U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________________

FORM 10-Q

[X] Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended ~~December~~March 31, ~~2013~~2014

[ ] Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File No. 333-166884

_____________________________________

VR HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of

incorporation or organization)

52-2130901

(I.R.S. Employer Identification Number)

1825 Ponce de Leon Blvd, Suite 56

Coral Gables, FL

(Address of principal executive offices)

33134

(Zip Code)

(305) 602-1010

(registrant’s telephone number, including area code)

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 requirement for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [ X ]

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 (Check One):


Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ]	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12(b)-2 of the Exchange Act). Yes [ ] No [X]

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date. At ~~September~~December 153, 2014, the registrant had outstanding 450,139,037 shares of common stock.

Table of Contents

Table of Contents

Part I –	Financial Information.
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	21
Item 4.	Controls and Procedures	21
Item 4(T).	Controls and Procedures	21
Part II-	Other Information
Item 1.	Legal Proceedings	22
Item 1A.	Risk Factors	22
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	22
Item 3.	Defaults Upon Senior Securities	22
Item 4.	Mine Safety Disclosures	22
Item 5.	Other Information	22
Item 6.	Exhibits	22

Part I – Financial Information.

~~PART~~Item I1. –Financial ~~FINANCIAL~~Statements ~~INFORMATION~~3

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 14

Item 3. Quantitative and Qualitative Disclosures about Market Risk 21

Item 4. Controls and Procedures 21

Item 4(T). Controls and Procedures 21

Part II- Other Information

Item 1. Legal Proceedings 22

Item 1A. Risk Factors 22

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22

Item 3. Defaults upon Senior Securities 22

Item 4. Mine Safety Disclosures 22

Item 5. Other Information 22

Item 6. Exhibits 22

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Item 1. Financial Statements.

VR Holdings, Inc.

(A Development Stage Company)

Consolidated Balance Sheets

(Unaudited)

	December 31,			September 30,
	March 31,			September 30,
	2013			2013
	2014			2013
ASSETS
Current assets:
Cash	$	284		$	284
Assets held for sale		1418,~~690~~700			16,047
Total assets	$	1418,~~974~~984		$	16,331
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Accounts payable and accrued liabilities	$	~~528~~530,~~583~~044		$	514,022
Accounts payable, related party		3848,~~390~~531			38,390
Liabilities, related to assets held for sale		5965,~~552~~975			62,737
Liabilities, related party related to assets held for sale		27,355			27,355
Total current liabilities		~~653~~671,~~880~~905			642,504
Shareholders’ deficit:
Common stock, $0.000001 par value; 550,000,000 shares authorized, 448,039,037 and 448,039,037 shares issued and outstanding, respectively		449			449
Additional paid-in capital		15,578,003			15,578,003
Stock Payable		4,200,000			—
Accumulated deficit		(15,492,955	)		(15,492,955	)
Deficit during development stage		(~~724~~4,~~403~~938,418	)		(711,670	)
Total shareholders’ deficit		(~~638~~652,~~906~~921	)		(626,173	)
Total liabilities and shareholders’ deficit	$	1418,~~974~~984		$	16,331
See notes to consolidated financial statements.

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VR Holdings, Inc.

(A Development Stage Company)

Consolidated Statements of Operations

(Unaudited)

	For the Three Months Ended December 31, 2013						For the Period from July 25, 2006 (Re-entry to development stage) to December 31, 2013
	For the Three Months Ended March 31, 2014						For the Six Months Ended March 31, 2014						For the Period from July 25, 2006 (Re-entry to development stage) to March 31, 2014
	2013			2012
	2014			2013			2014			2013
Revenue	$	—		$	—		$	—		$	—		$	—
Expenses:
General and administrative		104,~~126~~204,270			1512,~~486~~368			54,~~433~~214,~~852~~396			27,854			9,638,122
Impairment of goodwill		—			—			~~1,266,892~~—			—			1,266,892
Loss from Operations		(104,~~126~~204,270	)		(1512,~~486~~368	)		(64,~~700~~214,~~744~~396	)		(27,854	)		(10,905,014	)
Other income (expense)
Gain on forgiveness of debt		—			—			~~7,414,017~~—			—			7,414,017
Interest expense		—			—			~~(110,522~~—	)		—			(110,522	)
Net income (loss) from continuing operations		(104,~~126~~204,270	)		(1512,~~486~~368	)		~~602~~(4,~~751~~214,396	)		(27,854	)		(3,601,519	)
Net income (loss) from discontinued operations		(29,~~607~~745	)		~~(15~~6,~~841~~277	)		(112,~~327,154~~352	)		(9,564	)		(1,336,899	)
Net income (loss)	$	(124,~~733~~214,015	)	$	(316,~~327~~091	)	$	(~~724~~4,~~403~~226,748	)	$	(37,418	)	$	(4,938,418	)
Net loss per common share, basic and diluted
Continuing operations	$	(0.0001	)	$	(0.00	)		(0.01	)		(0.00	)
Net loss per common share, basic and diluted
Discontinued operations	$	(0.00	)	$	(0.00	)		(0.00	)		(0.00	)
Net loss per common share, basic and diluted
Total	$	(0.0001	)	$	(0.00	)		(0.01	)		(0.00	)
Weighted average number of common shares – basic and diluted		448,039,037			448,039,037			448,039,037			448,039,037
See notes to consolidated financial statements.

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VR Holdings, Inc.

(A Development Stage Company)

Consolidated Statements of Cash Flows

(Unaudited)

	For the Three Months Ended December 31,						For the Period from Re-Entry to Development Stage July 25, 2006 to December 31, 2013
	For the six Months Ended March 31						For the Period from Re-Entry to Development Stage July 25, 2006 to March 31, 2014
	2013			2012
	2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES;
Net income (loss)	$	(124,~~733~~226,748	)	$	(3137,~~327~~418	)	$	(~~724~~4,~~403~~938,418	)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Adjustments to reconcile net income (loss) to net cash from (used in) operating activities:
Depreciation		55110			—55			~~220~~275
Share-based compensation		—4,200,000			—			48,~~005~~205,475
Expenses paid by shareholder		—			—			168,570
Shares for services		—			—			765,000
Impairment of goodwill		—			—			1,266,892
Loss on exchange of debt for stock		—			—			1,153,815
Gain on settlement of debt		—			—			(7,414,017	)
Changes in operating assets and liabilities
Due from related party		(5,989	)		14,000			(9,409	)
Accounts Receivable		7,800			(11,300	)		7,800
Accounts payable		11,376			36,003			581,554
Due from related party		10,141						6,721
Accounts payable – related party		—			(24,721	)		(4,567	)
Accounts payable		19,260			65,532			589,438
Accounts payable – related party		—			(24,710	)		(4,567	)
Accrued interest payable		—			—			108,740
Net cash used by operating activities		(710,~~291~~563	)		(67,~~045~~841	)		(~~102~~84,~~130~~276	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash acquired from business acquisition		—			—			270
Purchase of fixed assets		—			(~~1,665~~832	)		(832	)
Proceeds from sale of stocks		—			—			5,000
Net, cash provided (used) by investing activities		—			(~~1,665~~832	)		4,438
CASH PROVIDED BY FINANCING ACTIVITIES:
Net proceeds from issuance of common stock		—			—			48,265
Net proceeds from notes payable		—			—			50,000
Net cash provided by financing activities		—			—			98,265
NET CHANGE IN CASH		(710,~~291~~563	)		(78,~~710~~673	)		~~573~~18,427
CASH AT BEGINNING OF PERIOD		7,864			8,880			—
CASH AT END OF PERIOD	$	~~573~~18,427		$	~~1,170~~207		$	~~573~~18,427
SUPPLEMENT CASH FLOW DISCLOSURE
Cash paid for:
Interest	$	—		$	—		$	—
Income taxes		—			—			—
Non-cash financing activities:
Debt converted to common stock	$	—		$	—		$	8,187,678
Forgiveness of related party accounts payable	$	—		$	—		$	5,955
See notes to consolidated financial statements.

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VR Holdings, Inc.

(A Development Stage Company)

Notes to Consolidated Financial Statements

(Unaudited)

NOTE 1 – BASIS OF PRESENTATION

The accompanying unaudited ~~interim~~ interim consolidated financial statements have been prepared by VR Holdings, Inc. pursuant to the rules and regulations of the ~~Securities~~ Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted in accordance with such rules and regulations. The information furnished in the interim consolidated financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it it is suggested that these interim consolidated financial statements be read in conjunction with VR Holdings’ most recent ~~audited~~ audited consolidated financial statements and notes thereto included in VR Holdings’ September 30, 2013 Form 10-K. Operating ~~results~~ results for the three and six months ended ~~December~~March 31, 2014 are not necessarily indicative of the results that may be expected for ~~the~~ the year ending September 30, ~~2013~~2014.

Development Stage

VR Holdings re-entered the development stage on July 25, 2006. From inception to July 24, 2006, the Company had an accumulated deficit of $15,492,955.

Principles of Consolidation

The financial statements include the accounts of VR Holdings, Inc. and its subsidiaries. Intercompany transactions and balances have been eliminated.

Estimates and Assumptions

Preparing 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, liabilities, revenue, and expenses. Examples include valuation of stock-based compensation. Actual results and outcomes may differ from management’s estimates and assumptions.

Cash and Cash Equivalents

The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. At ~~December~~March 31, ~~2013~~ 2014, the Company had $~~572~~ 18,427 of cash, $~~288~~18,143 of which is included in assets held for sale, and $0 cash equivalents. At September 30, 2013, the Company had $7,865 of cash, $7,581 of assets held for sale, and $0 cash equivalents.

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Goodwill

The Company follows the policy of recognizing Goodwill when acquiring a company or line of business to the extent that the assets acquired net of liabilities assumed is less than the value of the purchase price. The Goodwill generated is then evaluated as to its continuing value and any deterioration is amortized through charges to the Statement of Operations.

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Discontinued Operations

The Company follows the policy of segregating the assets and liabilities of subsidiaries or lines of business on its Balance Sheet from the assets liabilities of continuing subsidiaries or lines of businesses when it is decided to close or dispose of a subsidiary or line of business. The Company also, follows the policy of separately disclosing the assets and liabilities and the net operations of a subsidiary or line of business in its financial statements when it is decided to close or dispose of a subsidiary or line of business.

Goodwill Impairment

The Company follows the policy of annually reviewing the carrying value of its Goodwill assets as to any impairment of the current value. In those cases where there has been an impairment of the carrying value of Goodwill, the carrying value of Goodwill is adjusted to reflect this impairment through a charge to the current year Statement of Operations.

Interests in Litigation

The interests in litigation are being accounted for as gain contingencies. Therefore, no amounts have been recorded for these interests in the consolidated financial statements. Any gains will be recorded when realized.

Income Taxes

An asset and liability approach is used for financial accounting and reporting for income taxes. Deferred income taxes arise from temporary differences between income tax and financial reporting and principally relate to recognition of revenue and expenses in different periods for financial and tax accounting purposes and are measured using currently enacted tax rates and laws. In addition, a deferred tax asset can be generated by net operating loss carryforwards (“NOLs”). If it is more likely than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized.

Stock-Based Compensation

We measure compensation cost at the grant date based on the fair value of the award and recognize compensation cost upon the probable attainment of a specified performance condition or over a service period.

Reclassifications

Certain amounts from prior periods have been reclassified to conform to the current period presentation.

Earnings (Loss) Per Common Share

Basic net earnings (loss) per common share are computed by dividing net earnings (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted net earnings (loss) per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive.

The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method. The dilutive effect of outstanding convertible securities is reflected in diluted earnings per share by application of the if-converted method.

~~The~~Table ~~Company has no outstanding stock options, warrants, or convertible securities which would be considered dilutive at December 31, 2013. As~~ of ~~December~~Contents ~~31, 2013 and 2012, the Company had 10,000,000 and 9,000,000 common stock warrants outstanding, respectively, with an exercise price of $0.10 per share for all Warrants.~~7

~~Table~~The Company has no outstanding stock options, warrants, or convertible securities which would be considered dilutive at March 31, 2014. As of ~~Contents~~March ~~-7-~~31, 2014 and 2013, the Company had 10,000,000 and 9,000,000 common stock warrants outstanding, respectively, with an exercise price of $0.10 per share for all Warrants. At March 31, 2014 and 2013, the market for the common shares of VR Holdings, Inc. was so limited that it was determined that it was impossible for sufficient number of options to be exercised to cause any dilutive effect upon the earnings per share calculation.

The basic net loss per common share is computed by dividing the net loss by the weighted average number of shares outstanding during a period. Diluted net loss ~~per~~ per common share is computed by dividing the net loss, adjusted on an as if converted basis, by the weighted average number of common shares outstanding plus potential dilutive securities using the treasury stock method. For the periods ended ~~December~~ March 31, 2014 ~~2013~~ and ~~2012~~2013, potential dilutive securities that had an anti-dilutive effect were not included in the calculation of ~~diluted~~ diluted net loss per common share. These securities include options and warrants to purchase shares of common stock. Under the treasury stock method, an increase in the fair market value of the Company’s common stock results in a greater dilutive effect from outstanding options, restricted stock awards and common stock warrants.

As of ~~December~~March 31, ~~2013~~2014 and ~~2012~~ 2013, warrants ~~all~~were ~~potentially~~not ~~dilutive~~included ~~securities~~in ~~are~~the computation of income/(loss) per share because their inclusion is anti-dilutive.

Recently Issued Accounting Pronouncements

In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-12, Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The new guidance requires that share-based compensation that require a specific performance target to be achieved in order for employees to become eligible to vest in the awards and that could be achieved after an employee completes the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation costs should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. This new guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of ASU 2014-12 is not expected to have a material impact on our financial position or results of operations.

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In June 2014, the FASB issued ASU No. 2014-10: Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation , to improve financial reporting by reducing the cost and complexity associated with the incremental reporting requirements of development stage entities. The amendments in this update remove all incremental financial reporting requirements from U.S. GAAP for development stage entities, thereby improving financial reporting by eliminating the cost and complexity associated with providing that information. The amendments in this Update also eliminate an exception provided to development stage entities in Topic 810, Consolidation, for determining whether an entity is a variable interest entity on the basis of the amount of investment equity that is at risk. The amendments to eliminate that exception simplify U.S. GAAP by reducing avoidable complexity in existing accounting literature and improve the relevance of information provided to financial statement users by requiring the application of the same consolidation guidance by all reporting entities. The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. The amendments related to the elimination of inception-to-date information and the other remaining disclosure requirements of Topic 915 should be applied retrospectively except for the clarification to Topic 275, which shall be applied prospectively. For public companies, those amendments are effective for annual reporting periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The adoption of ASU 2014-10 is not expected to have a material impact on our financial position or results of operations.

In July 2013, FASB issued ASU No. 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." The provisions of ASU No. 2013-11 require an entity to present an unrecognized tax benefit, or portion thereof, in the statement of financial position as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward, with certain exceptions related to availability. ASU No. 2013-11 is effective for interim and annual reporting periods beginning after December 15, 2013. The adoption of ASU No. 2013-11 is not expected to have a material impact on the Company's Consolidated Financial Statements.

In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:

Present (either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and

Cross-reference to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g., inventory for pension-related amounts) instead of directly to income or expense.

The amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected to have a material impact on our financial position or results of operations.

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In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs. Like ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations.

February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:

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In October 2012, the FASB issued Accounting Standards Update ASU 2012-04, “Technical Corrections and Improvements” in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations.

There were various other accounting standards and interpretations issued recently, none of which are expected to have a material impact on our consolidated financial position, operations or cash flows.

NOTE 2 – GOING CONCERN

At ~~December~~March 31, ~~2013~~2014, we had $1418,~~974~~ 984 of assets, $~~653~~671,~~880~~905 of liabilities and a working capital deficit of $~~638~~652,~~906~~921. Through ~~September~~March 3031, ~~2013~~2014, we have been primarily engaged in advancement of pending litigation. In the course of our activities, we have sustained losses and expect such losses to continue through at least fiscal year 2014 if there were no change of strategy. The current plan of VR Holdings is to acquire a portfolio of other operating companies, and expand those operations. A Letter of Intent was signed on January 5, 2014, whereby VR Holdings is interested in acquiring all of the outstanding ownership interests (the “Acquisition”) of Enelco Environmental Technologies Co., Ltd. and EETC USA, LLC (collectively referred to as “EETC”) from China MPP Ventures, LLC, a Maryland limited liability company (“CMPP”) on terms that would be mutually agreeable. We previously reported the execution of the Letter of Intent by the filing of a Form 8-K with the Securities and Exchange Commission on January 8, 2014. Neither counsel nor VR Holdings offers any guarantee regarding the proposed acquisition, completion or outcome of the transaction. Subsequently, A Share Exchange Agreement was executed on March 28, 2014, by VR Holdings, CMPP, Zhu, Lapides and Deohge to acquire certain interests of CMPP. However, milestone events were not achieved, and the Agreement was terminated on July 7, 2014.

VR Holdings still maintains its interest in Litigation Dynamics as well as the claims of the litigation. VR Holdings continues to pursue acquisition candidates to meet its business strategy.

Through future financing, including debt structures or the sale of stock in the Company, we will be required to obtain additional capital in the future to continue operations.

Although we were incorporated in 1998, we have no recent revenue to date and we cannot forecast with any degree of certainty whether any of our proposed litigation services will ever generate revenue or the amount of revenue to be generated. In addition, we cannot predict the consistency of our operating results. We are currently involved as plaintiffs in a lawsuit. If we are successful in the litigation, we plan on utilizing any proceeds to be received to fund our operations. If we are not successful in the litigation, or if we receive only a minimal amount, we will not have sufficient money to fund our proposed operations. In such event, we will have to raise capital either through equity or debt offerings to fund our plan of acquisition. There is no assurance that we will be able to obtain additional capital through equity or debt financing, or any combination thereof, or on satisfactory terms or at all. Additionally, no assurance can be given that any such financing, if obtained, will be adequate to meet our ultimate capital needs and to support our growth. If adequate capital cannot be obtained on a timely basis and on satisfactory terms, our operations would be materially negatively impacted. Further, if we do not obtain additional funding prior to or during fiscal year 2014, we may enter into bankruptcy and possibly cease operations thereafter.

As a result of the above discussed conditions, there exists substantial doubt about our ability to continue as a going concern. Our financial statements are presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability of the recorded assets or the classification of liabilities that may be necessary should it be determined that we are unable to continue as a going concern.

NOTE 3 – EQUITY

On May 10, 2010, the Company issued 300,000 shares of common stock valued at $196 ($0.0006545 per share) for services rendered to the Company. The value of these shares was determined based on the value of shares previously issued by the Company.

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On August 24, 2010, the Company issued 100,000 shares of common stock to a consultant for services. These shares were valued at $65.

On August 30, 2010, the Company issued warrants to purchase 2,000,000 shares of common stock at an exercise price of $0.10 for a period of five years. The warrants were issued for services rendered by two attorneys. The fair value of the warrants at the date of grant was $1,308.

The warrants were valued using the Black-Scholes option-pricing model. Variables used in the Black-Scholes pricing model for the warrants include: (1) discount rate of 1.39%, (2) expected term of 5 years, (3) expected volatility of 350% and (4) zero expected dividends. All of the warrants issued were outstanding at September 30, 2011.

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On November 30, 2010, the Company issued 25,200,000 shares of common stock valued at $16,493 ($0.0006545 per share) for services to the Company. The value of these shares was determined based on the value of shares previously sold by the Company.

In February 2011, the Company issued 21,000,000 shares of common stock to three individuals for services. The fair value of these shares at the date of grant was $13,745 based on the value of shares previously sold by the Company.

In August 2011, the Company sold 50,000 shares of common stock for $5,000.

In November and December 2011, the company sold 480,694 shares of common stock for $43,263 after the payment of $4,806 of sales commissions.

In January 2012, the Company entered into an agreement with Litigation Dynamics, Inc. to have Litigation Dynamics, Inc. merge into VR Holdings, Inc. for a consideration of 17,500,.000 of common shares of VR Holdings, Inc. plus possible additional shares of VR Holdings, Inc., of up to 20,000,000 shares, based upon future revenue volume over the next five years. On September 24, 2012, a second agreement was signed by VR Holdings, Inc. and Litigation Dynamics, Inc. whereby it was agreed that Litigation Dynamics, Inc. would be spun off as a separate company and the total number of shares issued would be reduced to 10,250,000 divided between Litigation Dynamics, Inc. shareholder (5,750,000 shares), conversion of debt (3,000,000 shares) and CapNet Security Corporation (1,500,000 shares). The shares paid to CapNet Security Corporation related to a separate agreement signed by VR Holdings, Inc. concerning investment banking services to be provided by CapNet Security Corporation. For additional information on the conversion of debt, see NOTE 7 - DEBT.

In April 2012, the Company sold 50,000 shares of common stock for $5,000. On September 30, 2012, the Company issued warrants to purchase 7,000,000 shares of common stock at an exercise price of $0.10 for a period of five years. The warrants were issued for services rendered by an attorney. The fair value of the warrants at the date of grant was $3,260,588. The warrant was valued using the Black-Scholes option-pricing model. Variables used in the Black-Scholes pricing model for the warrants include: (1) discount rate of 0.62%, (2) expected term of 5 years, (3) expected volatility of 107.8% and (4) zero expected dividends. All of the warrants issued were outstanding at September 30, 2012. The Warrants were immediately vested and expensed through a charge to the Statement of Operations.

On August 13, 2013, the above warrant agreement to purchase 7,000,000 shares of common stock was amended and increased by an additional 1,000,000 to purchase a total of 8,000,000 shares of common stock at an exercise price of $0.10 for the remainder period of the original warrant. The warrants were issued for services rendered by an attorney. The fair value of the warrants at the date of grant was $458,149. The warrant was valued using the Black-Scholes option-pricing model. Variables used in the Black-Scholes pricing model for the warrants include: (1) discount rate of 1.49%, (2) expected term of 4.13years, (3) expected volatility of 106.43% and (4) zero expected dividends. All of the warrants issued were outstanding at September 30, 2013. The additional 1,000,000 warrants were immediately vested and expensed through a charge to the Statement of Operations for 2013.

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In September 2012, the Company cancelled 3,500,000 shares of common stock that had been originally issued to an attorney for services as the attorney was not able to perform these services.

Litigations Dynamics, Inc. used 3,000,000 shares of the common stock that it received from VR Holdings, Inc. for the merger to pay off $300,000 of debt plus $76,182 of accrued interest. Using the Black Sholes evaluation model, it was determined that the value of the 3,000,000 shares of common stock had a value of $1,539,997. After deducting the value of the notes and the accrued interest, Litigation Dynamics, Inc. lost $1,153,815 on the exchange and this loss was recorded as a charge to the Statement of Operations during the year ended September 30, 2012.

In addition, there was the forgiveness of a related party account payable in the amount of $5,955. This amount was forgiven by Michael Moore.

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In February 2014, the Company granted 2,100,000 shares of common stock to two individuals for services. The fair value of these shares at the date of grant was $4,200,000 based on the value of shares on the date granted. The shares were not issued as of March 31, 2014, and the value was recorded as stock payable at period end.

NOTE 4 – RELATED PARTY TRANSACTIONS

The Cancer Foundation, Inc., a shareholder of VR Holdings, has historically paid for certain expenses on behalf of VR Holdings. During the ~~nine~~six months ended March ~~December~~ 31, ~~2013~~ 2014 and ~~2012~~2013, The Cancer Foundation, Inc. paid $0 and $~~1,826,~~0 respectively. These payments have been recorded as contributed ~~capital~~ capital to VR Holdings.

In addition, there was the forgiveness of a related party account payable in the amount of $5,955. This amount was forgiven by Michael Moore.

NOTE 5 – LITIGATION

As of the date of this filing, VR Holdings had a pending motion in the Circuit Court of Cook County, Illinois under Cause No. 12-L-8718, to lift the stay of the proceeding styled VR Holdings, INC, MML, Inc. and Morton M. Lapides v. Cerberus Capital Management, LP, Madeline, LLC, Gordon Brothers Group, Warren Feder and Stephen A. Feinberg. Damages estimates by VR Holdings from previously reported litigation in the Circuit Court of Cook County, Illinois under Cause No. 09 L 004607 captioned The Cancer Foundation, Inc. v.Cerberus Capital Management, LP, are not currently relevant to VR Holdings. The merits of the claims raised in that lawsuit are being pursued in VR Holdings, Inc., MML, Inc. and Morton M. Lapides v. Cerberus Capital Management, LP, Madeline, LLC, Gordon Brothers Group, Warren Feder and Stephen A. Feinberg; damages are undetermined at the time of this filing.

NOTE 6 – DISCONTINUED OPERATION

In January 2012, the Company entered into an agreement with Litigation Dynamics, Inc. to have Litigation Dynamics, Inc. merge into VR Holdings, Inc. for a consideration of 17,500,000 of common shares of VR Holdings, Inc. plus additional shares of VR Holdings, Inc., up to 20,000,000 shares, based upon the revenue volume of Litigation Dynamics, Inc. over the next five years. On September 24, 2012, a second agreement was signed by VR Holdings, Inc. and Litigation Dynamics, Inc. whereby it was agreed that Litigation Dynamics, Inc. would be spun off as a separate company and that the total number of shares issued to the shareholder of Litigation Dynamics, Inc. would be reduced to 10,250,000 net of 3,000,000 shares which would be used in exchange for $300,000 of notes payable by Litigation Dynamics, Inc., and 1,500,000 shares due CapNet Security Corporation under a separate agreement signed by VR Holdings, Inc. As part of the reevaluation of the acquisition, of Litigation Dynamics, $63,660 of Notes Receivable were written off to bad expense for the year ended September 30, 2012.

In addition to the reduction in common shares that VR Holdings, Inc. will issue, VR Holdings, Inc. received $30,000 in cash which was paid $20,000 in September 2012 and $10,000 in October 2012. The exchange rate for the shareholders of VR Holdings, Inc. to receive when Litigation Dynamics is spun-off is one share of the new company, Litigation Dynamics, Inc. for every 100 shares of VR Holdings, Inc. owned at the time of the spin-off. The control group of VR Holdings, Inc. who own approximately 93.8 % of VR Holdings, Inc. common stock will receive 1 share of Litigation Dynamics, Inc. For every 200 shares they own of VR Holdings, Inc. at the time of the spin-off.

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As a result of entering into the Separation Agreement, the operations of Litigation Dynamics, Inc. have been classified as Discontinued Operations on the Statement of Operations. The components of Discontinued Operations summarized on the Statement of Operations arising from the decision to spin off the operations of Litigation Dynamics, Inc. are as follows:

	Three months ended December 31,
	Six months ended March 31, 2014
	2013			2012
	2014			2013
Revenue	$	—		$	—
Expenses:
General and administrative		19,~~357~~852			147,~~591~~064
Loss from operations		(19,~~357~~852	)		(147,~~591~~064	)
Other Income (expenses):
Interest Expense		(12,~~250~~500	)		(12,~~250~~500	)
Net Income (loss)	$	(212,~~607~~352	)	$	(159,~~841~~564	)

	December 31, 2013		September 30, 2013
	March 31, 2014		September 30, 2013
Assets:
Cash	$	~~288~~18,143	$	7,580
Due from related parties	$	~~14,402~~557	$	8,467
Total assets held for sale	$	1418,~~690~~700	$	16,047
Liabilities:
Accounts payable	$	915,~~552~~975	$	12,737
Amounts due related parties	$	27,355	$	27,355
Notes payable – in default	$	50,000	$	50,000
Total liabilities held for sale	$	8693,~~907~~330	$	90,092

NOTE 7 – DEBT

As noted in NOTE 6 – DISCONTINUED OPERATION, Litigations Dynamics, Inc. used 3,000,000 shares of the common stock that it received from VR Holdings, Inc. for the merger to pay to convert $300,000 of debt plus $76,182 of accrued interest. Using the Black Scholes evaluation model, it was determined that the value of the 3,000,000 shares of common stock had a value of $1,539,997. After deducting the value of the notes and the accrued interest, Litigation Dynamics, Inc. lost $1,153,815 on the exchange and this loss was recorded as a charge to the Statement of Operations during the year ended September 30, 2012.

On May 23, 2012, VR Holdings, Inc. signed a $50,000 note with an investment group to generate additional funding. The note has an annual interest rate of 10% payable quarterly with the first payment date on August 23, 2012 with interest being accrued monthly. As a condition of the Separation Agreement between VR Holdings, Inc. and Litigation Dynamics, this note was transferred to Litigation Dynamics, Inc. and the responsibility for making interest and principals payments was transferred to Litigation Dynamics, Inc. with no recourse to VR Holdings, Inc. The note holder has agreed to these conditions, and thus VR Holdings, Inc. has no responsibility going forward to make any interest or principal payment associated with this note. The note is currently in default and the note holder has agreed to these conditions.

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NOTE 8 – SUBSEQUENT EVENTS

On ~~January~~February 527, 2014, ~~a Letter of Intent was executed whereby~~ VR Holdings entered isinto ~~interested~~an inAgreement ~~acquiring~~with ~~all~~Jana ofYokum ~~the~~for ~~outstanding~~legal ~~ownership~~services. ~~interests~~On ~~(the “Acquisition”)~~April of3, ~~Enelco~~2014, ~~Environmental Technologies Co.~~500,000 ~~Ltd.~~shares ~~and~~of ~~EETC~~common ~~USA,~~stock ~~LLC~~were ~~(collectively~~issued ~~referred~~ to as ~~“EETC”)~~Jana ~~from~~Yokum ~~China~~in ~~MPP~~accordance ~~Ventures,~~with ~~LLC,~~the aAgreement. ~~Maryland~~The ~~limited~~issued ~~liability~~shares ~~company~~are ~~(“CMPP”)~~fully onpaid, ~~terms~~non-assessable ~~that would~~and beare ~~mutually~~being ~~agreeable.~~issued ~~EETC~~for islegal ~~engaged~~services rendered in ~~the~~lieu ~~business~~ of ~~industrial~~cash ~~air~~per ~~pollution control~~agreement. WeThere ~~previously~~are ~~reported~~no ~~the execution~~contingencies ofon the ~~Letter~~issuance of ~~Intent~~these byshares ~~the~~and ~~filing~~Ms. ofYokum ais ~~Form~~not ~~8-K~~an ~~with~~affiliate of the ~~Securities~~firm. ~~and~~The ~~Exchange~~shares ~~Commission~~issued onto ~~January 8, 2014~~Ms. ~~Neither~~ ~~counsel~~Yokum ~~nor~~will VRbe ~~Holdings~~restricted ~~offers~~and ~~any guarantee regarding~~ the ~~proposed~~certificates ~~acquisition,~~contain ~~completion~~a orstandard ~~outcome of the transaction~~legend.

On February 19, 2014, VR Holdings entered ~~and~~into ~~CMPP~~an ~~wish~~Agreement ~~to commence~~with ~~negotiating~~Chris aHagerman. ~~definitive~~On ~~written~~April ~~agreement~~3, ~~providing~~2014, ~~for~~1,600,000 ~~the~~shares ~~Acquisition~~of ~~(the~~common ~~“Definitive~~stock ~~Agreement”).~~were ~~To facilitate~~issued ~~the~~to ~~negotiation~~Chris ofHagerman in accordance with the ~~Definitive~~terms ~~Agreement,~~of the ~~parties~~agreement. ~~request~~The ~~that~~issued VRshares ~~Holdings’~~are ~~counsel~~fully ~~prepare~~paid, annon-assessable ~~initial draft.~~and ~~The~~are ~~execution~~being ofissued ~~the~~for ~~Definitive~~consulting and ~~Agreement~~marketing ~~would~~services berendered ~~subject~~in tolieu ~~the~~of ~~satisfactory~~cash ~~completion~~per ofagreement. ~~the~~There ~~ongoing~~are ~~investigation~~no ~~by VR~~contingencies ~~Holdings~~on ~~and~~the ~~CMPP~~issuance of ~~their~~these ~~respective~~shares ~~businesses,~~and Mr. ~~approval~~Hagerman byis ~~their~~not ~~respective~~an ~~boards~~affiliate of ~~directors, and~~ the ~~approval~~firm. ofThe ~~the Acquisition~~shares byissued ~~the~~to ~~stockholders~~Mr. ofHagerman VRwill ~~Holdings~~be restricted and ~~owners~~the ofcertificates ~~CMPP~~contain a standard legend.

IfAs ~~the~~a ~~acquisition~~result ~~were~~of tothe bedates of ~~completed,~~the VRagreement ~~Holdings~~and ~~may~~the beissuance inof ashares ~~stronger~~for ~~position~~Yokum asand aHagerman, ~~result~~the outstanding shares at the end of the ~~acquisition~~quarter toending ~~not~~March 31, ~~only~~2014 ~~continue~~were to448,039,037. ~~grow~~However, ~~the~~shares ~~operations of~~totaling ~~EETC~~2,100,000 ~~but~~were ~~also~~due to ~~continue~~be ~~efforts~~issued inat the ~~litigation~~end ~~held~~of the quarter ending March 31, 2014, and were finally issued by VRthe ~~Holdings.~~transfer ~~Neither~~agent ~~counsel~~on ~~not~~April VR3, ~~Holdings~~2014. ~~offers~~As ~~any~~a ~~guarantee regarding~~result, the ~~proposed~~current ~~acquisition~~outstanding orshares ~~outcome~~reported as of the ~~pending~~date ~~litigation~~of this filing are 2,100,000 greater for a total of 450,139,037.

The following organization changes have also occurred subsequent to the quarter ending December 31, 2013. On January 6, 2014, Harry J. Conn, due to personal reasons and the press of other matters, resigned as a director of the registrant. There were no disagreements between Mr. Conn and the registrant. Other than as a result of his board membership and serving on the audit committee of the registrant, Mr. Conn did not serve on any committee of our board of directors. The registrant has furnished to Mr. Conn a copy of the Form 8-K before its filing. Mr. Conn has been afforded an opportunity to state whether or not he agrees or disagrees with the statements contained herein. Mr. Conn has stated that he agrees with the statements contained in the Form 8-K.

On January 9, 2014, John E. Baker, due to personal reasons and the press of other matters, resigned as chairman, chief financial officer, principal accounting officer, and assistant secretary of the registrant. There were no disagreements between Mr. Baker and the registrant. Other than as a result of his board membership and serving on the audit committee of the registrant, Mr. Baker did not serve on any committee of our board of directors. The registrant has furnished to Mr. Baker a copy of the Form 8-K before its filing. Mr. Baker has been afforded an opportunity to state whether or not he agrees or disagrees with the statements contained herein. Mr. Baker has stated that he agrees with the statements contained in the Form 8-K.

Likewise, on January 9, 2014, our board of directors elected Matthew A. Lapides to be chairman, chief financial officer, principal accounting officer, and assistant secretary of the registrant. The registrant and Mr. Lapides have not entered into any material plan, contract or arrangement (whether or not written) to which Mr. Lapides is a party or in which he participates. Moreover, there has been no material amendment in connection with any triggering event or any grant or award to Mr. Lapides or modification thereto, under any such plan, contract or arrangement in connection with any such event.

The members of our board of directors are subject to change from time to time by the vote of the stockholders at special or annual meetings to elect directors. Officers are elected annually by the directors. There are no family relationships among our directors and officers.

However, the family of Mr. Lapides is the owner of Deohge Corp., a Maryland corporation, the controlling stockholder of the registrant, whose executive officer and director is Pamela Lapides. There are no arrangements or understandings between Mr. Lapides and any other person pursuant to which he was or is to be selected as an officer or director of the registrant.

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There has not been, in the past or since the beginning of the registrant's last fiscal year, or any currently proposed transaction, between Mr. Lapides and the registrant and the amount involved exceeded $120,000, and in which Mr. Lapides had or will have a direct or indirect material interest. As of the date of the Form 8-K filed with the Securities and Exchange Commission on January 9, 2014, the registrant and Mr. Lapides have not executed any compensation arrangement as a result of Mr. Lapides' service as an officer and director of the registrant.

Our board of directors has adopted charters for various committees; none of the committees has been organized. However, our complete board does serve as an audit committee. As a result of Mr. Lapides being a member of the board of directors of the registrant, he will serve on the audit committee of the registrant.

On March 28, 2014, a Share Exchange Agreement was executed whereby VR Holdings will acquire all of the outstanding ownership interests of Enelco Environmental Technologies Co., Ltd. and EETC USA, LLC (collectively referred to as “EETC”) from China MPP Ventures, LLC, a Maryland limited liability company (“CMPP”) on terms that would be mutually agreeable. EETC is engaged in the business of industrial air pollution control. We previously reported the execution of the Share Exchange Agreement by the filing of a Form 8-K with the Securities and Exchange Commission on April 8, 2014. Neither counsel nor VR Holdings offers any guarantee regarding the proposed acquisition, completion or outcome of the transaction.

On April 3, 2014, 500,000 shares of common stock were issued to Jana Yokum. The issued shares are fully paid, non-assessable and are being issued for legal services rendered in lieu of cash per agreement. There are no contingencies on the issuance of these shares and Ms. Yokum is not an affiliate of the firm. The shares issued to Ms. Yokum will be restricted and the certificates contain a standard legend.

On April 3, 2014, 1,600,000 shares of common stock were issued to Chris Hagerman. The issued shares are fully paid, non-assessable and are being issued for consulting and marketing services rendered in lieu of cash per agreement. There are no contingencies on the issuance of these shares and Mr. Hagerman is not an affiliate of the firm. The shares issued to Mr. Hagerman will be restricted and the certificates contain a standard legend.

On April 28, 2014, stock purchase warrants were issued to Norman T. Reynolds in consideration for his legal services and advise rendered to VR Holdings during the full time of engagement with the company. Under the conditions of this Stock Purchase Warrant, Mr. Reynolds is entitled purchase up to 12 million shares of VR Holdings common stock at an exercise price $0.10 per share and will subject to all of the terms and conditions contained within the issuance document. These warrants shall expire on April 30, 2019.

On July 7, 2014, the terms of the Share Exchange Agreement by and between VR Holdings, CMPP, Zhu, Lapides and Deohge was terminated for failure to meet certain milestone events designated in the Agreement.

On July 1, 2014, a compensation agreement was established with Matthew Lapides.

On July 28, 2014, the consulting services of ICA were engaged. Pursuant to the Engagement Agreement, VR Holdings is issuing 12,500,000 shares for specified services.

On July 28, 2014, the consulting services of Coral Capital were engaged. Pursuant to the Engagement Agreement, VR Holdings is issuing 12,500,000 shares for specified services.

On July 30, 2014, a Promissory Note was executed with Ipanema Capital, LLC to meet short term capital requirements. Pursuant to the terms of the Agreement, Ipanema has conversion rights on their Promissory Note allowing them to acquire common shares of VR Holdings at a conversion rate of $0.001 per share. Ipanema has also been issued warrants to purchase up to 20,000,000 shares of VR Holdings common stock and will subject to all of the terms and conditions contained within the issuance document. These warrants shall expire on July 31, 2019.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

THE FOLLOWING DISCUSSION SHOULD BE READ TOGETHER WITH THE INFORMATION CONTAINED IN THE FINANCIAL STATEMENTS AND RELATED NOTES INCLUDED ELSEWHERE IN THIS REPORT ON FORM 10-Q.

The following discussion reflects our plan of operation. This discussion should be read in conjunction with the financial statements which are included in this Report. This discussion contains forward-looking statements, including statements regarding our expected financial position, business and financing plans. These statements involve risks and uncertainties. Our actual results could differ materially from the results described in or implied by these forward-looking statements as a result of various factors, including those discussed below and elsewhere in this Report.

VR Holdings, Inc.

The business previously operated by VR Holdings before the filing of our registration statement with the SEC on May 17, 2010 has no relevance. While the ongoing operations in interests in Litigation Dynamics, Inc. continues, the discussion which immediately follows relates to our proposed business strategy of acquiring certain operating businesses. Unless the context otherwise suggests, “we,” “our,” “us,” and similar terms, as well as references to “VR Holdings,” all refer to VR Holdings as of the date of this Report.

Regardless of the outcome of our litigation effort in ~~The~~VR ~~Cancer~~Holdings, ~~Foundation~~Inc., MML Inc. and Morton M. Lapides v. Cerberus Capital Management, LP, Madeline, LLC, Gordon Brothers Group, Warren Feder and Stephen A. Feinberg, more fully discussed below and in “Business –Legal Proceedings,” our business going forward is expected to consist of a strategy to acquire certain operating companies to provide our stockholders with an attractive level of capital growth through the operating activities of the intended merger. See “The Plan of Acquisition.” In the future, we may raise additional capital though equity or debt offerings.

VR Holdings, Inc., MML Inc. and Morton M. Lapides v. Cerberus Capital Management, LP, Madeline, LLC, Gordon Brothers Group, Warren Feder and Stephen A. Feinberg.

~~MML,~~Table ~~Inc. a wholly owned subsidiary~~ of VRContents holdings, is a plaintiff in an Illinois State court suit. If successful, although not legally liable, plans to distribute on a percentage basis the proceeds from this suit to all claimants including its parent, VR Holdings. The claimants accepting this exchange will have their claims transferred to VR Holdings. See the registration statement filed by VR Holdings with the SEC which became effective on May 11, 2011, and which is expressly incorporated in this Report by reference. The suit was filed in state court on April 17, 2009 by The Cancer Foundation, Inc. and others plaintiffs against Cerberus Capital Management, L.P. and other defendants after a suit based on similar facts was dismissed in the United States District Court for the Northern District of Illinois and the dismissal affirmed by the United States Court of Appeals for the Seventh Circuit. If the state court action is not successful, there will be no recovery of damages and no proceeds will be available for distribution to the claimants. However, it will not impact VR Holdings intended business growth strategy.15

MML, Inc. a wholly owned subsidiary of VR Holdings, is a plaintiff in an Illinois State court suit. If successful, although not legally liable, plans to distribute on a percentage basis the proceeds from this suit to all claimants including its parent, VR Holdings. The claimants accepting this exchange will have their claims transferred to VR Holdings. See the registration statement filed by VR Holdings with the SEC which became effective on May 11, 2011, and which is expressly incorporated in this Report by reference. The suit was filed in state court on April 17, 2009 by The Cancer Foundation, Inc. and others plaintiffs against Cerberus Capital Management, L.P. and other defendants after a suit based on similar facts was dismissed in the United States District Court for the Northern District of Illinois and the dismissal affirmed by the United States Court of Appeals for the Seventh Circuit. If the state court action is not successful, there will be no recovery of damages and no proceeds will be available for distribution to the claimants. However, it will not impact VR Holdings intended business growth strategy.

At the time of this Report, we are currently in a due diligence phase of acquisition targets. In the future, we may raise additional capital though equity or debt offerings.

Results of Operations

Three Months Ended ~~December~~March 31, ~~2013~~2014 Compared to Three Months Ended ~~December~~March 31, ~~2012~~2013.

Revenues. VR Holdings had revenues of $0 for the three months ended ~~December~~March 31, ~~2013~~2014 and ~~2012~~2013.

General and Administrative Expenses. Our general and administrative expenses ~~decreased~~increased for the quarter from $1512,~~486~~368 in ~~2012~~2013 to $104,~~136~~204,270 in ~~2013~~2014 as a result of ~~reduced~~ increased general business and travel expenses related to business acquisition activities and $4,200,000 from the share issuance for services to two individuals.

~~Table~~Net (Loss) from Continued Operations. The net loss from continuing operations for the quarter ending March 31, 2014 was 4,204,270 as compared to a loss in the same period in 2013 of ~~Contents~~12,368 ~~-15-~~as a result of increased general and administrative expenses and $4,200,000 from the share issuance for services to two individuals as described above.

Net (Loss) from Discontinued ~~Continued~~ Operations. The net loss from ~~continuing~~discontinued operations for the quarter ending ~~December~~March 31, ~~2013~~2014, was 109,~~126~~745 as compared to aincome ~~loss~~ in the same ~~period~~ periods in ~~2012~~2013 of 156,~~486~~277 as a result of ~~reduced~~an ~~general~~increase of General and ~~administrative~~Administrative expenses asassociated ~~described~~with Litigation ~~above~~Dynamics.

~~Net~~Table ~~(Loss) from Discontinued Operations. The net loss from discontinued operations for the quarter ending December 31, 2013 was 2,607 as compared to a loss in the same periods in 2012~~ of ~~15,841~~Contents ~~as a result of reduction of general and Administrative expenses associated with Litigation Dynamics.~~16

Net (Loss). The net loss for the quarter ending ~~December~~March 31, ~~2013~~2014 was 124,~~733~~214,015 as compared to a loss in the same period in ~~2012~~2013 of 316,~~327~~091 as a result of reduced general and administrative expenses inand ~~both~~$4,200,000 ~~continued~~from ~~operations~~the ~~and~~share ~~discontinued~~issuance ~~operations~~for services to two individuals as described above.

~~Liquidity~~Six ~~and~~Months ~~Capital~~Ended ~~Resources.~~March ~~Our primary~~31, ~~expenses~~2014 ~~have~~Compared ~~been~~to ~~greatly~~Six ~~reduced as ongoing litigation expenses were nearly eliminated as the result of attorneys~~Months ~~representing~~Ended ~~the~~March ~~firm on a contingency basis. The primary expenses were legal and accounting fees. As of December~~ 31, 2013~~, the Company had $572 of cash, $288 of which is included in assets held for sale, and $0 cash equivalents~~.

AsRevenues. ofVR ~~December~~Holdings ~~31, 2013, we~~ had ~~outstanding~~revenues ~~liabilities~~ of $~~653,880,~~0 ~~which~~for isthe ~~payable~~six ~~within 12~~ months. Weended ~~are~~March ~~attempting to obtain funds from the successful conclusion of our lawsuit through the judicial system. There are no interest~~31, ~~penalties~~2014 orand ~~fines accruing on the past due amounts~~2013.

General and Administrative Expenses. Our general and administrative expenses increased for the six months ending March 31, 2014 from $27,854 in 2013 to $4,214,396 in 2014 as a result of increased general business and travel expenses related to business acquisition activities and $4,200,000 from the share issuance for services to two individuals.

Net (Loss) from Continued Operations. The net loss from continuing operations for the six months ending March 31, 2014 was 4,214,396 as compared to a loss in the same period in 2013 of 27,854 as a result of increased general and administrative expenses and $4,200,000 from the share issuance for services to two individuals as described above.

Net (Loss) from Discontinued Operations. The net loss from discontinued operations for the six months ending March 31, 2014 was 12,352 as compared to a net loss in the same periods in 2013 of 9,564 as a result of an increase of General and Administrative expenses associated with Litigation Dynamics.

Net (Loss). The net loss for the six months ending March 31, 2014 was 4,226,748 as compared to a loss in the same period in 2013 of 37,418 as a result of reduced general and administrative expenses and $4,200,000 from the share issuance for services to two individuals as described above.

Liquidity and Capital Resources. Our primary expenses have been greatly increased due to the issuances of shares for consulting and legal services in accordance with certain agreements as described above. The primary expenses were consulting services, legal and accounting fees. As of March 31, 2014, the Company had $18,427 of cash, $18,143 of which is included in assets held for sale, and $0 cash equivalents.

As of March 31, 2014, we had outstanding liabilities of $671,905, which is payable within 12 months. We are attempting to obtain funds from the successful conclusion of our lawsuit through the judicial system. There are no interest, penalties or fines accruing on the past due amounts.

Seasonality

Our proposed business is not subject to seasonality.

Impact of Inflation

General inflation in the economy has driven the operating expenses of many businesses higher. We will continuously seek methods of reducing costs and streamlining operations while maximizing efficiency through improved internal operating procedures and controls. While we are subject to inflation as described above, our management believes that inflation currently does not have a material effect on our operating results. However, inflation may become a factor in the future.

Critical Accounting Policies

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States requires us to make judgments, assumptions and estimates that affect the amounts reported. Note 1 – Basis of Presentation of Notes to Financial Statements describes the significant accounting policies used in the preparation of the financial statements. Certain of these significant accounting policies are considered to be critical accounting policies, as defined below.

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Development Stage

VR Holdings re-entered the development stage on July 25, 2006. From inception to July 24, 2006, the Company had an accumulated deficit of $15,492,955.

Principles of Consolidation

The financial statements include the accounts of VR Holdings, Inc. and its subsidiaries. Intercompany transactions and balances have been eliminated.

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Estimates and Assumptions

Cash and Cash Equivalents

The Company considers all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. At ~~December~~March 31, ~~2013~~2014, the Company had $~~572~~18,427 of cash, $~~288~~18,143 of which is included in assets held for sale, and $0 cash equivalents.

Goodwill

Discontinued Operations

Goodwill Impairment

Interests in Litigation

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Income Taxes

Stock-Based Compensation

Reclassifications

Certain amounts from prior periods have been reclassified to conform to the current period presentation.

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Earnings (Loss) Per Common Share

The Company has no outstanding stock options, warrants, or convertible securities which would be considered dilutive at ~~December~~March 31, ~~2013~~2014. As of ~~December~~March 31, ~~2013~~2014 and ~~2012,~~ 2013, the Company had 10,000,000 and 9,000,000 common stock warrants outstanding, respectively, with an exercise price of $0.10 ~~per~~ per share for all Warrants. At ~~December~~March 31, ~~2013~~2014 and ~~2012~~2013, the market for the common shares of VR Holdings, Inc. was so limited that it was determined that it was impossible for sufficient number of options to be exercised to cause any dilutive effect upon the earnings per share calculation.

The basic net loss per common share is computed by dividing the net loss by the weighted average number of shares outstanding during a period. Diluted net loss per common share is computed by dividing the net loss, adjusted on an as if converted basis, by the weighted average number of common shares outstanding plus potential dilutive securities using the treasury stock method. For the periods ended ~~December~~March 31, ~~2013~~ 2014 and ~~2012~~2013, potential dilutive securities that had an anti-dilutive effect were not included in the calculation of diluted net ~~loss~~ loss per common share. These securities include options and warrants to purchase shares of common stock. Under the treasury stock method, an increase in the fair market value of the Company’s common stock results in a greater dilutive effect from outstanding options, restricted stock awards and common stock warrants.

As of ~~December~~March 31, ~~2013~~2014 and ~~2012,~~ 2013, there are no potentially dilutive securities that are anti-dilutive.

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Recently Issued Accounting Pronouncements

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In preparing our financial statements to conform to accounting principles generally accepted in the United States, we make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. These estimates include useful lives for fixed assets for depreciation calculations and assumptions for valuing options and warrants. Actual results could differ from these estimates.

Financing Activities

Regardless of the outcome in our litigation, we will have to raise capital by means of borrowings or the sale of shares of our common stock. In the future, we may raise additional capital though equity or debt offerings. At present, we do not have any commitments with respect to future financings. If we are unable to raise the capital we need to finance our business, our proposed business will likely fail.

At present, we do not have sufficient capital on hand to fund our proposed operations for the next 12 months. We estimate that we will need at least $250,000 to fund our operations over the next 12 months. These operating funds will be spent to fund our operating expenses.

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VR Holdings Needs To Hire Specialized Personnel

Although we are committed to the continued development and growth of our business, we will need to engage specialized key personnel, such as underwriters and legal personnel, to assess risks of investing in lawsuits and to assist VR Holdings in the execution of our business model, inasmuch as Matthew A. Lapides, our chief executive officer, does not possess the requisite level of expertise to perform such functions. Further, Mr. Baker will not devote his entire working efforts to our business, since he is currently employed as chief financial officer and treasurer of Inware Technologies, Inc. It is possible that we will not be able to locate and hire such specialized personnel on acceptable terms.

Litigation Dynamics Needs To Hire Specialized Personnel

Although we are committed to the continued development and growth of our business, we will need to engage specialized key personnel, such as experienced litigation support professionals, paralegals, and IT professionals to assist Litigation Dynamics in the execution of our business model. It is possible that we will not be able to locate and hire such specialized personnel on acceptable terms.

Quantitative and Qualitative Disclosures ~~About~~about Market Risk

We conduct all of our transactions in U.S. dollars. We are therefore not directly subject to the risks of foreign currency fluctuations and do not hedge or otherwise deal in currency instruments in an attempt to minimize such risks.

Adequacy of Working Capital for VR Holdings

It is possible that there will be capital to fund our business plan through a successful resolution of the litigation in which we are currently involved. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Financing Activities.” However, if our litigation efforts are unsuccessful or do not generate sufficient cash to fund our anticipated operations, we will continue to execute the intended business strategy. We still fully intend to proceed with our proposed business plan and will apply great efforts to raise what we feel is sufficient working capital for our intended business plan by various means.

If we are not able to raise additional capital, we would not be able to continue operations and our business may fail. In the future, we may raise additional capital though equity or debt offerings.

The Financial Results for VR Holdings May Be Affected by Factors Outside of Our Control

Our future operating results may vary significantly from quarter to quarter due to a variety of factors, many of which are outside our control. Our anticipated expense levels are based, in part, on our estimates of future revenues and may vary from projections. We may be unable to adjust spending rapidly enough to compensate for any unexpected revenues shortfall. Accordingly, any significant shortfall in revenues in relation to our planned expenditures would materially adversely affect our business, operating results, and financial condition. We cannot predict with certainty our success in litigation. Further, we believe that period-to-period comparisons of our operating results are not necessarily a meaningful indication of future performance.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

There has been no material change in ~~our~~ our market risks since the end of the fiscal year 2013.

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Item 4. Controls and Procedures.

See Item 4(T) below.

Item 4(T). Controls and Procedures.

The term disclosure controls and procedures means controls and other procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act (15 U.S.C. 78a, et seq. ) is recorded, processed, summarized and reported, within the time periods 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 and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

The term internal control over financial reporting is defined as a process designed by, or under the supervision of, the issuer’s principal executive and principal financial officers, or persons performing similar functions, and effected by the issuer’s board of directors, management and other personnel, 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 and includes those policies and procedures that:

Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the issuer;

Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the issuer are being made only in accordance with authorizations of management and directors of the issuer; and

Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the issuer’s assets that could have a material effect on the financial statements.

Our management, including our chief executive officer and chief financial officer, does not expect that our disclosure controls and procedures or our internal controls over financial reporting will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of inherent limitations in all control systems, internal control over financial reporting may not prevent or detect misstatements, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the registrant have been detected. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Evaluation of Disclosure and Controls and Procedures. Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Exchange Act. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States. We carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. The evaluation was undertaken in consultation with our accounting personnel. Based on that evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were not effective at ~~December 31~~March 31, ~~2013~~2014 due to the lack of accounting personnel. We intend to hire additional employees when we obtain sufficient capital.

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Changes in Internal Controls over Financial Reporting. There were no changes in the internal controls over our financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

See Item 2, above.

Item 1A. Risk Factors.

Not applicable.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Not Applicable.

Item 3. Defaults Upon Senior Securities.

Not applicable.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

None.

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Item 6. Exhibits.

	Identification of Exhibit
Exhibit No.	Identification of Exhibit
1.0**	Letter Agreement between CapNet Securities Corporation and VR Holdings, Inc. dated October 24, 2011, filed as Exhibit 1.0 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
2.0**	Plan and Agreement of Triangular Merger between VR Holdings, Inc., VRH Merger Sub, Inc. and Litigation Dynamics, Inc. dated November 21, 2011, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on November 23, 2011, Commission File Number 333-166884.
3.1**	Certificate of Incorporation of VR Holdings, Inc. filed with the Secretary of State of Delaware on November 2, 1998, filed as Exhibit 3.1 to the registrant’s registration statement on July 20, 2010, Commission File Number 333-166884.
3.2**	Certificate of Amendment of Certificate of Incorporation of VR Holdings, Inc. filed with the Secretary of State of Delaware on June 2, 2008, filed as Exhibit 3.2 to the registrant’s registration statement on July 20, 2010, Commission File Number 333-166884.
3.3**	Original Bylaws of VR Holdings, Inc., filed as Exhibit 3.3 to the registrant’s registration statement on July 20, 2010, Commission File Number 333-166884.
3.4**	Amended and Restated Certificate of Incorporation of VR Holdings, Inc. adopted May 14, 2010, filed as Exhibit 3.4 to the registrant’s registration statement on July 20, 2010, Commission File Number 333-166884.
3.5**	Amended and Restated Bylaws of VR Holdings, Inc. adopted May 14, 2010, filed as Exhibit 3.5 to the registrant’s registration statement on July 20, 2010, Commission File Number 333-166884.
3.6**	Articles of Incorporation of VRH Merger Sub, Inc. filed with the Secretary of State of Texas on November 14, 2011, and subsequently amended on January 20, 2012, by Articles of Merger between VRH Merger Sub, Inc. and Litigation Dynamics, Inc. filed with the Secretary of State of Texas on January 20, 2012. to reflect the change of the name of VRH Merger Sub, Inc. to Litigation Dynamics, Inc., filed as Exhibit 3.6 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
3.7**	Bylaws of VRH Merger Sub, Inc. adopted on November 21, 2011, and subsequently amended on January 20, 2012 to reflect the change of the name of VRH Merger Sub, Inc. to Litigation Dynamics, Inc., filed as Exhibit 3.7 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
3.8**	Articles of Merger between VRH Merger Sub, Inc. and Litigation Dynamics, Inc. filed with the Secretary of State of Texas on January 20, 2012, filed as Exhibit 3.8 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.

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10.1**	Charter of the Audit Committee of VR Holdings, Inc., filed as Exhibit 10.1 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.2**	Code of Business Conduct of VR Holdings, Inc., filed as Exhibit 10.2 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.3**	Code of Ethics for Senior Executive Officers and Senior Financial Officers of VR Holdings, Inc., filed as Exhibit 10.3 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.4**	Charter of the Compensation Committee of VR Holdings, Inc., filed as Exhibit 10.4 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.5**	Corporate Governance Principles of the Board of Directors of VR Holdings, Inc., filed as Exhibit 10.5 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.6**	Charter of the Executive Committee of the Board of Directors of VR Holdings, Inc., filed as Exhibit 10.6 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.

3.7**	Bylaws of VRH Merger Sub, Inc. adopted on November 21, 2011, and subsequently amended on January 20, 2012 to reflect the change of the name of VRH Merger Sub, Inc. to Litigation Dynamics, Inc., filed as Exhibit 3.7 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
3.8**	Articles of Merger between VRH Merger Sub, Inc. and Litigation Dynamics, Inc. filed with the Secretary of State of Texas on January 20, 2012, filed as Exhibit 3.8 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.1**	Charter of the Audit Committee of VR Holdings, Inc., filed as Exhibit 10.1 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.2**	Code of Business Conduct of VR Holdings, Inc., filed as Exhibit 10.2 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.3**	Code of Ethics for Senior Executive Officers and Senior Financial Officers of VR Holdings, Inc., filed as Exhibit 10.3 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.4**	Charter of the Compensation Committee of VR Holdings, Inc., filed as Exhibit 10.4 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.5**	Corporate Governance Principles of the Board of Directors of VR Holdings, Inc., filed as Exhibit 10.5 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.6**	Charter of the Executive Committee of the Board of Directors of VR Holdings, Inc., filed as Exhibit 10.6 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.7**	Charter of the Finance Committee of VR Holdings, Inc., filed as Exhibit 10.7 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.8**	Charter of the Governance and Nominating Committee of VR Holdings, Inc., filed as Exhibit 10.8 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.9**	Executive Summary Memorandum, filed as Exhibit 10.9 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.10**	Assignment of Claims, filed as Exhibit 10.10 to the registrant’s registration statement on September 9, 2010, Commission File Number 333-166884.
10.11**	Form of Settlement with the claimants, filed as Exhibit 10.11 to the registrant’s registration statement on April 29, 2011, Commission File Number 333-166884.
10.12**	Warrant dated August 30, 2010, for 1,000,000 shares issued to Norman T. Reynolds, Esq., filed as Exhibit 10.12 to the registrant’s registration statement on October 25, 2010, Commission File Number 333-166884.
10.13**	Amended Warrant dated August 13, 2012, for 8,000,000 shares issued to Norman T. Reynolds, Esq., filed as Exhibit 10.13 to the registrant’s Report on Form 10-K on February 5, 2014, Commission File Number 333-166884.
10.14**	Employment Agreement between Litigation Dynamics, Inc. and Zane Russell dated January 20, 2012, filed as Exhibit 10.14 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.15**	Employment Agreement between Litigation Dynamics, Inc. and J. Michael Moore dated January 20, 2012, filed as Exhibit 10.15 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.16**	Master Services Agreement between Litigation Dynamics, Inc. and VR Holdings, Inc. dated January 20, 2012, filed as Exhibit 10.16 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.17**	Subscription Agreement executed by Litigation Dynamics, Inc. shareholders on January 20, 2012, in connection with the merger of VRH Merger Sub, Inc. and Litigation Dynamics, Inc., filed as Exhibit 10.17 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.18**	Promissory note executed by Pine Springs Capital, LLC dated March 31, 2011, in the amount of $11,250.00 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.18 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.

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10.7**	Charter of the Finance Committee of VR Holdings, Inc., filed as Exhibit 10.7 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.8**	Charter of the Governance and Nominating Committee of VR Holdings, Inc., filed as Exhibit 10.8 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.9**	Executive Summary Memorandum, filed as Exhibit 10.9 to the registrant’s registration statement on May 17, 2010, Commission File Number 333-166884.
10.10**	Assignment of Claims, filed as Exhibit 10.10 to the registrant’s registration statement on September 9, 2010, Commission File Number 333-166884.
10.11**	Form of Settlement with the claimants, filed as Exhibit 10.11 to the registrant’s registration statement on April 29, 2011, Commission File Number 333-166884.
10.12**	Warrant dated August 30, 2010, for 1,000,000 shares issued to Norman T. Reynolds, Esq., filed as Exhibit 10.12 to the registrant’s registration statement on October 25, 2010, Commission File Number 333-166884.
10.13**	Amended Warrant dated August 13, 2012, for 8,000,000 shares issued to Norman T. Reynolds, Esq., filed as Exhibit 10.13 to the registrant’s Report on Form 10-K on February 5, 2014, Commission File Number 333-166884.
10.14**	Employment Agreement between Litigation Dynamics, Inc. and Zane Russell dated January 20, 2012, filed as Exhibit 10.14 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.15**	Employment Agreement between Litigation Dynamics, Inc. and J. Michael Moore dated January 20, 2012, filed as Exhibit 10.15 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.16**	Master Services Agreement between Litigation Dynamics, Inc. and VR Holdings, Inc. dated January 20, 2012, filed as Exhibit 10.16 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.17**	Subscription Agreement executed by Litigation Dynamics, Inc. shareholders on January 20, 2012, in connection with the merger of VRH Merger Sub, Inc. and Litigation Dynamics, Inc., filed as Exhibit 10.17 to the registrant’s Report on Form 8-K/A on January 23, 2012, Commission File Number 333-166884.
10.18**	Promissory note executed by Pine Springs Capital, LLC dated March 31, 2011, in the amount of $11,250.00 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.18 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.19**	Promissory note executed by New Course Group dated June 10, 2011, in the amount of $3,930.55 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.19 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.20**	Promissory note executed by New Course Group dated June 3, 2011, in the amount of $5,711.38 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.20 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.

10.19**	Promissory note executed by New Course Group dated June 10, 2011, in the amount of $3,930.55 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.19 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.20**	Promissory note executed by New Course Group dated June 3, 2011, in the amount of $5,711.38 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.20 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.21**	Promissory note executed by Pine Springs Capital, LLC dated May 20, 2011, in the amount of $4,000.00 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.21 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.22**	Promissory note executed by New Course Group dated June 29, 2011, in the amount of $3,220.51 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.22 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.23**	Promissory note executed by ProduClear, Inc. dated April 13, 2011, in the amount of $2,500.00 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.23 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.24**	Promissory note executed by Texas Golfer Magazine dated April 1, 2011, in the amount of $3,250.00 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.24 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.25**	Promissory note executed by Trekmore dated April 8, 2011, in the amount of $5,000.00 payable to the order of Litigation Dynamics, Inc., filed as Exhibit 10.25 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.26**	Promissory note executed by Litigation Dynamics, Inc. dated May 5, 2011, in the amount of $50,000.00 payable to the order of Robert Embry, filed as Exhibit 10.26 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.27**	Promissory note executed by Litigation Dynamics, Inc. dated April 25, 2011, in the amount of $50,000.00 payable to the order of Michael Jud, filed as Exhibit 10.27 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.28**	Promissory note executed by Litigation Dynamics, Inc. dated April 19, 2011, in the amount of $5,000.00 payable to the order of Michael Jud, filed as Exhibit 10.28 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.29**	Promissory note executed by Litigation Dynamics, Inc. dated April 8, 2011, in the amount of $75,000.00 payable to the order of Robert Embry, filed as Exhibit 10.29 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.30**	Promissory note executed by Litigation Dynamics, Inc. dated April 8, 2011, in the amount of $75,000.00 payable to the order of 2005 Braden Interest, Ltd., filed as Exhibit 10.30 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.31**	Promissory note executed by Litigation Dynamics, Inc. dated March 21, 2011, in the amount of $45,000.00 payable to the order of Charles Jud, filed as Exhibit 10.31 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.32**	Separation Agreement by and between VR Holdings, Inc., Litigation Dynamics, Inc., J. Michael Moore, Zane Russell, CapNet Securities Corporation, John E. Baker, Deohge Corp., Pamela Lapides, The Cancer Foundation, Inc., John Foster Woods, and Barry L. Dahne, dated September 24, 2012, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.33**	Assumption Agreement for Litigation Dynamics, Inc. by and between VR Holdings, Inc. and Litigation Dynamics, Inc., dated September 24, 2012, filed as Exhibit 10.2 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.34**	Assumption Agreement for VR Holdings, Inc. by and between VR Holdings, Inc. and Litigation Dynamics, Inc., dated September 24, 2012, filed as Exhibit 10.3 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.35**	Form of VR Holdings, Inc. Distribution Agreement, filed as Exhibit 10.4 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.

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10.26**	Promissory note executed by Litigation Dynamics, Inc. dated May 5, 2011, in the amount of $50,000.00 payable to the order of Robert Embry, filed as Exhibit 10.26 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.27**	Promissory note executed by Litigation Dynamics, Inc. dated April 25, 2011, in the amount of $50,000.00 payable to the order of Michael Jud, filed as Exhibit 10.27 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.28**	Promissory note executed by Litigation Dynamics, Inc. dated April 19, 2011, in the amount of $5,000.00 payable to the order of Michael Jud, filed as Exhibit 10.28 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.29**	Promissory note executed by Litigation Dynamics, Inc. dated April 8, 2011, in the amount of $75,000.00 payable to the order of Robert Embry, filed as Exhibit 10.29 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.30**	Promissory note executed by Litigation Dynamics, Inc. dated April 8, 2011, in the amount of $75,000.00 payable to the order of 2005 Braden Interest, Ltd., filed as Exhibit 10.30 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.31**	Promissory note executed by Litigation Dynamics, Inc. dated March 21, 2011, in the amount of $45,000.00 payable to the order of Charles Jud, filed as Exhibit 10.31 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.
10.32**	Separation Agreement by and between VR Holdings, Inc., Litigation Dynamics, Inc., J. Michael Moore, Zane Russell, CapNet Securities Corporation, John E. Baker, Deohge Corp., Pamela Lapides, The Cancer Foundation, Inc., John Foster Woods, and Barry L. Dahne, dated September 24, 2012, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.33**	Assumption Agreement for Litigation Dynamics, Inc. by and between VR Holdings, Inc. and Litigation Dynamics, Inc., dated September 24, 2012, filed as Exhibit 10.2 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.34**	Assumption Agreement for VR Holdings, Inc. by and between VR Holdings, Inc. and Litigation Dynamics, Inc., dated September 24, 2012, filed as Exhibit 10.3 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.35**	Form of VR Holdings, Inc. Distribution Agreement, filed as Exhibit 10.4 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.36**	Assumption and Novation Agreement is made by and between VR Holdings, Inc., Litigation Dynamics, Inc., and Structured Financial Service, LLC, dated September 24, 2012, filed as Exhibit 10.5 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.37**	Non-Exclusive Software Reseller Agreement by and between Innovative Litigation Services. LLC and Litigation Dynamics, Inc., filed as Exhibit 10.6 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.38**	VR Holdings, Inc. promissory note payable to the order of Structured Financial Service, LLC in the amount of $50,000, dated May 23, 2012, filed as Exhibit 10.7 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.39**	Warrant dated August 30, 2010, for 1,000,000 shares issued to Stephen H. Marcus, Esq., filed as Exhibit 10.13 to the registrant’s registration statement on October 25, 2010, Commission File Number 333-166884.
10.40**	Consulting Agreement by and between VR Holdings, Inc. and Schneider Mitigation Group, dated August 15, 2013, but effective as of August 1, 2013, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on August 16, 2013, Commission File Number 333-166884.
10.41**	Letter of Intent was executed by VR Holdings, Inc., a Delaware corporation (“VR Holdings”) and China MPP Ventures, LLC, a Maryland limited liability company (“CMPP”) dated January 5, 2013, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on January 8, 2014, Commission File Number 333-166884.
10.42**	Letter of resignation as a director by Harry J, Conn, dated January 6, 2014, filed as Exhibit 10.2 to the registrant’s Report on Form 8-K on January 8, 2014, Commission File Number 333-166884.
10.43**	Letter of resignation as a director and officer by John E. Baker, dated January 9, 2014, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on January 12, 2014, Commission File Number 333-166884.
31.1*	Certification of Matthew A. Lapides, Chief Executive Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
31.2*	Certification of Matthew A. Lapides, Chief Financial Officer and Principal Accounting Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
32.1*	Certification of Matthew A. Lapides, Chief Executive Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.
32.2*	Certification of Matthew A. Lapides, Chief Financial Officer and Principal Accounting Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.
99.1**	Audited Financial Statements of Litigation Dynamics, Inc., a Texas corporation, and Pro forma financial information, filed as Exhibit 99.1 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.

10.37**	Non-Exclusive Software Reseller Agreement by and between Innovative Litigation Services. LLC and Litigation Dynamics, Inc., filed as Exhibit 10.6 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.38**	VR Holdings, Inc. promissory note payable to the order of Structured Financial Service, LLC in the amount of $50,000, dated May 23, 2012, filed as Exhibit 10.7 to the registrant’s Report on Form 8-K on September 26, 2012, Commission File Number 333-166884.
10.39**	Warrant dated August 30, 2010, for 1,000,000 shares issued to Stephen H. Marcus, Esq., filed as Exhibit 10.13 to the registrant’s registration statement on October 25, 2010, Commission File Number 333-166884.
10.40**	Consulting Agreement by and between VR Holdings, Inc. and Schneider Mitigation Group, dated August 15, 2013, but effective as of August 1, 2013, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on August 16, 2013, Commission File Number 333-166884.
10.41**	Letter of Intent was executed by VR Holdings, Inc., a Delaware corporation (“VR Holdings”) and China MPP Ventures, LLC, a Maryland limited liability company (“CMPP”) dated January 5, 2013, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on January 8, 2014, Commission File Number 333-166884.
10.42**	Letter of resignation as a director by Harry J, Conn, dated January 6, 2014, filed as Exhibit 10.2 to the registrant’s Report on Form 8-K on January 8, 2014, Commission File Number 333-166884.

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10.43**	Letter of resignation as a director and officer by John E. Baker, dated January 9, 2014, filed as Exhibit 10.1 to the registrant’s Report on Form 8-K on January 12, 2014, Commission File Number 333-166884.
31.1*	Certification of Matthew A. Lapides, Chief Executive Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
31.2*	Certification of Matthew A. Lapides, Chief Financial Officer and Principal Accounting Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
32.1*	Certification of Matthew A. Lapides, Chief Executive Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.
32.2*	Certification of Matthew A. Lapides, Chief Financial Officer and Principal Accounting Officer of VR Holdings, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.
99.1**	Audited Financial Statements of Litigation Dynamics, Inc., a Texas corporation, and Pro forma financial information, filed as Exhibit 99.1 to the registrant’s Report on Form 8-K/A on March 7, 2012, Commission File Number 333-166884.

____________

* Filed herewith.

** Previously filed.

Table of Contents ~~-25-~~29

SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

VR HOLDINGS, INC.

Date: ~~September~~December 164, 2014.

By /s/ Matthew A. Lapides

Matthew A. Lapides, Chief Executive Officer

By /s/ Matthew A. Lapides

Matthew A. Lapides, Chief Financial Officer and

Principal Accounting ~~Officer~~Office

Table of Contents ~~-26-~~30

Filing Compare · VR Holdings, Inc.