2024 Q2 Form 10-Q Financial Statement
#000106594924000052 Filed on April 23, 2024
Income Statement
Concept | 2024 Q2 | 2023 Q4 | 2022 Q4 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $14.38K | ||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $19.42K | $14.38K | |
YoY Change | 35.08% | -24.9% | |
Operating Profit | -$19.42K | -$14.38K | |
YoY Change | 35.08% | -24.9% | |
Interest Expense | $540.00 | ||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$19.96K | -$14.38K | |
YoY Change | 38.84% | -24.9% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$19.96K | -$14.38K | |
YoY Change | 38.84% | -24.9% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.01 | -$0.01 | |
Diluted Earnings Per Share | -$0.01 | -$0.01 | |
COMMON SHARES | |||
Basic Shares Outstanding | 1.697M shares | 1.697M shares | 1.697M shares |
Diluted Shares Outstanding | 1.697M shares | 1.697M shares |
Balance Sheet
Concept | 2024 Q2 | 2023 Q4 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $530.00 | ||
YoY Change | |||
Cash & Equivalents | $52.00 | $162.00 | $525.00 |
Short-Term Investments | |||
Other Short-Term Assets | $2.750K | ||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $2.750K | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $52.00 | $162.00 | $3.275K |
YoY Change | -84.0% | -95.05% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $52.00 | $162.00 | $3.275K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $52.00 | $162.00 | $3.275K |
YoY Change | -84.0% | -95.05% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $22.92K | ||
YoY Change | |||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $54.87K | ||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $132.1K | $118.2K | $77.79K |
YoY Change | 43.45% | 51.9% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | ||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | ||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $132.1K | $118.2K | $77.79K |
Total Long-Term Liabilities | $0.00 | ||
Total Liabilities | $132.1K | $118.2K | $77.79K |
YoY Change | 43.45% | 51.9% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$17.81M | -$17.79M | -$17.75M |
YoY Change | 0.23% | 0.25% | |
Common Stock | $17.67M | $17.67M | $170.00 |
YoY Change | 0.0% | 10395924.71% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$132.0K | -$118.0K | -$74.52K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $52.00 | $162.00 | $3.275K |
YoY Change | -84.0% | -95.05% |
Cashflow Statement
Concept | 2024 Q2 | 2023 Q4 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$19.96K | -$14.38K | |
YoY Change | 38.84% | -24.9% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | $16.69K | ||
YoY Change | |||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | $0.00 | ||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -16.17K | ||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | 16.69K | ||
Cash From Investing Activities | 0.000 | ||
Cash From Financing Activities | -16.17K | ||
Net Change In Cash | 520.0 | ||
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | $16.69K | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-12-31 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
VECTOR 21 HOLDINGS, INC. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
88-1065560 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
12136 West Bayaud Avenue | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Suite 300 | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Lakewood | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
CO | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
80228 | ||
dei |
Local Phone Number
LocalPhoneNumber
|
303-422-8127 | ||
dei |
City Area Code
CityAreaCode
|
303 | ||
dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | ||
dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | ||
dei |
Entity Shell Company
EntityShellCompany
|
true | ||
CY2024Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
1697200 | shares |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
162 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
325 | usd |
CY2023Q4 | us-gaap |
Assets Current
AssetsCurrent
|
162 | usd |
CY2023Q2 | us-gaap |
Assets Current
AssetsCurrent
|
325 | usd |
CY2023Q4 | us-gaap |
Assets
Assets
|
162 | usd |
CY2023Q2 | us-gaap |
Assets
Assets
|
325 | usd |
CY2023Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
43201 | usd |
CY2023Q2 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
33912 | usd |
CY2023Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
118160 | usd |
CY2023Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
92051 | usd |
CY2023Q4 | us-gaap |
Liabilities
Liabilities
|
118160 | usd |
CY2023Q2 | us-gaap |
Liabilities
Liabilities
|
92051 | usd |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1697200 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1697200 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1697200 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1697200 | shares |
CY2023Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
170 | usd |
CY2023Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
170 | usd |
CY2023Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
17673072 | usd |
CY2023Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
17673072 | usd |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-17791240 | usd |
CY2023Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-17764968 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-117998 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-91726 | usd |
CY2023Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
162 | usd |
CY2023Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
325 | usd |
CY2023Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
19418 | usd |
CY2022Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
14375 | usd |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
25642 | usd | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
17058 | usd | |
CY2023Q4 | us-gaap |
Operating Expenses
OperatingExpenses
|
19418 | usd |
CY2022Q4 | us-gaap |
Operating Expenses
OperatingExpenses
|
14375 | usd |
us-gaap |
Operating Expenses
OperatingExpenses
|
25642 | usd | |
us-gaap |
Operating Expenses
OperatingExpenses
|
17058 | usd | |
CY2023Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-19418 | usd |
CY2022Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-14375 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-25642 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-17058 | usd | |
CY2023Q4 | us-gaap |
Interest Expense
InterestExpense
|
540 | usd |
us-gaap |
Interest Expense
InterestExpense
|
630 | usd | |
CY2023Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-19958 | usd |
CY2022Q4 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-14375 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-26272 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-17058 | usd | |
CY2023Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19958 | usd |
CY2022Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14375 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-26272 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-17058 | usd | |
CY2023Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1697200 | shares |
CY2022Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1697200 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1697200 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1697200 | shares | |
CY2023Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | |
CY2022Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | ||
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-98040 | usd |
CY2023Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19958 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-117998 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-60140 | usd |
CY2022Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14375 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-74515 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-91726 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-26272 | usd | |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-117998 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-57457 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-17058 | usd | |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-74515 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-26272 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-17058 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-3208 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
9289 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
514 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-16983 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-13336 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
16190 | usd | |
us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
4861 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
630 | usd | |
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
9000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
16820 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
13861 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-163 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
525 | usd | |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
325 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
162 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
525 | usd |
us-gaap |
Notes Issued1
NotesIssued1
|
41110 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>NOTE 1. NATURE OF OPERATIONS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>Nature of Business</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Vector 21 Holdings, Inc., a Delaware corporation, (“Vector 21”, “the Company”, “We", "Us" or “Our’) is a publicly quoted shell company seeking to merge with an entity with experienced management and opportunities for growth in return for shares of our common stock to create values for our shareholders. No potential merger candidate has been identified at this time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>History</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Vector 21 was incorporated in Delaware on March 5, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Effective April 28, 2021, following a corporate reorganization as described below (‘the Holding Company Reorganization” or ‘the reverse recapitalization”), Vector 21 became the reorganized successor to Momentum Biofuels, Inc. (“Predecessor Company”), a publicly quoted holding company that ceased trading in 2012.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Reorganization into a Holding Company Structure for Vector 21 Holdings, Inc., reorganization successor to Momentum Biofuels, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Effective March 10, 2021, Momentum Biofuels, Inc. (“Momentum Biofuels Colorado”), a Colorado corporation, redomiciled to Delaware by merging with its wholly owned subsidiary, Momentum Biofuels, Inc., a Delaware corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Momentum Biofuels Colorado ceased to exist as an independent legal entity following its merger with Momentum Biofuels Delaware.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Pursuant to the Delaware Holding Company formation statute, DGCL Section 251(g), Momentum Biofuels Delaware entered into an Agreement and Plan of Merger and Reorganization into a Holding Company with Vector 21 Holdings, Inc. (“Vector 21”) and MBF Ops, Inc. (“MBF Ops.”), both wholly owned subsidiaries of Momentum Biofuels Delaware, effective April 28, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Agreement and Plan of Merger and Reorganization into a Holding Company provided for the merger of Momentum Biofuels Delaware with, and into MBF Ops., with MBF Ops. being the surviving corporation in the merger, as a subsidiary to Vector 21.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Momentum Biofuels Delaware ceased to exist as an independent legal entity following its merger with MBF Ops.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The shareholders of Momentum Biofuels Delaware were converted, by the holding company reorganization, under the Agreement, to shareholders of Vector 21 on a one for one basis pursuant to the Agreement and the Delaware Statute Sec. 251(g).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">MBF Ops., the surviving company of the merger with Momentum Biofuels Delaware, became a wholly owned subsidiary of Vector 21, the holding company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Vector 21 became the parent holding company resulting under the Agreement, pursuant to Delaware General Corporation Law section 251(g), with its wholly owned subsidiary company, MBF Ops, the surviving company of the merger with Momentum Biofuels Delaware.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As a result of the Holding Company Reorganization, shareholders in the publicly quoted Momentum Biofuels Delaware, formerly the shareholders of Momentum Biofuels Colorado as of the date of the reorganization, became shareholders in the publicly quoted Vector 21.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">MBF Ops, being the direct successor by the merger with Momentum Biofuels Delaware, became a subsidiary company of Vector 21.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><i>Disposal of MBF Ops.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Effective June 28, 2021, Vector 21 disposed of 100% of the issued share capital of its sole subsidiary company, MBF Ops., to an unrelated third party. We made a $1,000 payment in cash and promised to issue 50,000 post-split shares of our common stock to the company (MBF) as capital for the subsidiary company which had no ongoing business or assets and outstanding liabilities of $1,130,842. These shares of common stock have been issued to the Purchaser as of the date of these financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><br/> The Holding Company Reorganization has been accounted for so as to reflect the fact that both Momentum Biofuels Delaware and Vector 21 were under common control at the date of the Holding Company Reorganization.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Reverse and Forward Stock Splits</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Effective May 13, 2021, we completed:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Cambria, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px"><span style="font-size: 10pt"> </span></td> <td style="width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a reverse stock split of our outstanding common stock, $0.0001 par value, on a one (1) post-split share for eight thousand (8,000) pre-split shares basis, and subsequently</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Cambria, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 48px"><span style="font-size: 10pt"> </span></td> <td style="width: 24px; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">a forward stock split of our post reverse split outstanding common stock, $0.0001 par value, on a one hundred (100) post-split shares for one (1) pre-split share basis.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As a result of the 8,000: 1 reverse stock split described above, the number of issued and outstanding shares of the Company’s common stock was reduced from 123,224,444 to 15,403. No fractional shares were issued in connection with the reverse stock split. Instead, a holder of record of common stock who would otherwise be entitled to a fraction of a share was, in lieu thereof, entitled to receive a whole share of common stock. Consequently 1,069 additional shares were issued in respect of fractional shares and therefore a total of 16,472 shares of common stock were issued and outstanding after the reverse split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As a result of 1:100 forward stock split described above, the number of issued and outstanding shares of the Company’s common stock increased from 16,472 to 1,647,200.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt; background-color: white">A total of 1,697,200 shares of common stock are currently outstanding on the date of the filing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"><b>Impact of the Ukrainian and Israeli Conflicts</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"> </span></p> <p style="font: 12pt Cambria, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We believe that the conflicts involving Ukraine and Israel do not have any direct impact on our operations, financial condition, or financial reporting. We believe the conflicts will have only a general impact on our operations in the same manner as it is having a general impact on all businesses that have their operations limited to North America resulting from international sanction and embargo regulations, possible shortages of goods and goods incorporating parts that may be supplied from countries involved in the conflicts, supply chain challenges, and the international and US domestic inflation resulting from the conflict and government spending in relation to the conflicts. As we are a shell company, we do not believe we will be targeted for cyber-attacks related to the conflicts. We have no operations in the countries directly involved in the conflict or are specifically impacted by any of the sanctions and embargoes, as we principally operate solely in the United States. We do not believe that the conflicts will have any impact on our internal control over financial reporting. Other than general securities market trends, we do not have reason to believe that investors will evaluate the company as having special risks or exposures related to the conflicts</span><span style="font-size: 10pt">.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"><b>Inflation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">We anticipate that our business and financial position will be impacted by the current inflationary environment. To the extent that we use borrowed funds, we believe costs will increase for us. Access to capital will be impacted by increased interest rates and may affect our ability to obtain capital. Inflation will also have an impact on the cost of supplies of goods and services that we use with the consequence of an adverse impact on our operating costs.</span></p> | ||
CY2021Q2 | vhld |
Sale Of Subsidiary Issued Share Capital Percentage
SaleOfSubsidiaryIssuedShareCapitalPercentage
|
1 | pure |
CY2021Q2 | us-gaap |
Cash
Cash
|
1000 | usd |
CY2021Q2 | us-gaap |
Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
|
50000 | shares |
CY2021Q2 | us-gaap |
Liabilities Average Amount Outstanding
LiabilitiesAverageAmountOutstanding
|
1130842 | usd |
us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
Effective May 13, 2021, we completed: - a reverse stock split of our outstanding common stock, $0.0001 par value, on a one (1) post-split share for eight thousand (8,000) pre-split shares basis, and subsequently - a forward stock split of our post reverse split outstanding common stock, $0.0001 par value, on a one hundred (100) post-split shares for one (1) pre-split share basis. As a result of the 8,000: 1 reverse stock split described above, the number of issued and outstanding shares of the Company’s common stock was reduced from 123,224,444 to 15,403. No fractional shares were issued in connection with the reverse stock split. Instead, a holder of record of common stock who would otherwise be entitled to a fraction of a share was, in lieu thereof, entitled to receive a whole share of common stock. Consequently 1,069 additional shares were issued in respect of fractional shares and therefore a total of 16,472 shares of common stock were issued and outstanding after the reverse split.As a result of 1:100 forward stock split described above, the number of issued and outstanding shares of the Company’s common stock increased from 16,472 to 1,647,200. | ||
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1697200 | shares |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-26272 | usd | |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-17791240 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>Use of Estimates</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The preparation of financial statements in conformity with GAAP 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. Actual results could differ from those estimates.</span></p> | ||
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
162 | usd |
CY2023Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
325 | usd |
us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
|
0.50 | pure | |
CY2023Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
43201 | usd |
CY2023Q2 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
33912 | usd |
vhld |
Accounting Fee
AccountingFee
|
4612 | usd | |
us-gaap |
Professional Fees
ProfessionalFees
|
5000 | usd | |
us-gaap |
Principal Transactions Revenue
PrincipalTransactionsRevenue
|
16190 | usd | |
CY2023Q4 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
630 | usd |
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001916879 | ||
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1697200 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1697200 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1697200 | shares |
CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
1697200 | shares |
CY2023Q4 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2023Q4 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--06-30 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 |