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EXCEL - IDEA: XBRL DOCUMENT - CROWN AUTO HOLDINGS INC.Financial_Report.xls
10-K - MAINBODY - CROWN AUTO HOLDINGS INC.mainbody.htm
XML - IDEA: XBRL DOCUMENT - CROWN AUTO HOLDINGS INC.R2.htm
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EX-31.2 - EXHIBIT 31.2 - CROWN AUTO HOLDINGS INC.ex31_2.htm
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EX-32.1 - EXHIBIT 32.1 - CROWN AUTO HOLDINGS INC.ex32_1.htm
XML - IDEA: XBRL DOCUMENT - CROWN AUTO HOLDINGS INC.R11.htm
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ORGANIZATION AND HISTORY
12 Months Ended
Dec. 31, 2011
Notes to Financial Statements  
ORGANIZATION AND HISTORY

 

Crown Auto Holdings, Inc. was incorporated in the state of Nevada in March of 2009. On April 20, 2010, the Company entered into a share exchange agreement to acquire Crown Auto, Inc. (“CAI”) a corporation organized under the laws of Utah in July of 1999. In accordance with the share exchange agreement, the Company issued 5,000,000 shares to the shareholder of CAI. Due to the fact that the companies were held under common control at the time of acquisition, the Company has recorded for the acquisition using the pooling of interest method of accounting. The assets, liabilities and stockholders’ equity for each Company has been combined as of the acquisition date and on a retroactive basis. Under the share exchange agreement, CAI became a wholly owned subsidiary of the Company, and CAI will continue to own its assets and operate its business as a wholly-owned subsidiary of the Company.

 

The Company operates a used automobile dealership in Salt Lake City, Utah. In addition to automobile sales, the Company also offers dealer financing arrangements to certain buyers.