10-K Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001493152-19-014676`
Period End Date	20190630
Filing Date	20190927
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	vism-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 33 Cash Flow Statement 55 Stockholders Equity 21

Balance Sheet 47 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`	$158.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.41K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$18.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.41K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.67K	USD	Point-in-time
Total assets	`Assets`	$11.41K	USD	Point-in-time
Total assets	`Assets`	$18.67K	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`	45.61M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.21M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$213.81K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.38M	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$155.82K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$316.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.69M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$593.84K	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 $158,333 and $0, respectively	`ConvertibleNotesPayableCurrent`	$1.62M	USD	Point-in-time
Convertible notes payable, net of discount of $158,333 and $0, respectively	`ConvertibleNotesPayableCurrent`	$917.10K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$807.05K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$270.24K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$21.00K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$62.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.53M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019, and 23,212,549 shares issued and 9,376,442 outstanding at June 30, 2018, respectively (See Note 8)	`CommonStockValue`	$4.21K	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019, and 23,212,549 shares issued and 9,376,442 outstanding at June 30, 2018, respectively (See Note 8)	`CommonStockValue`	$937.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$43.18M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$40.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-44.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.45M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.93M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$11.41K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$18.67K	USD	Point-in-time

Income Statement 33 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`	$2.72M	USD	Annual
Amortization expense	`AdjustmentForAmortization`	$141.97K	USD	Annual
Amortization expense	`AdjustmentForAmortization`	-	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.86M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.04M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.86M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.04M	USD	Annual
Loss on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Loss on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-183.13K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$341.42K	USD	Annual
Interest expense	`InterestExpenseOther`	$275.98K	USD	Annual
Interest expense	`InterestExpenseOther`	$276.09K	USD	Annual
Debt conversion expense	`DebtConversionExpense`	$-96.27K	USD	Annual
Debt conversion expense	`DebtConversionExpense`	-	USD	Annual
Gain on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$2.29M	USD	Point-in-time
Gain on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$2.30M	USD	Annual
Gain on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$25.14K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$407.00K	USD	Annual
Other income	`OtherNonoperatingIncome`	$10.00K	USD	Annual
Other income	`OtherNonoperatingIncome`	-	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$1.11M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-347.11K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.76M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.39M	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.00M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.99M	shares	Annual
Net loss Per Common Share - Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.70	USD	Annual
Net loss Per Common Share - Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.76M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.39M	USD	Annual
Amortization expense related to intangible asset	`AdjustmentForAmortization`	$141.97K	USD	Annual
Amortization expense related to intangible asset	`AdjustmentForAmortization`	-	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$27.08K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$141.67K	USD	Annual
Stock based payments for consultants, directors and officers	`ShareBasedCompensation`	$658.10K	USD	Annual
Stock based payments for consultants, directors and officers	`ShareBasedCompensation`	$2.08M	USD	Annual
Gain on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$2.29M	USD	Point-in-time
Gain on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$2.30M	USD	Annual
Gain on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$25.14K	USD	Annual
Loss on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Loss on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-183.13K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$341.42K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$407.00K	USD	Annual
Debt conversion expense	`DebtConversionExpense`	$-96.27K	USD	Annual
Debt conversion expense	`DebtConversionExpense`	-	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-90.75K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$94.96K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$240.00K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$160.70K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$133.19K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$239.67K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.40K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-566.75K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$21.00K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$41.00K	USD	Annual
Proceed from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$250.50K	USD	Annual
Proceed from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$37.50K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$282.50K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$68.50K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$574.00K	USD	Annual
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.26K	USD	Annual
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$9.10K	USD	Annual
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.31K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.31K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	$1.24K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of common stock for conversion of debt	`StockIssued1`	$141.43K	USD	Annual
Issuance of common stock for conversion of debt	`StockIssued1`	$201.06K	USD	Annual
Issuance of common stock for acquisition of Threat Surface Solutions Group	`IssuanceOfCommonStockForAcquisition`	-	USD	Annual
Issuance of common stock for acquisition of Threat Surface Solutions Group	`IssuanceOfCommonStockForAcquisition`	$500.00K	USD	Annual
Shares issued for accounts payable	`SharesIssuedForAccountsPayable`	-	USD	Annual
Shares issued for accounts payable	`SharesIssuedForAccountsPayable`	$60.00K	USD	Annual
Derivative liability attributable to debt discount on notes payable	`DerivativeLiabilityAttributableToDebtDiscountOnNotesPayable`	-	USD	Annual
Derivative liability attributable to debt discount on notes payable	`DerivativeLiabilityAttributableToDebtDiscountOnNotesPayable`	$282.50K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Shares issued as compensation to directors and officers	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.90M	USD	Annual
Shares issued as compensation to directors and officers	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$358.50K	USD	Annual
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$174.50K	USD	Annual
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$299.60K	USD	Annual
Shares issued for accrued payables	`SharesIssuedForAccruedPayables`	$60.00K	USD	Annual
Shares issued due to reverse split (rounding)	`SharesIssuedDueToReverseSplit`	-	USD	Annual
Proceeds from sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$250.50K	USD	Annual
Proceeds from sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$10.00K	USD	Annual
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$141.43K	USD	Annual
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$201.05K	USD	Annual
Debt conversion expense	`DebtConversionExpenses`	$96.27K	USD	Annual
Forgiveness of debt due to former officer	`ForgivenessOfDebtDueToFormerOfficer`	$839.63K	USD	Annual
Acquisition of TSSG	`StockIssuedDuringPeriodValueAcquisitions`	$500.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.76M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.39M	USD	Annual
Balance	`StockholdersEquity`	$-4.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time

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