10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-21-001685`
Period End Date	20201231
Filing Date	20210216
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	vism-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 56 Cash Flow Statement 56 Stockholders Equity 31

Balance Sheet 52 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`	$50.49K	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`	$50.49K	USD	Point-in-time
Total assets	`Assets`	$50.49K	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
Total assets	`Assets`	$30.25K	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`	1.54B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.70B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.70B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.54B	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$333.81K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$387.89K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$789.03K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$652.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$714.32K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$677.86K	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`	$852.96K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayableCurrent`	$742.60K	USD	Point-in-time
Notes payable , net of discount	`NotesPayableCurrent`	$452.10K	USD	Point-in-time
Notes payable , net of discount	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$988.05K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$438.55K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$102.34K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.41M	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: 2,701,199,148 shares issued and 2,700,932,491 shares outstanding as of December 31, 2020 and 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020 (See Note 7)	`CommonStockValue`	$270.09K	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 2,701,199,148 shares issued and 2,700,932,491 shares outstanding as of December 31, 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
Additional paid in capital	`AdditionalPaidInCapital`	$45.05M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$44.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.99M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.42M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.17M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$50.49K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$30.25K	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	2 Qtrs
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
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`	$168.51K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$361.71K	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$35.50K	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$105.99K	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$10.99K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$467.70K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$215.71K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$450.26K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$179.51K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-450.26K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-467.70K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-215.71K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-179.51K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$207.56K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-673.83K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-549.49K	USD	2 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$485.57K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	2 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-58.41K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-53.96K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-208.86K	USD	2 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-98.82K	USD	2 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	$211.41K	USD	2 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	$211.41K	USD	1 Quarter
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	2 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$49.10K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$199.28K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$76.00K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$98.79K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$126.08K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-1.05M	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-11.04K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-988.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-324.19K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-226.75K	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`	$-0.00	USD	2 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	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`	2.14B	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	813.35M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.93B	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-324.19K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-226.75K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$84.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$121.00K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$140.74K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$20.13K	USD	2 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	$211.41K	USD	2 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	$211.41K	USD	1 Quarter
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	2 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	1 Quarter
(Gain) loss on change in fair value of derivative liability	`DerivativeLossOnDerivative`	$549.49K	USD	2 Qtrs
(Gain) loss on change in fair value of derivative liability	`DerivativeLossOnDerivative`	$-485.57K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-58.41K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-53.96K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-208.86K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-98.82K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$62.61K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$87.70K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$58.53K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$36.47K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$136.50K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$168.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-98.66K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-178.92K	USD	2 Qtrs
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$42.50K	USD	2 Qtrs
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$18.88K	USD	2 Qtrs
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$320.38K	USD	2 Qtrs
Advances from officers	`ProceedsFromRelatedPartyDebt`	$-102.34K	USD	2 Qtrs
Advances from officers	`ProceedsFromRelatedPartyDebt`	$37.90K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$199.16K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$80.40K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-18.26K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$20.24K	USD	2 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$405.00	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$50.49K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$405.00	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$50.49K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$15.81K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurity`	$304.88K	USD	2 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurity`	$93.26K	USD	2 Qtrs

Stockholders Equity 31 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.42M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-4.17M	USD	Point-in-time
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$28.00K	USD	1 Quarter
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$28.00K	USD	2 Qtrs
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$45.00K	USD	2 Qtrs
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$12.00K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$39.00K	USD	2 Qtrs
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$64.00K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$93.00K	USD	2 Qtrs
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$60.72K	USD	1 Quarter
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$294.34K	USD	2 Qtrs
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$130.04K	USD	1 Quarter
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$304.88K	USD	2 Qtrs
Commitment shares issued pursuant to financings, amount	`CommitmentSharesIssuedPursuantToFinancingsAmount`	$133.03K	USD	2 Qtrs
Commitment shares issued pursuant to financings, amount	`CommitmentSharesIssuedPursuantToFinancingsAmount`	$133.03K	USD	1 Quarter
Shares issued for exercise of warrants, amount	`SharesIssuedForExerciseOfWarrantsAmount`	$211.41K	USD	1 Quarter
Shares issued for exercise of warrants, amount	`SharesIssuedForExerciseOfWarrantsAmount`	$211.41K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-324.19K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-226.75K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.24M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.14M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.42M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-4.17M	USD	Point-in-time

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