10-K Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001654954-21-011057`
Period End Date	20210630
Filing Date	20211013
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	vism-20210630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 17

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$396.03K	USD	Point-in-time
Notes payable, net of discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$18.25K	USD	Point-in-time
Notes payable, net of discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$125.17K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.25K	USD	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	$55.42K	USD	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$180.58K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.25K	USD	Point-in-time
Total assets	`Assets`	$180.58K	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`	$333.81K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$425.80K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.54B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.10B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.95B	shares	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$672.53K	USD	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`	$366.15K	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 $396,033 and $0, respectively	`ConvertibleNotesPayableCurrent`	$809.20K	USD	Point-in-time
Convertible notes payable, net of discount of $396,033 and $0, respectively	`ConvertibleNotesPayableCurrent`	$852.97K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$184.38K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$438.55K	USD	Point-in-time
Notes payable, net of discount of $18,252 and $0, respectively	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Notes payable, net of discount of $18,252 and $0, respectively	`NotesPayableCurrent`	$411.75K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	$102.34K	USD	Point-in-time
Due to officers	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.02M	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 3,098,271,081 shares issued and 2,946,271,108 outstanding at June 30, 2021, and 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020, respectively (See Note 6)	`CommonStockValue`	$154.41K	USD	Point-in-time
Common stock, $0.0001 par value, 10,000,000,000 shares authorized: 3,098,271,081 shares issued and 2,946,271,108 outstanding at June 30, 2021, and 1,544,793,446 shares issued and 1,544,126,787 outstanding at June 30, 2020, respectively (See Note 6)	`CommonStockValue`	$294.63K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$44.44M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$48.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.99M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$30.25K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$180.58K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.00K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.88M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$917.99K	USD	Annual
Development expense	`OtherExpenses`	$258.17K	USD	Annual
Development expense	`OtherExpenses`	$35.50K	USD	Annual
Total operating expenses	`OperatingExpenses`	$953.49K	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.14M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-953.49K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.11M	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$1.84M	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$385.37K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	Annual
Interest expense	`InterestExpenseOther`	$323.02K	USD	Annual
Interest expense	`InterestExpenseOther`	$442.17K	USD	Annual
Gain (loss) on debt settlement	`GainsLossesOnExtinguishmentOfDebt`	$28.86K	USD	Annual
Gain (loss) on debt settlement	`GainsLossesOnExtinguishmentOfDebt`	$-593.91K	USD	Annual
Gain (loss) on debt write off	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	Annual
Gain (loss) on debt write off	`WriteOffOfDeferredDebtIssuanceCost`	$578.41K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$211.41K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Other income	`OtherNonoperatingIncome`	$4.00K	USD	Annual
Other income	`OtherNonoperatingIncome`	-	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$738.87K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-588.96K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	312.63M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.98B	shares	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$206.25K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$305.50K	USD	Annual
Stock based payments for consultants, directors and officers	`ShareBasedCompensation`	$346.74K	USD	Annual
Stock based payments for consultants, directors and officers	`ShareBasedCompensation`	$3.16M	USD	Annual
Gain (loss) on debt settlement write off	`GainsLossesOnExtinguishmentOfDebtAndWriteOff`	$593.91K	USD	Annual
Gain (loss) on debt settlement write off	`GainsLossesOnExtinguishmentOfDebtAndWriteOff`	$-607.27K	USD	Annual
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$1.84M	USD	Annual
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$385.37K	USD	Annual
Warrant conversion expense	`WarrantConversionExpense`	-	USD	Annual
Warrant conversion expense	`WarrantConversionExpense`	$211.41K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$61.40K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$211.41K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$130.83K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$445.85K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$336.00K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$20.00K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$145.94K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$96.01K	USD	Annual
Prepaid license fee	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Prepaid license fee	`IncreaseDecreaseInPrepaidExpense`	$-55.42K	USD	Annual
Discount on notes payable	`IncreaseDecreaseOnDiscountOnNotes`	-	USD	Annual
Discount on notes payable	`IncreaseDecreaseOnDiscountOnNotes`	$-213.08K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-106.76K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-792.64K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$-102.34K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$40.34K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$78.00K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$838.60K	USD	Annual
Proceeds from short term notes payable	`ProceedsFromShortTermDebt`	$225.00K	USD	Annual
Proceeds from short term notes payable	`ProceedsFromShortTermDebt`	-	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	$-73.70K	USD	Annual
Repayment of convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$887.55K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$118.34K	USD	Annual
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.58K	USD	Annual
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$94.92K	USD	Annual
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$125.17K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$18.67K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$125.17K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$39.76K	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 - $2,227,062 and $1,059,572, respectively	`ProceedsFromIssuanceOrSaleOfEquity`	$188.46K	USD	Annual
Issuance of common stock for conversion of notes payable and accrued interest (fair value of the shares issued - $2,227,062 and $1,059,572, respectively	`ProceedsFromIssuanceOrSaleOfEquity`	$333.22K	USD	Annual
Change in fair value of derivative liability related to debt conversions	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	Annual
Change in fair value of derivative liability related to debt conversions	`IncreaseDecreaseInDerivativeLiabilities`	$92.44K	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`	-	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-2.84M	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`	$2.81M	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$198.74K	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$354.00K	USD	Annual
Shares issued for conversion of notes payable, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	954.21M	shares	Annual
Shares issued for conversion of notes payable, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	524.54M	shares	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$1.06M	USD	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$391.04K	USD	Annual
Commitment shares issued pursuant to financings, amount	`StockIssuedDuringPeriodValueOther`	$133.03K	USD	Annual
Shares issued upon exercise of stock warrants, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$211.41K	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$18.55K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.54M	USD	Annual
Ending balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-2.84M	USD	Point-in-time

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