2011                  Net deferred tax assets before                  valuation allowance                                $            10,897                 $              8,400                Less: Valuation Allowance                                 (10,897)                                 8,400                Net deferred tax assets                                                     --                                        --                           CROWN MARKETING (A Development Stage Company) NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS   FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011 AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012   NOTE 4 INCOME TAXES - CONTINUED   A reconciliation between the amounts of income tax benefit determined by applying the applicable U.S. and State statutory income tax rate to pre-tax loss is as follows:                                                                                                      As of                              As of                                                                                       March 31, 2012             June 30, 2011                  Tax expense at the U.S.                  statutory income tax                               $             (35%)                         (35%)                Statutory state income tax                                               --                                 --                Increase in valuation allowance                                35%                            35%                Effective tax rate                                                              --                                 --   Due to the inherent uncertainty in forecasts and future events and operating results, the Company has provided for a valuation allowance in an amount equal to gross deferred tax assets resulting in the above figures for the periods audited.

NOTE 6 NOTE PAYABLE   The note payable represents amounts loaned to the Company during the March 31, 2012 quarter, and is represented by a written unsecured note payable on demand with interest at 4%.

NOTE 3 - RELATED PARTY TRANSACTIONS   Accounts payable-related party represent funds advance to the Company from an officer of the Company.  The advances are unsecured, due on demand, and non-interest bearing.

NOTE 2 - GOING CONCERN   The Company incurred a net loss of $7,134 for the nine months ended March 31, 2012.  The Company's liabilities exceed its assets by $9,973 as of March 31, 2012.  The Company has received limited revenues to date.  These factors create substantial doubt about the Company's ability to continue as a going concern.  The  Company's  management  plans to continue as a going concern  revolves  around  its  ability  to  achieve,  as  well  as  raise  necessary  capital  to pay ongoing general and administrative expenses  of  the  Company.

Interim Financial Statements   The accompanying consolidated financial statements as of and for the periods ended March 31, 2012 and 2011  have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results and operations, changes in stockholders' deficiency and cash flows at March 31,  2012 and 2011 and for all periods presented herein, have been made. The results of operations for the periods ended March 31, 2012 and 2011 are not necessarily indicative of the operating results for the full years. The accompanying financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions for Form 10-Q and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's audited financial statements included in the Company's Registration Statement on Form S-1, file no. 333-176776.  Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The results for the periods ended March 31, 2012 are not necessarily indicative of the results of operations for the full year.

NOTE 1 NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (continued)   Cash and Cash Equivalents   For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.   Estimates   The preparation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods.  Actual results may differ from those estimates and such differences may be material to the financial statements.  The more significant estimates and assumptions by management include among others, the fair value of shares issued for services. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions.   Fair Value Measurements   Fair value measurements are determined using authoritative guidance issued by the FASB, with the exception of the application of the guidance to non-recurring, non-financial assets and liabilities as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:   Level 1Quoted prices in active markets for identical assets or liabilities. Level 2Inputs, other than the quoted prices in active markets, are observable either directly or indirectly. Level 3Unobservable inputs based on the Company's assumptions.   The Company is required to use observable market data if available without undue cost and effort.

Loss Per Share   Basic loss per share has been computed using the weighted average number of common shares outstanding and issuable during the period. Diluted loss per share is computed based on the weighted average number of common shares and all common equivalent shares outstanding during the period in which they are dilutive. Common equivalent shares consist of shares issuable upon the exercise of stock options, warrants or other convertible securities such as convertible notes. As of March 31, 2012 and March 31, 2011, common stock equivalents were comprised of warrants exercisable into 2,400,000 shares of the Companys common stock.  For the nine and three months ended March  31, 2012 and 2011, and the period July 8, 2009 (inception) to March 31, 2012, common stock equivalent shares have been excluded from the calculation of loss per share as their effect is anti-dilutive.

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Income Taxes	3 Months Ended
Mar. 31, 2012
Income Taxes
Income Tax Disclosure [Text Block]	NOTE 4 – INCOME TAXES As of March 31, 2012 and June 30, 2011, the Company had net operating loss carryforwards of approximately $31,000 and $24,000, which expire in varying amounts between 2017 and 2027. Realization of this potential future tax benefit is dependent on generating sufficient taxable income prior to expiration of the loss carryforward. The deferred tax asset related to this (and other) potential future tax benefits has been offset by a valuation allowance in the same amount. The amount of the deferred tax asset ultimately realizable could be increased in the near term if estimates of future taxable income during the carryforward period are revised. Deferred income tax assets of $10,897 and $8,400 at March 31, 2012 and June 30, 2011, respectively were offset in full by a valuation allowance. The components of the Company's net deferred tax assets, including a valuation allowance, are as follows: As of As of March 31, 2012 June 30, 2011 Net deferred tax assets before valuation allowance $ 10,897 $ 8,400 Less: Valuation Allowance (10,897) 8,400 Net deferred tax assets -- -- CROWN MARKETING (A Development Stage Company) NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011 AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012 NOTE 4 – INCOME TAXES - CONTINUED A reconciliation between the amounts of income tax benefit determined by applying the applicable U.S. and State statutory income tax rate to pre-tax loss is as follows: As of As of March 31, 2012 June 30, 2011 Tax expense at the U.S. statutory income tax $ (35%) (35%) Statutory state income tax -- -- Increase in valuation allowance 35% 35% Effective tax rate -- -- Due to the inherent uncertainty in forecasts and future events and operating results, the Company has provided for a valuation allowance in an amount equal to gross deferred tax assets resulting in the above figures for the periods audited.

Income Taxes

3 Months Ended

Mar. 31, 2012

Income Taxes

Income Tax Disclosure [Text Block]

NOTE 4 – INCOME TAXES

Deferred income tax assets of $10,897 and $8,400 at March 31, 2012 and June 30, 2011, respectively were offset in full by a valuation allowance.

The components of the Company's net deferred tax assets, including a valuation allowance, are as follows:

As of As of

March 31, 2012 June 30, 2011

Net deferred tax assets before

valuation allowance $ 10,897 $ 8,400

Less: Valuation Allowance (10,897) 8,400

Net deferred tax assets -- --

CROWN MARKETING

(A Development Stage Company)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE UNAUDITED NINE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE UNAUDITED PERIOD JULY 8, 2009 (INCEPTION) TO MARCH 31, 2012

NOTE 4 – INCOME TAXES - CONTINUED

A reconciliation between the amounts of income tax benefit determined by applying the applicable U.S. and State statutory income tax rate to pre-tax loss is as follows:

As of As of

March 31, 2012 June 30, 2011

Tax expense at the U.S.

statutory income tax $ (35%) (35%)

Statutory state income tax -- --

Increase in valuation allowance 35% 35%

Effective tax rate -- --

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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The note payable represents amounts loaned to the Company during the March 31, 2012 quarter, and is represented by a written unsecured note payable on demand with interest at 4%.

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CROWN MARKETING AND SUBSIDIARY - CONSOLIDATED BALANCE SHEETS (USD $)

Mar. 31, 2012

Jun. 30, 2011

ASSETS

Cash and cash equivalents $ 132 $ 6,725

Total current assets 132 6,725

Total Assets 132 6,725

Notes payable 4,666

Accounts payable 5,406 5,815

Accounts payable related parties 3,809

Total current liabilities 10,105 9,624

Common stock 21,160 21,100

Retained earnings (31,133) 23,999

Total Equity (9,973) (2,899)

TOTAL LIABILITIES AND EQUITY $ 132 $ 6,725

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Interim Reporting
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The accompanying consolidated financial statements as of and for the periods ended March 31, 2012 and 2011 have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results and operations, changes in stockholders' deficiency and cash flows at March 31, 2012 and 2011 and for all periods presented herein, have been made. The results of operations for the periods ended March 31, 2012 and 2011 are not necessarily indicative of the operating results for the full years. The accompanying financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions for Form 10-Q and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's audited financial statements included in the Company's Registration Statement on Form S-1, file no. 333-176776. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The results for the periods ended March 31, 2012 are not necessarily indicative of the results of operations for the full year.

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Commitment and Contingencies
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The Company incurred a net loss of $7,134 for the nine months ended March 31, 2012. The Company's liabilities exceed its assets by $9,973 as of March 31, 2012. The Company has received limited revenues to date. These factors create substantial doubt about the Company's ability to continue as a going concern. The Company's management plans to continue as a going concern revolves around its ability to achieve, as well as raise necessary capital to pay ongoing general and administrative expenses of the Company.

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CROWN MARKETING AND SUBSIDIARY - STATEMENTS OF INCOME (USD $)
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Mar. 31, 2012

Mar. 31, 2011

Mar. 31, 2012

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The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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-SubTopic 10

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Organization, Consolidation and Presentation of Financial Statements
3 Months Ended

Mar. 31, 2012

Organization, Consolidation and Presentation of Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]
NOTE 1 – NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (continued)

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents.

Estimates

The preparation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods. Actual results may differ from those estimates and such differences may be material to the financial statements. The more significant estimates and assumptions by management include among others, the fair value of shares issued for services. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions.

Fair Value Measurements

Fair value measurements are determined using authoritative guidance issued by the FASB, with the exception of the application of the guidance to non-recurring, non-financial assets and liabilities as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly.

Level 3—Unobservable inputs based on the Company's assumptions.

The Company is required to use observable market data if available without undue cost and effort.

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The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

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-Name Accounting Principles Board Opinion (APB)

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Earnings Per Share
3 Months Ended

Mar. 31, 2012

Earnings Per Share

Earnings Per Share [Text Block]
Loss Per Share

Basic loss per share has been computed using the weighted average number of common shares outstanding and issuable during the period. Diluted loss per share is computed based on the weighted average number of common shares and all common equivalent shares outstanding during the period in which they are dilutive. Common equivalent shares consist of shares issuable upon the exercise of stock options, warrants or other convertible securities such as convertible notes. As of March 31, 2012 and March 31, 2011, common stock equivalents were comprised of warrants exercisable into 2,400,000 shares of the Company’s common stock. For the nine and three months ended March 31, 2012 and 2011, and the period July 8, 2009 (inception) to March 31, 2012, common stock equivalent shares have been excluded from the calculation of loss per share as their effect is anti-dilutive.

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CROWN MARKETING AND SUBSIDIARY - CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2012	Jun. 30, 2011
ASSETS
Cash and cash equivalents	$ 132	$ 6,725
Total current assets	132	6,725
Total Assets	132	6,725
Notes payable	4,666
Accounts payable	5,406	5,815
Accounts payable related parties		3,809
Total current liabilities	10,105	9,624
Common stock	21,160	21,100
Retained earnings	(31,133)	23,999
Total Equity	(9,973)	(2,899)
TOTAL LIABILITIES AND EQUITY	$ 132	$ 6,725

CROWN MARKETING AND SUBSIDIARY - STATEMENTS OF INCOME (USD $)	3 Months Ended		9 Months Ended		15 Months Ended	33 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2011	Mar. 31, 2012
Sales			$ 4,500			$ 4,500
Cost of sales			456			456
Gross margin			4,044			4,044
Total operating expenses	4,417	310	11,145	20,175		35,144
Interest expense	(33)		(33)			(33)
Other (expense)/income, net			(33)			(33)
Net loss	$ 4,450	$ (310)	$ (7,134)	$ (20,175)	$ (20,175)	$ (31,133)
Basic and diluted-actual	4,346,760	4,335,883	4,346,760	4,335,883	4,335,883	4,346,760
Basic and diluted-actual per share	$ 0.00	$ 0.00	$ 0.00	$ 0.00		$ 0.00

Document and Entity Information (USD $)	3 Months Ended
Document and Entity Information (USD $)	Mar. 31, 2012
Document and Entity Information
Entity Registrant Name	CROWN MARKETING
Document Type	10-Q
Document Period End Date	Mar. 31, 2012
Amendment Flag	true
Amendment Description	to check shell box
Entity Central Index Key	0001098009
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding	4,346,760
Entity Public Float	$ 1,191,110
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3