UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, ~~2020~~2021

☐	TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE EXCHANGE ACT OF 1934

For the transition period from ___________ to ____________

Commission File Number 000-29935

CROWN EQUITY HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Nevada		33-0677140
(~~Exact name~~State or other jurisdiction of ~~registrant as specified in its charter)~~

~~Nevada~~incorporation or organization)

~~33-0677140~~

~~(State or other jurisdiction of~~

~~incorporation or organization)~~

(IRS Employer

Identification No.)

11226 Pentland Downs Street, Las Vegas, NV 89141

(Address of principal executive offices)

(702) 683-8946

(Issuer’s telephone number)

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

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of ~~"large~~“large accelerated ~~filer"~~filer”, ~~"accelerated filer"~~“accelerated filer”, ~~"smaller~~“smaller reporting ~~company"~~company”, and ~~"emerging~~“emerging growth ~~company"~~company” in Rule 12b-2of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

As of November ~~19, 2020,~~05, 2021, the number of shares outstanding of the registrant’s class of common stock was ~~12,901,753.~~13,318,642.

TABLE OF CONTENTS

		Page
PART I: FINANCIAL INFORMATION		3

Item 1.	Financial Statements (Unaudited)	4
	Condensed Consolidated Balance Sheets as of September 30, ~~2020~~2021 (Unaudited) and December 31, ~~2019~~2020 (Audited)	4
	Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, ~~2020~~2021 and ~~2019~~2020 (Unaudited)	5
	Condensed Consolidated Statements of Changes in Stockholders’ Deficit for the Three and Nine Months Ended September 30, ~~2020~~2021 and ~~2019~~2020 (Unaudited)	6
	Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, ~~2020~~2021 and ~~2019~~2020 (Unaudited)	8
	Notes to Condensed Consolidated Financial Statements (Unaudited)	9

Item 2.	Management’s Discussion and Analysis and Plan of Operation	2426

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	2528

Item 4T.	Controls and Procedures	2528

PART II: OTHER INFORMATION		26

Item 1.	Legal Proceedings	2629

Item 1A.	Risk Factors	2629

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	2629

Item 3.	Defaults upon Senior Securities	2629

Item 4.	Mine Safety Information	2629

Item 5.	Other Information	2629

Item 6.	Exhibits	2730

Signatures		2831

Table of Contents

PART I. FINANCIAL INFORMATION

DEFINITIONS

In this Quarterly Report on Form 10-Q, the words “Crown Equity”, the “Company”, the “Registrant”, “we”, “our”, “ours” and “us” refer to Crown Equity Holdings, Inc.

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q includes certain statements that may be deemed “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, all of which are based upon various estimates and assumptions that the Company believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “seek,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause the Company’s actual future outcomes to differ materially from those set forth in such statements. Such risks and uncertainties include, but are not limited to:

	·•	the possibility that certain tax benefits of our net operating losses may be restricted or reduced in a change in ownership or a further change in the federal tax rate;

	·•	the inability to carry out plans and strategies as expected

	·•	limitations on the availability of sufficient credit or cash flow to fund our working capital needs and capital expenditures and debt service;

	·•	difficulty in fulfilling the terms of our convertible note payables, which could result in a default and acceleration of our indebtedness under our convertible note payables;

	·•	the possibility that we issue additional shares of common stock or convertible securities that will dilute the percentage ownership interest of existing stockholders and may dilute the book value per share of our common stock;

	·•	the relatively low trading volume of our common stock, which could depress our stock price;

	·•	competition in the industries in which we operate, both from third parties and former employees, which could result in the loss of one or more customers or lead to lower margins on new projects;

	·•	a general reduction in the demand for our services;

	·•	our ability to enter into, and the terms of, future contracts;

	·•	uncertainties inherent in estimating future operating results, including revenues, operating income or cash flow;

	·•	complications associated with the incorporation of new accounting, control and operating procedures;

	·•	the recognition of tax benefits related to uncertain tax positions;

You should understand that the foregoing, as well as other risk factors discussed in this document and in Part I, of our Annual Report on Form 10-K for the fiscal year ended December 31, ~~2019,~~2020, could cause future outcomes to differ materially from those experienced previously or those expressed in such forward-looking statements. We undertake no obligation to publicly update or revise any information, including information concerning our controlling shareholder, net operating losses, borrowing availability or cash position, or any forward-looking statements to reflect events or circumstances that may arise after the date of this report. Forward-looking statements are provided in this Quarterly Report on Form 10-Q pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of the estimates, assumptions, uncertainties, and risks described herein.

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~~CROWN EQUITY HOLDINGS INC.~~Crown Equity Holdings Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

		Sep 30, 2020			Dec 31, 2019
		(Unaudited)							Sept 30, 2021			Dec 31, 2020
									(Unaudited)
Assets	Assets							Assets
Current assets
Cash		$	19,364		$	997			$	3,178		$	3,047
Brokerage Account		$	167,389		$	-
Brokerage account										125,000			180,587
Total Current Assets			186,753			997				128,178			183,634
Property and Equipment, net			4,780			28,882
Property and equipment, net										10,021			15,505
Total Assets		$	191,533		$	29,879			$	138,199		$	199,139

Liabilities and Stockholders’ Deficit	Liabilities and Stockholders’ Deficit							Liabilities and Stockholders’ Deficit
Current liabilities
Accounts payable and accrued expenses		$	143,227		$	210,223			$	140,029		$	137,793
Accounts payable and accrued expenses to related party			343,296			80,664				734,940			444,246
Convertible notes payable to related parties, net of discount			6,000			760				30,049			11,333
Deferred Revenue – related party			15,583			-
Convertible notes payable, net of discount										0			5,508
Note payable to related party										6,578			0
Finance lease obligation, current			28,393			30,681				23,276			29,010
Total Current Liabilities		$	536,499		$	322,328			$	934,872		$	627,890

Non-Current liabilities
Finance lease obligation, non-current			14,505			25,976
EIDL Loan			4,000			-
Long-term debt										4,477			15,045
Total Liabilities		$	555,004		$	348,304			$	939,349		$	642,935

Stockholders’ deficit
Preferred Stock, 20,000,000 shares authorized, authorized at $0.001 par value, none issued or outstanding			-			-				0			0
Series A Convertible Preferred Stock, $0.001 par value, 1,000 shares authorized, 1,000 issued and outstanding			1			1				1			1
Common Stock, 450,000,000 authorized at $0.001 par value; 12,898,753 and 11,766,766 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively			12,899			11,766
Common Stock, 450,000,000 authorized at $0.001 par value; 12,918,642 and 12,901,753 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively										12,918			12,902
Stock Payable			750			43,764				0			3,000
Additional paid-in capital			12,503,340			11,418,103				12,530,390			12,506,375
Accumulated deficit			(12,880,461	)		(11,792,059	)			(13,344,459	)		(12,966,074	)

Total stockholders’ deficit			(363,471	)		(318,425	)			(801,150	)		(443,796	)
Total liabilities and stockholders’ deficit		$	191,533		$	29,879			$	138,199		$	199,139

The accompanying notes are an integral part of these unaudited Condensed ~~Consolidated~~ Financial Statements.

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~~CROWN EQUITY HOLDINGS, INC.~~Crown Equity Holdings, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months Ended						Nine Months Ended						Three Months Ended						Nine Months Ended
	Sep 30,						Sep 30,						Sept 30,						Sept 30,
	2020			2019			2020			2019			2021			2020			2021			2020

Revenue	$	210		$	419		$	1,287		$	3,464		$	228		$	210		$	4,903		$	1,287
Revenue – related party		1,667			-			1,667			50,000			2,833			1,667			10,483			1,667
Total Revenue		1,877			419			2,954			53,464			3,061			1,877			15,386			2,954

Operating expenses
Depreciation		8,035			8,056			24,102			23,612			1,828			8,035			5,484			24,102
General and Administrative		137,008			41,973			493,438			108,701			122,154			137,008			382,913			493,438
Total Operating Expenses		145,043			50,029			517,540			132,313			123,982			145,043			388,397			517,540
Net Operating Income (Loss)		(143,166	)		(49,610	)		(514,586	)		(78,849	)		(120,921	)		(143,166	)		(373,011	)		(514,586	)

Other (expense)
Interest expense		(5,164	)		(3,644	)		(11,871	)		(12,291	)		(2,216	)		(5,164	)		(5,466	)		(11,871	)
Investment expense		(17,000	)		-			(17,000	)		-
Amortization of beneficial conversion feature		-			-			-			(38,920	)
Loss on Stock Held		(2,611	)		-			(2,611	)		-
Gain on Forgiveness of Debt														0			0			4,101			0
Debt Discount Amortization														(3,881	)		0			(14,805	)		0
Gain (Loss) on Stocks Held														(14,000	)		0			11,548			0
Other Income (Expense)														0			(2,611	)		(752	)		(2,611	)
Investment Expense														0			(17,000	)		0			(17,000	)
Loss on AP Settlement – related party		-			-			(542,334	)		-			0			0			0			(542,334	)
Total other (expense)		(24,775	)		(3,644	)		(573,816	)		(51,211	)
Total other expense														(20,097	)		(24,775	)		(5,374	)		(573,816	)
Net (loss)	$	(167,941	)	$	(53,254	)	$	(1,088,402	)	$	(130,060	)	$	(141,018	)	$	(167,941	)	$	(378,385	)	$	(1,088,402	)

Net (loss) per common share – basic and diluted	$	(0.01	)	$	(0.00	)	$	(0.09	)	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.03	)	$	(0.09	)
Weighted average number of common shares outstanding - basic and diluted		12,606,731			11,973,418			12,269,852			11,909,339			12,918,642			12,606,731			12,915,701			12,269,852

The accompanying notes are an integral part of these unaudited Condensed ~~Consolidated~~ Financial Statements.

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CROWN EQUITY HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

(Unaudited)

For the Three Months Ended September 30, 2021

	Preferred Stock				Common Stock				Common Stock		Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Payable		Capital		Deficit			(Deficit)

Balances at June 30, 2021		1,000	$	1		12,918,642	$	12,918	$	0	$	12,530,390	$	(13,203,441	)	$	(660,132	)
Net loss		-		0		-		0		0		0		(141,018	)		(141,018	)
Balances at September 30, 2021		1,000	$	1		12,918,642	$	12,918	$	0	$	12,530,390	$	(13,344,459	)	$	(801,150	)

For the Nine Months Ended September 30, 2021

	Preferred Stock				Common Stock				Common Stock			Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Payable			Capital		Deficit			(Deficit)

Balances at December 31, 2020		1,000	$	1		12,901,753	$	12,902	$	3,000		$	12,506,375	$	(12,966,074	)	$	(443,796	)
Common Stock Issued for Common Stock Payable		-		0		1,286	$	1	$	750		$	2,249	$	0		$	3,000
Settlement of AP for Common Stock		-		0		11,504	$	11	$	0		$	17,245	$	0		$	17,256
Common Stock Issued for services		-		0		4,099	$	4	$	(3,750	)	$	4,496	$	0		$	750
Warrant Subscription		-		0		-	$	0	$	0		$	25	$	0		$	25
Net loss		-		0		-		0		0			0		(378,385	)		(378,385	)
Balances at September 30, 2021		1,000	$	1		12,918,642	$	12,918	$	0		$	12,530,390	$	(13,344,459	)	$	(801,150	)

Table of Contents

For the Three Months Ended September 30, 2020

	Preferred Stock				Common Stock				Common Stock		Additional Paid-In		Accumulated			Total Stockholders'			Preferred Stock				Common Stock				Common Stock		Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Payable		Capital		Deficit			(Deficit)			Shares		Amount		Shares		Amount		Payable		Capital		Deficit			(Deficit)

Balances at June 30, 2020		1,000	$	1		12,424,870	$	12,423	$	-	$	12,240,785	$	(12,712,520	)	$	(459,311	)		1,000	$	1		12,424,870	$	12,423	$	-	$	12,240,785	$	(12,712,520	)	$	(459,311	)
Common Stock issued for cash		-		-		412,000	$	412	$	-	$	213,088	$	-		$	213,500			-		-		412,000	$	412	$	0	$	213,088	$	-		$	213,500
Common Stock for services – Third Party		-		-		334	$	1	$	750	$	1,499		-		$	2,250			-		0		334	$	1	$	750	$	1,499		0		$	2,250
Common Stock for services – Related Party		-		-		1,390	$	1	$	-	$	6,251	$	-		$	6,252			-		0		1,390	$	1	$	0	$	6,251	$	0		$	6,252
Debt conversion																				-		0		36,984	$	37	$	0	$	18,455	$	0		$	18,492
Shares for prepayment of interest on NP – related party																				-		0		23,175	$	25	$	0	$	23,150	$	0		$	23,175
Warrant Subscriptions		-		-		-	$	-	$	-	$	112	$	-		$	112			-		0		-	$	0	$	0	$	112	$	0		$	112
Debt Conversion		-		-		36,984	$	37	$	-	$	18,455	$	-		$	18,492
Shares for prepayment of interest on NP-Related Party		-		-		23,175	$	25	$	-	$	23,150	$	-		$	23,175
Net loss		-		-		-		-		-		-		(167,941	)		(167,941	)		-		0		-		0		0		0		(167,941	)		(167,941	)
Balances at September 30, 2020		1,000	$	1		12,898,753	$	12,899	$	750	$	12,503,340	$	(12,880,461	)	$	(363,471	)		1,000	$	1		12,898,753	$	12,899	$	750	$	12,503,340	$	(12,880,461	)	$	(363,471	)

For the Nine Months Ended September 30, 2020

	Preferred Stock				Common Stock				Common Stock			Additional Paid-In		Accumulated			Total Stockholders'			Preferred Stock				Common Stock				Common Stock			Additional Paid-In		Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Payable			Capital		Deficit			(Deficit)			Shares		Amount		Shares		Amount		Payable			Capital		Deficit			(Deficit)

Balances at December 31, 2019		1,000	$	1		11,766,766	$	11,766	$	43,764		$	11,418,103	$	(11,792,059	)	$	(318,425	)		1,000	$	1		11,766,766	$	11,766	$	43,764		$	11,418,103	$	(11,792,059	)	$	(318,425	)
Common Stock issued for cash		-		-		472,000	$	472	$	-		$	243,028	$	-		$	243,500			-		-		472,000	$	472	$	-		$	243,028	$	-		$	243,500
Common Stock for services – Third Party		-		-		4,834		4	$	750		$	5,995		-		$	6,749			-		-		4,834		4	$	750		$	5,995		-		$	6,749
Common Stock for services – related party		-		-		156,061	$	156	$	(43,764	)	$	62,365	$	-		$	18,757			-		0		156,061	$	156	$	(43,764	)	$	62,365	$	0		$	18,757
Officer Compensation		-		-		160,000	$	160	$	-		$	79,840	$	-		$	80,000			-		0		160,000	$	160	$	0		$	79,840	$	0		$	80,000
Settlement of AP – Third Party		-		-		74,000	$	74	$	-		$	36,926	$	-		$	37,000			-		0		74,000	$	74	$	0		$	36,926	$	0		$	37,000
Settlement of AP – Related Party		-		-		204,933	$	205	$	-		$	63,819	$	-		$	64,024			-		0		204,933	$	205	$	0		$	63,819	$	-		$	64,024
Warrant Subscriptions		-		-		-	$	-	$	-		$	472	$	-		$	472			-		0		-	$	0	$	0		$	472	$	0		$	472
Loss on AP Settlement – Third Party		-		-		-	$	-	$	-		$	117,000	$	-		$	117,000			-		0		-	$	0	$	0		$	117,000	$	0		$	117,000
Loss on AP Settlement – Related Party		-		-		-	$	-	$	-		$	426,987	$	-		$	426,987			-		0		-	$	0	$	0		$	426,987	$	0		$	426,987
Forgiveness of AP by CEO		-		-		-	$	-	$	-		$	7,200	$	-		$	7,200			-		0		-	$	0	$	0		$	7,200	$	0		$	7,200
Debt Converstion		-		-		36,984	$	37	$	-		$18,455		$	-		$	18,492
Shares for prepayment of interest on NP-Related Party		-		-		23,175	$	25	$	-		$	23,150		-		$	23,175
Debt conversion																					-		0		36,984	$	37	$	0		$	18,455	$	0		$	18,492
Shares for prepayment of interest on NP – related party																					-		0		23,175	$	25	$	0		$	23,150	$	0		$	23,175
Net loss		-		-		-		-		-			-		(1,088,402	)		(1,088,402	)		-		0		-		0		0			0		(1,088,402	)		(1,088,402	)
Balances at September 30, 2020		1,000	$	1		12,898,753	$	12,899	$	750		$	12,503,340	$	(12,880,461	)	$	(363,471	)		1,000	$	1		12,898,753	$	12,899	$	750		$	12,503,340	$	(12,880,461	)	$	(363,471	)

The accompanying notes are an integral part of these unaudited Condensed ~~Consolidated~~ Financial Statements.

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~~For the Three Months Ended September 30, 2019~~CROWN EQUITY HOLDINGS, INC.

Preferred Stock

Common Stock

Common
Stock

Additional
Paid-In

Accumulated

Total
Stockholders'

Shares

Amount

Shares

Amount

Payable

Capital

Deficit

(Deficit)

Balances at June 30, 2019

1,000

$ 1

11,952,766

$ 11,952

$ 51,260

$ 11,360,917

$ (11,715,839 )

$ (291,709 )
Common stock issued for cash

-

-

100,000

$ 100

$ (20,000 )

$ 49,900

$ -

$ 30,000

Common Stock Subscribed for services

-

-

-

$ -

$ 6,252

$ -

$ -

$ 6,252

Net loss

-

-

-

-

-

-

(53,254 )

(53,254 )
Balances at Sept 30, 2019

1,000

$ 1

12,052,766

$ 12,052

$ 37,512

$ 11,410,817

$ (11,769,093 )

$ (308,711 )

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

~~For the Nine Months Ended September 30, 2019~~(Unaudited)

Preferred Stock

Common Stock

Common
Stock

Additional
Paid-In

Accumulated

Total
Stockholders'

Shares

Amount

Shares

Amount

Payable

Capital

Deficit

(Deficit)

Balances at December 31, 2018

1,000

$ 1

11,823,389

$ 11,823

$ 18,756

$ 11,279,211

$ (11,639,033 )

$ (329,242 )
Notes Payable and Accrued Interest Converted to Common Stock

-

-

113,377

$ 113

$ -

$ 56,782

$ -

$ 56,895

Common stock issued for cash

-

-

116,000

$ 116

$ -

$ 87,844

$ -

$ 57,960

Common Stock Subscribed for services

-

-

-

$ -

$ 18,756

$ -

$ -

$ 18,756

Forgiveness of Interest – Related Party

-

-

-

$ -

$ -

$ 9,282

$ -

$ 9,282

Compensation Expense

-

-

-

$ -

$ -

$ 7,698

$ -

$ 7,698

Net loss

-

-

-

-

-

-

(130,060 )

(130,060 )
Balances at Sept 30, 2019

1,000

$ 1

12,052,766

$ 12,052

$ 37,512

$ 11,410,817

$ (11,769,093 )

$ (308,711 )

	Nine months Ended
	Sept 30,
	2021			2020
Cash flows from operating activities
Net loss	$	(378,385	)	$	(1,088,402	)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services		-			24,756
Common stock issued for Settlement of Board Member Compensation		0			80,000
Depreciation		5,484			24,102
Gain/loss on brokerage account		(11,548	)		2,611
Loss on investment		752			17,000
Loss on AP Settlement		0			543,987
Debt Discount Amortization		14,805			0
Gain on Forgiveness of Debt		(4,101	)		0
Changes in operating assets and liabilities:
Cash transfer		66,383
Deferred revenue		(11,333	)		(1,417	)
Accounts payable and accrued expenses – related party		290,694			262,632
Accounts payable and accrued expenses		19,694			59,720
Net cash (used in) operating activities		(7,555	)		(75,011	)

Cash used in investing activities
Cash paid to brokerage account		0			(170,000	)
		0			(170,000	)

Cash flows from financing activities
Payments on convertible notes payable, related party		0			(5,260	)
Borrowings on notes payable, related party		9,333			0
Borrowings from convertible notes payable, related party		19,306			33,675
Proceeds from Sale of Stock		0			243,500
Proceeds from EIDL loan		0			4,000
Principal Payments on conv. debt related party		(9,671	)		0
Principal payments on debt		(15,057	)		(13,759	)
Shares subscribed for cash		3,750			750
Warrant Subscriptions		25			472
Net cash provided by financing activities		7,686			263,378

Net increase (decrease) in cash		131			18,367
Cash, beginning of period		3,047			997
Cash, end of period	$	3,178		$	19,364

Supplemental disclosure of cash flow information
Interest paid	$	5,466		$	11,871
Income taxes paid		0			0

Non-Cash Transactions
Forgiveness of AP by CEO	$	0		$	7,200
Debt converted to common stock		0			18,489
Convertible debt for payment of AP		0			17,633
RP-AP Converted into common stock		17,256			64,024
AP Converted into common stock – Third Party					37,000
Shares issued for stock payable		6,750			43,764
Stock for related party deferred revenue		0			17,000
Stock issued for prepayment of interest on debt – related party		0			23,175

The accompanying notes are an integral part of these unaudited Condensed ~~Consolidated~~ Financial Statements.

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CROWN EQUITY HOLDINGS, INC.

~~CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS~~

~~(Unaudited)~~

Nine months Ended

September 30,

2020

2019

Cash flows from operating activities

Net loss

$ (1,088,402 )

$ (130,060 )
Adjustments to reconcile net loss to net cash used in operating activities:

Common stock issued for services

24,756

26,454

Common stock issued for Settlement of Board Member Compensation

80,000

-

Depreciation

24,102

23,612

Loss on brokerage account

2,611

-

Loss on investment

17,000

-

Loss on AP settlement

543,987

-

Amortization of beneficial conversion feature

-

38,920

Changes in operating assets and liabilities:

Deferred revenue – related party

(1,417 )

(50,000 )
Accounts payable and accrued expenses – related party

262,632

26,430

Accounts payable and accrued expenses

59,720

14,329

Net cash (used in) operating activities

(75,011 )

(50,315 )

Cash used in investing activities

Cash paid to brokerage account

(170,000 )

-

Net cash (used in) investing activities

(170,000 )

-

Cash flows from financing activities

Payments on convertible notes payable, related party

(5,260 )

(3,011 )
Borrowings from convertible notes payable, related party

33,675

-

Proceeds from Sale of Stock

243,500

57,960

Proceeds from EIDL loan

4,000

-

Principal payments on debt

(13,759 )

(10,604 )
Warrant Subscriptions

472

-

Shares subscribed for cash

750

-

Net cash provided by financing activities

263,378

44,345

Net increase (decrease) in cash

18,367

(5,970 )
Cash, beginning of period

997

13,294

Cash, end of period

$ 19,364

$ 7,324

Supplemental disclosure of cash flow information

Interest paid

$ 11,871

$ 7,905

Income taxes paid

-

-

Non-Cash Transactions

Forgiveness of AP by CEO

$ 7,200

$ -

Forgiveness of Interest – Related Party

-

9,282

Purchase of fixed assets through finance lease

-

9,985

Debt converted to common stock

18,489

56,895

Convertible debt for payment of AP

17,633

-

RP-AP Converted into common stock

64,024

-

AP Converted into common stock – Third Party

37,000

-

Shares issued for stock payable

43,764

-

Stock for related party deferred revenue

17,000

-

Stock issued for prepayment of interest on debt – related party

23,175

-

~~The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.~~

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~~CROWN EQUITY HOLDINGS, INC.~~

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 – NATURE OF BUSINESS AND SUMMARY OF ACCOUNTING POLICIES

Nature of Business

Crown Equity Holdings Inc. ("(“Crown ~~Equity"~~Equity” or the ~~"Company"~~“Company”) was incorporated in August 1995 in Nevada. The Company offers through its digital network of websites, advertising branding, marketing solutions and other services to boost customer awareness, as well as merchant visibility as a worldwide online multi-media publisher. The Company focuses on the distribution of information for the purpose of bringing together its audience with the advertisers that want to reach them. Its advertising services cover and connect a range of marketing specialties, as well as provide search engine optimization for clients interested in online media awareness. Crown Equity ~~Holdings'~~Holdings’ objective is making its endeavor known as CRWE WORLD into a global online news and information source, as well as a global one stop shop for various distinct products and services. The Company also offers services to companies seeking to become public entities in the United States, as well as providing various consulting services to companies and individuals dealing with corporate structure and operations globally.

On January 27, 2020, the Company re-acquired from AVOT the online business iB2BGlobal.com and since company had not received the shares promised during the original sale.

Basis of Preparation

The accompanying financial statements include the financial information of Crown Equity Holdings Inc. (“Crown Equity”, the “Company”) have been prepared in accordance with the instructions to financial reporting as prescribed by the Securities and Exchange Commission (the “SEC”). The preparation of these financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles (“GAAP”). In the opinion of management, the financial statements contained in this report include all known accruals and adjustments necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods reported herein.

Reclassifications

Certain prior period amounts have been reclassified to conform to current period presentation.

Adoption of New Accounting Standard

In February 2016, the FASB issued ASU 2016-02 “Leases”, which is codified in ASC 842 “Leases” and supersedes current lease guidance in ASC 840. These provisions require lessees to put a right-of-use asset and lease liability on their balance sheet for operating and financing leases that have a term of more than one year. Expense will be recognized in the income statement similar to current accounting guidance. For lessors, the ASU modifies the classification criteria and the accounting for sales-type and direct financing leases. Entities will need to disclose qualitative and quantitative information about their leases, including characteristics and amounts recognized in the financial statements. These provisions are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We adopted the provisions on January 1, 2019, including interim periods subsequent to the date of adoption. Entities are required to use a modified retrospective approach upon adoption to recognize and measure leases at the beginning of the earliest comparative period presented in the financial statements. Since all the leases were finance leases, there was no effect on the financial statements when ASC 842 was adopted.

In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation, to simplify the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments for employees, with certain exceptions. Under the new guidance, the cost for nonemployee awards may be lower and less volatile than under current US GAAP because the measurement generally will occur earlier and will be fixed at the grant date. This update is effective for annual financial reporting periods, and interim periods within those annual periods, beginning after December 15, 2018, although early adoption is permitted. The Company adopted the standard effective January 1, 2019 and found the adoption did not have a material effect on our financial statements.

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Crown Equity does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

Accounting Standards not yet Adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for us in our first quarter of fiscal 2023, and earlier adoption is permitted. We are currently evaluating the impact of our pending adoption of ASU 2016-13 on our financial statements.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are primarily used in our revenue recognition, long-lived asset impairments and adjustments, deferred tax, stock-based compensation, and reserves for legal matters.

Cash and Cash Equivalents

Crown Equity considers all highly liquid investments purchased with an original maturity of three months or less to be cash and cash equivalents.

Stock-Based Compensation

The Company accounts for stock-based compensation to employees in accordance with ASC 718 requiring employee equity awards to be accounted for under the fair value method. Accordingly, share-based compensation is measured at grant date, based on the fair value of the award and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of share-based payments using the Black-Scholes option-pricing model for common stock options and the closing price of the ~~company's~~company’s common stock for common share issuances.

Revenue Recognition

~~The core principles of revenue recognition under ASC 606 include the following five criteria:~~

The core principles of revenue recognition under ASC 606 include the following five criteria:

	1.	Identify the contract with the customer

		Contract with our customers may be oral, written, or implied. A written and signed invoice stating the terms and conditions is the Company’ preferred method. The terms of a written contract may be contained within the body of an invoice or in an email. No work is commenced without an understanding between the Company and our client that a valid contract exists.

	2.	Identify the performance obligations in the contract

		~~Contract with our customers~~Our sales and account management teams define the scope of services to be offered, to ensure all parties are in agreement and obligations are being delivered to the customer as promised. The performance obligation may not be fully identified in a mutually signed contract, but may be ~~oral, written,~~outlined in email correspondence, face-to-face meetings, additional proposals or ~~implied. A written and signed invoice stating the terms and conditions is the Company’ preferred method. The terms~~scopes of ~~a written contract may be contained within the body of an invoice~~work, or ~~in an email. No work is commenced without an understanding between the Company and our client that a valid contract exists.~~phone conversations.

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	2.3.	~~Identify~~Determine the transaction price

		Pricing is discussed and identified by the operations team prior to submitting an invoice to the customer.

	4.	Allocate the transaction price to the performance obligations in the contract

		~~Our sales and account management teams define~~If a contract involves multiple obligations, the ~~scope of services to be offered, to ensure all parties are in agreement and obligations are being delivered to~~transaction pricing is allocated accordingly, during the ~~customer as promised. The~~ performance obligation ~~may not be fully identified in a mutually signed contract, but may be outlined in email correspondence, face-to-face meetings, additional proposals or scopes of work, or phone conversations.~~phase.

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	3.	~~Determine the transaction price~~

		~~Pricing is discussed and identified by the operations team prior to submitting an invoice to the customer.~~

	4.	~~Allocate the transaction price to the performance obligations in the contract~~

		~~If a contract involves multiple obligations, the transaction pricing is allocated accordingly, during the performance obligation phase.~~

Recognize revenue when (or as) we satisfy a performance obligation

The Company uses digital marketing that includes digital advertising, SEO management and digital ad support. We provide whether presenting a vibrant but simple message about our clients that will enlighten their audience or deploying an influential digital marketing campaign on our online site or across one or multiple social media platforms. Revenue is recognized when ads are run on Company’s advertising platform.

The company generates analytical reports monthly or as required to show how the ad dollars were spent and how the targeting resulted in click-through. The report satisfies the performance obligation, regardless of the outcome or effectiveness of the campaign.

Sales are recognized when promised services are started in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. Sales for service contracts generally are recognized as the services are being provided.

	Nine Months Ended Sep 30, 2020								Nine Months Ended Sep 30, 2019				Nine Months Ended Sep 30, 2021						Nine Months Ended Sep 30, 2020
	Third Party		Related Party		Total		Third Party		Related Party		Total		Third Party		Related Party		Total		Third Party		Related Party		Total
Advertising	$	-	$	1,275	$	1,275	$	2,000	$	50,000	$	52,000	$	0	$	10,200	$	10,200	$	0	$	1,275	$	1,275
Click Based and Impressions Ads		332		-		332		614		-		614		243		0		243		332		0		332
Domain Registrations		-		-		-		10		-		10		0		0		0		0		0		0
Publishing and Distribution		955		392		1,347		840		-		840		4,660		283		4,943		955		392		1,347
Server		-		-		-		-		-		-		0		0		0		0		0		0
	$	1,287	$	1,667	$	2,954	$	3,464	$	50,000	$	53,464	$	4,903	$	10,483	$	15,386	$	1,287	$	1,667	$	2,954

Revenue is based on providing through the Company’s server services, Managed Information Technology, 24/7 support, which includes designing, developing, testing, maintaining functionality, infrastructure monitoring, managing and hosting, combined with revenue received from the display of click based and impressions ads located on the Company’s websites, domain name registration, publishing and distribution of news and press releases.

Sep 30,

Sep 30,

2020

2019

Deferred Revenue

$ 15,583

$ -

Deferred revenue is based on cash received or billings in excess of revenue recognized until revenue recognition criteria are met. Client prepayments are deferred and recognized over future periods as services are delivered or performed.

Accounts Receivable and Allowance for Doubtful Accounts

The Company establishes an allowance for bad debts through a review of several factors including historical collection experience, current aging status of the customer accounts, and financial condition of our customers. The Company does not generally require collateral for our accounts receivable. There were no accounts receivable and allowance for doubtful accounts as of September 30, ~~2020~~2021 and December 31, ~~2019.~~2020.

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Risk Concentrations

The Company does not hold cash in excess of federally insured limits.

During the nine-month period ending September 30, ~~2020, 11%~~2021, 2% of the Company’s revenues were from click based and impressions ads located on the company’s websites, as well as ~~46%~~32% for press releases, article publishing and distribution by the Company and ~~43%~~66% of the Company’s revenues being received through advertisements, which 100% of the advertisement revenue was received through a related party by the Company.

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General and Administrative Expenses

Crown ~~Equity's~~Equity’s general and administrative expenses consisted of the following types of expenses during ~~2020~~2021 and ~~2019:~~2020: Compensation expense, auto, travel and entertainment, legal and accounting, utilities, web sites, office expenses, depreciation and other administrative related expenses.

Property and Equipment

Property and equipment are carried at the cost of acquisition or construction and depreciated over the estimated useful lives of the assets. Costs associated with repair and maintenance are expensed as incurred. Costs associated with improvements which extend the life, increase the capacity or improve the efficiency of our property and equipment are capitalized and depreciated over the remaining life of the related asset. Gains and losses on dispositions of equipment are reflected in operations. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets.

Impairment of Long-Lived Assets

The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is determined based on either expected future cash flows at a rate we believe incorporates the time value of money. No indications of impairments were identified in ~~2020~~2021 or ~~2019.~~2020.

Basic and Diluted Net (Loss) per Share

Three Months
Sep 30, 2020

Three Months
Sep 30, 2019

Numerator:

Net (Loss) attributable to common shareholders of Crown Equity Holdings, Inc.

$ (167,941 )

$ (53,254 )
Net (Loss) attributable to Crown Equity Holdings, Inc.

$ (167,941 )

$ (53,254 )

Denominator:

Weighted average common and common equivalent shares outstanding – basic and diluted

12,606,731

11,973,418

Earnings (Loss) per Share attributable to Crown Equity Holdings, Inc.:

Basic

$ (0.01 )

$ (0.00 )
Diluted

$ (0.01 )

$ (0.00 )

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	Nine Months Sep 30, 2020			Nine Months Sep 30, 2019			Nine Months Sept. 30, 2021			Nine Months Sept. 30, 2020
Numerator:
Net (Loss) attributable to common shareholders of Crown Equity Holdings, Inc.	$	(1,088,402	)	$	(130,060	)	$	(378,385	)	$	(1,088,402	)
Net (Loss) attributable to Crown Equity Holdings, Inc.	$	(1,088,402	)	$	(130,060	)	$	(378,385	)	$	(1,088,402	)

Denominator:
Weighted average common and common equivalent shares outstanding – basic and diluted		12,269,852			11,909,339			12,915,701			12,269,852

Earnings (Loss) per Share attributable to Crown Equity Holdings, Inc.:
Basic	$	(0.09	)	$	(0.01	)	$	(0.03	)	$	(0.09	)
Diluted	$	(0.09	)	$	(0.01	)	$	(0.03	)	$	(0.09	)

When an entity has a net loss, it is prohibited from including potential common shares in the computation of diluted per share amounts. Accordingly, we have utilized basic shares outstanding to calculate both basic and diluted loss per share for the periods ended September 30, ~~2020~~2021 and ~~2019.~~2020. The number of potential anti-dilutive shares excluded from the calculation shares for the period ended September 30, ~~2020~~2021 is ~~18,900,000.~~21,401,000.

Income Taxes

In December 2017, the Tax Cuts and Jobs Act (the “Act”) was enacted, which, among other changes, reduced the federal statutory corporate tax rate from 35% to 21%, effective January 1, 2018. As a result of this change, the Company’s statutory tax rate for fiscal ~~2019~~2020 and ~~2020~~2021 will be 21%. Crown Equity recognizes deferred tax assets and liabilities based on differences between the financial reporting and tax basis of assets and liabilities using the enacted tax rates and laws that are expected to be in effect when the differences are expected to be recovered. As of September 30, ~~2020,~~2021, and December 31, ~~2019,~~2020, the Company has not reflected any amounts as a deferred tax asset due to the uncertainty of future profits to offset any net operating loss.

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The Company’s deferred tax assets consisted of the following as of September 30, ~~2020~~2021 and December 31, ~~2019:~~
2020:

Sep 30,
2020

Dec 31,
2019

Net operating loss

$ 531,243

$ 416,916

Valuation allowance

(531,243 )

(416,916 )
Net deferred tax asset

-

-

	Sept. 30, 2021			Dec. 31, 2020
Net operating loss	$	738,045		$	661,701
Valuation allowance		(738,045	)		(661,701	)
Net deferred tax asset		0			0

Uncertain tax position

The Company also follows the guidance related to accounting for income tax uncertainties. In accounting for uncertainty in income taxes, the Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. No liability for unrecognized tax benefits was recorded as of September 30, ~~2020~~2021 and December 31, ~~2019.~~2020.

Fair Value of Financial Instruments

The ~~Company's~~Company’s financial instruments consist of cash and cash equivalents, accounts payable and debt. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

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Research and Development

The Company spent no money for research and development cost for the periods ended September 30, ~~2020~~2021 and December 31, ~~2019.~~2020.

Advertising Cost

The Company spent $0 for advertisement for the periods ended September 30, ~~2020~~2021 and ~~2019.~~2020.

NOTE 2 – GOING CONCERN

As shown in the accompanying condensed consolidated financial statements, Crown Equity has an accumulated deficit of ~~$12,996,336~~$13,344,459 since its inception and had a working capital deficit of ~~$372,921,~~$806,694 negative cash flows from operations and limited business operations as of September 30, ~~2020.~~2021. These conditions raise substantial doubt as to Crown ~~Equity's~~Equity’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if Crown Equity is unable to continue as a going concern.

Crown Equity continues to review its expense structure reviewing costs and their reduction to move towards profitability. Management plans to continue raising funds through debt and equity financing to grow the business to profitability. This financing may be insufficient to fund expenditures or other cash requirements. There can be no assurance that additional financing will be available to the Company on acceptable terms or at all. These financial statements do not give effect to adjustments to assets would be necessary for the Company be unable to continue as going concern.

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NOTE 3 – PROPERTY AND EQUIPMENT

The Company’s policy is to capitalize all property purchases over $1,000 and depreciates the assets over their useful lives of 3 to 7 years.

Property consists of the following aton September 30, ~~2020~~2021 and December 31, ~~2019:~~2020:

	Sep 30, 2020			Dec 31, 2019			Sept. 30, 2021			Dec. 31, 2020
Computers – 3 year estimated useful life	$	96,669		$	96,669		$	108,622		$	108,622
Less – Accumulated Depreciation		(91,889	)		(67,787	)		(98,601	)		(93,117	)
Property and Equipment, net	$	4,780		$	28,882		$	10,021		$	15,505

Depreciation has been provided over each asset’s estimated useful life. Depreciation expense was ~~$24,102,~~$5,484, and ~~$23,612~~$24,102 for the nine months ended September 30, ~~2020~~2021 and ~~2019,~~2020, respectively.

NOTE 4 – BROKERAGE ACCOUNT

As of September 30, ~~2020,~~2021, the market value of the Company’s account portfolio was ~~$167,389.~~$125,000. During the period ending September 30, 2021, $66,383 was transferred from brokerage account to operating account. The opening value of the account was ~~$170,000,~~$170,832, resulting in losses in portfolio investment as follows:

Net loss on investment in securities account for the nine months ended September 30, 2020

$ 2,611

Less – Net gain and losses recognized during 2020 on equity securities sold during the period

$ 0

Unrealized losses recognized during 2020 on equities securities still held at September 30, 2020

$ 2,611

Net loss on investment in securities account for the nine months ended September 30, 2021	$	752
Less – Net gain and losses recognized during 2021 on equity securities sold during the period	$	11,548
Unrealized losses recognized during 2021 on equities securities still held at September 30, 2021	$	10,796

NOTE 5 – FINANCE LEASES

During 2019 and 2020, the Company borrowed an aggregate $9,985 and $7,357 under the following third-party and related party finance lease transactions:

☐

A $9,985 note from a third party for the lease of fixed assets, bearing interest at 22%, amortized over 24 months with a ~~payments of $498 in additional to a $22 management fee for a total monthly~~ payment of $498 in additional to a $22 management fee for a total monthly payment of $520. The lease has a bargain purchase option of $1 at the end of the lease ~~has a bargain purchase option of $1 at the end of the lease~~ term.

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The following is a schedule of the net book value of the finance lease.

Assets	Sep 30, 2020			Sept. 30, 2021
Leased equipment under finance lease,	$	96,669		$	108,622
less accumulated amortization		(91,889	)		(98,601	)
Net	$	4,780		$	10,021

Liabilities	Sep 30, 2020		Sept. 30, 2021
Obligations under finance lease (current)	$	28,393	$	23,276
Obligations under finance lease (noncurrent)		14,505		4,477
Total	$	42,898	$	27,753

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Below is a reconciliation of leases to the financial statements.

	Finance Leases		Finance Leases
Leased asset balance	$	4,780	$	10,021
Liability balance		42,898		27,753
Cash flow (operating)		-		0
Cash flow (financing)		-		0
Interest expense	$	2,789	$	2,194

The following is a schedule, by years, of future minimum lease payments required under finance leases.

Years ended December 31	Finance Leases
~~2020~~		~~18,278~~
2021		~~15,726~~11,829
2022		~~11,860~~14,990
2023		2,869
Thereafter		-0
Total		~~45,864~~29,688
Less: Imputed Interest		(~~2,966~~1,935	)
Total Liability		~~42,898~~27,753

Other information related to leases is as follows:

Lease Type		Weighted Average Remaining Term		Weighted Average Discount Rate (1)
Finance Leases		~~1.49~~1.51 years			16	%

Based on average interest rate of 16%, average term remaining (months) ~~21.19~~18.19. Average term remain (years) ~~1.49.~~1.51.

(1) This discount rate is consistent with our borrowing rates from various lenders.

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NOTE 6 – NOTES PAYABLE AND CONVERTIBLE NOTE PAYABLES

As of September 30, ~~2020,~~2021, and December 31, ~~2019,~~2020, the Company had unamortized discount of $0 and $0 respectively.

The Company analyzed the below convertible notes for derivatives noting none.

	Original	Due	Interest			Conversion		Sep 30,		Original	Due	Interest			Conversion		Sept. 30,
Name	Note Date	Date	Rate			Rate		2020		Note Date	Date	Rate			Rate		2021

Related Party Convertible Notes Payable:
Mike Zaman	01/19/2018	01/19/2019		12	%	$	0.50		-
Montse Zaman	03/25/2020	03/25/2021		12	%	$	-		4,000	03/25/2020	03/25/2021		12	%	$	0		0
Montse Zaman	04/28/2020	04/28/2021		12	%	$	-		2,000	04/28/2020	04/28/2021		12	%	$	0		0
Montse Zaman	05/22/2020	05/22/2021		12	%	$	-		-	05/22/2020	05/22/2021		12	%	$	0		0
Willy A Saint-Hilaire										09/29/2020	09/29/2021					0		11,171

Willy A Saint-Hilaire										04/06/2021	04/06/2022		12	%	$	0		2,500
Willy A Saint-Hilaire										04/16/2021	04/16/2022		12	%	$	0		1,518
Willy A Saint-Hilaire										04/21/2021	04/21/2021		12	%	$	0		1,110
Shahram Khial										04/22/2021	04/22/2021		12	%	$	0		3,500
Willy A Saint-Hilaire										04/30/2021	03/25/2021		15.15	%	$	0		2,750
Willy A Saint-Hilaire										05/04/2021	03/25/2021		15.15	%	$	0		750
Willy A Saint-Hilaire	09/29/2020	09/29/2021					-		23,175	05/21/2021	03/25/2021		0	%	$	0		6,929
Total Convertible Related Party Notes Payable									29,175									30,228
Less: Debt Discount									23,175									(179	)
Convertible Notes Payable, net of Discount - Related Party									6,000									30,049

Third Party Convertible Notes Payable:
Willy A. Saint-Hilaire	02/27/2020	02/27/2021		12	%	$	-		-	02/27/2020	02/27/2021		12	%	$	0		-
Willy A. Saint-Hilaire	03/08/2020	03/08/2021		12	%	$	-		-	03/08/2020	03/08/2021		12	%	$	0		-
Willy A. Saint-Hilaire	03/24/2020	03/24/2021		12	%	$	-		-	03/24/2020	03/24/2021		12	%	$	0		-
Willy A. Saint-Hilaire	03/24/2020	03/24/2021		12	%	$	-		-	03/24/2020	03/24/2021		12	%	$	-		-
Willy A. Saint-Hilaire	03/24/2020	03/24/2021		12	%	$	-		-	03/24/2020	03/24/2021		12	%	$	0		-
Total Convertible Third Party Notes Payable									-							-		-
Less: Debt Discount									-							-		-
Convertible Notes Payable, net of Discount -
Third Party									-									-

Notes Payable related party										03/12/2021			16	%			$	6,578
Third Party Non-Convertible Notes Payable:
Small Business Administration – EIDL	04/30/2020	04/30/2050		3.75	%	$	-		4,000	04/30/2020	04/30/2050		3.75	%			$	0
Total Third Party Non-Convertible Notes Payable									4,000									-

Table of Contents

In April 2020, Crown Equity Holdings executed the standard loan documents required for securing a loan (the “EIDL Advance Loan”) from the SBA under its Economic Injury Disaster Loan (“~~EIDL”~~EIDL Advance”) an assistance program ~~in light of~~considering the impact of the COVID-19 pandemic on the Company’s business.

The ~~balance~~US Business Administration granted Company the $4,000 EIDL Advance forgivable loan for the purpose of working capital and normal operating expenses. During this period, the Company recognized a gain of $4,101 for the principal and interest ~~is payable thirty years from the date~~ of the ~~SBA Note. In connection therewith, the Company received a $4,000 advance.~~loan.

Mike Zaman

As of December 31, 2019, the Company owed Mike Zaman a total of $760 and remaining accrued interest of $3,503. The balance of $760 was paid on January 13, 2020 and the remaining accrued interest of $3,503 ~~were~~was not converted as of September 30, ~~2020.~~2021.

Montse Zaman

On March 27, 2020, the Company entered into a convertible promissory note with Montse Zaman in the amount of $5,000. The note carries interest at 12% per annum. The holder has the right to convert principal of the note and accrued interest into Common shares. ~~On August 21, 2020,~~During the period ending December 31,2020, the Company made principal payments of $1,000, and $3,000. In January 2021 a payment of $1,000 ~~principal reduction payment.~~was made. As of ~~September~~June 30, ~~2020,~~2021, the balance on this note was ~~$4,000.~~$0.

~~Table of Contents~~

On April 28, 2020, the Company entered into a convertible promissory note with Montse Zaman in the amount of $4,000. The note carries interest at 12% per annum. The holder has the right to convert principal of the note and accrued interest into Common shares. ~~On September 20,~~During the period ending December 31, 2020, the Company made ~~a $2,000~~ principal ~~reduction payment.~~payments of $2,00 and $2,000. As of ~~September~~June 30, ~~2020,~~2021, the balance on this note was ~~$2,000.~~$0.

On May 22, 2020, the Company entered into a convertible promissory note with Montse Zaman in the amount of $1,500. The note carries interest at 12% per annum. The holder has the right to convert principal of the note and accrued interest into Common shares. The Company made payments of $700 and $800 on May 22, 2020 and July 31, 2020 respectively. As of June 30, 2021, the balance on this note was $0.

Willy Ariel Saint-Hilaire

On February 27, 2020, the Company entered into a promissory note with Willy Ariel Saint-Hilaire in the amount of $14,500. The note carries interest at 12% per annum. On July 31, 2020, the principal balance of $14,500 and accrued interest of $744 for a total of $15,244 were converted into 30,488 common shares at a conversion rate of ~~$.50~~$0.50 per share.

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On March 8, 2020, the Company entered into a promissory note with Willy Ariel Saint--Hilaire in the amounts of $1,581. The notes carry interest at 12% per annum. On July 31, 2020, the principal balance of $1,581 and accrued interest of $75 for a total of 1,656 were converted into ~~3,312 common~~3,312common shares at a conversion rate of $.50 per share.

On March 24, 2020, the Company entered into promissory notes with Willy Ariel Saint-Hilaire in the amounts of $500, $400, and $652. The notes carry interest at 12% per annum. On July 31, 2020, the principal balance of $500, $400, $652 and accrued interest of $21, $17, $2 respectively for a total of $1,592 were converted into 3,184 common shares at a conversion rate of $.50 per share.

On September 20, 2020, the Company entered into a promissory note with Willy A Saint-Hilaire in the amount of $23,175 payable in 12 equal monthly installments of $1,931.25. As original issuance discount for the note, the Company issued Common Stock for a total of 23,175 shares. The fair market value of the shares ~~were~~was in excess of the note and the company recorded a debt discount of $23,175. The Company has made payments of $8,138 and an amortization of $11,172, during the nine-month period ended September 30, 2021.

On March 12, 2021, the Company entered into a promissory note with Willy A Saint-Hilaire in the amount of $9,332 at 16% interest, payable in 12 equal month principal installments of $778.

On April 6, 2021, the Company entered into a convertible promissory note with Willy A Saint-Hilaire in the amount of $2,500at an interest rate of 12% due within 12 months of the loan date.

On April 16, 2021, the Company entered into a convertible promissory note with Willy A Saint-Hilaire in the amount of $1,518.20 at an interest rate of 12% due within 12 months of the loan date.

On April 21, 2021, the Company entered into a convertible promissory note with Willy A Saint-Hilaire in the amount of $1,109.83 at an interest rate of 12%, due within 12 months of the loan date.

On April 22, 2021, the Company entered into a convertible promissory note with Shahram Khial in the amount of $3,500.00 at an interest rate of 12%, due within 12 months of the loan date.

On April 30, 2021, the Company entered into a convertible promissory note with Willy A Saint-Hilaire in the amount of $2,750.00 at an interest rate of 15.15%, due within 12 months of the loan date.

On May 4, 2021, the Company entered into a convertible promissory note with Willy A Saint-Hilaire in the amount of $750.00 at an interest rate of 15.15% due within 12 months of the loan date.

On May 21, 2021, the Company entered into a convertible promissory note with Willy A Saint-Hilaire in the amount of $7,280 at 12% interest with an original issuance discount of $280 and a $31 amortization expense for the six-month period ended June 30, 2021. The Company has made payments of $$530, during the nine-month period ended September 30, 2021.

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NOTE 7 – COMMITMENTS AND CONTINGENCIES

The Company is obligated for payments under related party notes payable and automobile lease payments.

The Company agreed to pay the automobile lease of $395 and $278 a month, on a ~~month to month~~month-to-month basis and can be cancelled at any time but expects to continue lease payments for the full ~~2020~~2021 year.

The Company entered into an agreement, effective January 1, 2020, to pay Arnulfo Saucedo-Bardan $5,000 per month for website development, design maintenance and other IT services and solutions.

On February 13, 2020, Munti Consulting LLC was issued a warrant at a price of $0.000025 per share ($25 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share. Exercisable after the first (1st) anniversary of the date of filing of the first Form S-1 filed with the U.S. Securities and Exchange Commission after the issuance of this Warrant.

On March 13, 2020, BBCKQK Trust Kevin Wiltz was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On March 13, 2020, Willy Ariel Saint--Hilaire was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On April 1, 2020, Addicted 2 Marketing LLC was issued a warrant at a price of $0.000025 per share ($2.50 total) to purchase 100,000 shares of common stock at the exercise price of $0.60 per share.

~~Table of Contents~~

On April 28, 2020, Shahram Khial was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On May 4, 2020, Arnulfo ~~Saucedo- Bardan~~Saucedo-Bardan was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase ~~1,000,000 shares~~1,000,000shares of common stock at the exercise price of $0.60 per share.

On May 7, 2020, Arnold F. Sock was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On May 7, 2020 Rudy Chacon was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 7, 2020, Sadegh Salmassi was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020, Glen J. Rineer was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020 Barry Cohen was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020, ~~Malcom~~Malcolm Ziman was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020 Brett Matus was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020 Brian D. Colvin was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020 Jacob Colvin was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 11, 2020, Mohammad Sadrolashrafi was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

Table of Contents

On May 13, 2020 Steven A. Fishman was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 13, 2020 Wendell and Sharon Piper was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 19, 2020 Joan R. Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($2.50 total) to purchase 100,000 shares of common stock at the exercise price of $0.60 per share.

On May 19, 2020 Marvin A Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($2.50 total) to purchase 100,000 shares of common stock at the exercise price of $0.60 per share.

On May 20, 2020 Willy Rafael Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 27, 2020 James Bobrik was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

~~Table of Contents~~

On May 28, 2020 Richard R Shehane was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 29, 2020 Ybelka ~~Saint Hilaire~~Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On June 3, 2020, Jeffery Connell was issued a warrant at a price of $0.000025 per share ($2.50 total) to purchase 100,000 shares of common stock at the exercise price of $0.60 per share.

On June 8, 2020 Hassan M. Oji was issued a warrant at a price of $0.000025 per share ($7.50 total) to purchase 300,000 shares of common stock at the exercise price of $0.60 per share.

On June 9, 2020, Kim Smith was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On June 12, 2020 Violet Gewerter was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On June 16, 2020, Roy S Worbets was issued a warrant at a price of $0.000025 per share ($5.00) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On June 19, 2020, Elvis E. Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On June 30, 2020, Chris Knudsen was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On July 1, 2020, Theresa Kitt was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On July 1, 2020, Donald Kitt was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On July 10, 2020, Shahram Khial was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On August 13, 2020, Monireh Sepahpour was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On August 18, 2020, Monica ~~Shayesteh~~Shayestehpour was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase ~~1,000,000 shares~~1,000,000shares of common stock at the exercise price of $0.60 per share.

Table of Contents

On September 2, 2020, Hongsing Phou was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On September 8, 2020, Pejham Khial was issued a warrant at a price of $0.000025 per share $12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On September 15, 2020, Salvatore Marasa was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On September 21, 2020, Richard W ~~Leandro~~LeAndro was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On September 21, 2020, Richard W ~~Leandro~~LeAndro Jr was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On September 25, 2020, Seyed M Javad was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On October 6, 2020, Nasrin Montazer was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On October 13, 2020, Jagjit Dhaliwal was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On January 3, 2021, Marjan Tina Suwarno & Reno Suwarno were issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

~~Table of Contents~~

~~Summary of Warrants Issued:~~

Issue Date

Issued To

Shares

Exercise price
per share

Warrant price per share

Total Paid for
Warrants

02/13/2020

Munti Consulting LLC

1,000,000

$ .060

$ 0.000025

$ 25.00

03/13/2020

BBCKQK Trust Kevin Wiltz

1,000,000

$ 0.60

$ 0.000025

$ 25.00

04/01/2020

Addicted 2 Marketing LLC

100,000

$ 0.60

$ 0.000025

$ 2.50

05/07/2020

Arnold F Sock

500,000

$ 0.60

$ 0.000025

$ 12.50

05/07/2020

Rudy Chacon

200,000

$ 0.60

$ 0.000025

$ 5.00

05/07/2020

Sadegh Salmassi

200,000

$ 0.60

$ 0.000025

$ 5.00

05/08/2020

Glen J Rineer

200,000

$ 0.60

$ 0.000025

$ 5.00

05/08/2020

Barry Cohen

200,000

$ 0.60

$ 0.000025

$ 5.00

05/13/2020

Steven A Fishman

200,000

$ 0.60

$ 0.000025

$ 5.00

05/13/2020

Wendell & Sharon Piper

200,000

$ 0.60

$ 0.000025

$ 5.00

05/27/2020

James Bobrik

200,000

$ 0.60

$ 0.000025

$ 5.00

05/28/2020

Richard R Shehane

200,000

$ 0.60

$ 0.000025

$ 5.00

06/03/2020

Jeffery Connell

100,000

$ 0.60

$ 0.000025

$ 2.50

06/08/2020

Hassan M Oji

300,000

$ 0.60

$ 0.000025

$ 7.50

06/09/2020

Kim Smith

500,000

$ 0.60

$ 0.000025

$ 12.50

06/12/2020

Violet Gewerter

500,000

$ 0.60

$ 0.000025

$ 12.50

06/16/2020

Roy S Worbets

200,000

$ 0.60

$ 0.000025

$ 5.00

06/30/2020

Chris Knudsen

200,000

$ 0.60

$ 0.000025

$ 5.00

07/01/2020

Donald Kitt

200,000

$ 0.60

$ 0.000025

$ 5.00

08/13/2020

Monireh Sepahpour

500,000

$ 0.60

$ 0.000025

$ 12.50

08/18/2020

Monica Shayestehpour

1,000,000

$ 0.60

$ 0.000025

$ 25.00

09/02/2020

Hongsing Phou

200,000

$ 0.60

$ 0.000025

$ 5.00

09/08/2020

Pejham Khial

500,000

$ 0.60

$ 0.000025

$ 12.50

09/15/2020

Salvatore Marasa

200,000

$ 0.60

$ 0.000025

$ 5.00

09/21/2020

Richard W LeAndro

500,000

$ 0.60

$ 0.000025

$ 12.50

09/21/2020

Richard W LeAndro Jr

500,000

$ 0.60

$ 0.000025

$ 12.50

09/25/2020

Seyed M Javad

200,000

$ 0.60

$ 0.000025

$ 5.00

Total:

9,800,000

$ 245.00

Related Party:

03/13/2020

Willy A Saint-Hilaire

1,000,000

$ 0.60

$ 0.000025

$ 25.00

04/28/2020

Shahram Khial

500,000

$ 0.60

$ 0.000025

$ 12.50

05/01/2020

Mike Zaman

1,000,000

$ 0.60

$ 0.000025

$ 25.00

05/01/2020

Montse Zaman

1,000,000

$ 0.60

$ 0.000025

$ 25.00

05/08/2020

Malcom Ziman

200,000

$ 0.60

$ 0.000025

$ 5.00

05/08/2020

Brett Matus

200,000

$ 0.60

$ 0.000025

$ 5.00

05/11/2020

Mohammad Sadrolashrafi

500,000

$ 0.60

$
0.000025

$
5.00

05/04/2020

Arnulfo Saucedo-Bardan

1,000,000

$ 0.60

$ 0.000025

$ 25.00

05/08/2020

Brian Colvin

1,000,000

$ 0.60

$ 0.000025

$ 25.00

05/08/2020

Jacob Colvin

200,000

$ 0.60

$ 0.000025

$ 5.00

05/19/2020

Joan R Saint-Hilaire

100,000

$ 0.60

$ 0.000025

$ 2.50

05/19/2020

Marvin A Saint-Hilaire

100,000

$ 0.60

$ 0.000025

$ 2.50

05/20/2020

Willy Rafael Saint-Hilaire

200,000

$ 0.60

$ 0.000025

$ 5.00

05/29/2020

Ybelka Saint-Hilaire

200,000

$ 0.60

$ 0.000025

$ 5.00

06/09/2020

Kenneth Cornell Bosket

1,000,000

$ 0.60

$ 0.000025

$ 25.00

06/19/2020

Elvis E Saint-Hilaire

200,000

$ 0.60

$ 0.000025

$ 5.00

07/01/2020

Theresa Kitt

200,000

$ 0.60

$ 0.000025

$ 5.00

07/10/2020

Shahram Khial

500,000

$ 0.60

$ 0.000025

$ 12.50

Total Related Party:

9,100,000

$ 220.00

2021

Table of Contents

Summary of Warrants Issued:

Issue Date	Issued To	Shares		Exercise price per share		Warrant price per share		Total Paid for Warrants
02/13/2020	Munti Consulting LLC		1,000,000	$	.060	$	0.000025	$	25.00
03/13/2020	BBCKQK Trust Kevin Wiltz		1,000,000	$	0.60	$	0.000025	$	25.00
04/01/2020	Addicted 2 Marketing LLC		100,000	$	0.60	$	0.000025	$	2.50
05/07/2020	Arnold F Sock		500,000	$	0.60	$	0.000025	$	12.50
05/07/2020	Rudy Chacon		200,000	$	0.60	$	0.000025	$	5.00
05/07/2020	Sadegh Salmassi		200,000	$	0.60	$	0.000025	$	5.00
05/08/2020	Glen J Rineer		200,000	$	0.60	$	0.000025	$	5.00
05/08/2020	Barry Cohen		200,000	$	0.60	$	0.000025	$	5.00
05/13/2020	Steven A Fishman		200,000	$	0.60	$	0.000025	$	5.00
05/13/2020	Wendell & Sharon Piper		200,000	$	0.60	$	0.000025	$	5.00
05/27/2020	James Bobrik		200,000	$	0.60	$	0.000025	$	5.00
05/28/2020	Richard R Shehane		200,000	$	0.60	$	0.000025	$	5.00
06/03/2020	Jeffery Connell		100,000	$	0.60	$	0.000025	$	2.50
06/08/2020	Hassan M Oji		300,000	$	0.60	$	0.000025	$	7.50
06/09/2020	Kim Smith		500,000	$	0.60	$	0.000025	$	12.50
06/12/2020	Violet Gewerter		500,000	$	0.60	$	0.000025	$	12.50
06/16/2020	Roy S Worbets		200,000	$	0.60	$	0.000025	$	5.00
06/30/2020	Chris Knudsen		200,000	$	0.60	$	0.000025	$	5.00
07/01/2020	Donald Kitt		200,000	$	0.60	$	0.000025	$	5.00
08/13/2020	Monireh Sepahpour		500,000	$	0.60	$	0.000025	$	12.50
08/18/2020	Monica Shayestehpour		1,000,000	$	0.60	$	0.000025	$	25.00
09/02/2020	Hongsing Phou		200,000	$	0.60	$	0.000025	$	5.00
09/08/2020	Pejham Khial		500,000	$	0.60	$	0.000025	$	12.50
09/15/2020	Salvatore Marasa		200,000	$	0.60	$	0.000025	$	5.00
09/21/2020	Richard W LeAndro		500,000	$	0.60	$	0.000025	$	12.50
09/21/2020	Richard W LeAndro Jr		500,000	$	0.60	$	0.000025	$	12.50
09/25/2020	Seyed M Javad		200,000	$	0.60	$	0.000025	$	5.00
10/06/2020	Nasrin Montazer		500,000	$	0.60	$	0.000025	$	12.50
10/13/2020	Jagit Dhaliwal		1,000,000	$	0.60	$	0.000025	$	25.00
01/03/2021	Marjan Tina Suwarno & Reno Suwarno		1,000,000	$	0.60	$	0.000025	$	25.00
	Total:		12,300,000					$	307.50
Related Party:
03/13/2020	Willy A Saint-Hilaire		1,000,000	$	0.60	$	0.000025	$	25.00
04/28/2020	Shahram Khial		500,000	$	0.60	$	0.000025	$	12.50
05/01/2020	Mike Zaman		1,000,000	$	0.60	$	0.000025	$	25.00
05/01/2020	Montse Zaman		1,000,000	$	0.60	$	0.000025	$	25.00
05/08/2020	Malcolm Ziman		200,000	$	0.60	$	0.000025	$	5.00
05/08/2020	Brett Matus		200,000	$	0.60	$	0.000025	$	5.00
05/11/2020	Mohammad Sadrolashrafi		500,000	$	0.60	$	0.000025	$	12.50
05/04/2020	Arnulfo Saucedo-Bardan		1,000,000	$	0.60	$	0.000025	$	25.00
05/08/2020	Brian D Colvin		1,000,000	$	0.60	$	0.000025	$	25.00
05/08/2020	Jacob Colvin		200,000	$	0.60	$	0.000025	$	5.00
05/19/2020	Joan R Saint-Hilaire		100,000	$	0.60	$	0.000025	$	2.50
05/19/2020	Marvin A Saint-Hilaire		100,000	$	0.60	$	0.000025	$	2.50
05/20/2020	Willy Rafael Saint-Hilaire		200,000	$	0.60	$	0.000025	$	5.00
05/29/2020	Ybelka Saint-Hilaire		200,000	$	0.60	$	0.000025	$	5.00
06/09/2020	Kenneth Cornell Bosket		1,000,000	$	0.60	$	0.000025	$	25.00
06/19/2020	Elvis E Saint-Hilaire		200,000	$	0.60	$	0.000025	$	5.00
07/01/2020	Theresa Kitt		200,000	$	0.60	$	0.000025	$	5.00
07/10/2020	Shahram Khial		500,000	$	0.60	$	0.000025	$	12.50
	Total Related Party:		9,100,000					$	227.50

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NOTE 8 – RELATED PARTY TRANSACTIONS

The Company is provided office space by one of the officers and directors at no charge. The Company believes that this office space is sufficient for its needs for the foreseeable future.

~~On January 13, 2020, the Company paid the remaining payable balance due to Mike Zaman of $760 for expenses paid on behalf of the Company.~~

~~On January 29, 2020, WYSH Investment LLC paid the Company $100 for press release services.~~

~~During the period ended March 31, 2020, the Company recorded the forgiveness of $7,200 accounts payable rent balance due to Mike Zaman.~~

On March 1, 2020, Willy A Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On April 28, 2020, 2020, Shahram Khial was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On May 1, 2020, Mike Zaman was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On May 1, 2020, Montse Zaman was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On May 4, 2020 Arnulfo Saucedo-Bardan was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020, ~~Malcom~~Malcolm Ziman was issued a warrant at a price of $0.000025 per share ($~~5.00total)~~5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020 Brian D. Colvin was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020 Jacob Colvin was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 8, 2020 Brett Matus was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 11, 2020, Mohammad Sadrolashrafi was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On May 19, 2020 Joan R Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($2.50 total) to purchase 100,000 shares of common stock at the exercise price of $0.60 per share.

On May 19, 2020 Marvin A Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($2.50 total) to purchase 100,000 shares of common stock at the exercise price of $0.60 per share.

On May 20, 2020 Willy Rafael Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On May 29, 2020 Ybelka Saint-Hilaire was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On June 9, 2020 Kenneth Cornell Bosket was issued a warrant at a price of $0.000025 per share ($25.00 total) to purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.

On July 1, 2020 Theresa Kitt was issued a warrant at a price of $0.000025 per share ($5.00 total) to purchase 200,000 shares of common stock at the exercise price of $0.60 per share.

On July 10, 2020, Shahram Khial was issued a warrant at a price of $0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.

On July 31, 2010, the Company entered into a Note Conversion Agreement with Willy A Saint-Hilaire to convert $17,633 of Note Payable plus interest of $859 to 36,984 shares of common stock at a conversion rate of $0.50 per share.

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On September 1, 2020, the Company entered into a Services Agreement with American Video Teleconferencing Corp (AVOT) to provide advertising, branding and marketing solutions. The Company was compensated $17,000 for services to be rendered for a period of 12 months. Total compensation of $17,000 was converted to 17,000,000 million shares of AVOT restricted common ~~stock The Company recognized $1,417 in revenue for the nine month period ended September 30, 2020.~~stock. There is ~~remaining $15,583~~a $0.00 balance in deferred revenue as of September 30, ~~2020.~~

~~On September 9, 2020, Mohammad Sadrolashrafi purchased 30,000 shares of common stock at $0.50 per share at purchase price of $15,000.~~

~~On September 14, 2020, AVOT paid the Company $250 for press release services.~~2021.

On September 29, 2020, the Company entered into a Promissory Note Agreement with Willy A ~~Saint-Hilare~~Saint-Hilaire for $23,175. As original issuance discount for the note, the Company issued Common Stock for a total of 23,175 shares. The fair market value of the shares were in excess of the note and the company recorded a debt discount of $23,175.

The Company is periodically advanced operating funds from related parties with convertible notes payable. During the nine months ended September 30, ~~2020,~~2021, total convertible notes from related parties was ~~$23,175.~~$19,600. The Company is also periodically advanced funds to cover account payables by direct payment of the account payables from related parties.

The Company entered into an agreement, effective January 1, 2020, to pay Mike Zaman $20,000 per month for managerial services.

The Company entered into an agreement, effective January 1, 2020, to pay Kenneth Bosket $5,000 per month for administrative services.

The Company entered into an agreement, effective January 1, 2020, to pay Montse Zaman $5,000 per month for administrative services.

As of September 30, ~~2020,~~2021, the Company has a balance of ~~$343,296~~$734,940 of accounts and accrued expenses payable with related parties.

NOTE 9 – STOCK HOLDERS’ DEFICIT

Common Stock

During the nine months ending September 30, ~~2020,~~2021, the Company issued the following:

	·•	~~472,000 common~~ 1,286 shares for ~~cash proceeds of $243,500.~~
	·	~~140,083 shares issued for settlement of~~ stock payable ~~due to Vinoth Sambandan for balance owed through December 31, 2019~~
	·•	~~204,933 shares issued for settlement of accounts payable due to Vinoth Sambandan for balance owed through December 31, 2019~~
	·	~~160,000 shares issued to Steven Cantor to settle compensation dispute.~~
	·	~~4,834~~4,099 shares issued to third parties for ~~services rendered.~~services.
	·	~~15,978 shares issued to Vinoth Sambandan for stock payable.~~
•	·	~~74,000 shares issued to third parties~~11,504 for settlement of ~~Accounts Payable.~~AP.
	·	~~36,984 shares issued to Willy A Saint-Hilaire for conversion of Note Payable~~
	·	~~23,175 shares issued to Willy A Saint-Hilaire for interest prepayment of Note Payable~~

On February 13, 2020, the Company granted non-qualified stock warrants purchasing up to 1,000,000 shares of common stock at an exercise price of $0.60 per share. The option to purchase can be exercised at or after the date of the Company’s S1 registration filing of which date is yet to be determined.

~~Table of Contents~~

On March 13, 2020, the Company granted non-qualified stock warrants purchasing up to 2,000,000 shares of common stock at an exercise price of $0.60 per share. The option to purchase can be exercised at or after the date of the Company’s S1 registration filing of which date is yet to be determined.

Equity Incentive Plan

The Company’s 2006 Equity Incentive Plan, as amended and restated (the “Equity Incentive Plan”), provides for grants of stock options as well as grants of stock, including restricted stock. Approximately 3.0 million shares of common stock are authorized for issuance under the Equity Incentive Plan, of which 3.0 million shares were available for issuance as of September 30, ~~2020~~2021

Preferred Stock

The Company has designated 1,000 shares of its preferred stock as Series A Preferred Stock. Each share of Series A Preferred shall have no dividend, voting or other rights except for the right to elect Class I Directors. As of September 30, ~~2020,~~2021, the Company has 1,000 shares of Series A Preferred Stock outstanding.

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NOTE 10 – INCOME TAXES

The Company follows ASC 740, Accounting for Income Taxes. During 2009, there was a change in control of the Company. Under section 382 of the Internal Revenue Code such a change in control negates much of the tax loss carry forward and deferred income tax. Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carry forwards. For federal income tax purposes, the Company uses the accrual basis of accounting, the same that is used for financial reporting purposes.

The Company did not have taxable income during ~~2020.~~2021.

The ~~Company's~~Company’s deferred tax assets consisted of the following as of September 30, ~~2020~~2021 and December 31, ~~2019:~~2020:

	2020			2019			2021			2020
Net operating loss	$	531,243		$	416,916		$	738,045		$	661,701
Valuation allowance		(531,243	)		(416,916	)		(738,045	)		(661,701	)
Net deferred tax asset	$	-		$	-		$	0		$	0

As of September 30, ~~2020,~~2021, and December 31, ~~2019,~~2020, the ~~Company's~~Company’s accumulated net operating loss carry forward was approximately ~~$2,529,727~~$3,529,342 and ~~$1,985,312~~$3,150,957 respectively and will begin to expire in the year 2032. The deferred tax assets have been adjusted to reflect the recently enacted corporate tax rate of 21%.

NOTE 11 – SUBSEQUENT EVENTS

On October 7, 2021, the Company made a $100.00 payment on a Willy A. Saint-Hilaire note originated on May 21, 2021.

On October 5, 08, 2021, the Company made a $1,366.25 payment on a Willy A. Saint-Hilaire note originated on March 12, 2021.

On October 08, 2021, the Company paid off a related party note payable of Willy A. Saint-Hilaire that was originated on 09/29/2020 ~~Sameh Shenouda purchased 3,000 shares~~in an amount of 11,171.50.

On October 25, 2021, Jamie Hadfield purchase 400,000shares of common stock at ~~$1.00~~$0.50 per share at the purchase price of ~~$3,000.~~$200,000.

On October ~~6, 2020, Nasrin Montazer was issued a warrant at a price~~25, 2021, Malcolm Ziman resigned as board member and VP of ~~$0.000025 per share ($12.50 total) to purchase 500,000 shares of common stock at the exercise price of $0.60 per share.~~Finance.

On October ~~13, 2020, Jagjit Dhaliwal was issued a warrant at a price~~26, 2021, Jamie Hadfield and Shawn Jones became the members of ~~$0.000025 per share ($25.00 total)~~the board, increasing the amount of board members from six to ~~purchase 1,000,000 shares of common stock at the exercise price of $0.60 per share.~~seven.

Management has evaluated subsequent events as of the date of the Financial Statements and has determined that all events are disclosed herein.

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ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS

The following discussion and analysis should be read in conjunction with our Financial Statements and the notes thereto, set forth in Item 8. “Financial Statements” as set forth in our Annual Report on Form 10-K for the year ended December 31, ~~2019,~~2020, and the Condensed Consolidated Financial Statements and notes thereto included in Part I of this Quarterly Report on Form 10-Q. The following discussion may contain forward looking statements. For additional information, see “Disclosure Regarding Forward Looking Statements” in Part I of this Quarterly Report on Form 10-Q.

OVERVIEW

Crown Equity Holdings Inc. (“Crown Equity”) was incorporated in August 1995 in Nevada. The Company is offering its services to companies seeking to become public entities in the United States. It has launched a website, www.crownequityholdings.com, which offers its services in a wide range of fields. The Company provides various consulting services to companies and individuals dealing with corporate structure and operations globally. The Company also provides public relations and news dissemination for publicly and privately held companies.

In December 2010, the Company formed two wholly owned subsidiaries Crown Tele Services, Inc. and

CRWE Direct, Inc. Crown Tele Services, Inc. was formed to provide voice over internet (“VoIP”) services to clients at a competitive price and Crown Direct, Inc. was formed to provide direct sales to customers. Both entities had minimum sales during the quarter.

In March, 2011, the Company formed a wholly owned subsidiary CRWE Real Estate, Inc. as a subsidiary to engage in potential real estate holdings. The entity had minimal activity during the quarter.

The Company has focused its primary vision to using its network of websites to provide advertising and marketing services, as a worldwide online media advertising publisher, dedicated to the distribution of quality branding information. The Company offers Internet media-driven advertising services, which cover and connect a wide range of marketing specialties, as well as search engine optimization for clients interested in online media awareness. As part of its operations, the Company has utilized the services of software and hardware technicians in developing its websites and adding additional websites. This allows the Company to disseminate news and press releases for its customers as well as general news and financial information on a much bigger scale than it did previously. The Company markets its services to companies seeking market awareness of them and the services or goods that they offer. The Company then publishes information concerning these companies on its many websites

Crown Equity’s office is located at 11226 Pentland Downs Street, Las Vegas, NV 89141.

As of September 30, ~~2020~~2021, Crown Equity has 4 employees and ~~was utilizing~~utilized the services of ~~three independent contractors and~~ the following ~~six~~four officers, Mike Zaman, Kenneth Bosket, Montse Zaman, ~~Malcolm Ziman, Mohammad Sadrolashrafi~~ and ~~Shahram Khial.~~Vinoth Sambandam.

RESULTS OF OPERATIONS

Three months ended September 30, ~~2020~~2021 Compared to the Three months ended September 30, ~~2019~~2021

For the three months ended September 30, ~~2020,~~2021, revenues were ~~$1,877 of which $1,667 was from related parties,~~$3,061 and ~~$419~~$1,877 for the same period in ~~2019.~~2020.

Revenues for the three months ended September 30, ~~2020~~2021 was higher primarily due to advertising revenue not earned for the same period in ~~2019.~~2020.

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Operating expenses were ~~$145,043~~$123,982 for the three months ended September 30, ~~2020~~2021 and ~~$50,029~~$145,043 for the same period in ~~2019. Increase~~2020. decrease in operating expenses was primarily due to ~~increase~~decrease of ~~$105,000~~$14,854 in ~~quarterly officer compensation.~~administrative services and a decrease in depreciation of $6,207.

Other expenses for the three-month period ended September 30, ~~2020~~2021 were ~~$24,775~~$20,097 and ~~$3,644~~$24,775 for the same quarter in ~~2019.~~2020. The ~~increase~~decrease in other expenses was primarily due to ~~investment expense~~the recording of ~~$17,000.~~Debt discount amortization and Interest expense.

Interest expense for the three months ended September 30, 2021 and 2020 was $2,216 and ~~2019 was~~ $5,164, ~~and $3,644,~~ respectively.

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Nine months ended September 30, ~~2020~~2021 Compared to the Nine months ended September 30, ~~2019~~2020

For the nine months ended September 30, ~~2020,~~2021, revenues were ~~$2,954~~$12,325 and ~~$53,464~~$2,954 for the same period in ~~2019.~~2020. Revenues for the nine months ended September 30, ~~2020~~2021 was significantly ~~lower~~higher compared to the same period in ~~2019~~2020 primarily due to advertising income from related parties earned in the same period in ~~2019.~~2020.

Operating expenses were ~~$517,540~~$388,397 for the nine months ended September ~~30,2020~~30, 2021 and ~~$132,313~~$517,540 for the same period in ~~2019. Increase~~2020. Decrease in operating expenses was primarily due to ~~increase~~decrease officer compensation, managerial services, accounting services, IT services and administrative ~~services.~~services and depreciation.

Other expenses for the nine-month period ended September 30, ~~2020~~2021 were ~~$573,816~~$5,374 and ~~$51,211~~$573,816 for the same period in ~~2019.~~2020. The ~~increase~~decrease in other expenses was primarily due to the recording of loss on shares issued to settle accounts payable and investment expense.

Interest expense for nine months ended September 30, 2021 and 2020 was $5,466 and ~~2019 was~~ $11,871, ~~and $12,291,~~ respectively.

LIQUIDITY AND CAPITAL RESOURCES

As of September 30, ~~2020,~~2021, Crown Equity had current assets of ~~$186,753~~$128,178 and current liabilities of ~~$536,499~~$934,872 resulting in working capital deficit of ~~$349,746.~~$806,694. Net cash used by operating activities for the nine months ended September 30, ~~2020~~2021 was ~~$75,011~~$7,555 compared to net cash used of ~~$50,315~~$75,011 for the same period in ~~2019.~~2020.

Net cash used in investing activities was ~~$170,000~~$0 and $0 for the nine months ended September 30, ~~2020~~2021 and ~~2019,~~2020, respectively.

Net cash provided by financing activities during the nine months ended September 30, ~~2020~~2021 was ~~$263,378~~$7,686 compared to net cash provided of ~~$44,345~~$263,378 for the same period in ~~2019.~~2020. For the nine months ended September 30, ~~2020,~~2021, we borrowed ~~$33,675~~$19,306 from related ~~parties, and received a loan from the Small Business Administration for $4,000. We also sold 412,000 shares of common stock for $243,500.~~parties.

Our existing capital may not be sufficient to meet Crown Equity’s cash needs, including the costs of compliance with the continuing reporting requirements of the Securities Exchange Act of 1934, as amended. This condition raises substantial doubt as to Crown Equity’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if Crown Equity is unable to continue as a going concern.

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ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a “smaller reporting company” as defined by Item 12b-2 of the securities exchange act of 1934 (the “exchange act”) and are not ~~requires~~required to provide information required under this Item.

ITEM 4: CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

Based on their evaluation of our disclosure controls and procedures(as defined in Rule 13a-15e under the Securities Exchange Act of 1934 the “Exchange Act”), our principal executive officer and principal financial officer have concluded that as of the end of the period covered by this quarterly report on Form 10-Q such disclosure controls and procedures were not effective to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms because of the identification of material weaknesses in our internal control over financial reporting which we view as an integral part of our disclosure controls and procedures. The material weaknesses relate to the lack of segregation of duties in financial reporting, as our financial reporting and all accounting functions are performed by an external consultant with no oversight by a professional with accounting expertise. Our CEO and CFO also do not possess accounting expertise and our company does not have an audit committee. These material weaknesses are due to the company’s lack of working capital to hire additional staff. To remedy this material weakness, we intend to engage another accountant to assist with financial reporting as soon as our finances will allow.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during our first quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – OTHER INFORMATION

ITEM 1: LEGAL PROCEEDINGS.

For information regarding legal proceedings, see Note 7, “Commitments and Contingencies – Legal Matters” in the Notes to our Condensed Consolidated Financial Statements set forth in Part I, Item 1 of this Quarterly Report on Form 10-Q, which is incorporated herein by reference.

ITEM 1A: RISK FACTORS.

There have been no material changes to Crown Equity’s risk factors as previously disclosed in our most recent 10-K filing for the year ended December 31, ~~2019.~~2020.

ITEM 2: SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

During the nine months ended September 30, 2020, Crown Equity issued ~~1,131,987~~16,889 shares for cash, services, settlement of AP and board member’s compensation debt conversion, inducement for NP and common stock subscribed for services.

ITEM 3: DEFAULTS UPON SENIOR SECURITIES.

None

ITEM 4: MINE SAFETY INFORMATION.

None

ITEM 5: OTHER INFORMATION.

None

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ITEM 6: EXHIBITS

EXHIBIT 31.1		Certification of Principal Executive Officer

EXHIBIT 31.2		Certification of Principal Financial Officer

EXHIBIT 32.1		Certification of Compliance to Sarbanes-Oxley

EXHIBIT 32.2		Certification of Compliance to Sarbanes-Oxley

101		Interactive data files pursuant to Rule 405 of Regulation S-T.

~~EXHIBIT 32.2~~101.INS		~~Certification of Compliance to Sarbanes-Oxley~~Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).

101.INS **		~~XBRL Instance Document~~

101.SCH **		Inline XBRL Taxonomy Extension Schema ~~Document~~Document.

101.CAL **		Inline XBRL Taxonomy Extension Calculation Linkbase ~~Document~~Document.

101.DEF **		Inline XBRL Taxonomy Extension Definition Linkbase ~~Document~~Document.

101.LAB **		Inline XBRL Taxonomy Extension ~~Label~~Labels Linkbase ~~Document~~Document.

101.PRE **		Inline XBRL Taxonomy Extension Presentation Linkbase ~~Document~~Document.

~~____________~~

**	XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

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SIGNATURES

In accordance with 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 EQUITY HOLDINGS INC.

Date: November ~~20, 2020~~12, 2021	By:	/s/ Mike Zaman
		Mike Zaman, CEO

	By:	/s/ Kenneth Bosket
		~~By:~~	~~/s/~~ Kenneth Bosket, CFO
		~~Kenneth Bosket, CFO~~

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	Nine months Ended
	September 30,
	2020			2019
Cash flows from operating activities
Net loss	$	(1,088,402	)	$	(130,060	)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services		24,756			26,454
Common stock issued for Settlement of Board Member Compensation		80,000			-
Depreciation		24,102			23,612
Loss on brokerage account		2,611			-
Loss on investment		17,000			-
Loss on AP settlement		543,987			-
Amortization of beneficial conversion feature		-			38,920
Changes in operating assets and liabilities:
Deferred revenue – related party		(1,417	)		(50,000	)
Accounts payable and accrued expenses – related party		262,632			26,430
Accounts payable and accrued expenses		59,720			14,329
Net cash (used in) operating activities		(75,011	)		(50,315	)

Cash used in investing activities
Cash paid to brokerage account		(170,000	)		-
Net cash (used in) investing activities		(170,000	)		-

Cash flows from financing activities
Payments on convertible notes payable, related party		(5,260	)		(3,011	)
Borrowings from convertible notes payable, related party		33,675			-
Proceeds from Sale of Stock		243,500			57,960
Proceeds from EIDL loan		4,000			-
Principal payments on debt		(13,759	)		(10,604	)
Warrant Subscriptions		472			-
Shares subscribed for cash		750			-
Net cash provided by financing activities		263,378			44,345

Net increase (decrease) in cash		18,367			(5,970	)
Cash, beginning of period		997			13,294
Cash, end of period	$	19,364		$	7,324

Supplemental disclosure of cash flow information
Interest paid	$	11,871		$	7,905
Income taxes paid		-			-

Non-Cash Transactions
Forgiveness of AP by CEO	$	7,200		$	-
Forgiveness of Interest – Related Party		-			9,282
Purchase of fixed assets through finance lease		-			9,985
Debt converted to common stock		18,489			56,895
Convertible debt for payment of AP		17,633			-
RP-AP Converted into common stock		64,024			-
AP Converted into common stock – Third Party		37,000			-
Shares issued for stock payable		43,764			-
Stock for related party deferred revenue		17,000			-
Stock issued for prepayment of interest on debt – related party		23,175			-