Multiply mass by velocity, then square the result.
If you multiply the mass by the speed of light and square the result, you get a mushroom...cloud.
I require a bit more explanation, as.
We can assume E=E, right?
And we know that E=MC^2
So how can E=MV^2 also?
I've done some looking, and I can't find any references to your equation. The closest I can find is E=1/2(MV)^2 written in various forms, but all include energy being equivocal to half of the product of mass times velocity squared.
But even so, whichever way is correct, or if both are correct E still can't equal E.
E=MC^2≠MV^2 (See post note)
PS: Unless of course with V we're talking about V of light... Which apparently makes sense, something about matter and energy being made of the same rudimentary stuff, and subatomic particles vibrating at V/M..