Mon, May 20, 8:08 PM (299 days ago)
Vector 21 Holdings, Inc. reported no revenue for the quarters ended March 31, 2024, and 2023. The company incurred operating losses of $5,462 and $10,479 for the respective quarters, primarily due to general and administrative expenses. For the nine months ended March 31, 2024, the operating loss was $31,104 compared to $27,537 in the same period of 2023. The net loss for the nine-month period increased from $27,537 in 2023 to $32,139 in 2024. The company’s cash position decreased from $325 to $132, and total liabilities increased from $92,051 to $123,997. The significant increase in liabilities is attributed to higher accounts payable and related party loans. Vector 21 remains a shell company with no revenue-generating operations and is actively seeking a merger. The company’s ability to continue as a going concern is contingent upon securing additional funding. The report highlighted substantial uncertainties, including the impact of inflation and the need for further capital to sustain operations.