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Note 1 - Nature of Business and Significant Accounting Policies
9 Months Ended
Mar. 31, 2015
Notes  
Note 1 - Nature of Business and Significant Accounting Policies

NOTE 1 – NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

The Company

Crown Marketing is a Wyoming corporation (the "Company").  Pursuant to an Agreement and Plan of Reorganization dated December 2, 2013, the Company acquired all of the common stock of Okra Energy, Inc., a California corporation that was subscribed for on December 2, 2013 and then incorporated on December 18, 2013, in exchange for 16,155,746,000 shares of Common Stock of the Company (the "Common Stock") at the closing of the Agreement on December 3, 2013.  Immediately prior to the closing, there were approximately 3,825,275,800 shares of Common Stock outstanding.  After the closing, the beneficial owner of Okra Energy, Inc. shareholder, Jay Hooper, owned approximately 98.8% of the outstanding shares of common stock of the Company.  The transaction was accounted for as a reverse merger (recapitalization) with Okra Energy, Inc. 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.  The Company subsequently changed its name from Crown Marketing to Okra, Inc., but later changed the name of the Company back to Crown Marketing.   

 

Concurrently with the merger, Jay Hooper was appointed as the sole director and President of the Company.  

 

The Company is engaged in the business of operating a warehouse building in Rosemead, California, which is owned by a single member limited liability company owned by Jay Hooper, and in acquiring commercial properties, with a focus on properties in Los Angeles County in need of environmental remediation.  

 

The Company continues to expand its business activities. In January 2015, the Company’s 100% owned subsidiary, Crown Laboratory Inc., was formed to develop and market Chinese and other herbal remedies.  Initial capitalization of $10,000 was provided by a loan from an entity controlled by the Company’s President. The loan is due on demand and bears interest at 4%. We expect to require additional funding for this business segment and have already commenced obtaining FDA approval for our products.  

 

In March 2015, the Company 50% owned subsidiary, Crown Mobile, was formed.  Crown Mobile is a MVNO (mobile virtual network operator) and markets Crown Mobile prepaid mobile telephone service using T-Mobile’s wireless network. Crown Mobile intends to offer ancillary services such as a proprietary debit card.  At March 31, 2015, the Company has a controlling financial interest in Crown Mobile.