10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-002019`
Period End Date	20191231
Filing Date	20200212
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	vism-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 56 Cash Flow Statement 62 Stockholders Equity 32

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$47.82K	USD	Point-in-time
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$158.33K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$405.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$18.67K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$18.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$405.00	USD	Point-in-time
Total assets	`Assets`	$18.67K	USD	Point-in-time
Total assets	`Assets`	$405.00	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`	45.61M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$259.96K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	116.43M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$213.81K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$316.53K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	113.85M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.07M	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$484.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$633.40K	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 $47,818 and $158,333	`ConvertibleNotesPayableCurrent`	$974.23K	USD	Point-in-time
Convertible notes payable, net of discount of $47,818 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`	$338.35K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$62.00K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$99.90K	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: 116,427,923 shares issued and 113,850,143 shares outstanding as of December 31, 2019 and 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019 (See Note 6)	`CommonStockValue`	$4.21K	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 116,427,923 shares issued and 113,850,143 shares outstanding as of December 31, 2019 and 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019 (See Note 6)	`CommonStockValue`	$11.38K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$43.18M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$43.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.77M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.25M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-5.08M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$405.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$18.67K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	2 Qtrs
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$215.71K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$414.76K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.13M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$691.16K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	-	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$35.50K	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$41.76K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$41.76K	USD	2 Qtrs
Amortization expense	`AdjustmentForAmortization`	-	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	-	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$450.26K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$732.91K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.17M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$215.71K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-450.26K	USD	2 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-732.91K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-215.71K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.17M	USD	2 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-194.25K	USD	2 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$485.57K	USD	2 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$372.98K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$207.56K	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	2 Qtrs
Gain (loss) on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-98.82K	USD	2 Qtrs
Gain (loss) on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-58.41K	USD	1 Quarter
Gain (loss) on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$10.98K	USD	1 Quarter
Gain (loss) on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$10.98K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$56.44K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$199.28K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$98.79K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$111.60K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-294.87K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$126.08K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-11.04K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$327.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-324.19K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-226.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-405.39K	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.27M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	63.86M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	81.35M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.39M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-324.19K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-226.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-405.39K	USD	1 Quarter
Loss on change in fair value of derivative liability	`DerivativeLossOnDerivative`	-	USD	2 Qtrs
Loss on change in fair value of derivative liability	`DerivativeLossOnDerivative`	$194.25K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$121.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$780.04K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$140.74K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization expense	`AdjustmentForAmortization`	$41.76K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$41.76K	USD	2 Qtrs
Amortization expense	`AdjustmentForAmortization`	-	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	-	USD	2 Qtrs
Gain on change in derivative liability	`DerivativeGainOnDerivative`	$485.57K	USD	2 Qtrs
Gain on change in derivative liability	`DerivativeGainOnDerivative`	-	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-98.82K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-58.41K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$10.98K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$10.98K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.33K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$62.61K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$58.53K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$99.63K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$168.00K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$127.95K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-98.66K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-249.50K	USD	2 Qtrs
Investment in cybersecurity curriculum	`InvestmentInCybersecurityCurriculum`	$28.05K	USD	2 Qtrs
Investment in cybersecurity curriculum	`InvestmentInCybersecurityCurriculum`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.05K	USD	2 Qtrs
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$42.50K	USD	2 Qtrs
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$250.50K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Advances from officers	`ProceedsFromRelatedPartyDebt`	$19.00K	USD	2 Qtrs
Advances from officers	`ProceedsFromRelatedPartyDebt`	$37.90K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$269.50K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$80.40K	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.05K	USD	2 Qtrs
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-18.26K	USD	2 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.36K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$405.00	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.36K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$405.00	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$985.00	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Shares issued for acquisition	`SharesIssuedForAcquisition`	-	USD	2 Qtrs
Shares issued for acquisition	`SharesIssuedForAcquisition`	$500.00K	USD	2 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssued1`	$201.06K	USD	2 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssued1`	$304.88K	USD	2 Qtrs

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$-5.08M	USD	Point-in-time
Shares issued as compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$722.04K	USD	2 Qtrs
Shares issued as compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$28.00K	USD	2 Qtrs
Shares issued as compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$482.79K	USD	1 Quarter
Shares issued as compensation	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$28.00K	USD	1 Quarter
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$93.00K	USD	2 Qtrs
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$29.00K	USD	1 Quarter
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$58.00K	USD	2 Qtrs
Shares issued for consulting services	`StockIssuedDuringPeriodValueIssuedForServices`	$64.00K	USD	1 Quarter
Shares issued for sale	`StockIssuedDuringPeriodValueNewIssues`	$250.50K	USD	2 Qtrs
Shares issued for sale	`StockIssuedDuringPeriodValueNewIssues`	$117.70K	USD	1 Quarter
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$103.75K	USD	1 Quarter
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$201.06K	USD	2 Qtrs
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$304.88K	USD	2 Qtrs
Shares issued for conversion of notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$130.04K	USD	1 Quarter
Acquisition of TSSG	`StockIssuedDuringPeriodValueAcquisitions`	$500.00K	USD	1 Quarter
Acquisition of TSSG	`StockIssuedDuringPeriodValueAcquisitions`	$500.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-324.19K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.46M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-226.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-405.39K	USD	1 Quarter
Balance	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$-4.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$-5.08M	USD	Point-in-time

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