| **UNITED STATES**SECURITIES AND EXCHANGE COMMISSION**Washington, D.C. 20549  **FORM 10-KSB  
[X] ANNUAL REPORT UNDER SECTION 13 OR    15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31,    1998  
[  ] TRANSITION REPORT UNDER    SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1994
For the transition period from _______    to _______
COMMISSION FILE NUMBER: **0-17303**  **VECTOR HOLDINGS CORPORATION
(Name of small business issuer in its    charter)  **Nevada**33-0254334
(State or other jurisdiction    of incorporation)
(IRS Employer Identification    No.)**  ****  ****120 NE 179th    Street, Miami, FL**33179
(Address of    Principal Executive Offices)
(Zip Code)    **(305) 681-5191
(Issuer's    telephone number)    
Securities    registered under Section 12 (b) of the Act: NONE
(Title    of class)    
Securities    registered under Section 12(g) of the Exchange Act: COMMON STOCK, PAR VALUE $.01
(Title    of class)
      
Check    whether the issuer: (i) filed all reports required to be filed by Section 13 or 15(d) of    the Exchange Act during the past 12 months (or for such shorter period that the registrant    was required to file such reports), and (ii) has been subject to the filing requirements    for the past 90 days. Yes [ ] No [X]
Check    if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B    contained in this form, and no disclosure will be contained, to the best of the    registrant's knowledge, in definitive proxy or information statements incorporated by    reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. [**X**]
Issuer’s    revenues for its most recent fiscal year: **none**
As of October 25, 2000 there were 1,252,666    shares of the issuer's Common Stock issued and outstanding. The number of shares    outstanding reflects the July 2000 reverse stock split of 1 for 100. There is no active    trading market in the shares of the Issuer’s common stock at the date of the filing    of the Form 10-KSB. The Issuer will seek by filing this report and other reports due under    the Securities Exchange Act of 1934 (the "Exchange Act") to become current and    reporting under the requirements of the Exchange Act. Affiliates of the Issuer own 914,286    shares of the Issuer’s issued and outstanding common stock and the remaining 338,380    shares are held by non-affiliates.(*) 
DOCUMENTS    INCORPORATED BY REFERENCE:
There    are no documents incorporated by reference in this Annual report on Form 10-KSB except for    certain previously filed exhibits identified in Part III, Item 13. 
(*)    Affiliates for the purposes of this Annual Report refer to the officers, directors and/or    persons or firms owning 5% or more of Issuer’s common stock, both of record and    beneficially.
 
**TABLE OF CONTENTS**   
Page
**PART I**
Item 1. Description of Business.2
Item 2. Description of Property.4
Item 3. Legal Proceedings.4
Item 4. Submission of Matters    to a Vote of Security Holders.5   **PART II
Item 5. Market    for Common Equity and Related Stockholder Matters. 5
Item 6. Management's    Discussion and Analysis or Plan of Operation. 6
Item 7. Financial Statements. 8
Item 8. Changes    In and Disagreements With Accountants on Accounting and Financial 18               Disclosure.     **PART III
Item 9. Directors,    Executive Officers, Promoters and Control Persons.19
Item 10. Executive Compensation.19
Item 11. Security    Ownership of Certain Beneficial Owners and Management.19
Item 12. Certain Relationships and    Related Transactions.20
Item 13. Exhibits and Reports on Form 8-K.20
 

 
**PART I**
ITEM 1. DESCRIPTION OFBUSINESS

GENERAL BACKGROUND AND REPORTS UNDER EXCHANGE ACT

Vector Holdings Corporation, formerly Vector Aeromotive Corporation, aNevada corporation, is sometimes referred to herein as "we", "us","our" and the "Company". We are filing this Annual Report for theyears ended December 31, 1999 and 1998, which contains our audited financial statementsfor 1999 and 1998, and also contains complete updated disclosure for the period subsequentto the year ended December 31, 1999 under all items other than the financial statements.We are also filing our several Quarterly Reports that we were required to file under theSecurities Exchange Act of 1934 (the "Exchange Act"), but which we failed tofile in a timely manner. We are seeking to become current under reporting requirements ofthe Exchange Act by the filing the following Reports: our Annual Report for the yearsended December 31, 1999 and 1998; and our Quarterly Reports for the periods ended March31, 1999, June 30, 1999, September 30, 1999, March 31, 2000, June 30, 2000 and on orbefore November 15, 2000 our Quarterly Report for September 30, 2000. 

We were incorporated in September 1987 under the laws of Nevada toacquire substantially all of the assets of Vector Car, the predecessor partnership. VectorCar had been a development stage company from its formation in 1978 through the completecessation of our automotive business during 1999. During this period, we had beenprimarily engaged in the design, manufacture and assembly of exotic sports cars knownunder the Vector trade name. Twenty-two Vector model W8 automobiles were produced and soldbetween 1988 and 1993. Production of the Vector W8 was ceased in early 1993. 

During fiscal years 1992 and 1993, as an automotive company, wedeveloped design concept specifications for a new automobile type known as the Avtech SC.During 1993 to 1995 our resources were applied to the design, development, marketing andmanufacture of the Avtech SC. We developed a prototype automobile, the M12, which weexhibited in January 1996 and our first M12 was completed and sold in March 1996. During1996, the Avtech SC was designed for full-scale production as the Vector M12, and eightproduction models were produced. However, by November 1996 we had insufficient operatingcapital to continue the production after only eight Vector M12's were produced. We soldonly four Vector M12's. During 1999, after a period of inactivity, we were finally forcedto close our production facilities in Green Cove Springs, Florida, and suspendedoperations. See Item 6, Part II, "Management’s Discussion and Analysis and Planof Operation". 

In a transaction dated as of July 22, 1997, we entered into arestructuring agreement with American Dream International, Limited ("AmericanDream"), a Bahamian corporation, and several other related parties pursuant to whichwe were able to resume operations on a limited basis. In connection with this agreement,we granted American Dream an option exercisable to purchase 60,000,000 shares of ourcommon stock, which option was granted in consideration for certain advances and fundingfrom American Dream, which they paid principally to third party vendors. The Option wassubsequently adjusted to an option to purchase 120,000 shares after two different reversestock splits: 1 for 5 reverse split in December 1998, and 1 for 100 reverse split in July2000. The latter reverse stock split was in connection with and following acquisition beAllen Weintraub and his affiliates of control of the Company be the purchase for nominalconsideration of the American Dream option and the American Dream note on December 27,1999. This December 27, 1999 transaction resulted in Allen Weintraub becoming ourpresident, a director and the control shareholder of the Company. See Item 5, Part II,"Market for Common Equity and Related Stockholder Matters" and Item 12, PartIII, "Certain Relationships and Related Transaction".

In connection with our transaction American Dream and related partiesAmerican Dream assumed control of our Board of Directors on July 24, 1997, with theelection of W. R. Welty, T. J. Enright and D. Kordek to fill vacancies on our Board ofDirectors at that date. In addition, an affiliate, V'Power Corporation agreed that, forten years after the exercise by American Dream of the option, which in fact was neverexercised, V’Power agreed to vote for the election of a majority of directorsnominated or designated by American Dream. Messrs. Welty, Enright and Kordek resigned asofficers and directors in July 1999 at which time we had ceased operations and weredormant. Disclosure of the operations and management of our business during the periodfrom 1992 through 1997 is contained in our Annual Report on Form 10-KSB for year ended1997, and is incorporated by reference herein. 

As noted above, on December 27, 1999 Allen Weintraub together withScott Curtis and Timothy Owens acquired for nominal consideration the interests ofAmerican Dream in the Company, including American Dream’s rights under an option andrights to convert American Dream’s note of $748,008 into 4,096,576 shares of CommonStock. This transaction resulted in a change in control of the Company from American Dreamto Allen Weintraub. See Item 5, and the discussion under "Recent Sales ofUnregistered Securities", Note 10-Subsequent Events in Notes to Financial Statements,Item 12, "Certain Relationships and Related Transactions".

LACK OF SUCCESS IN THE EXOTIC SPORTS CAR MARKET

The exotic sports car market in which we sought to operate, whichefforts were not successful, consists of automobiles with suggested retail prices rangingfrom $110,000 to $1,000,000 or above and that are capable of sustained speeds in excess of160 miles per hour. In addition to differentiation from other sports cars by price andspeed, exotic sports cars are distinguished by appearance, driving performance,technologically superior, high performance components, hand manufacturing and limitedproduction. 

Through 1997, we estimated that the worldwide market for exotic sportscars was approximately 3,500 cars per year and that the United States market was 900 peryear. The largest competitor in the United States and world markets was Ferrari at thattime. Other competitors included Aston-Martin and Lamborghini. North American sales ofexotic sports cars are concentrated in large metropolitan areas. In particular, urbanareas of New York, Florida, Texas, California and Illinois account for a large percentageof all sports car sales, including exotic sports cars. We also believed that significantmarkets exist in Western Europe, Southeast Asia and South America. However, because oflimited capital resources and our failure to generate a significant market share, we couldnot compete in this market.

We manufactured the chassis and all body parts at our former 22,500square foot manufacturing, assembly and warehouse facility in Green Cove Springs, FL. Allproduction employees and production operations were terminated at the manufacturingfacility in November, 1996, but limited production continued into 1998 only on a limitedbasis and our sales during 1998 principally involved previously produced models. We closedour Green Cove Springs, FL facility and ceased operation in July 1999. As the result ofour failed automotive business, we have an accumulated deficit through December 31, 1999of $39,426,472.

ITEM 2. DESCRIPTION OFPROPERTIES.

During the fiscal ended December 31, 1998, we leased on amonth-to-month basis 22,500 square feet of office, manufacturing, assembly and warehousespace in Green Cove Springs, FL, at a cost of $6,075 per month from an unrelated party.This facility served as our manufacturing and assembly facility and since August 1997, asour principal executive office. During 1999, we ceased all operations, closed our officesand facilities at Green Cove Springs, FL. At present, we are utilizing limited space atthe offices of our president, Allen Weintraub, in Miami. FL, at no cost to us. This spaceis sufficient for the present because we have no employees, no operations and are simplyengaged in pursuing potential business opportunities. 

ITEM 3. LEGAL PROCEEDINGS

In T-n-A Custom Auto Trim, Inc., v. Vector Aeromotive Corporation (CaseNumber 96-2539-CA-CV-G), filed on or about May 28, 1996, in the Circuit Court, DuvalCounty, Florida, plaintiff brought action for damages for breach of contract arising outof a contract for Custom Trim to provide material and labor for components of automobilesmanufactured by the Company, which never were manufactured. The amount of damages soughtis unspecified and to be determined at trial. The Company had been vigorously defendingthis case, with a jury trial set for April 20,1998. We engaged counsel to defend thisaction and settlement discussions commenced. We do not believe that the action has merit.However, the outcome of this action cannot be determined at this time and it is possiblethat a judgment could have a material and adverse effect upon us. 

There is presently pending an action in the Circuit Court of the 4thJudicial Circuit, Duval County, FL, Mahoney, Adams & Kreiser, P.A. v. VectorAutomotive Corporation, seeking recovery of $35,000 in legal fees. We believe that we havemeritorious defenses against the plaintiff but we cannot at this time determine with anycertainty whether we will prevail on the merits or whether any judgment against us willhave a material adverse effect on us. The amount of damages sought by this defendant isincluded as a liability on our balance sheet. Reference is made to Note 8 to the Notes toCondensed Financial Statements which are included in the Annual Report on Form 10-KSB forthe year ended December 31, 1999.

Other than as described above, we are not a party to any material legalproceedings. 

ITEM4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

No matter was submitted during the fiscal years ended December 31, 1999or 1998 covered by this annual report to a vote security holders through the solicitationof proxies or otherwise.

 
**PART II**
ITEM5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Until September 11, 1996, our Common Stock was traded on the NASDAQSmallCap Market under the symbol VHLD. On September 11, 1996 the National Association ofSecurities Dealers (NASD) delisted our Common Stock from trading on the NASDAQ SmallCapMarket. From September 11, 1996 through April 5, 2000 our Common Stock was traded on theover-the-counter market bulletin board (OTC:BB). On April 6, 2000 our Common Stock wasdelisted from the OTC:BB and limited trading commenced on the "pink sheets".Following the 1 for 100 share recapitalization and the change of our name to VectorHoldings Corporation, the symbol was changed to "VHLD" The following table setsforth the high and low closing bid prices for our Common Stock on the OTC:BB and as ofApril 6, 2000 on the pink sheets for each calendar quarter for the prior two years and thesubsequent interim periods prior to this annual report. Such prices are interdealerprices, without retail markup, markdown or commissions, and may not necessarily representactual transactions.

**CALENDAR 1998**
**High**
**Low**
First Quarter Ending March    31,
$.15
$.0625
Second Quarter Ending June    30,
$.19
$.125
Third Quarter Ending    September 30,
$.12
$.0625
Fourth Quarter Ending    December 31,
$.07
$.06
**CALENDAR 1999**
First Quarter Ending March    31,
$.375
$.30
Second Quarter Ending June    30,
$.375
$.187
Third Quarter Ending    September 30,
$.25
$.17
Fourth Quarter Ending    December 31,
$.187
$.04
**CALENDAR 2000**
First Quarter Ending March    31,
$.50
$.04
Second Quarter Ending June    30,
$.15
$.001
Third Quarter Ending    September 30, (*)
$4.00 
$.001
Period Ending October 11    (*)
$4.00
$4.00
(*) On July    11, 2000, we had a 1 for 100 reverse stock split and the price of the shares reflects this    share recapitalization. The trading market for our shares of common stock is very inactive    and limited.
On October 11, 2000, there were approximately 530 holders of record ofCommon Stock (excluding holders whose securities were held in street or nominee name

From inception to date, we have not paid a dividend on our CommonStock. We currently have no funds from which to pay dividends and as of December 31, 1999and 1998 our Total Stockholders’ Deficit was $2,103,968 and $2,601,512, respectively.We do not expect for the foreseeable future that any dividends will be paid. 

RECENT SALES OF UNREGISTERED SECURITIES

The following information is given with regard to unregisteredsecurities sold by the Company during the past three years, including the dates andamounts of securities sold; the persons or class of persons to whom we sold thesecurities; the consideration received in connection with such sales and if the securitieswere issued or sold other than for cash, the description of the transaction and the typeand amount of consideration received. Each of the following transactions was subsequent tothe 1 for 100 reverse stock split.

**Date**
**Title**
**Amount of    Securities Sold**
**Persons**
**Cash or Non Cash    Consideration**
7/12/2000
Common
714,286 shares
Allen Weintraub(1)
Pursuant to American Dream    Note
7/12/2000
Common
100,000 shares
Scott Curtis(1)
Pursuant to American Dream    Note
7/12/2000
Common
100,000 shares
Timothy Owens(1)
Pursuant to American Dream    Note
7/21/2000
Common 
175,000 shares
Karl Schumer(2)
Services at $.10 per share    or $17,500
9/20/2000
Common
36,000 shares
Francine Holzer(3)
$.50 per share cash    consideration
9/20/2000
Common
20,000 shares
Charles and Carol    Premone(3)
$.50 per shares cash    consideration
9/27/2000
Common
100 sharesFrancine Mahabir(3) 
$1.00 per share cash    consideration   
(1)    The shares issued to Messrs. Weintraub, Curtis and Owens were issued in connection with    the transaction dated December 27, 1999 with American Dream, the conversion of the    American Dream note payable, which was $748,008 at June 30, 2000. The American Dream note    was converted into the right to receive a total of 4,096,576 shares of unregistered common    stock, or $.18 per share, based upon the amount of the American Dream that was converted    into equity. To date 914,286 shares have been issued with a restrictive legend to Messrs.    Weintraub, Curtis and Owens pursuant to Section 4 (2) under the Act. The aggregate value    of the 714,286 shares issued to Mr. Weintraub was $128,571 and the aggregate value of the    100,000 shares issued to each of Messrs. Curtis and Owens was $18,000 each, based upon the    amount of the American Dream note converted. A total of 3,182,290 additional shares may be    issued in connection with the conversion of the American Dream note.
(2)    The 175,000 shares issued to Karl Schumer were issued as compensation for services    provided to us in connection with his serving as an officer and director. The shares were    issued with a legend based upon the exemption provided under Section4 (2) of the Act and    were valued at $.10 per share, the average of the closing bid and asked price of the    shares on the date of transaction. 
(3)    The shares issued and sold for cash consideration to these private investors were sold in    reliance upon the exemption provided under Section 4 (2) of the Act. The cash    consideration paid to the Company was based upon the average of the closing bid and asked    price of the shares on the dates of the transactions. Mr. and Mrs. Premone are the in-laws    of Mr. Weintraub and Mr. Weintraub disclaims any beneficial interest in their shares.
ITEM6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF OPERATIONS

Our historical financial information contained in this Annual Report reflects our prioroperations as an automobile manufacturer, which operations failed and were terminated in1999. As a result, historical financial statements and any summary information containedherein should not be used in evaluating the Company.

GENERAL

We are filing this Annual Report for the years ended December 31, 1999and 1998, which contains our audited financial statements for 1999 and 1998, and alsocontains complete updated disclosure for the periods subsequent to the year ended December31, 1999 under all items other than the financial statements. We are also filingcontemporaneous with this Annual Report our several Quarterly Reports that we wererequired to file under the Securities Exchange Act of 1934 (the "Exchange Act"),but which we failed to file in a timely manner. We are seeking to become current underreporting requirements of the Exchange Act by the filing the following Reports: our AnnualReport for the years ended December 31, 1999 and 1998; and our Quarterly Reports for theperiods 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. 

We are disclosing in this Annual Report for the year ended December 31,1999 that we generated no revenues from our business operations during 1999, nor have wegenerated any revenues since the year ended December 31, 1999. Further at or about the endof the second quarter ended June 30, 1999 we closed our offices in Green Cove Springs, FL.As a result of the cessation of our business operations, as of the date of our filing ofthis Annual Report and the other reports due under the Exchange Act, we are in the processof exploring potential new business opportunities. There can be no assurance that we willbe successful in finding any new business opportunities or conclude any transaction thatwill enable us to become an operating business and generate any operating revenues.

Results of Operations for the years ended December 31, 1999 and 1998

During the year ended December 31, 1999 our continuing businessoperations ceased and we had no operating revenues during the fiscal year. This comparesto revenues of $933,202 during the year ended December 31, 1998. We had a net loss of$497,544 (basic net loss of $.05 per share) for the year ended December 31, 1999 whichcompares to a net loss of $372,625 (basic net loss of $.03 per share) for the year endedDecember 31, 1998. During the year ended December 31, 1999 we incurred operating expensesof $290,266 substantially all of which were incurred during the first and second quartersof fiscal 1999. We had no operations after the end of the quarter ended June 30, 1999. Ouroperating expenses for the year ended December 31, 1998 were $789,058, mainly comprised of$670,041 for general and administrative expenses and $70,532 for marketing, during whichperiod we were under the control of and were effectively operated by American Dream.

Liquidity and Capital Resources

At December 31, 1999 and 1998, we had cash and cash equivalents of $55and $68, respectively. Net cash used in operating activities by us in 1999 and 1998totaled $271,570 and $540,240, respectively. Our sole financing activities during thefiscal year ended December 31, 1999 and 1998 consisted of proceeds from notes payable fromrelated parties totaling $271,557 and $544,054, respectively. During the year endedDecember 31, 1999 we were forgiven debt of $853,057 compared to debt forgiveness of$299,329 in the prior year. The principal components of the 1999 debt forgiveness wasapproximately $525,000 in accounts payable to third party trade creditors and a reductionof approximately $281,000 in legal fees payable, under a settlement agreement. During 1998$250,000 of the debt forgiveness was represented by potential claims against the Companythat were not asserted and have been written off. See Item 7, Financial Statements, andthe Notes to Financial Statements

At December 31, 1999, the Company had an accumulated deficit of$39,426,472. For the year ended December 31, 1999, we had net income of $497,544, that wasdue almost entirely from other income resulting from the debt forgiveness. The net lossfor the year ended December 31, 1998 was $372,625, that was after debt forgiveness ofapproximately $299,000.

The Company had primarily financed its operations through the privateand public sale of equity securities. We did not raise any capital during 1999 and 1998.

NEW ACCOUNTING STANDARDS

In 2000 and 1999, the Company was subject to the provisions ofStatement of Financial Accounting Standards No. 130 ("SFAS 130"),"Reporting Comprehensive Income" and Statement of Financial Accounting StandardsNo. 131 ("SAFA 131"), "Disclosures about Segments of an Enterprise andRelated Information." Neither statement had any impact on the Company's financialstatements as the Company does not have any "comprehensive income" type earnings(losses) and its financial statements reflect how the "key operating decisionsmaker" views the business. The Company will continue to review these statements overtime, in particular SFAS 13 1, to determine if any additional disclosures are necessarybased on evolving circumstances. At the date of this report, we have no operations.

ITEM 7. FINANCIAL STATEMENTS
**VECTOR HOLDINGS CORPORATION**(FORMERLY VECTOR AEROMOTIVE    CORPORATION)   **TABLE OF CONTENTS**   **   PAGEINDEPENDENT    AUDITORS’ REPORT8FINANCIAL STATEMENTSBalance Sheets9Statements    of Operations10Statements    of Changes in Stockholders’ Equity (Deficit)11Statements    of Cash Flows12Notes    to Financial Statements13**INDEPENDENT AUDITORS' REPORT**The Board of DirectorsVector Holdings CorporationP. O. Box 800303Aventura, FL 33280
Members of the Board:

We have audited the accompanying balance sheets of Vector HoldingsCorporation (formerly Vector Aeromotive Corporation) as of December 31, 1999 and 1998 andthe related statements of operations, changes in stockholders’ equity (deficit) andcash flows for the years then ended. These financial statements are the responsibility ofCompany’s management. Our responsibility is to express an opinion on these financialstatements based on our audit.

We conducted our audit in accordance with generally accepted auditingstandards. Those standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. Anaudit includes examining, on a test basis, evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principlesused and significant estimates made by management, as well as evaluating the overallfinancial statement presentation. We believe that our audit provides a reasonable basisfor our opinion.

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.
/s/ Grassano Accounting, P.A.
Boca Raton, Florida, August 17, 2000
**VECTOR    HOLDINGS CORPORATION**(FORMERLY VECTOR AEROMOTIVE CORPORATION)**BALANCE SHEETS DECEMBER 31, 1999 AND 1998**ASSETS**1999**1998CURRENT ASSETS   Cash
$55 
$68    Inventories-
337,467    Receivable-EPA-
34,232    Prepaid Insurance-
1,382      TOTAL    CURRENT ASSETS
55 
373,149 PROPERTY AND EQUIPMENT   Leasehold    Improvements-
22,260    Tooling-
75,000    Machinery and    Equipment-
328,359    Office Furniture and    Equipment-
31,282    Computer Equipment-
8,263 
465,164 Less: Accumulated Depreciation
-
391,244      NET    PROPERTY AND EQUIPMENT
-
73,920 OTHER ASSET   Security Deposits
-
1,850 **           TOTAL ASSETS**
$55 
$448,919 **  ****LIABILITIES    & STOCKHOLDERS' EQUITY (DEFICIT)   CURRENT LIABILITIES   Accounts Payable
$-
$525,508    Interest Payable
196,380 
106,301    Settlement Payable
35,000 
316,231    Accrued Expenses
150,362 
229,663    Customer Deposit
-
25,000      TOTAL    CURRENT LIABILITIES
381,742 
1,202,703 LONG TERM LIABILITIES   Note Payable-Related    Party
729,581 
855,028    Notes    Payable-Lamborghini
992,700 
992,700      TOTAL    LONG TERM LIABILITIES
1,722,281 
1,847,728              TOTAL LIABILITIES
2,104,023 
3,050,431 STOCKHOLDERS' EQUITY (DEFICIT)   Common Stock, $0.001    Par Value, 600,000,000 Shares        Authorized, 10,727,920 Shares Issued and Outstanding
10,728 
10,728    Preferred Stock,    $0.10 Par Value, Non-Voting,     5,000,000    Shares Authorized, 0 Shares Issued & Outstanding
-
-   Additional Paid in    Capital
37,311,776 
37,311,776    Retained Earnings    (Accumulated Deficit)
(39,426,472)
(39,924,016)          TOTAL STOCKHOLDERS' EQUITY (DEFICIT)
(2,103,968)
(2,601,512)**              TOTAL LIABILITIES & STOCKHOLDERS' EQUITY****              (DEFICIT)**
$55 
$448,919 
The accompanying Notes to Financial Statements are an integral part ofthese Financial Statements.
**VECTOR    HOLDINGS CORPORATION**(FORMERLY VECTOR AEROMOTIVE CORPORATION)**STATEMENTS OF OPERATIONS**FOR    THE YEARS ENDED DECEMBER 31, 1999 AND 1998**1999**1998SALES
$-
$933,202 COST OF SALES
-
799,636 GROSS PROFIT
-
133,566 OPERATING EXPENSES   Marketing
353 
70,532    Research and    Development
72,201 
18,485    Quality and Warranty
30,000    General and    Administrative
217,712 
670,041      TOTAL    OPERATING EXPENSES
290,266 
789,058 INCOME (LOSS) FROM OPERATIONS
(290,266)
(655,492)OTHER INCOME AND EXPENSE   Forgiveness of Debt
853,057 
299,329    Miscellaneous Income
24,832 
76,740    Interest Expense
(90,079)
(70,175)   Legal Settlements
-
(23,027)     TOTAL    OTHER INCOME AND EXPENSE
787,810 
282,867      NET    INCOME (LOSS) BEFORE PROVISION     FOR    INCOME TAXES
497,544 
(372,625)Provision for Income Taxes
-
-           NET INCOME (LOSS)
$497,544 
($372,625)NET INCOME (LOSS) PER COMMON SHARE   Basic
$0.05 
($0.03)   Diluted
$0.02 
($0.02)SHARES USED IN COMPUTING NET    INCOME(LOSS) PER COMMON SHARE   Basic
10,727,920 
10,727,920    Diluted
22,727,920 
27,727,920 
The accompanying Notes to Financial Statements are an integral part ofthese Financial Statements.
**VECTOR    HOLDINGS CORPORATION**(FORMERLY VECTOR AEROMOTIVE CORPORATION)**STATEMENT OF CHANGES IN    STOCKHOLDERS' EQUITY (DEFICIT)**FOR    THE YEARS ENDED DECEMBER 31, 1999 AND 1998**Retained**Additional**Earnings**Total**Common    Stock**Paid In**(Accumulated)**Stockholders'**# Shares**Amount**Capital**Deficit**Equity (Deficit)Balance at December 31, 1997
53,639,599 
$536,396 
$36,786,108 
($39,551,391)
($2,228,887)Adjust par value to $0.001
- 
(482,756)
482,756 
- 
- Reverse stock split 5 to 1
(42,911,679)
(42,912)
42,912 
- 
- Net Loss for 1998
- 
- 
- 
(372,625)
(372,625)Balance at December 31, 1998
10,727,920 
10,728 
37,311,776****************************************************************************************** |
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