10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-21-005789`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	vism-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 56 Cash Flow Statement 56 Stockholders Equity 32

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	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`	$276.10K	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`	$276.10K	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, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$276.10K	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`	3.05B	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$383.98K	USD	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`	2.87B	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$615.03K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$652.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$709.57K	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, net of discount of $416,912 at March 31, 2021	`ConvertibleNotesPayableCurrent`	$1.07M	USD	Point-in-time
Convertible notes payable, net of discount of $416,912 at March 31, 2021	`ConvertibleNotesPayableCurrent`	$852.96K	USD	Point-in-time
Notes payable , net of discount of $87,827 at march 31, 2021	`NotesPayableCurrent`	$342.17K	USD	Point-in-time
Notes payable , net of discount of $87,827 at march 31, 2021	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$1.12M	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`	$4.39M	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: 3,050,598,148 shares issued and 2,869,031,492 shares outstanding as of March 31, 2021 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: 3,050,598,148 shares issued and 2,869,031,492 shares outstanding as of March 31, 2021 and 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020 (See Note 7)	`CommonStockValue`	$286.90K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$44.44M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$47.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.99M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.17M	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`	$-3.24M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.11M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$30.25K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$276.10K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	3 Qtrs
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.00K	USD	3 Qtrs
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.00K	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$189.68K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.74M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.10M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$604.44K	USD	3 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$37.21K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$143.20K	USD	3 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$35.50K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.24M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$189.68K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$639.94K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-189.68K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.75M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-639.94K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.22M	USD	3 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$462.25K	USD	3 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-23.32K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$855.59K	USD	3 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$1.41M	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	3 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	3 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-267.88K	USD	3 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-180.00K	USD	3 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$28.86K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-169.06K	USD	1 Quarter
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	3 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	1 Quarter
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	1 Quarter
Warrant exercise expense	`WarrantExerciseExpense`	$211.41K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$271.64K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$171.57K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$72.19K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$247.58K	USD	3 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$203.09K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-138.49K	USD	3 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-842.69K	USD	3 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-264.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-454.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-778.43K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.06M	USD	3 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Loss per common share basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.96B	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	105.94M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	191.03M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.77B	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-454.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-778.43K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.06M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$184.74K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.59M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$179.11K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$168.80K	USD	3 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	3 Qtrs
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	1 Quarter
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	1 Quarter
Warrant exercise expense	`WarrantExerciseExpense`	$211.41K	USD	3 Qtrs
Gain on change in fair value of derivative liability	`DerivativeLossOnDerivative`	$-462.25K	USD	3 Qtrs
Gain on change in fair value of derivative liability	`DerivativeLossOnDerivative`	$-855.59K	USD	3 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	3 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	3 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-267.88K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-180.00K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$28.86K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-169.06K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$86.22K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$121.91K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$67.47K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$53.63K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$252.00K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-37.50K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-106.18K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-603.11K	USD	3 Qtrs
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$48.00K	USD	3 Qtrs
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$800.00K	USD	3 Qtrs
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$73.70K	USD	3 Qtrs
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$225.00K	USD	3 Qtrs
Advances from (repayments to) officers	`ProceedsFromRelatedPartyDebt`	$-102.34K	USD	3 Qtrs
Advances from (repayments to) officers	`ProceedsFromRelatedPartyDebt`	$39.84K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$848.96K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$87.84K	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$245.85K	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-18.34K	USD	3 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$326.00	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$276.10K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$326.00	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$276.10K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$40.97K	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurity`	$93.26K	USD	3 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurity`	$223.68K	USD	3 Qtrs

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-4.17M	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`	$-3.24M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-4.11M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$52.00K	USD	3 Qtrs
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.46M	USD	3 Qtrs
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.42M	USD	1 Quarter
Shares issued as compensation, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$24.00K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$125.75K	USD	3 Qtrs
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$86.75K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$132.74K	USD	3 Qtrs
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$39.73K	USD	1 Quarter
Shares issued for conversion of notes payable and accrued interest, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	524.54M	shares	3 Qtrs
Shares issued for conversion of notes payable and accrued interest, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	234.21M	shares	3 Qtrs
Shares issued for conversion of notes payable and accrued interest, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$391.04K	USD	3 Qtrs
Shares issued for conversion of notes payable and accrued interest, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$612.46K	USD	3 Qtrs
Shares issued for conversion of notes payable and accrued interest, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$90.56K	USD	1 Quarter
Shares issued for conversion of notes payable and accrued interest, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$307.58K	USD	1 Quarter
Commitment shares issued pursuant to financings, amount	`CommitmentSharesIssuedPursuantToFinancingsAmount`	$133.03K	USD	3 Qtrs
Shares issued for exercise of warrants, amount	`SharesIssuedForExerciseOfWarrantsAmount`	$211.41K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-454.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-778.43K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.06M	USD	3 Qtrs
Ending balance, amount	`StockholdersEquity`	$-4.17M	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`	$-3.24M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-4.11M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-3.23M	USD	Point-in-time

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