Nature of Operations
VANITY EVENTS HOLDING, INC . (the “Company”), was organized as a Delaware Corporation on August 25, 2004, and is in the business of licensing and promotions through its group of touring swimsuit models. The Company is a development stage entity that provides entertainment and attracts attention at events, including swimsuit competitions, calendar signings, and auto shows.
NOTE B—GOING CONCERN/DEVELOPMEMT STAGE ENTITY
The Company is a development stage Company and has not commenced planned principal operations. The Company had no significant revenues and has incurred losses of $1,387,770 for the period August 25, 2004 (inception) to June 30, 2009. These factors raise substantial doubt about the Company’s ability to continue as a going concern.
There can be no assurance that sufficient funds required during the next year or thereafter will be generated from operations or that funds will be available (I THOUGHT STEVEN MOSKOWITZ WAS LOADED STRAPPED WISH CASH?!!) from external sources such as debt or equity financings or other potential sources. The lack of additional capital resulting from the inability to generate cash flow from operations or to raise capital from external sources would force the Company to substantially curtail or cease operations and would, therefore, have a material adverse effect on its business. Furthermore, there can be no assurance that any such required funds, if available, will be available on attractive terms or that they will not have a significant dilutive effect on the Company’s existing stockholders.
The accompanying financial statements do not include any adjustments related to the recoverability of classification of asset-carrying amounts or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern.
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now they are a cleaning service according to their last pr....hmm are the models going to clean houses wearing spongetech.com swimsuits? LOL
AI
