10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-20-012256`
Period End Date	20200930
Filing Date	20201112
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	vism-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 24 Cash Flow Statement 38 Stockholders Equity 15

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.94K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.94K	USD	Point-in-time
Total assets	`Assets`	$1.94K	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
Common stock, shares issued	`CommonStockSharesIssued`	2.03B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.54B	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$333.81K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.54B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.03B	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$438.23K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$736.53K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$652.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$677.86K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$701.47K	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	`ConvertibleNotesPayableCurrent`	$782.49K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$852.96K	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`	$438.55K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$314.22K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$102.34K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$96.84K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.42M	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: 2,026,742,014 shares issued and 2,026,275,356 shares outstanding as of September 30, 2020 and 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020 (See Note 7)	`CommonStockValue`	$154.41K	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 2,026,742,014 shares issued and 2,026,275,356 shares outstanding as of September 30, 2020 and 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020 (See Note 7)	`CommonStockValue`	$202.63K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$44.44M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$44.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-48.34M	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`	$-3.38M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.42M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.94K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$30.25K	USD	Point-in-time

Income Statement 24 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`	$199.06K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$193.20K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$95.00K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$35.50K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$288.20K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$234.56K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-288.20K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-234.56K	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$278.01K	USD	1 Quarter
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$124.33K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$26.91K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$100.48K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-40.41K	USD	1 Quarter
Loss on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$-154.90K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$137.12K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-57.48K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-97.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-345.67K	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	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`	1.83B	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-97.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-345.67K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$29.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$72.00K	USD	1 Quarter
Gain on change derivative liabilities	`DerivativeLossOnDerivative`	$-278.01K	USD	1 Quarter
Gain on change derivative liabilities	`DerivativeLossOnDerivative`	$-124.33K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-40.41K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-154.90K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$71.39K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$109.38K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$102.45K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$26.91K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$29.09K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$84.00K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$84.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.11K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.82K	USD	1 Quarter
Advances from (repayment to) officers, net	`ProceedsFromRelatedPartyDebt`	$3.00K	USD	1 Quarter
Advances from (repayment to) officers, net	`ProceedsFromRelatedPartyDebt`	$-5.50K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.50K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-16.11K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-28.32K	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.56K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.94K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.56K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.94K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	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 (fair value of the shares issued - $233,619)	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurity`	$174.84K	USD	1 Quarter
Issuance of common stock for conversion of notes payable and accrued interest (fair value of the shares issued - $233,619)	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurity`	$73.77K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.42M	USD	Point-in-time
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$45.00K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$27.00K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$29.00K	USD	1 Quarter
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$174.84K	USD	1 Quarter
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$233.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-97.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-345.67K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.42M	USD	Point-in-time

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