-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RNV2LRAWYkQaxJfLsWXoWerzwSynTsP3abYSdH054+cQL6qdgcm6r5gZXqVDsmPZ DGF7JirsMe/nQEiN+UDRPg== 0001013762-09-001482.txt : 20090814 0001013762-09-001482.hdr.sgml : 20090814 20090814132833 ACCESSION NUMBER: 0001013762-09-001482 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20090630 FILED AS OF DATE: 20090814 DATE AS OF CHANGE: 20090814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Vanity Events Holding, Inc. CENTRAL INDEX KEY: 0001393935 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 432114545 STATE OF INCORPORATION: DE FISCAL YEAR END: 1122 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-52524 FILM NUMBER: 091014148 BUSINESS ADDRESS: STREET 1: 43 WEST 33 RD STREET, SUITE 600 CITY: NEW YORK, STATE: NY ZIP: 10001 BUSINESS PHONE: (212) 695-7850 MAIL ADDRESS: STREET 1: 43 WEST 33 RD STREET, SUITE 600 CITY: NEW YORK, STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: MAP V ACQUISITION, INC. DATE OF NAME CHANGE: 20070321 10-Q 1 form10q.htm FORM 10-Q VANITY EVENTS form10q.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
 
FORM 10-Q
 
(Mark One)
 
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
 
ACT OF 1934
 
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2009
 
OR
 
/ / TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
 
OF 1934
 
FOR THE TRANSITION FROM _______ TO ________.
 
COMMISSION FILE NUMBER 000-52435
 
VANITY EVENTS HOLDING, INC.

(Exact Name of Registrant as Specified in its Charter)
 

 
 
Delaware 
 
43-2114545
 
 
(State or other jurisdiction of  
 
(I.R.S. Employer
 
 
incorporation or organization)
 
Identification No.)
 
         
         
 
43 West 33 rd Street, Suite 600, New York, NY       
 
10001
 
 
(Address of principal executive offices)        
 
(Zip code)
 
 
 
Issuer's telephone number: (212) 695-7850
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter 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 /X/ No / /

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
 
 Large accelerated filer o
Accelerated filer o
   
Non-accelerated filer o
Smaller reporting company x
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]
 
 
 
1

 
 
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
 
DURING THE PRECEDING FIVE YEARS
 
Indicate by check mark whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes / / No / /
 
APPLICABLE ONLY TO CORPORATE ISSUERS
 
State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:  As of August 15, 2009, there were 27,369,807 outstanding shares of the Registrant's Common Stock, $.001 par value.
 
 
 
2

 
 
PART I. FINANCIAL STATEMENTS
 

VANITY EVENTS HOLDING, INC.
JUNE 30, 2009 QUARTERLY REPORT ON FORM 10-Q
 
TABLE OF CONTENTS
 
 
Page
PART I - FINANCIAL INFORMATION
 
   
Item 1. Financial Statements
F-1 
Item 2. Management’s Discussion and Analysis or Plan of Operation
Item 3. Controls and Procedures
   
PART II - OTHER INFORMATION
 
   
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Submission of Matters to a Vote of Security Holders
Item 5. Other Information
 Item 6. Exhibits
7
SIGNATURES


 
3

 
PART I

FINANCIAL INFORMATION

 
ITEM 1.  FINANCIAL STATEMENTS
 


INDEX TO FINANCIAL STATEMENTS


       
  Page
  Financial Statements  
     
 
Balance Sheets as of  June 30, 2009 (Unaudited) and December 31, 2008
F-2
     
 
Statements of Operations for the six months ended June 30, 2009 and  2008,  and August 25, 2004 (inception) to June 30, 2009  (unaudited)
  F-3
     
 
Statements of Operations for the three months ended June 30, 2009 and  2008 (unaudited) 
F-4
     
  Statement of Stockholders’ Equity  for the period August 25, 2004  (inception) to June 30, 2009 (unaudited)   F-5
     
  Statements of Cash Flows for the six months ended June 30, 2009 and 2008, and August 25, 2004 (inception) to June 30, 2009  (unaudited) F-6
     
  Notes to Financial Statements
F-7 - F-12
 
 
 
F-1

 
 
VANITY EVENTS HOLDING, INC.
 ( A Development Stage Company)
BALANCE SHEETS
Unaudited
 
 
   
June 30,
2009
   
December 31,
2008
 
ASSETS
           
CURRENT ASSETS
           
Cash and cash equivalents
  $ 1,092     $ 801  
     Inventory
    2,150       2,150  
     Prepaid expenses
    41,269       0  
 
               
     Total current assets
    44,511    
2,951
 
                 
OTHER ASSETS
               
     Trade mark
    4,996       4,996  
     Photographs
 
44,422
      44,422  
                 
              Total other assets
    49,418       49,418  
                 
                       TOTAL ASSETS
  $ 93,929     $ 52,369  
                 
                 
LIABILITIES AND STOCKHOLDERS’ EQUITY
               
                 
                 
CURRENT LIABILITIES
               
      Bank overdraft
  $ 0     $ 7,186  
      Accounts payable and accrued expenses
    36,514       34,550  
                 
            Total current liabilities
    36,514       41,736  
                 
LONG-TERM LIABILITIES
               
     Loans payable-shareholders
    686,685       314,099  
                 
             Total long-term liabilities
    686,685       314,099  
                 
STOCKHOLDERS’ EQUITY
               
      Preferred stock authorized 5,000,000 shares, $.0001 par value
               
      each. At  June 30, 2009 and December  31, 2008 there are no
               
      shares outstanding
    0       0  
      Common stock authorized 100,000,000 shares, $.0001 par value
               
      each. At June 30, 2009 and December  31, 2008  there are
               
      and 27,369,807 shares outstanding, respectively
    2,736       2,736  
Additional paid in capital
    755,764       755,764  
Deficit accumulated during the development stage
    (1,387,770 )     (1,061,966 )
                 
Total stockholders’ equity (defiency)
    (629,270 )     (303,466 )
                 
               TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
  $ 93,929     $ 52,369  
                 
 

 
The accompanying notes are an integral part of these statements.
 
 
 
F-2

 

VANITY EVENTS HOLDING, INC.
( A Development Stage Company)

 STATEMENTS OF OPERATIONS
Unaudited

 
                 August 25,  
     For the six months ended    
2004, (inception)
 
     June 30, 2009       June 30, 2008      to June 30, 2009  
                   
 
                 
Revenue
  $ 1,592     $ 29,376       194,704  
                         
Cost of Sales
                       
    Model and make-up cost
    0       390       64,545  
                         
        Gross profit
    1,592       28,986       130,159  
 
                       
Operating Expenses
                       
    Salaries
    181,012       1,407       339,125  
    Selling, general and administrative
    146,384       93,674       1,180,398  
                         
          Total operating expenses
    327,396    
__95,081
      1,519,523  
                         
          Net loss from operations
    (325,804 )     (66,095 )     (1,389,364 )
                         
Other income-interest
    0       0       1,594  
                         
                  Net loss
  $ (325,804 )   $ (66,095 )   $ (1,387,770 )
                         
                         
Basic and diluted loss  per common share
  $ (.01 )   $ (.00 )        
                         
Weighted average shares outstanding
    27,369,807       21,392,103          
                         


The accompanying notes are an integral part of these statements
 
F-3

 

VANITY EVENTS HOLDING, INC.
( A Development Stage Company)

STATEMENTS OF OPERATIONS

Unaudited
 
     For the three months  ended  
     June 30, 2009       June 30, 2008  
 
           
Revenue
  $ 92     $ 5,588  
                 
Cost of Sales
               
    Model and make-up cost
    0       45  
                 
        Gross profit
    92       5,543  
 
               
Operating Expenses
               
    Salaries
    113,057       1,407  
    Selling, general and administrative
    73,819       68,751  
                 
          Total operating expenses
    186,876       70,158  
                 
                  Net loss
  $ (186,784 )   $ (64,615 )
                 
                 
Basic and diluted loss  per common share
  $ (.01 )   $ (.00 )
                 
Weighted average shares outstanding
    27,369,807       21,392,103  
                 
                 


The accompanying notes are an integral part of these statements
 
F-4

 

VANITY EVENTS HOLDING, INC.
( A Development Stage Company)

STATEMENT OF STOCKHOLDERS’ EQUITY
Unaudited
 
                                                                                                
 
                                         
      Common Stock        Additional        Deficit Accumulated During Development          
      Shares        Amount        Paid in Capital        Stage       Total  
 
Issuance of common stock for cash
    1,250,284     $ 125     $ (25 )   $ 0       100  
                                         
Net income- inception to December 31, 2004
                            6,803       6,803  
Balance at December 31, 2004
    1,250,284       125       (25 )     6,803       6,903  
                                         
Issuance of common stock for cash
    20,877,373       2,087       229,313               231,400  
                                         
Net loss for the year ended December  31, 2005
                            (95,868 )     (95,868 )
Balance at December 31, 2005
    22,127,657       2,212       229,288       (89,065 )     142,435  
                                         
Issuance of common stock for cash
    4,368,493       437       476,563               477,000  
                                         
Net loss for the year ended December  31, 2006
                            (601,329 )     (601,329 )
Balance at December 31,2006
    26,496,150       2,649       705,851       (690,394 )     18,106  
                                         
Issuance of common stock for cash
    250,057       25       39,975               40,000  
                                         
 Net loss for the year ended December 31, 2007
                            (57,487 )     (57,487 )
Balance at December 31, 2007
    26,746,207       2,674       745,826       (747,881 )     619  
                                         
Issuance of common stock for legal fees
    623,600       62       9,938               10,000  
                                         
Net loss for the year ended December 31, 2008
                             (314,085 )     (314,085 )
Balance at December 31, 2008
    27,369,807       2,736       755,764       (1,061,966 )     (303,466 )
                                         
Net loss for the six months ended
                                       
    June 30, 2009
                            (325,804 )     (325,804 )
Balance at June 30, 2009 (Unaudited)
    27,369,807     $ 2,736     $ 755,764     $ (1,387,770 )   $ (629,270 )
                                         
 
 
The accompanying notes are an integral part of this statement.
 
 
F-5

 
 
 
VANITY EVENTS HOLDING, INC.
( A Development Stage Company)

 STATEMENTS OF CASH FLOWS
Unaudited
 
      For the six months ended       
August 25, 2004,
(inception)
 
      June 30, 2009        June 30, 2008        to June 30, 2009   
OPERATING ACTIVITIES
                       
Net loss
  $ (325,804 )   $ (66,095 )   $ (1,387,770 )
      Issuance of common stock for legal services
    0       0       10,000  
     Changes in operating assets and liabilities:
                       
      Accounts receivable
    (23,514 )     (23,514 )     (23,514 )
      Inventory
    0       (2,150 )     (2,150 )
      Prepaid expenses
    (41,269 )     0       (41,269 )
      Bank overdraft
    (7,186 )     0       0  
      Accounts payable and accrued expenses
    1,964       485       36,514  
                         
                 Cash used by operating activities
    (395,809 )  
(91,274
    (1,408,189 )
 
                       
INVESTING ACTIVITIES
                       
Other assets
    0       (196 )     (49,418 )
                         
            Cash used by investing activities
    0       (196 )     (49,418 )
                         
FINANCING ACTIVITIES
                       
 Proceeds from loans payable-shareholders, net
    396,100       91,000       710,199  
 Issuance of common stock for cash
    0       0       748,500  
                         
             Cash provided by financing activities
    396,100       91,000       1,458,699  
                         
NET  INCREASE  (DECREASE) IN CASH
    291       (470 )     1,092  
                         
CASH BALANCE BEGINNING OF PERIOD
    801       4,825       0  
                         
CASH BALANCE END OF PERIOD
  $ 1,092     $ 4,355     $ 1,092  
                         
Supplemental Disclosures of Cash Flow Information:
                       
        Interest
  $ 0     $ 0     $ 0  
 

 
The accompanying notes are an integral part of these statements
 

 
 
F-6

 

VANITY EVENTS HOLDING, INC.
 
   ( A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2009
 

NOTE A – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1.  
Nature of Operations/ Basis of Presentation

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.

 
Basis of Presentation and Accounting Estimates
The accompanying interim unaudited  financial statements have been prepared in accordance with Form 10-Q instructions and in the opinion of management contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the financial position as of June 30, 2009, and the  results of operations for the six months ended June 30, 2009 and 2008, and August 25, 2004 (inception) to June 30, 2009 and cash flows for the six months ended June 30, 2009 and 2008 and August 25, 2004 (inception) to June 30, 2009.  These results have been determined on the basis of generally accepted accounting principles and practices in the United States and applied consistently as those used in the preparation of the Company's 2008 Annual Report on Form 10-K.
 
 The preparation of financial statements in conformity with generally accepted accounting principles 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. Actual results could differ from those estimates.
 
3.  
Cash Equivalents
 
Investments having an original maturity of 90 days or less that are readily convertible into cash are considered to be cash equivalents. During the period from August 25, 2004 (date of inception) thru June 30, 2009, the Company had no cash equivalents.


 
F-7

 
VANITY EVENTS HOLDING, INC.
 
   ( A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2009

NOTE A – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
 
4.  
Other Assets

Trade marks and photographs are stated at cost and are to be amortized  over their estimated useful lives.

The estimated service lives of  trade marks and photographs  are principally as follows:
 
Trade marks                                       10-15 years
Photographs                                          5- 7 years
 
As of June 30, 2009, the other assets have not been placed in use so there has not been any amortization expensed.

5.  
  Advertising Cost

    Advertising cost are expensed as incurred. Advertising expense totaled $ 4,000 and $ 1,500   for the six months ended June 30, 2009 and 2008 and $ 18,662 from August 25, 2004 (date of inception) to June 30, 2009.


 
F-8

 


VANITY EVENTS HOLDING, INC.
 
   ( A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2009


NOTE A – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
 
6.  
Recently Enacted Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material affect on the accompanying financial statements.

7. Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates.
 
On an ongoing basis, the Company evaluates its estimates, including those related to revenue recognition, accounts receivable allowance, fair value of investments, fair value of acquired intangible assets and goodwill, useful lives of intangible assets and property and equipment, deemed value of common stock for the purpose of determining stock-based compensation, and income taxes, among others. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
 
The Company’s board of directors determines the fair market value of the Company’s common stock in the absence of a public market for these shares.
 

 
 
F-9

 
VANITY EVENTS HOLDING, INC.
 
   ( A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2009
 
 
8.  Fair Value of Financial Instruments

The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities, approximate fair value because of their short maturities.

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 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.

NOTE C--LOSS PER SHARE

           The computation of loss per share is based on the weighted average number of common shares outstanding during the period presented. Diluted loss per common share is the same as basic loss per common share as there are no potentially dilutive securities outstanding (options and warrants).


 
 
F-10

 

VANITY EVENTS HOLDING, INC.
 
   ( A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2009

NOTE D - INCOME TAXES

         The Company  accounts for income taxes using the asset and liability method described in SFAS No. 109, “Accounting For Income Taxes”, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax basis of the Company’s assets and liabilities at the enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance related to deferred tax assets is recorded when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company recorded a deferred income tax asset for the effect of net operating loss carryforwards. In recognition of the uncertainty regarding the ultimate amount of income tax benefits to be derived, the Company has recorded a full valuation allowance at December 31, 2008 and June 30, 2009.
 
NOTE E – RELATED PARTY TRANSACTIONS

The Company has loans payable of $ 710,199 to shareholders at June 30, 2009. The loans are non-interest bearing and are payable on demand.
The Company has no employment contracts in force as of June 30, 2009.
 
NOTE F – COMMON STOCK ISSUANCES

As of December 31, 2004, the Company sold an aggregate of 1,000,000 for an aggregate cash consideration of $100 or for an average price of $.0001 per share.

As of December 31, 2005, the Company sold an aggregate of 16,698,103 shares of common stock for an aggregate of $231,400 or for an average cost $.014 per share.

As of December 31, 2006, the Company sold an aggregate of 3,494,000 for an aggregate cash consideration of $477,000 or for an average price of $.14 per share.

As of December 31, 2007, the Company sold an aggregate of 200,000 for an aggregate cash consideration of $40,000 or for an average price of $.02 per share.

            As of September 30, 2008, the Company issued 623,600 shares of common stock for legal services of $10,000 or for an average price of $ .02 per share.

 
F-11

 
 
VANITY EVENTS HOLDING, INC.
 
   ( A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2009


NOTE G - COMMITMENTS AND CONTINGENCIES

     Lease agreements:
 
The Company currently operates out of leased property located at 43 West 33rd Street, Suite 600, New York, New York. The terms of the lease are month to month by a related party at a monthly lease cost of $1,000.
 
 
F-12

 

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
 
This quarterly report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "our company believes," "management believes" and similar language. These forward-looking statements are based on our current expectations and are subject to certain risks, uncertainties and assumptions, including those set forth in the following discussion and under the heading "- Risk Factors" in our Form 10-KSB for the fiscal year ended December 31, 2007. Our actual results may differ materially from results anticipated in these forward-looking statements. We base our forward-looking statements on information currently available to us, and we assume no obligation to update them. In addition, our historical financial performance is not necessarily indicative of the results that may be expected in the future and we believe that such comparisons cannot be relied upon as indicators of future performance.
 
To the extent that statements in the quarterly report are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, All forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this annual report are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. In addition, the company disclaims any obligation to update or correct any forward-looking statements in all the Company's annual reports and SEC filings to reflect events or circumstances after the date hereof.
 
·
Our ability to attract and retain management, and to integrate and maintain technical information and management information systems;
 
·
Our ability to raise capital when needed and on acceptable terms and conditions;
 
·
        The intensity of competition; and
 
·
        General economic conditions.
 
All written and oral forward-looking statements made in connection with this Form 10-Q that are attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Given the uncertainties that surround such statements, you are cautioned not to place undue reliance on such forward-looking statements for licensing, logos and content images for the mobile phone, computers, apparel, cosmetic industries and other related products of Vanity Events Holding, Inc.
 
VANITY RESULTS OF OPERATIONS
  
SIX MONTHS ENDED JUNE 30, 2009 COMPARED TO THE SIX MONTHS ENDED JUNE 30, 2008
 
This discussion should be read in conjunction with our financial statements included elsewhere in this report. Vanity began active operation on August 25, 2004, and has a fiscal operating year of January 1 to December 31.
 
Revenues for the three months ended June 30, 2009 were $1,592, compared to $29,376 for the six months ended June 30, 2008. The decrease in revenues was primarily a result of little activity.  Vanity had $327,396 in operating expenses for the six months ended June 30, 2009 as compared to $95,081 in operating expenses for the six months ended June 30, 2008. The increase in operating expenses was primarily a result of increased consulting and professional fees.
 
Selling, General and Administrative ("SG&A") expenses consisted primarily of expenses for consulting and professional fees.  For the six months ended June 30, 2009, SG&A was $146,384 compared to $93,674 for the six months ended June 30, 2008.
 
Cost of Sales   were $0 for the six months ended June 30, 2009 as compared to $390 for the six months ended June 30, 2008.  
 
 Net Loss was $325,804 for the six months ended June 30, 2009, as compared to $66,095 for the six months ended June 30, 2008.  The decrease in net loss is principally attributable to salaries and selling, general and administrative cost.
 
Liquidity and Capital Resources:
 
 
 
4

 
 
 
Cash Flows from Operating Activities.   For purposes of reporting cash flows, cash includes demand deposits, time deposits, and short-term cash equivalents with original maturities of three months or less. At June 30, 2009, Vanity had cash and cash equivalents of $1,092, as compared to cash and cash equivalents of $801 as of December 31, 2008. The difference in cash and cash equivalents is primarily attributed to lack of business activity.
 
Liabilities. As of June 30, 2009, Vanity had total current liabilities of $36,514, as compared to $485 for the period ended June 30, 2008.  The difference in total current liability is primarily attributed to monies due vendors.
 
Working Capital.  Working capital at June 30, 2009 is $7,997 as compared to a negative working capital at December 31, 2008 of $(38,785).
 
Off Balance Sheet Arrangements :
 
None.
 
CRITICAL ACCOUNTING ESTIMATES
 
The 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 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.
 
Effect of Recently Issued Accounting Pronouncements
 
Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the accompanying financial statements.
 
Income Taxes
 
None.
 
 
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes appearing in this Report.  Some of the information contained in this discussion and analysis or set forth elsewhere in this Report, including information with respect to our plans and strategy for our business and related financing, includes forward-looking statements that involve risks and uncertainties.  You should review the “Risk Factors” section of this Report for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
 
As a result of the reverse merger described in our current report on Form 8-K (“Form 8-K) filed with the SEC on April 7, 2008, the Company ceased to be a shell company and became involved in numerous expanding lines of business. The Company intends to establish a cleaning service division offering a full range of daily or weekly residential and commercial cleaning services for homes and businesses and to franchise the cleaning company at a national level. The Company also controls, develops, and promotes various consumer and commercial products which it intends to bring to market. In addition, the Company licenses images and promotes merchandise and events worldwide. The Company’s target markets for its licensing business include apparel and apparel accessories, cosmetics, mobile phones, computers, and the Internet.
 
 
N/A.
 
ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures
 
Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e)) under the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time specified in the Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
  
 
 
5

 
 
Pursuant to Rule 13a-15(b) under the Exchange Act the Company carried out an evaluation with the participation of the Company’s management, including Steve Moskowitz, the Company’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the three months ended June 30, 2008.  Based upon that evaluation, the Company’s CEO and CFO concluded that the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in the reports that the Company files or submits under the Exchange Act, is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Company’s management, including the Company’s CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.
 
Changes in internal controls
 
Our management, with the participation our Chief Executive Officer and Chief Financial Officer, performed an evaluation as to whether any change in our internal controls over financial reporting  occurred during the 2008 Quarter ended June 30, 2008.  Based on that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that no change occurred in the Company's internal controls over financial reporting during the 2008 Quarter ended June 30, 2008 that has materially affected, or is reasonably likely to materially affect, the Company's internal controls over financial reporting.
 
 
6

 
 
PART II
 
OTHER INFORMATION
 
ITEM 1 - LEGAL PROCEEDINGS
We are not a party to any pending legal proceeding, nor is our property the subject of a pending legal proceeding, that is not in the ordinary course of business or otherwise material to the financial condition of our business. None of our directors, officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.  
 
ITEM 1A. RISK FACTORS
 
There have been no material changes from the Risk Factors described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2008.
 
ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
 
None.  
 
ITEM 3 - DEFAULTS UPON SENIOR SECURITIES
 
None.
 
ITEM 4 - SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS
 
None.
 
ITEM 5 - OTHER INFORMATION
 
None.
 
There were no material changes to the procedures by which security holders may recommend nominees to the registrant’s board of directors.
 
ITEM 6 - EXHIBITS
Exhibit Number
 
Description
 
31.1
 
Certification by Chief Executive Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act.
     
31.2
 
Certification by Chief Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act.
     
32.1
 
Certification by Chief Executive Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code.
     
32.2
 
Certification by Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code.
     

 
 
7

 
 
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.
 
 
 
 
VANITY EVENTS HOLDING, INC.
 
       
 
By:
/s/  Steven Y. Moskowitz
 
   
Steve Y. Moskowitz
 
   
President and Chief Executive Officer (principal executive officer)
 
       
 
       
 
By:
/s/  Steven Y. Moskowitz
 
   
Steven Y. Moskowitz
 
   
Principal financial and accounting officer
 
       

 
 
 
8
 
 
EX-31.1 2 ex311.htm EXHIBIT 31.1 ex311.htm
EXHIBIT 31.1
 
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
PURSUANT TO SECTION 302 OF THE
SARBANES-OXLEY ACT OF 2002
 
I, Steven Y. Moskowitz, certify that:
 
1.    I have reviewed this quarterly report on Form 10-Q of VANITY EVENTS HOLDING, Inc., for the three months ended June 30, 2009;
 
2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
 4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
 
a)
designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this           report is being prepared;
 
 
b)
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
 
c)
evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

 
d)
disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

 5.    The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):
 
a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
 
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.     

 
     
       
August 14 , 2009
By:
/s/  Steven Y. Moskowitz
 
   
Steven Y. Moskowitz
 
   
President and Chief Executive Officer (principal executive officer)
 
       
EX-31.2 3 ex312.htm EXHIBIT 31.2 ex312.htm
EXHIBIT 31.2
CERTIFICATION OF PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER
PURSUANT TO SECTION 302 OF THE
SARBANES-OXLEY ACT OF 2002
 
I, Steven Y. Moskowitz, certify that:
 
1.    I have reviewed this quarterly report on Form 10-Q of VANITY EVENTS HOLDING, Inc. for the three months ended June 30, 2009;
 
2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
 
a)
designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this           report is being prepared;
 
 
b)
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
 
c)
evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

 
d)
disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

5.    The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):
 
a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and
 
b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls      over financial reporting.

 
     
       
August 14, 2009
By:
/s/  Steven Y. Moskowitz   
 
   
Steven Y. Moskowitz
 
   
Principal Financial Officer
 
       
EX-32.1 4 ex321.htm EXHIBIT 32.1 ex321.htm
Exhibit 32.1
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of VANITY EVENTS HOLDING, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2009 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven Y. Moskowitz Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section     1350 of the Sarbanes-Oxley Act of 2002, that:

(1)  
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)  
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 
     
       
August 14, 2009
By:
/s/  Steven Y. Moskowitz    
 
   
Steven Y. Moskowitz
 
   
President and Chief Executive Officer (principal executive officer)
 
       
EX-32.2 5 ex322.htm EXHIBIT 32.2 ex322.htm
Exhibit 32.2
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of VANITY EVENTS HOLDING, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2009 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Steven Y. Moskowitz, Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:

(1)  
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

     
       
August 14, 2009
By:
/s/  Steven Y. Moskowitz     
 
   
Steven Y. Moskowitz
 
   
Chief Financial Officer
 
       
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