The last vehicle sold was in December 1998, and all operations ceased on July 31, 1999. The E-mail message field is required. Weintraub caused us in July 2000 to effect a 1 for 100 reverse stock split. After selling a total of 13 cars, 45 people were employed. These financial statements are the responsibility ofCompanys management. Only one prototype of each model was built. At the date of this report, we have no operations.
Wiegert appealed the verdict, and AutoWeek settled to keep legal bills from mounting. This valuation is not based upon any actual trading market, which did not exist at the date of the transaction and therefore was arbitrarily determined by management. During its lifespan, it got over 100,000 miles 160,000 km on its odometer, the most of any concept yet. Lamborghini did not fulfill its contracted delivery of motors due primarily to Vector's inability to pay for them. In our opinion, the financial statements referred to above presentfairly, in all material respects, the financial position of Vector Holdings Corporation formerly Vector Aeromotive Corporation as of December 31, 1999 and 1998, and the resultsof its operations, its changes in stockholders equity deficit and its cash flowsfor the years then ended in conformity with generally accepted accounting principles.
Founder Gerald Wiegert planned for it to have a range of engines up to a 1000 hp 746 kW 7. Twenty-two Vector model W8 automobiles were produced and sold between 1988 and 1993. In connection with this agreement, we granted American Dream an option exercisable to purchase 60,000,000 shares of our common stock, which option was granted in consideration for certain advances and funding from American Dream, which they paid principally to third party vendors. Vector Car had been a development stage company from its formation in 1978 through the complete cessation of our automotive business during 1999. The 60,000,000 shares have demand registration rights. Zoecon has experience in this type of market their product Precor.
None of these plans came to fruition, however, as Wiegert's planned production run never started. Dan later resigned from the board and was replaced by George, another associate of Gerry. Effective on July 11, 2000, we resolved to satisfy Americans note which had been sold and assigned to Allen Weintraub and his affiliates on December 27, 1999 see Note 2 to Notes to Financial Statements by agreeing to issue a total of 4,096,576 restricted common stock to Americans assignee, Allen Weintraub, Scott Curtis and Timothy Owens, and others, in connection with the acquisition of control. The authors approach management control from an accounting perspective as they discuss issues of performance measurement and evaluation in detail. Vector is credited by some as first attempt to compete with European performance car manufacturers like , , and. Their unique treatment of the subject is thorough, logical, and easy-to-read, and is perfect for upper level undergraduates, postgraduates and practising professionals. Their major competition, Ferrari and Lamborghini, took up 75% of the market share.
According to one story, Lamborghini took a W8 for payment for the engines, but since the W8 in question was still Wiegert's property at the time, he took the case to court. Production of the M12 began in 1995 in , and the car was introduced at the 1996 in , where Vector displayed two examples. We are seeking to become current under reporting requirements of the Exchange Act by the filing the following Reports: our Annual Report for the year ended December 31, 1999; and our Quarterly Reports for the periods ended March 31, 1999, June 30, 1999, September 30, 1999, March 31, 2000, June 30, 2000 and on or before November 15, 2000 our Quarterly Report for September 30, 2000. As of December 31, 1999, American and its successor see below had not exercised the options. Costco Wholesale Corporation entered the wholesale club industry in the early 1980s Tayan, 2003. Determine whether the given lines are skew, parallel or intersecting. By early 1999, only 14 M12s were produced.
However, there are many mapping industry to compete with Waze, such as Trimble Navigation Ltd. Zoecon has experience in this type of market their product Precor. Words: 4837 - Pages: 20. Main article: Wiegert displayed his next version of the Vector at the Geneva Auto Show in 1993. The W2 was extensively covered by many magazines, and it was thoroughly tested by magazine and the automotive television program. Lamborghini did not fulfill its contracted delivery of motors due primarily to Vector's inability to pay for them.
If this book were fiction, I would refer to it as a real page-turner. Compared to the other board members? Write a short report 2—3 pages, 500—800 words that encapsulates answers to the following questions at the end of the case study: 1—7, 10—11, and 14. Diagnostic Products Corporation Bank of the Desert A and B First Commonwealth Financial Corporation 12 Using Financial Results Control in the Presence of Uncontrollable Factors The controllability principle Types of uncontrollable factors Controlling for the distorting effects of uncontrollables Other uncontrollable factor issues Conclusion Olympic Car Wash Hoffman Discount Drugs, Inc. The valuation was arbitrarily determined as there was no trading activity and no market maker entering any quotation for the shares at the date of the transaction. It was alleged that , son of Indonesian strongman and a MegaTech principal, illegally from the company for his own personal gain.
Scalar quantities are treated as ordinary real numbers. These are called vectors if their combination with each other is commutative that is the order of addition may be changed without aecting the result. Suppose that you were hired as a consultant to help the management at Hyten to accept this change. Still, the renamed Vector W8 Twin-Turbo got vast press coverage as a soon-to-be-available Ferrari-beater -- and kept on getting it for more than 10 years. Depreciation is provided over the estimated useful asset lives using the straight-line method.
Estimate The preparation of financial statements in conformity with generally accepted accounting principles 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. Vector built two other models to increase sell volume and decrease losses. The vehicles were produced from 1995 to 1999, when production was halted, partly due to slow sales of the cars and mismanagement of the company. The board members rarely received information prior to their meetings and what information they did receive, just enough was given in order for Wiegart to achieve the conclusion that he wanted. Weintraub has also owned and operated a private gourmet-food distribution business. The adoption of this standard had no material effect on the Company's financial position or results of operations.