Crona Corp. reported its financial results for the three and nine months ended September 30, 2024, revealing a continued lack of revenue generation, consistent with the previous fiscal period. The company reported revenues of $0 for both the three and nine months ended September 30, 2024, mirroring the same results from the prior year.

Total operating expenses for the three months ended September 30, 2024, were $10.4 million, a decrease from $15.2 million in the same period of 2023. The reduction in expenses was primarily attributed to lower professional fees and amortization costs. For the nine months ended September 30, 2024, total operating expenses were $44.0 million, significantly down from $156.7 million in the prior year. This decline was also driven by decreased professional fees and amortization expenses.

Crona Corp. reported a net loss of $16.2 million for the three months ended September 30, 2024, compared to a net loss of $17.5 million for the same period in 2023. For the nine months ended September 30, 2024, the net loss was $61.1 million, a substantial improvement from the $166.9 million loss reported in the previous year. The decrease in net loss reflects the company's efforts to reduce operating expenses.

As of September 30, 2024, total assets were reported at $46.4 million, down from $68.8 million as of December 31, 2023. Total liabilities increased to $299.7 million from $260.9 million in the previous fiscal period, resulting in a working capital deficit of $199.7 million. The accumulated deficit rose to $291.5 million, up from $230.4 million at the end of 2023.

Crona Corp. has undergone significant strategic changes, including a transition from antimicrobial surface protection services to the memorialization industry, focusing on cemetery and funeral products. The company plans to generate revenue through the sale of various funeral caskets and has established relationships for importing caskets from China.

The company has also experienced management changes, with Chris Brown taking over as President and CEO in December 2022. As of September 30, 2024, the company had no employees, with Brown dedicating approximately 20 hours per week to company matters. The company is currently seeking additional investment capital to fund its operations and plans to raise funds through capital markets.