10-K Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001493152-18-012383`
Period End Date	20180630
Filing Date	20180820
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	vism-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 26 Cash Flow Statement 48 Stockholders Equity 20

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$27.08K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.31K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.81K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.31K	USD	Point-in-time
Total assets	`Assets`	$2.31K	USD	Point-in-time
Total assets	`Assets`	$11.41K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00B	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$626.58K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.21M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	499,152.00	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$565.47K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.38M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	499,152.00	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$65.83K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$155.82K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.49M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.69M	USD	Point-in-time
Convertible notes payable to ASC Recap LLC	`ConvertibleNotesPayableToRelatedPartiesCurrent`	$147.97K	USD	Point-in-time
Convertible notes payable to ASC Recap LLC	`ConvertibleNotesPayableToRelatedPartiesCurrent`	$147.97K	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $27,083, respectively	`ConvertibleNotesPayableCurrent`	$1.62M	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $27,083, respectively	`ConvertibleNotesPayableCurrent`	$2.17M	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$270.24K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$270.24K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$21.00K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$214.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.53M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 23,212,549 shares issued and 9,376,441 outstanding at June 30, 2018, and 499,152 shares issued and outstanding at June 30, 2017, respectively (See Note 5)	`CommonStockValue`	$937.00	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 23,212,549 shares issued and 9,376,441 outstanding at June 30, 2018, and 499,152 shares issued and outstanding at June 30, 2017, respectively (See Note 5)	`CommonStockValue`	$50.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$40.16M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$38.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-44.69M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.93M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.50M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$11.41K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.31K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.04M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.06M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.06M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.04M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.04M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.06M	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$636.10K	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Interest expense	`InterestExpenseOther`	$275.98K	USD	Annual
Interest expense	`InterestExpenseOther`	$339.35K	USD	Annual
Debt conversion expense	`DebtConversionExpense`	-	USD	Annual
Debt conversion expense	`DebtConversionExpense`	$-96.27K	USD	Annual
Gain on debt settlement	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on debt settlement	`GainsLossesOnExtinguishmentOfDebt`	$25.14K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-347.11K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$296.75K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.39M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.76M	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.00M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	118,087.00	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	118,087.00	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.00M	shares	Annual
Net loss Per Common Share - Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-14.91	USD	Annual
Net loss Per Common Share - Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.70	USD	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.39M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.76M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$81.67K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$27.08K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$658.10K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$1.08M	USD	Annual
Gain on forgiveness of debt	`GainOnForgivenessOfDebt`	$-25.14K	USD	Annual
Gain on forgiveness of debt	`GainOnForgivenessOfDebt`	-	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainOnDerivative`	$636.10K	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainOnDerivative`	-	USD	Annual
Convertible note issued for severance agreement	`ConvertibleNoteIssuedForSeveranceAgreement`	$-480.00K	USD	Annual
Convertible note issued for severance agreement	`ConvertibleNoteIssuedForSeveranceAgreement`	-	USD	Annual
Debt conversion expense	`DebtConversionExpense`	-	USD	Annual
Debt conversion expense	`DebtConversionExpense`	$-96.27K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayable`	$-46.44K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayable`	$94.96K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$240.00K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$264.30K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$257.68K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$239.67K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-278.99K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.40K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$21.00K	USD	Annual
Proceed from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceed from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00K	USD	Annual
Proceeds from short term note payable	`ProceedsFromShortTermDebt`	$30.00K	USD	Annual
Proceeds from short term note payable	`ProceedsFromShortTermDebt`	-	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$249.50K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$37.50K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$279.50K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$68.50K	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.10K	USD	Annual
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$507.00	USD	Annual
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.31K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.81K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.41K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.31K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.81K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$11.41K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of common stock for conversion of debt	`IssuanceOfCommonStockForConversionOfDebt`	$141.43K	USD	Annual
Issuance of common stock for conversion of debt	`IssuanceOfCommonStockForConversionOfDebt`	$169.83K	USD	Annual
Issuance of common stock to satisfy accrued compensation	`IssuanceOfCommonStockToSatisfyAccruedCompensation`	$80.00K	USD	Annual
Issuance of common stock to satisfy accrued compensation	`IssuanceOfCommonStockToSatisfyAccruedCompensation`	$242.50K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.50M	USD	Point-in-time
Shares issued as compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.08M	USD	Annual
Shares issued as compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$358.50K	USD	Annual
Shares issued for accrued compensation	`SharesIssuedDuringPeriodValueForAccruedCompensation`	$80.00K	USD	Annual
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$169.83K	USD	Annual
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$141.43K	USD	Annual
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$299.60K	USD	Annual
Shares issued for accrued payables	`SharesIssuedForAccruedPayables`	$60.00K	USD	Annual
Proceeds from sale of stock	`StockIssuedDuringPeriodValueNewIssues`	$10.00K	USD	Annual
Shares issued due to reverse split (rounding)	`SharesIssuedDueToReverseSplit`	-	USD	Annual
Debt conversion expense	`DebtConversionExpenses`	$96.27K	USD	Annual
Debt conversion expense	`DebtConversionExpenses`	-	USD	Annual
Forgiveness of debt due to former officer	`ForgivenessOfDebtDueToFormerOfficer`	$839.63K	USD	Annual
Net income/ loss for the year ended	`NetIncomeLoss`	$-1.39M	USD	Annual
Net income/ loss for the year ended	`NetIncomeLoss`	$-1.76M	USD	Annual
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.50M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.