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Note 1 - Basis of Presentation
6 Months Ended
Dec. 31, 2016
Notes  
Note 1 - Basis of Presentation

NOTE 1 – BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements of Crown Marketing and Subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included.  Operating results for the six months ended December 31, 2016 are not necessarily indicative of the results that may be expected for the year ending June 30, 2017. 

 

Nature of the Business

 

Through December 31, 2016, the Company’s primary business activity was the sale of various consumer products and accessories. On January 19, 2017, the Company’s majority shareholder sold his shares to an investor group and the Company ceased its operations. Going forward, the Company’s operations will be determined by the new investor group. As such, the Company has accounted for all of its assets, liabilities and results of operations as discontinued operations as of December 31, 2016.