Dissolution of Crown Auto Holdings Announced

Updated

Dissolution of Crown Auto Holdings Announced

SALT LAKE CITY--(BUSINESS WIRE)-- Crown Auto Holdings, Inc. (OTC Pink Sheets: "CUTO") announced today that the Company was dissolved, effective December 31, 2012, with the approval of its sole director and its majority stockholder. All assets and inventory were assigned to Crown Auto, Inc., a Utah corporation wholly owned by such sole director and majority stockholder, in consideration of the agreement by Crown Auto, Inc. to pay or compromise all liabilities of the Company reflected in its balance sheet at November 30, 2012, or incurred in the ordinary course of business from that date until its dissolution. At November 30, 2012, the Company's liabilities exceeded its assets by approximately $208,000.

The Company will ask the OTC Markets, Inc. to delist the Company's common stock from the Pink Sheets as quoted under the symbol "CUTO."


anImage
anImage



For Crown Auto Holdings, Inc.
Leonard W. Burningham, Esq., 801-363-7411
lwb@burninglaw.com

KEYWORDS: United States North America Utah

INDUSTRY KEYWORDS:

The article Dissolution of Crown Auto Holdings Announced originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Advertisement