10-K Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001654954-20-010986`
Period End Date	20200630
Filing Date	20201009
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	vism-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 31 Cash Flow Statement 52 Stockholders Equity 21

Balance Sheet 47 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`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$18.67K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.25K	USD	Point-in-time
Total assets	`Assets`	$18.67K	USD	Point-in-time
Total assets	`Assets`	$30.25K	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`	$213.81K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.54B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.61M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$333.81K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$316.53K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.54B	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$652.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$677.86K	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 $0 and $158,333	`ConvertibleNotesPayableCurrent`	$917.10K	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $158,333	`ConvertibleNotesPayableCurrent`	$852.96K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$807.05K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$438.55K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$102.34K	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`	$3.41M	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: 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020, and 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019, respectively (See Note 6)	`CommonStockValue`	$4.21K	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020, and 45,610,716 shares issued and 42,066,269 outstanding at June 30, 2019, respectively (See Note 6)	`CommonStockValue`	$154.41K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$44.44M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$43.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.45M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$30.25K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$18.67K	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$917.99K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.72M	USD	Annual
Development expense	`OtherExpenses`	$35.50K	USD	Annual
Amortization expense	`AdjustmentForAmortization`	$141.97K	USD	Annual
Amortization expense	`AdjustmentForAmortization`	-	USD	Annual
Total operating expenses	`OperatingExpenses`	$953.49K	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.86M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.86M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-953.49K	USD	Annual
Loss on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$385.37K	USD	Annual
Loss on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-183.13K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$341.42K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	Annual
Interest expense	`InterestExpenseOther`	$276.09K	USD	Annual
Interest expense	`InterestExpenseOther`	$323.02K	USD	Annual
Gain (loss) on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$2.30M	USD	Annual
Gain (loss) on debt write off	`GainsLossesOnExtinguishmentOfDebt`	$-593.91K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$407.00K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Other income	`OtherNonoperatingIncome`	$10.00K	USD	Annual
Other income	`OtherNonoperatingIncome`	$4.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$1.11M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-588.96K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.76M	USD	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.99M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	312.63M	shares	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.76M	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`	$141.67K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$206.25K	USD	Annual
Stock based payments for consultants, directors and officers	`ShareBasedCompensation`	$346.74K	USD	Annual
Stock based payments for consultants, directors and officers	`ShareBasedCompensation`	$2.08M	USD	Annual
Gain (loss) on debt settlement write off	`GainsLossesOnExtinguishmentOfDebt`	$2.30M	USD	Annual
Gain (loss) on debt settlement write off	`GainsLossesOnExtinguishmentOfDebt`	$-593.91K	USD	Annual
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$385.37K	USD	Annual
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-183.13K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$341.42K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$407.00K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-90.75K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$130.83K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$160.70K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$336.00K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$133.19K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$145.94K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-566.75K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-106.76K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$40.34K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$41.00K	USD	Annual
Proceed from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceed from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$250.50K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$282.50K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$78.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$118.34K	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`	$11.58K	USD	Annual
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.41K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$1.24K	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of common stock for conversion of notes payable and accrued interest (fair value of the shares issued 0 $1,059,572)	`ProceedsFromIssuanceOrSaleOfEquity`	$333.22K	USD	Annual
Issuance of common stock for conversion of notes payable and accrued interest (fair value of the shares issued 0 $1,059,572)	`ProceedsFromIssuanceOrSaleOfEquity`	$201.06K	USD	Annual
Change in fair value of derivative liability related to debt conversions	`IncreaseDecreaseInDerivativeLiabilities`	$92.44K	USD	Annual
Change in fair value of derivative liability related to debt conversions	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	Annual
Issuance of common stock for acquisition of Threat Surface Solutions Group	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Issuance of common stock for acquisition of Threat Surface Solutions Group	`StockIssuedDuringPeriodValueAcquisitions`	$500.00K	USD	Annual
Derivative liability attributable to debt discount on notes payable	`DerivativeLiabilityAttributableToDebtDiscountOnNotesPayable`	$48.00K	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
Beginning balance, amount	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Shares issued as compensation to directors and officers, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$148.00K	USD	Annual
Shares issued as compensation to directors and officers, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.90M	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$174.50K	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$198.74K	USD	Annual
Proceeds from sale of common stock, shares	`StockIssuedDuringPeriodSharesNewIssues`	2.50M	shares	Annual
Proceeds from sale of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$250.50K	USD	Annual
Shares issued for conversion of notes payable, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	1.99M	shares	Annual
Shares issued for conversion of notes payable, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	954.21M	shares	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$201.05K	USD	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$1.06M	USD	Annual
Acquisition of TSSG, shares	`StockIssuedDuringPeriodSharesAcquisitions`	1.54M	shares	Annual
Acquisition of TSSG, amount	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Acquisition of TSSG, amount	`StockIssuedDuringPeriodValueAcquisitions`	$500.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.76M	USD	Annual
Ending balance, amount	`StockholdersEquity`	$-4.51M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.24M	USD	Point-in-time

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