10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-19-017168`
Period End Date	20190930
Filing Date	20191114
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	vism-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 25 Cash Flow Statement 40 Stockholders Equity 16

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$158.33K	USD	Point-in-time
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$72.98K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$18.67K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.56K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.56K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.67K	USD	Point-in-time
Total assets	`Assets`	$18.67K	USD	Point-in-time
Total assets	`Assets`	$2.56K	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
Common stock, shares issued	`CommonStockSharesIssued`	66.57M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$311.80K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$213.81K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.61M	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$400.53K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.51M	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$316.53K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.07M	shares	Point-in-time
Accrued interest	`InterestPayableCurrent`	$593.84K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$606.80K	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 $72,979 and $158,333	`ConvertibleNotesPayableCurrent`	$932.81K	USD	Point-in-time
Convertible notes payable, net of discount of $72,979 and $158,333	`ConvertibleNotesPayableCurrent`	$917.10K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$807.05K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$470.87K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$65.00K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$62.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.26M	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: 66,570,933 shares issued and 63,509,819 shares outstanding as of September 30, 2019 and 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019 (See Note 7)	`CommonStockValue`	$4.21K	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 66,570,933 shares issued and 63,509,819 shares outstanding as of September 30, 2019 and 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019 (See Note 7)	`CommonStockValue`	$6.35K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$43.39M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$43.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.55M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-5.08M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.56K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$18.67K	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$437.03K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$199.06K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$35.50K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$234.56K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$437.03K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-437.03K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-234.56K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$278.01K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-567.23K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$100.48K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$55.16K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-40.41K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$137.12K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-622.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-97.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.55M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.36M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.99M	shares	Annual

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-97.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$268.25K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$29.00K	USD	1 Quarter
(Gain) loss on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$278.01K	USD	1 Quarter
(Gain) loss on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-567.23K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-40.41K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$71.39K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.96K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$102.45K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$55.16K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$29.09K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$47.00K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$84.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-137.73K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.11K	USD	1 Quarter
Advances from (repayment to) officers	`ProceedsFromRelatedPartyDebt`	$-1.00K	USD	1 Quarter
Advances from (repayment to) officers	`ProceedsFromRelatedPartyDebt`	$3.00K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$132.80K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$131.80K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.00K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.93K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-16.11K	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.48K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.56K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.48K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.56K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssued1`	$97.31K	USD	1 Quarter
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssued1`	$174.84K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-5.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Shares issued as compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$239.25K	USD	1 Quarter
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$29.00K	USD	1 Quarter
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$29.00K	USD	1 Quarter
Shares issued for sale	`StockIssuedDuringPeriodValueNewIssues`	$132.80K	USD	1 Quarter
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$97.31K	USD	1 Quarter
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$174.84K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-97.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-5.08M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.14M	USD	Point-in-time

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