UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

For the quarterly period ended: ~~September~~March 3031, ~~2019~~2020

¨☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____________ to _____________

Commission File Number: 000-53800

SMSA Crane Acquisition Corp.

(Exact name of registrant as specified in its charter)

Nevada	27-0984742
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

4 Orinda Way, Suite 180-C, Orinda, CA 94563

(Address of principal executive offices, Zip Code)

(925) 791-1440

(Registrant's telephone number, including area code)

________________________________________________________

(Former Name, Former Address and Former Fiscal Year if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

Indicate by check mark whether the registrant (1) has 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~~ period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ¨ No þ☒

Indicate by check mark whether the registrant ~~has~~ 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 þ☒

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 accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer ¨☐ Non-Accelerated Filer þ☒ Accelerated Filer ¨☐ Smaller reporting company þ☒ Emerging growth company ¨☐

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

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

State the number of shares outstanding of each of of the issuer’s classes of common stock, as of the latest practicable date: 10,047,495 common shares as of ~~July~~September __23, 2021.

TABLE OF CONTENTS

		Page

	PART I – FINANCIAL INFORMATION

Item 1.	Condensed Financial Statements (Unaudited)	1
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	9
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	11
Item 4.	Controls and Procedures	11

	PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	12
Item 1A.	Risk Factors	12
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	12
Item 3.	Defaults Upon Senior Securities	12
Item 4.	Mine Safety Disclosures	12
Item 5.	Other Information	12
Item 6.	Exhibits	12

PART I. FINANCIAL INFORMATION

~~ITEM~~Item 1. ~~FINANCIAL~~Financial ~~STATEMENTS~~Statements.

Our financial statements included in this Form 10-Q are as follows:

2	Condensed Balance Sheets as ~~September~~March 3031, ~~2019~~2020 and December 31, ~~2018~~2019 (unaudited);
3	Condensed Statements of Operations for the three ~~and nine~~ months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 (unaudited);
4	Condensed Statements of Changes in Stockholders' Deficit for the three ~~and nine~~ months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 (unaudited);
5	Condensed Statements of Cash Flows for the ~~nine~~three months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 (unaudited);
6	Notes to Unaudited Condensed Financial Statements.

These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. ~~Operating~~ Operating results for the interim period ended ~~September~~March 3031, ~~2019~~2020 are not necessarily indicative of the results that can be expected for the ~~full~~ full year.

SMSA Crane Acquisition Corp.

Condensed Balance Sheets

~~September~~March 3031, ~~2019~~2020 and December 31, ~~2018~~2019

(Unaudited)

	September 30,			December 31,
	March 31,			December 31,
	2019			2018
	2020			2019
ASSETS
Current Assets
Cash – attorney escrow account	$	—10,998		$	219,~~826~~730
Total Current Assets	$	—10,998		$	219,~~826~~730
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued expenses	$	2519,~~015~~065		$	2114,~~691~~516
Due to shareholder		4681,615			4681,615
Total Current Liabilities		71100,~~630~~680			6896,~~306~~131
Total Liabilities		71100,~~630~~680			6896,~~306~~131
Stockholders' Deficit
Preferred stock - $0.001 par value
Preferred stock - $0.001 par value. 10,000,000 shares authorized. No shares issued and outstanding		—			—
10,000,000 shares authorized
Common stock - $0.001 par value. 100,000,000 shares authorized. 10,047,495 shares issued and outstanding		10,048			10,048
No shares issued and outstanding		—			—
Common stock - $0.001 par value
100,000,000 shares authorized. 10,047,495 shares issued and outstanding		10,048			10,048
Additional paid-in capital		341,928			341,928
Accumulated Deficit		(423,606	)		(417,456	)
Accumulated deficit		(441,658	)		(428,377	)
Total Stockholders' Deficit		(7189,~~630~~682	)		(6576,~~480~~401	)
Total Liabilities and Stockholders' Deficit	$	—10,998		$	219,~~826~~730

The accompanying notes are an integral part of ~~these~~ these unaudited ~~condensed~~ financial statements

SMSA Crane Acquisition Corp.

Condensed Statements of Operations

~~For the~~ Three ~~and Nine~~ Months Ended ~~September~~March 3031, ~~2019~~ 2020 and ~~2018~~2019

(Unaudited)

	Three Months Ended						~~Nine Months Ended~~
	September 30,						September 30,
	March 31,
	2019			2018			2019			2018
	2020			2019
Revenues	$	—		$	—		$	—		$	—
Operating expenses
Professional fees		110,~~056~~986			~~649~~1,869			~~3,335~~			~~23,256~~
Other general and administrative		12,~~160~~295			~~987~~769			~~2,815~~			~~6,211~~
Total operating expenses		213,~~216~~281			12,~~636~~638			~~6,150~~			~~29,467~~
Other Income (Expense)
Total Other Income (Expense)	$	—		$	—			—			—
Loss from operations		(213,~~216~~281	)		(12,~~636~~638	)		~~(6,150~~	)		~~(29,467~~	)
Provision for income taxes		—			—			—			—
Net loss	$	(213,~~216~~281	)	$	(12,~~636~~638	)	$	~~(6,150~~	)	$	~~(29,467~~	)
Loss per common shares - basic and fully diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Loss per Common shares - basic and fully diluted	$	(0.00	)	$	(0.00	)
Weighted-average number of
Weighted-average number of common shares outstanding - basic and fully diluted		10,047,495			10,047,495
common shares outstanding
- basic and fully diluted		10,047,495			10,047,495			10,047,495			10,047,495

The accompanying notes are an integral part of ~~these~~ these unaudited ~~condensed~~ financial statements

SMSA Crane Acquisition Corp.

Statements of Changes in Stockholders' Deficit

For the Three ~~and Nine~~ Months Ended ~~September~~March 3031, ~~2019~~ ~~and~~2020 ~~2018~~ and 2019

(Unaudited)

	Common Stock				Additional					Total
					Additional
	$0.001 Par Value				Paid-in		Accumulated			Stockholders'
	Common Stock				paid-in					Total
	Shares		Amount		Capital		Deficit			Deficit
	$0.001 Par Value				Capital		Accumulated			Stockholders'
Balances at December 31, 2018		10,047,495	$	10,048	$	341,928	$	(417,456	)	$	(65,480	)
	Shares		Amount		Amount		Deficit			Deficit
Net loss for the period		—		—		—		(2,638	)		(2,638	)
Balances at December 31, 2019		10,047,495	$	10,048	$	341,928	$	(428,377	)	$	(76,401	)
Balances at March 31, 2019		10,047,495		10,048		341,928		(420,094	)		(68,118	)
Net loss for the period		—		—				(13,281	)		(13,281	)
Net loss for the period		—		—		—		(1,296	)		(1,296	)
Balances at March 31, 2020		10,047,495	$	10,048	$	341,928	$	(441,658	)	$	(89,682	)
Balances at June 30, 2019		10,047,495		10,048		341,928		(421,390	)		(69,414	)
Net loss for the period		—		—		—		(2,216	)		(2,216	)
Balances at September 30, 2019		10,047,495	$	10,048	$	341,928	$	(423,606	)	$	(71,630	)

	Common Stock				Additional					Total
					Additional
	$0.001 Par Value				Paid-in		Accumulated			Stockholders'
	Common Stock				paid-in					Total
	Shares		Amount		Capital		Deficit			Deficit
	$0.001 Par Value				Capital		Accumulated			Stockholders'
Balances at December 31, 2017		10,047,495	$	10,048	$	341,928	$	(379,219	)	$	(27,243	)
	Shares		Amount		Amount		Deficit			Deficit
Net loss for the period		—		—		—		(6,881	)		(6,881	)
Balances at December 31, 2018		10,047,495	$	10,048	$	341,928	$	(417,456	)	$	(65,480	)
Balances at March 31, 2018		10,047,495		10,048		341,928		(386,100	)		(34,124	)
Net loss for the period		—		—				(2,638	)		(2,638	)
Net loss for the period		—		—		—		(20,950	)		(20,950	)
Balances at March 31, 2019		10,047,495	$	10,048	$	341,928	$	(420,094	)	$	(68,118	)
Balances at June 30, 2018		10,047,495		10,048		341,928		(407,050	)		(55,074	)
Net loss for the period		—		—		—		(1,636	)		(1,636	)
Balances at September 30, 2018		10,047,495	$	10,048	$	341,928	$	(408,686	)	$	(56,710	)

The accompanying notes are an integral part of ~~these~~ these unaudited ~~condensed~~ financial statements

SMSA Crane Acquisition Corp.

Condensed Statements of Cash Flows

~~For~~Three ~~the Nine~~ Months Ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~ 2019

(Unaudited)

	Nine Months Ended September 30,
	Three Months Ended
	2019			2018
	March 31,
	2020			2019
Cash Flows from Operating Activities:
Net loss	$	(613,~~150~~281	)	$	(292,~~467~~638	)
Adjustments to reconcile net loss to net cash used in operating activities
Changes in operating working capital items:
Increase in accounts payable and accrued expenses		34,~~324~~549			102,~~202~~638
Net Cash Used in Operating Activities		(28,~~826~~732	)		~~(19,265~~—	)
Cash Flows from Investing Activities:		—			—
Cash Flows from Financing Activities:		—			—
Net Change in Cash		(28,~~826~~732	)		~~(19,265~~—	)
Cash at beginning of period		219,~~826~~730			192,~~265~~826
Cash at end of period	$	—10,998		$	—2,826
Supplemental Disclosure of
Supplemental Disclosure of Interest and Income Taxes Paid:
Interest and Income Taxes Paid:
Interest paid during the period	$	—		$	—
Income taxes paid during the period	$	—		$	—

The accompanying notes are an integral part of these unaudited ~~condensed~~ financial statements

SMSA Crane Acquisition Corp.

Notes to ~~Unaudited~~ Condensed ~~Financial~~ Financial Statements

~~September~~March 3031, ~~2019~~2020

~~Note A - Basis of Presentation, Background and Description of Business~~(Unaudited)

Note A - Basis of Presentation, Background and Description of Business

~~The~~Background ~~accompanying unaudited condensed financial statements of SMSA Crane Acquisition Corp. have been prepared in accordance with the rules~~ and ~~regulations of the Securities and Exchange Commission,~~ orDescription the SEC, including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited financial statements for the year ended December 31, 2018, included in our Annual Report on Form 10-K for the year ended December 31, 2018.Business

InSMSA ~~the~~Crane ~~opinion~~Acquisition ofCorp. ~~the~~was ~~management of the Company,~~organized ~~all~~on ~~adjustments,~~September ~~which are of a normal recurring nature~~9, ~~necessary~~2009 ~~for~~as a ~~fair~~Nevada ~~statement~~corporation ofto ~~the~~effect ~~results for~~ the ~~three~~reincorporation ~~and~~of ~~nine~~Senior ~~month periods~~Management ~~have~~Services ~~been made. Results for the interim period presented are not necessarily indicative~~ of ~~the~~Crane, ~~results that might be expected for the entire fiscal year~~Inc. ~~When used in these notes~~, ~~the~~a ~~terms~~Texas ~~"Company", "we", "us" or "our" mean SMSA Crane Acquisition Corp~~corporation.

~~Background~~The ~~and~~Company's ~~Description~~business plan is now to pursue a business combination through the acquisition of, ~~Business~~or merger with, an existing company seeking the perceived advantages of being a publicly traded corporation. The Company is not restricting its potential target companies to any specific business, industry or geographical location. No assurances can be given that the Company will be successful in locating or negotiating with any target company.

~~SMSA~~Note ~~Crane~~B ~~Acquisition~~- ~~Corp.~~Change ~~was organized on September 9, 2009 as a Nevada corporation to effect the reincorporation~~ of ~~Senior Management Services of Crane, Inc., a Texas corporation, mandated by the plan of reorganization discussed below.~~Control

~~The~~Coqui, ~~Company's~~the ~~emergence~~principal ~~from~~shareholder ~~Chapter 11~~ of ~~Title 11~~the ofCompany, ~~the~~entered ~~United~~into ~~States~~a ~~Code~~Stock onPurchase ~~August 1~~Agreement, ~~2007~~effective ~~caused~~as aof ~~change~~the in26th ~~majority~~day ~~ownership~~of ~~and~~June, ~~voting~~2017, ~~control~~with -Irwin ~~that~~Eskanos ~~is,~~(“Buyer”). Coqui ~~loss~~agreed ofto ~~control~~sell byto the ~~then-existing~~ ~~stockholders~~Buyer, ~~a court-approved reorganization,~~ and ~~a reliable measure of~~ the ~~entity's~~Buyer ~~fair~~agreed ~~value~~to -purchase ~~resulting~~from ~~in a fresh start~~Coqui, ~~creating, in substance,~~ a ~~new~~total ~~reporting~~of ~~entity. Accordingly~~9, ~~the Company~~947,490 ~~post-bankruptcy,~~shares ~~had~~of nocommon ~~significant~~stock ~~assets,~~of ~~liabilities or operating activities. Therefore,~~ the Company, for as a ~~new~~total ~~reporting~~purchase ~~entity,~~price ~~qualified as a shell company as defined in Rule 405 under the Securities Act~~ of ~~1933~~$250,000. These ~~and~~purchased ~~Rule~~shares ~~12b-2~~represented ~~under~~approximately ~~the~~99% ~~Securities Exchange Act~~ of ~~1934.~~the ~~The~~ Company'’s ~~Plan~~issued ofand ~~Reorganization (the "Plan")~~outstanding ~~was~~shares ~~confirmed~~of byCommon ~~the~~Stock. ~~United~~Concurrent ~~States~~with ~~Bankruptcy~~the ~~Court,~~sale ~~Northern District~~ of ~~Texas~~controlling –interest, ~~Dallas~~Coqui ~~Division~~(“Indemnitor”) onentered ~~August~~into 1,an ~~2007~~Indemnity ~~and~~Agreement with ~~became~~SMSA ~~effective on~~Crane ~~August~~Acquisition ~~10,~~Corp ~~2007~~(“Indemnitee”). OnCoqui ~~November~~agreed 5,to ~~2010~~paid $133,572 of the Company’s ~~entered~~outstanding ~~into~~debts aat or ~~transaction~~prior ~~with~~to ~~Carolyn~~the C.closing ~~Shelton~~of asStock ~~discussed~~Sale. inThe ~~Note~~Company Arecorded ~~and~~Coqui’s aforgiveness ~~Certificate~~ of ~~Compliance~~debt ~~with~~of ~~certain~~$133,572 ~~bankruptcy~~under ~~confirmation~~Additional ~~provisions~~paid ~~was~~in ~~issued~~capital, for by the ~~Bankruptcy~~year ~~Court~~ended onDecember ~~November 10~~31, ~~2010~~2017.

~~The~~On ~~Company's~~June ~~business plan is now to pursue a business combination through the acquisition of~~26, ~~or merger with~~2017, ~~an existing company seeking~~ the ~~perceived~~board ~~advantages~~ of ~~being a publicly~~directors ~~traded~~appointed ~~corporation.~~Irwin ~~The~~Eskanos ~~Company~~as isour ~~not~~new ~~restricting~~sole ~~its~~Director, ~~potential~~President, ~~target~~Secretary, ~~companies~~Treasurer, ~~to any specific business~~CEO, ~~industry~~and ~~or geographical location~~CFO. No ~~assurances~~Following ~~can~~these beappointments, ~~given~~the ~~that~~board accepted the ~~Company~~resignation ~~will~~of beCarmen ~~successful~~I. inBigles ~~locating~~as orour ~~negotiating~~former ~~with~~sole ~~any~~officer ~~target~~and ~~company~~director.

Note BC – Going Concern

We have incurred recurring losses since ~~inception~~ inception and expect to continue to incur losses as a result of legal and professional fees and our corporate general and administrative expenses. Our net losses incurred for the ~~nine~~years three months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019, amounted to approximately $613,~~150~~281 and $292,~~467,~~638 respectively, and working capital (deficits) were $7189,~~630~~682 and $6576,~~480~~401 at ~~September 30~~March 31, ~~2019~~2020 and December 31, ~~2018~~2019, respectively. As a result, there is substantial doubt about our ability to continue as a going concern. In the event that we are unable to generate sufficient cash from our operating activities or raise additional funds, we may be required to delay, reduce or severely curtail our operations or otherwise impede our on-going business efforts, which could have a material adverse effect on our business, operating results, financial condition ~~and~~ and long-term prospects. The Company expects to seek to obtain additional funding through future equity issuances. There can be no ~~assurance~~ assurance as to the availability or terms upon which such financing and capital might be available.

6Note D - Summary of Significant Accounting Policies and Recent Accounting Pronouncements

~~Note~~Use ~~C - Summary~~ of ~~Significant Accounting Policies and Recent Accounting Pronouncements~~Estimates

~~Use~~The preparation of ~~Estimates~~financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the valuation of deferred tax assets. Actual results could differ from those estimates.

~~The~~Cash ~~preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates~~ and ~~assumptions that~~Cash affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the valuation of deferred tax assets. Actual results could differ from those estimates.Equivalents

~~Cash~~The Company considers all cash on hand and ~~Cash~~in ~~Equivalents~~banks, certificates of deposit and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents.

The Company considers all cash on hand and in banks, certificates of deposit and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents.6

~~Income~~SMSA ~~Taxes~~Crane Acquisition Corp.

~~The~~Notes ~~Company~~to ~~files~~Financial ~~income tax returns in the United States of America and various states, as appropriate and applicable.~~Statements

~~The~~March ~~Company accounts for income taxes using the asset and liability method in accordance with ASC 740~~31, ~~“Income~~2020 Taxes.” The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

~~The Company has adopted the provisions of ASC 740-10 "Accounting for Uncertain~~ Income Tax Positions." The Codification Topic requires the recognition of potential liabilities as a result of management's acceptance of potentially uncertain positions for income tax treatment on a "more-likely-than-not" probability of an assessment upon examination by a respective taxing authority. As a result of the implementation of Codification's Income Tax Topic, the Company did not incur any liability for unrecognized tax benefits.Taxes

~~Income~~The ~~(Loss)~~Company ~~Per~~files ~~Share~~income tax returns in the United States of America and various states, as appropriate and applicable.

~~Basic~~The ~~earnings~~Company ~~(loss)~~accounts ~~per~~for ~~share~~income istaxes using ~~computed~~the asset and liability method in accordance with ASC 740 “Income Taxes.” The asset and liability method provides that bydeferred ~~dividing~~tax assets and liabilities are recognized for the ~~net~~expected ~~income~~future ~~(loss)~~tax ~~available~~consequences toof ~~common~~temporary ~~stockholders~~differences bybetween the ~~weighted-average~~financial reporting ~~number~~and tax basis of ~~common~~assets ~~shares~~and ~~outstanding~~liabilities, ~~during~~and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the ~~respective~~currently ~~period~~enacted ~~presented~~tax inrates ~~our~~and ~~accompanying~~laws. ~~financial~~The ~~statements~~Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

~~Fully~~The ~~diluted~~Company ~~earnings~~has ~~(loss)~~adopted ~~per~~the ~~share~~provisions of isASC 740-10 "Accounting for Uncertain Income Tax Positions." The Codification Topic requires the recognition of potential ~~computed~~liabilities ~~similar~~as toa ~~basic~~result of management's acceptance of potentially uncertain positions for income ~~(loss)~~tax ~~per~~treatment ~~share~~on ~~except~~a ~~that~~"more-likely-than-not" probability ~~the~~of ~~denominator~~an isassessment ~~increased~~upon toexamination ~~include~~by a respective taxing authority. As a result of the ~~number~~implementation of ~~common~~Codification's ~~stock~~Income Tax ~~equivalents~~Topic, the Company did not incur any liability for unrecognized tax benefits.

~~Common~~Income stock equivalents represent the dilutive effect of the assumed exercise of outstanding stock warrants, options or convertible securities, using the if-converted method, and only if the common stock equivalents are considered dilutive based upon the Company's net income (~~loss~~Loss) ~~position.~~Per Share

AsBasic ofearnings ~~September~~(loss) ~~30,~~per ~~2019~~share ~~and~~is ~~December 31,~~computed ~~2018,~~by dividing the ~~Company~~net ~~had~~income no(loss) ~~outstanding~~available ~~stock~~to ~~warrants,~~common ~~options~~stockholders orby ~~convertible~~the ~~securities~~weighted-average ~~which~~number ~~could~~of becommon ~~considered~~shares ~~dilutive~~outstanding ~~for purposes~~during of the ~~loss~~respective ~~per~~period ~~share~~presented ~~calculation~~in our accompanying financial statements.

~~Recently~~Fully ~~Adopted~~diluted ~~Accounting~~earnings ~~Pronouncements~~(loss) per share is computed similar to basic income (loss) per share except that the denominator is increased to include the number of common stock equivalents.

~~Management~~Common ~~does~~stock ~~not~~equivalents ~~believe~~represent ~~that~~the dilutive ~~any~~effect ~~recently~~of ~~issued~~the assumed exercise of outstanding stock warrants, ~~but~~ ~~not~~options ~~yet~~or ~~effective~~convertible securities, ~~accounting~~using ~~standards~~the if-converted ~~currently~~method, and ~~adopted~~only ~~would~~if ~~have~~the acommon ~~material~~stock ~~effect~~equivalents onare considered dilutive based upon the ~~accompanying~~Company's ~~financial~~net ~~statements~~income (loss) position.

7As of March 31, 2020 and December 31, 2019, the Company had no outstanding stock warrants, options or convertible securities which could be considered dilutive for purposes of the loss per share calculation.

~~Note~~Recent DAccounting ~~- Fair Value of Financial Instruments and Fair Value Measurements~~Pronouncements

~~The~~Management ~~carrying~~does ~~amount~~not ofbelieve ~~cash,~~that ~~accounts~~any ~~payable and~~recently ~~accrued~~issued, ~~expenses~~but ~~and~~not ~~due~~yet ~~to stockholder~~effective, ~~approximates~~accounting ~~fair~~standards ~~value~~if ~~due~~currently toadopted ~~the~~would ~~short~~have ~~term~~a ~~nature~~material ofeffect ~~these~~on ~~items and/or~~ the ~~current~~accompanying ~~interest rates~~financial ~~payable in relation to current market conditions~~statements.

~~ASC~~Note ~~Topic~~E ~~820,~~- "Fair Value ~~Measurements and Disclosures,” requires disclosure~~ of ~~the fair value of financial instruments held by the Company. ASC Topic 825, "~~Financial Instruments~~," defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair~~ ~~value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables~~ and ~~current~~Fair ~~liabilities~~Value each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:Measurements

·	Level 1:	Observable inputs such as quoted prices in active markets;
·	Level 2:	Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
·	Level 3:	Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The carrying amount of cash, accounts payable and accrued expenses and due to shareholder, approximates fair value due to the short term nature of these items and/or the current interest rates payable in relation to current market conditions.

~~Note~~ASC ETopic 820, "Fair Value Measurements and Disclosures," requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, "Financial Instruments," defines fair value, and establishes a three-level ~~Related~~valuation ~~Party~~hierarchy ~~Transactions~~for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

Due to Shareholder

·	Level 1:	Observable inputs such as quoted prices in active markets;

·	Level 2:	Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

·	Level 3:	Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

As of September 30, 2019 and December 31, 2018, the Company owes $46,615 and $46,615, respectively, to Mr. Irwin Eskanos, the principal shareholder of the Company, for the funding of its current operating expenses. The amount owing is unsecured, non-interest bearing, and due on demand.7

~~Note~~SMSA FCrane -Acquisition ~~Concentration of Credit Risk~~Corp.

AtNotes ~~times~~to ~~cash~~Financial ~~deposited with financial institutions may exceed federally insured limits. The Company has not experienced any losses in such accounts through September 30, 2019.~~Statements

~~Note~~March G31, -2020 ~~Contingencies~~

~~The~~Note ~~Company's~~F ~~business~~- ~~plan~~Related isParty now to pursue a business combination through the acquisition of, or merger with, an existing company seeking the perceived advantages of being a publicly traded corporation. No assurances can be given that the Company will be successful in pursuing a business combination in the near future or at all.Transactions

~~Note~~Due H-to ~~Stockholders' Deficit~~Shareholder

~~Pursuant~~As ~~to our Articles~~ of ~~Incorporation,~~March ~~our~~31, ~~board~~2020 ~~has~~and ~~the~~December ~~authority~~31, ~~without further stockholder approval~~2019, ~~to provide for~~ the ~~issuance~~Company ofowes up$81,615 toand 10$81,~~000~~615,~~000~~ ~~shares~~respectively, ~~of our preferred stock in one or more series and~~ to ~~determine~~Mr. ~~the~~Irwin ~~dividend rights~~Eskanos, ~~conversion~~the ~~rights,~~principal ~~voting~~shareholder ~~rights, rights in terms~~ of the ~~redemption~~Company, ~~liquidation preferences,~~for the ~~number~~funding of ~~shares~~its ~~constituting~~current ~~any~~operating ~~such series and the designation of such series~~expenses. ~~Our~~The ~~board~~amount ~~has~~owing ~~the~~is ~~power to afford preferences~~unsecured, ~~powers~~ ~~and~~non-interest ~~rights (including voting rights) to the holders of any preferred stock preferences~~bearing, ~~such rights~~ and ~~preferences~~due ~~being~~on ~~senior to the rights of holders of common stock~~demand.

~~There were~~Note noG ~~common~~- ~~shares~~Concentration ~~issued~~of orCredit ~~cancelled during the nine months ended September 30, 2019 or 2018.~~Risk

~~There~~At ~~were~~times nocash ~~preferred~~deposited ~~shares~~with ~~issued and~~financial ~~outstanding~~institutions atmay ~~September~~exceed ~~30,~~federally ~~2019~~insured ~~or December 31, 2018~~limits. ~~There~~The ~~were~~Company ~~10,047,495~~has ~~shares~~not ofexperienced ~~common~~any ~~stock~~losses ~~with~~in asuch ~~par~~accounts ~~value~~through ~~$0.001~~March ~~issued and outstanding as of September 30, 2019 and December~~ 31, ~~2018~~2020.

Note IH - ~~Subsequent Events~~Contingencies

InThe ~~accordance~~Company's ~~with~~business ~~ASC~~plan ~~855-10,~~is ~~Company~~now ~~management~~to ~~reviewed~~pursue ~~all~~a ~~material~~business ~~events~~combination through the ~~date~~acquisition of, or merger with, an existing company seeking the ~~issuance~~perceived advantages of ~~these~~being a ~~financial~~publicly ~~statements~~traded ~~and~~corporation. ~~determined~~No assurances can be given that ~~there~~the ~~are~~Company nowill ~~additional material~~be ~~subsequent~~successful ~~events~~in topursuing ~~report,~~a ~~except~~business ascombination ~~noted~~in the near future or at all.

~~During~~Note October 2019, the Company received a loan of $35,000 from Mr. Irwin Eskanos, the principal shareholder of the Company, for the funding of its current operating expenses. The amount owing is unsecured, nonI-~~interest~~ ~~bearing,~~Stockholders' ~~and due on demand.~~Deficit

8Pursuant to our Articles of Incorporation, our board has the authority, without further stockholder approval, to provide for the issuance of up to 10,000,000 shares of our preferred stock in one or more series and to determine the dividend rights, conversion rights, voting rights, rights in terms of redemption, liquidation preferences, the number of shares constituting any such series and the designation of such series. Our board has the power to afford preferences, powers and rights (including voting rights) to the holders of any preferred stock preferences, such rights and preferences being senior to the rights of holders of common stock.

There were no common shares issued or cancelled during the three months ended March 31, 2020 or 2019.

There were no preferred shares issued and outstanding at March 31, 2020 or December 31, 2019. There were 10,047,495 shares of common stock with a par value $0.001 issued and outstanding as of March 31, 2020 and December 31,2019.

Note J – Subsequent Events

In accordance with ASC 855-10, Company management reviewed all material events through the date of the issuance of these financial statements and determined that there are no additional material subsequent events to report, except as noted.

During May 2021, the Company received a loan of $20,000 from a third party for the funding of its current operating expenses. The amount owing is unsecured, non-interest bearing, and due on demand.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.” These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

Overview

Our business plan is to pursue a business combination through the acquisition of, or merger with, an existing company seeking the perceived advantages of being a publicly traded corporation. We are not restricting our potential target companies to any specific business, industry or geographical location. No assurances can be given that we will be successful in locating or negotiating with any target company.

Our continued existence is dependent upon our ability to generate new financing or sufficient cash flows to continue our reporting obligations to the Securities and Exchange Commission on a timely basis. We can provide no assurance that we will achieve a business combination through the acquisition of, or merger with, an existing company. We currently do not have any firm arrangements for financing and we may not be able to obtain financing when required, in the amounts necessary to execute on our plans in full, or on terms which are economically feasible.

Expected Changes In Number of Employees, Plant, and Equipment

We do not currently plan to purchase specific additional physical plant and significant equipment within the immediate future. We do not currently have specific plans to change the number of our employees during the next twelve months.

Results of Operations

For the three ~~and nine~~ months ended ~~September~~ 30March 31, ~~2019~~2020 and ~~2018~~2019

Revenue

The Company had no revenue for the three ~~and~~ ~~nine~~ months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019.

Operating Expenses

The following table presents our total ~~operating~~ operating expenses for the three ~~and nine~~ months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019:

	Three months ended September 30,				Nine months ended September 30,
	Three months ended March 31,
	2019		2018		2019		2018
	2020		2019
Professional fees	$	110,~~056~~986	$	~~649~~1,869	$	~~3,335~~	$	~~23,256~~
Other general and administrative		12,~~160~~295		~~987~~769		~~2,815~~		~~6,211~~
Operating expenses	$	213,~~216~~281	$	12,~~636~~638	$	~~6,150~~	$	~~29,467~~

Operating expenses consist mostly of the ~~maintenance~~ ~~fee~~maintenance fees of the corporate entity and the preparation and filing of reports with the Securities and Exchange Commission. The increase in operating expenses for the three months ended ~~September~~March 3031, ~~2019~~2020 was due to the increase in professional fees and other general and administrative costs compared with period of ~~2018. The decrease in operating expenses for the nine months ended September 30,~~ 2019 as compared to the nine months ended September 30, 2018, was mainly due to the decrease in professional fees during these periods, as the Company complied with its periodic reporting requirements in 2018 and delayed these expenses in 2019.

Liquidity and Capital Resources

As of ~~September~~March 3031, ~~2019~~2020, the Company had no current assets in the amount of $10,998 consisting solely of cash. On ~~September~~March 3031, ~~2019~~2020, the Company had current liabilities of $71100,~~630~~680, consisting of an amount due to our controlling shareholder of $4681,615, and accounts payable of accrued expenses of $2519,~~015~~065. Our working capital deficit as of ~~September~~March 3031, ~~2019~~2020 was $7189,~~630~~682.

Since its inception, the Company has financed its cash requirements from the sale of common stock and advances from related parties. Uses of funds have included activities to establish our business, professional fees and other general and administrative expenses.

We believe the Company will need ~~additional~~ additional resources to implement its strategic objectives in upcoming quarters. Due to our lack of operating history, however, our auditors have stated in their audit report that there currently exists substantial doubt about our ability to continue as a going concern. As of ~~September 30~~March 31, ~~2019~~2020, the Company has an accumulated deficit of approximately $~~423~~441,~~606~~658. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months.

The ability of the Company to continue as a going concern is dependent upon, among other things, obtaining additional financing to continue its filings with the Securities and Exchange Commission. In response to this and other potential problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The following table provides detailed information about our net cash flow for the periods presented in this Report.

Cash Flow

	Nine months ended September 30,
	Three months ended March 30,
	2019			2018
	2020			2019
Net cash used in operating activities	$	(28,~~826~~732	)	$	~~(19,265~~—	)
Net cash provided by investing activities		—			—
Net cash provided by financing activities		—			—
Net cash inflow (outflow)	$	(28,~~826~~732	)	$	~~(19,265~~—	)

Operating Activities

Cash used in operating activities for ~~the~~ ~~nine~~the three months ended ~~September~~March 3031, ~~2019~~2020, consisted of a net loss of $613,~~150~~281, offset in part by an increase in accounts payable and accrued expenses of $34,~~324~~549. The ~~decrease~~increase in cash used in operating activities during the ~~nine~~three months ended ~~September~~March 3031, ~~2019~~2020, as compared to ~~the~~ the same period in 2019, was due the ~~decrease~~increase in net loss from $292,~~467~~638 in ~~2018~~2019 to $613,~~150~~281 in ~~2019~~2020, ~~and~~offset by a ~~smaller~~slightly larger increase in accounts payable and accrued expenses in ~~2019~~2020.

Investing Activities

Net cash provided by our investing activities for the ~~nine~~three months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 was $0.

Financing Activities

Net cash provided by our financing activities for the ~~nine~~three months ended ~~September~~March 3031, ~~2019~~2020 and ~~2018~~2019 was $0.

Pending our completion of a future potential business combination, we are not conducting any business activities. Our only operating activities are to comply with Securities and Exchange Commission reporting requirements and to seek to complete a business combination through the acquisition of, or merger with, an existing company seeking the perceived advantages of being a publicly traded corporation.

Off Balance Sheet Arrangements

As of ~~September~~March 3031, ~~2019~~2020, there were no off balance sheet arrangements.

Critical Accounting Policies

In December 2001, the SEC requested that all registrants list their most “critical accounting polices” in the Management Discussion and Analysis. The SEC indicated that a “critical accounting policy” is one which is both important to the portrayal of a company’s financial condition and results, and requires management’s most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. We do not believe that any accounting policies currently fit this definition.

Recently Issued Accounting Pronouncements

Our management has considered all recent accounting pronouncements issued since the last audit of our financial statements. Our management believes that these recent pronouncements will not have a material effect on our financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

A smaller reporting company is not required to provide the information required by this Item.

ITEM 4. CONTROLS AND PROCEDURES.

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of ~~September~~March 3031, ~~2019~~2020. This evaluation was carried out under the supervision and with the participation of our Chief ~~Executive~~ Executive Officer and Chief Financial Officer, Irwin Eskanos. Based upon that evaluation, our Chief Executive Officer and Chief Financial ~~Officer~~ Officer concluded that, as of ~~September~~March 3031, ~~2019~~2020, our disclosure controls and procedures are not effective. There have been no changes in our internal controls over financial reporting during the quarter ended ~~September~~March 3031, ~~2019~~2020.

Management determined that the material weaknesses that resulted in controls being ineffective are primarily due to lack of resources and number of employees. Material weaknesses exist in the segregation of duties required for effective controls and various reconciliation and control procedures not regularly performed due to the lack of staff and resources.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act are recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Limitations on the Effectiveness of Internal Controls

Our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material error. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the internal control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.

PART II—OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

None.

ITEM 1A. RISK FACTORS.

A smaller reporting company is not required to provide the information required by this Item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES OR USE OF PROCEEDS.

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.

Exhibit Number		Description of Exhibit
31.1		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101		Materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended ~~September~~March 3031, ~~2019~~2020 formatted in Extensible Business Reporting Language (XBRL)

SIGNATURES

Pursuant to 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.

	SMSA Crane Acquisition Corp.
Date: July 20, 2021	By:	/s/ Irwin Eskanos
Date: September 23, 2021	By:	/s/ Irwin Eskanos
	Name:	Irwin Eskanos
	Title:	Chief Executive Officer,
		Chief Financial Officer, and Director

Filing Compare · SMSA CRANE ACQUISITION CORP.