Free Market Research Reports

 
 

August 27, 2008

Financials

Filed under: Business Plan — admin @ 1:12 am

13-Aug-2008

Quarterly Report

_______________________________________________________________________________________________________

MANAGEMENT’S DISCUSSION AND ANALYSIS

This report contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The Company’s actual results could differ materially from those set forth on the forward looking statements as a result of the risks set forth in the Company’s filings with the Securities and Exchange Commission, general economic conditions, and changes in the assumptions used in making such forward looking
statements.

OVERVIEW

Crown Equity Holdings Inc. (the “Company”) was incorporated on August 31, 1995 as “Visioneering Corporation” under the laws of the State of Nevada, to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions.

In 2007, the Company, though its wholly-owned subsidiary, Crown Trading Systems, Inc. (”CTS”), a Nevada corporation, began to develop, sell, and produce computer systems which are capable are running multiple monitors from one computer. At present, CTS is able to run 16 monitors off one CPU. In late, 2007, CTS began to attend trade shows and started selling these systems. For the six months ended June 30, 2008, CTS had gross revenues of approximately $11,121 from the sales of systems and the reseller distribution of computer components.

Additionally, CTS has entered into reseller and distribution agreements with over 30 wholesale and retail computer components to sell their products on CTS’s website, www.crowntradingsystems.com.



The Company is offering its services to companies or individuals looking to go public in the United States. It has launched a website, www.crownequityholdings.com, which offers its services in a wide range of fields.

The Company’s office is located at 9680 West Tropicana, Suite 117, Las Vegas, Nevada 89147.

As of June 30, 2008, the Company had no employees but was utilizing the services of independent contractors and consultants.

RESULTS OF OPERATIONS

A. Revenue

For the six months ended June 30, 2008 and 2007, we had revenues of $11,121 and $0, respectively, for a net loss of $169,477 and $42,401, respectively. During the three months period ending June 30, 2008 and 2007 the Company had revenue of $10,549 and zero with a net loss of $ 118,888 and $ 21,398, respectively.

B. General and Administrative Expense

General and administrative expense for the six months ended June 30, 2008 was $ 165,972 compared to $ 42,401 for the same period in 2007. During the three months period ending June 30, 2008 the Company incurred general and administrative expenses of $ 114,810 and $21,398, respectively. The increases are primarily attributable to the Company’s commencing operations as well as increases in legal and accounting fees.

C. Depreciation.

Depreciation for the three months and six months periods ended June 30, 2008 and 2007 was $6,345 and $ 12,690 in 2008 and zero in both periods in 2007. The depreciation is attributable to the fixtures and equipment owned by the Company.

D. Interest Expense.

The Company incurred interest charges of $950 during the three and six months ended June 30, 2008 and zero for the same periods in 2007, respectively.


The Company reported a net loss of $118,888 for the three months and $ 169,477 for the six months ended June 30, 2008 as compared to a net loss of $21,398 for the three months and $42,401 for the six months ended June 30, 2007. The higher loss was attributed to the higher general and administrative expense incurred in 2008 over 2007 as part of the start up of its present operations.



The Company will attempt to carry out its business plan as discussed above; however, it cannot predict to what extent its lack of liquidity and capital resources will hinder its business plan prior to the consummation of a business combination.

Operating Activities.

The net cash used in operating activities was $86,304 or the six months ended June 30, 2008 compared to net cash used of $22,030 for the six months ended June 30, 2007. The increase is due primarily to the larger loss in 2008 verses 2007.

Investing Activities.

Net cash used in investing activities was zero for the three months period ending June 30, 2008 and zero for the same period ending June 30, 2007.

Financing Activities.

Net cash provided by financing activities was $38,479 for the six month period ending June 30, 2008 and $22,021 for the same period ending June 30, 2007. Financing activities for the period ending June 30, 2008 were higher due to a combination of stock issued for debt and advances from related parties.



LIQUIDITY AND CAPITAL RESOURCES

At June 30, 2008, the Company had current assets of $15,131 and current liabilities of approximately $212,205, resulting in a working capital deficit of $197,074. Shareholders’ deficit as of June 30, 2008 was approximately $141,011. Further, there exist no agreements or understandings with regard to loan agreements by or with the Officers, Directors, principals, affiliates or shareholders of the Company.

 
 
 
 

August 26, 2008

DURABLE GENERAL POWER OF ATTORNEY

Filed under: Uncategorized — The Editor @ 4:23 am

DURABLE GENERAL POWER OF ATTORNEY
NEW YORK STATUTORY SHORT FORM

THE POWERS YOU GRANT BELOW CONTINUE TO BE EFFECTIVE
SHOULD YOU BECOME DISABLED OR INCOMPETENT

(CAUTION: THIS IS AN IMPORTANT DOCUMENT. IT GIVES THE PERSON WHOM YOU DESIGNATE (YOUR “AGENT”) BROAD POWERS TO HANDLE YOUR PROPERTY DURING YOUR LIFETIME, WHICH MAY INCLUDE POWERS TO MORTGAGE, SELL, OR OTHERWISE DISPOSE OF ANY REAL OR PERSONAL PROPERTY WITHOUT ADVANCE NOTICE TO YOU OR APPROVAL BY YOU. THESE POWERS WILL CONTINUE TO EXIST EVEN AFTER YOU BECOME DISABLED OR INCOMPETENT. THESE POWERS ARE EXPLAINED MORE FULLY IN NEW YORK GENERAL OBLIGATIONS LAW, ARTICLE 5, TITLE 15, SECTIONS 5-1502A THROUGH 5-1503, WHICH EXPRESSLY PERMIT THE USE OF ANY OTHER OR DIFFERENT FORM OF POWER OF ATTORNEY.

THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL OR OTHER HEALTH CARE DECISIONS. YOU MAY EXECUTE A HEALTH CARE PROXY TO DO THIS.

IF THERE IS ANYTHING ABOUT THIS FORM THAT YOU DO NOT UNDERSTAND, YOU SHOULD ASK A LAWYER TO EXPLAIN IT TO YOU.)

THIS is intended to constitute a DURABLE GENERAL POWER OF ATTORNEY pursuant to Article 5, Title 15 of the New York General Obligations Law:

I, _________________________________________________________________
(insert your name and address)
do hereby appoint:

_________________________________________________________________
(If 1 person is to be appointed agent, insert the name and address of your agent above)
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
(If 2 or more persons are to be appointed agents by you insert their names and addresses above)

my attorney(s)-in-fact TO ACT

(If more than one agent is designated, CHOOSE ONE of the following two choices by putting your initials in ONE of the blank spaces to the left of your choice:)

( ) Each agent may SEPARATELY act.
( ) All agents must act TOGETHER.

(If neither blank space is initialed, the agents will be required to act TOGETHER)

IN MY NAME, PLACE AND STEAD in any way which I myself could do, if I were personally present, with respect to the following matters as each of them is defined in Title 15 of Article 5 of the New York General Obligations Law to the extent that I am permitted by law to act through an agent:

(DIRECTIONS: Initial in the blank space to the left of your choice any one or more of the following lettered subdivisions as to which you WANT to give your agent authority. If the blank space to the left of any particular lettered subdivision is NOT initialed, NO AUTHORITY WILL BE GRANTED for matters that are included in that subdivision. Alternatively, the letter corresponding to each power you wish to grant may be written or typed on the blank line in subdivision “(Q)”, and you may then put your initials in the blank space to the left of subdivision “(Q)” in order to grant each of the powers so indicated)

( ) (A) real estate transactions;
( ) (B) chattel and goods transactions;
( ) (C) bond, share and commodity transactions;
( ) (D) banking transactions;
( ) (E) business operating transactions;
( ) (F) insurance transactions;
( ) (G) estate transactions;
( ) (H) claims and litigation;
( ) (I) personal relationships and affairs;
( ) (J) benefits from military service;
( ) (K) records, reports and statements;
( ) (L) retirement benefit transactions;
( ) (M) making gifts to my spouse, children and more remote descendants, and parents, not to exceed in the aggregate $10,000 to each of such persons in any year;
( ) (N) tax matters;
( ) (O) all other matters;
( ) (P) full and unqualified authority to my attorney(s)-in-fact to delegate any or all of the foregoing powers to any person or persons whom my attorney(s)-in-fact shall select;
( ) (Q) each of the above matters identified by the following letters:
_________________________________________________________________
(Special provisions and limitations may be included in the statutory short form durable power of attorney only if they conform to the requirements of section 5-1503 of the New York General Obligations Law.)
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________

This durable Power of Attorney shall not be affected by my subsequent disability or incompetence.

If every agent named above is unable or unwilling to serve, I appoint

_________________________________________________________________
(insert name and address of successor)

to be my agent for all purposes hereunder.

TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, I HEREBY AGREE THAT ANY THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF THIS INSTRU- MENT MAY ACT HEREUNDER, AND THAT REVOCATION OR TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL NOTICE OR KNOWLEDGE OF SUCH REVOCATION OR TERMINATION SHALL HAVE BEEN RECEIVED BY SUCH THIRD PARTY, AND I FOR MYSELF AND FOR MY HEIRS, EXECUTORS, LEGAL REPRESENTATIVES AND ASSIGNS, HEREBY AGREE TO INDEMNIFY AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD PARTY HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT.

THIS DURABLE GENERAL POWER OF ATTORNEY MAY BE REVOKED BY ME AT ANY TIME.

In Witness Whereof I have hereunto signed my name this ….. day of
_________________________, 20_____.

(YOU SIGN HERE:) ==> ____________________________________
(Signature of Principal)

ACKNOWLEDGEMENT

STATE OF NEW YORK
COUNTY OF __________________

On this ____ day of __________________, 20_____ before me the undersigned, personally appeared ,__________________________________, personally known to be or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person who acted on behalf of the individual, executed the instrument and that such individual made such appearance before the undersigned in the City of __________________, County of __________________, State of New York.

__________________________________
Notary

 

RESIGNATION

Filed under: Uncategorized — admin @ 4:21 am

RESIGNATION

Date: _________________, 20_____.

To:

Date:

Please be advised that the undersigned hereby tenders this resignation as __________________________, , effective immediately. Please acknowledge
receipt and acceptance of this resignation.

Thank you for your cooperation.

Very truly yours,

[NAME]
[ADDRESS]
The foregoing resignation is hereby accepted and is effective as of this ______ day of _________________, 20_____.

[COMPANY]

By: ___________________________________

 

DURABLE GENERAL POWER OF ATTORNEY EFFECTIVE AT A FUTURE TIME

Filed under: Uncategorized — The Editor @ 4:20 am

DURABLE GENERAL POWER OF ATTORNEY EFFECTIVE AT A FUTURE TIME
NEW YORK STATUTORY SHORT FORM

(CAUTION: THIS IS AN IMPORTANT DOCUMENT. IT GIVES THE PERSON WHOM YOU DESIGNATE (YOUR “AGENT”) BROAD POWERS TO HANDLE YOUR PROPERTY DURING YOUR LIFETIME, WHICH MAY INCLUDE POWERS TO MORTGAGE, SELL, OR OTHERWISE DISPOSE OF ANY REAL OR PERSONAL PROPERTY WITHOUT ADVANCE NOTICE TO YOU OR APPROVAL BY YOU. THESE POWERS MAY ONLY BE USED AFTER A CERTIFICATION THAT YOU HAVE BECOME DISABLED, INCAPACITATED, OR INCOMPETENT OR THAT SOME OTHER EVENT HAS OCCURRED. THESE POWERS ARE EXPLAINED MORE FULLY IN NEW YORK GENERAL OBLIGATIONS LAW, ARTICLE 5, TITLE 15, SECTIONS 5-1502A THROUGH 5-1506, WHICH EXPRESSLY PERMITS THE USE OF ANY OTHER OR DIFFERENT FORM OF POWER OF ATTORNEY.

THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL OR OTHER HEALTH CARE DECISIONS. YOU MAY EXECUTE A HEALTH CARE PROXY TO DO THIS.

IF THERE IS ANYTHING ABOUT THIS FORM THAT YOU DO NOT UNDERSTAND, YOU SHOULD ASK A LAWYER TO EXPLAIN IT TO YOU.)

THIS is intended to constitute a POWER OF ATTORNEY EFFECTIVE AT A FUTURE TIME pursuant to Article 5, Title 15 of the New York General Obligations Law:

I, _________________________________________________________________
_________________________________________________________________
(insert your name and address)

do hereby appoint:
_________________________________________________________________

(If 1 person is to be appointed agent, insert the name and address of your agent above)
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
(If 2 or more persons are to be appointed agents by you, insert their names and addresses above)

my attorney(s)-in-fact TO ACT

(If more than one agent is designated, CHOOSE ONE of the following two choices by putting your initials in ONE of the blank spaces

( ) to the left of your choice:)
( ) Each agent may SEPARATELY act.
( ) All agents must act TOGETHER.
(If neither blank space is initialed, the agents will be required to act TOGETHER)

TO TAKE EFFECT upon the occasion of the signing of a written statement EITHER:

(INSTRUCTIONS: COMPLETE OR OMIT SECTION (I) –OR– SECTION (II) BELOW BUT NEVER COMPLETE BOTH SECTIONS (I) AND (II) BELOW. IF YOU DO NOT COMPLETE EITHER SECTION (I) OR SECTION (II) BELOW, IT SHALL BE PRESUMED THAT YOU WANT THE PROVISIONS OF SECTION (I) BELOW TO APPLY)

(I) by a physician or physicians named herein by me at this point:
Dr. ______________________________________________________________
_________________________________________________________________
_________________________________________________________________
(Insert Full Name(s) and Address(es) of Certifying Physician(s) Chosen by You)

or if no physician or physicians are named hereinabove, or if the physician or physicians named hereinabove are unable to act, by my regular physician, or by a physician who has treated me within one year preced- ing the date of such signing, or by a licensed psychologist or psychia- trist, certifying that I am suffering from diminished capacity that would preclude me from conducting my affairs in a competent manner;

–OR–

(II) by a person or persons named herein by me at this point:
_________________________________________________________________
_________________________________________________________________
(Insert Full Name(s) and Address(es) of Certifying Person(s) Chosen by You)

CERTIFYING that the following specified event has occurred:
_________________________________________________________________
_________________________________________________________________
(Insert hereinabove the specified event the certification of which

will cause THIS POWER OF ATTORNEY to take effect)

IN MY NAME, PLACE AND STEAD in any way which I myself could do, if I were personally present, with respect to the following matters as each of them is defined in Title 15 of Article 5 of the New York General Obligations Law to the extent that I am permitted by law to act through an agent:

(DIRECTIONS: Initial in the blank space to the left of your choice any one or more of the following lettered subdivisions as to which you WANT to give your agent authority. If the blank space to the left of any particular lettered subdivision is NOT initialed, NO AUTHORITY WILL BE GRANTED for matters that are included in that subdivision. Alternatively, the letter corresponding to each power you wish to grant may be written or typed on the blank line in subdivision “(Q)”, and you may then put your initials in the blank space to the left of subdivision “(Q)” in order to grant each of the powers so indicated)

( ) (A) real estate transactions;
( ) (B) chattel and goods transactions;
( ) (C) bond, share and commodity transactions;
( ) (D) banking transactions;
( ) (E) business operating transactions;
( ) (F) insurance transactions;
( ) (G) estate transactions;
( ) (H) claims and litigation;
( ) (I) personal relationships and affairs;
( ) (J) benefits from military service;
( ) (K) records, reports and statements;
( ) (L) retirement benefit transactions;
( ) (M) making gifts to my spouse, children and more remote descendants, and parents, not to exceed in the aggregate $10,000 to each of such persons in any year;
( ) (N) tax matters;
( ) (O) all other matters;
( ) (P) full and unqualified authority to my attorney(s)-in-fact to delegate any or all of the foregoing powers to any person or persons whom my attorney(s)-in-fact shall select;
( ) (Q) each of the above matters identified by the following letters:
_________________________________________________________________

This durable Power of Attorney shall not be affected by my subsequent disability or incompetence.

(Special provisions and limitations may be included in the statutory short form power of attorney effective at a future time only if they conform to the requirements of section 5-1503 of the New York General Obligations Law.)
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________

If every agent named above is unable or unwilling to serve, I appoint

_________________________________________________________________
(insert name and address of successor)

to be my agent for all purposes hereunder.

TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, I HEREBY AGREE THAT ANY THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF THIS INSTRUMENT TOGETHER WITH A DULY EXECUTED COPY OR FACSIMILE OF THE WRITTEN STATEMENT OR STATEMENTS OF CERTIFICATION REQUIRED FOR THIS INSTRUMENT TO BE EFFECTIVE MAY ACT HEREUNDER, AND THAT THE SUSPENSION, REVOCATION OR TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY UNLESS AND UNTIL ACTUAL NOTICE OR KNOWLEDGE OF SUCH SUSPENSION, REVOCATION OR TERMINATION SHALL HAVE BEEN RECEIVED BY SUCH THIRD PARTY, AND I FOR MYSELF AND FOR MY HEIRS, EXECUTORS, LEGAL REPRESENTATIVES AND ASSIGNS, HEREBY AGREE TO INDEMNIFY AND HOLD HARMLESS ANY SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL CLAIMS THAT MAY ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD PARTY HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT.

THIS GENERAL POWER OF ATTORNEY EFFECTIVE AT A FUTURE TIME MAY BE REVOKED BY ME AT ANY TIME.

In Witness Whereof I have hereunto signed my name this _____ day of ______________________, 20_____.

(YOU SIGN HERE:) ==> __________________________________
(Signature of Principal)

ACKNOWLEDGEMENT

STATE OF NEW YORK
COUNTY OF __________________

On this ____ day of __________________, 20_____ before me the undersigned, personally appeared ,__________________________________, personally known to be or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person who acted on behalf of the individual, executed the instrument and that such individual made such appearance before the undersigned in the City of __________________, County of __________________, State of New York.

__________________________________
Notary

 

Release, (use of Photos/Recordings)

Filed under: Uncategorized — admin @ 4:19 am

RELEASE

For good and valuable consideration, the receipt of which is hereby
acknowledged, I hereby consent to the photographing of myself and the
recording of my voice and the use of these photographs and/or recordings
singularly or in conjunction with other photographs and/or recordings for
advertising, publicity, commercial or other business purposes. I
understand that the term “photograph” as used herein encompasses both
still photographs and motion picture footage.

I further consent to the reproduction and/or authorization by
___________________ to reproduce and use said photographs and recordings
of my voice, for use in all domestic and foreign markets. Further, I
understand that others, with or without the consent of ________________
may use and/or reproduce such photographs and recordings.

I hereby release _____________________, and any of its associated or
affiliated companies, their directors, officers, agents, employees and
customers, and appointed advertising agencies, their directors, officers,
agents and employees from all claims of every kind on account of such
use.

________________________
[Signature]

 
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