10-K Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001654954-22-013289`
Period End Date	20220630
Filing Date	20221004
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	vism_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 30 Cash Flow Statement 61 Stockholders Equity 25

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$396.03K	USD	Point-in-time
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$412.94K	USD	Point-in-time
Notes payable, net of discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	-	USD	Point-in-time
Notes payable, net of discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$18.25K	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
Cash	`Cash`	$136.99K	USD	Point-in-time
Cash	`Cash`	$125.17K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	$55.42K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$180.58K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.90M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$136.99K	USD	Point-in-time
Total assets	`Assets`	$180.58K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.18M	shares	Point-in-time
Total assets	`Assets`	$136.99K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$425.80K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$596.46K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$614.59K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$672.53K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$677.86K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$404.71K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$366.15K	USD	Point-in-time
Convertible notes payable to ASC Recap LLC	`ConvertibleNotesPayableToAscRecapLlc`	-	USD	Point-in-time
Convertible notes payable to ASC Recap LLC	`ConvertibleNotesPayableToAscRecapLlc`	$147.97K	USD	Point-in-time
Convertible notes payable, net of discount of $207,187 and $396,033, respectively	`ConvertibleNotesPayableCurrent1`	$809.20K	USD	Point-in-time
Convertible notes payable, net of discount of $207,187 and $396,033, respectively	`ConvertibleNotesPayableCurrent1`	$1.07M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$184.38K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$35.30K	USD	Point-in-time
Notes payable, net of discount of $0 and $18,252, respectively	`NotesPayableCurrent`	$411.75K	USD	Point-in-time
Notes payable, net of discount of $0 and $18,252, respectively	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.02M	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 2,903,804 shares issued and 2,896,396 outstanding at June 30, 2022, and 22,802,021 shares issued and 2,182,423 outstanding at June 30, 2021, respectively (See Note 7)	`CommonStockValue`	$218.00	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 2,903,804 shares issued and 2,896,396 outstanding at June 30, 2022, and 22,802,021 shares issued and 2,182,423 outstanding at June 30, 2021, respectively (See Note 7)	`CommonStockValue`	$288.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$48.51M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$53.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.56M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$136.99K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$180.58K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.00K	USD	Annual
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.32M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.88M	USD	Annual
Development expense	`ResearchAndDevelopmentExpense`	$361.30K	USD	Annual
Development expense	`ResearchAndDevelopmentExpense`	$258.17K	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.14M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.68M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.11M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.68M	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`	$1.12K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	Annual
Interest expense	`InterestExpense`	$442.17K	USD	Annual
Interest expense	`InterestExpense`	$705.08K	USD	Annual
Gain (loss) on debt settlement	`GainLossRelatedToLitigationSettlement`	$187.93K	USD	Annual
Gain (loss) on debt settlement	`GainLossRelatedToLitigationSettlement`	$-28.86K	USD	Annual
Gain on debt write off	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	Annual
Gain on debt write off	`WriteOffOfDeferredDebtIssuanceCost`	$578.41K	USD	Annual
Warrant exercise expense	`WarrantExerciseExpense`	-	USD	Annual
Warrant exercise expense	`WarrantExerciseExpense`	$211.41K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-516.03K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-738.87K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.19M	USD	Annual
Basic and diluted	`BasicAndDiluted`	2.51M	shares	Annual
Basic and diluted	`BasicAndDiluted`	1.47M	shares	Annual
Net loss Per Common Share -Basic and Diluted:	`NetLossPerCommonShareBasicAndDiluted`	$-2.30	USD	Annual
Net loss Per Common Share -Basic and Diluted:	`NetLossPerCommonShareBasicAndDiluted`	$-2.07	USD	Annual

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.19M	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$571.08K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$305.50K	USD	Annual
Stock based payments for consultants, directors, and officers	`ShareBasedCompensation`	$3.16M	USD	Annual
Stock based payments for consultants, directors, and officers	`ShareBasedCompensation`	$2.18M	USD	Annual
(Gain) loss on debt settlement	`GainLossOnDebtSettlement`	$187.93K	USD	Annual
(Gain) loss on debt settlement	`GainLossOnDebtSettlement`	$607.27K	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`	$1.12K	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredSalesCommissions`	-	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredSalesCommissions`	$143.53K	USD	Annual
Amortization of prepaid expense	`AmortizationOfPrepaidExpense`	-	USD	Annual
Amortization of prepaid expense	`AmortizationOfPrepaidExpense`	$55.42K	USD	Annual
Warrant conversion expense	`WarrantConversionExpense`	$211.41K	USD	Annual
Warrant conversion expense	`WarrantConversionExpense`	-	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$1.06M	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$169.54K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$445.85K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-57.94K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$20.00K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$97.93K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$96.01K	USD	Annual
Prepaid license fee	`IncreaseDecreaseInPrepaidExpense`	$55.42K	USD	Annual
Discount on notes payable	`IncreaseDecreaseOnDiscountOnNotes`	$-213.08K	USD	Annual
Discount on notes payable	`IncreaseDecreaseOnDiscountOnNotes`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.22M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-792.64K	USD	Annual
Advance from officers	`AdvanceFromOfficers`	$102.34K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$1.08M	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
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.50M	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Repayment of short term notes payable	`RepaymentsOfShortTermDebt`	$225.00K	USD	Annual
Repayment of convertible notes payable	`RepaymentOfConvertibleNotesPayable`	$-115.00K	USD	Annual
Repayment of convertible notes payable	`RepaymentOfConvertibleNotesPayable`	$-73.70K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$887.55K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.24M	USD	Annual
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.82K	USD	Annual
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$94.92K	USD	Annual
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$136.99K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$125.17K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$136.99K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$125.17K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$30.25K	USD	Point-in-time
Interest	`InterestPaid`	$39.76K	USD	Annual
Interest	`InterestPaid`	$30.23K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of common stock for conversion of notes payable and accrued interest	`ProceedsFromIssuanceOrSaleOfEquity`	$188.46K	USD	Annual
Issuance of common stock for conversion of notes payable and accrued interest	`ProceedsFromIssuanceOrSaleOfEquity`	$831.05K	USD	Annual
Commitment shares issued pursuant to convertible notes payable	`CommitmentSharesIssuedPursuantToConvertibleNotesPayable`	-	USD	Annual
Commitment shares issued pursuant to convertible notes payable	`CommitmentSharesIssuedPursuantToConvertibleNotesPayable`	$236.57K	USD	Annual
Shares issued pursuant to settlement of litigation	`SharesIssuedPursuantToSettlementOfLitigation`	$108.00K	USD	Annual
Shares issued pursuant to settlement of litigation	`SharesIssuedPursuantToSettlementOfLitigation`	-	USD	Annual
Beneficial conversion feature with convertible debt	`BeneficialConversionFeatureWithConvertibleDebt`	-	USD	Annual
Beneficial conversion feature with convertible debt	`BeneficialConversionFeatureWithConvertibleDebt`	$239.56K	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time
Shares issued as compensation to directors and officers, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.81M	USD	Annual
Shares issued as compensation to directors and officers, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.17M	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$354.00K	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$241.80K	USD	Annual
Shares issued for conversion of notes payable, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	146,701.00	shares	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$391.04K	USD	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$831.05K	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
Shares issued upon exercise of stock warrants, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$143.53K	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$18.55K	USD	Annual
Net loss for the year ended June 30, 2022	`NetIncomeLoss`	$-3.37M	USD	Annual
Net loss for the year ended June 30, 2022	`NetIncomeLoss`	$-5.19M	USD	Annual
Shares issued as compensation to employees, amount	`SharesIssuedAsCompensationToEmployeesAmount`	$762.84K	USD	Annual
Shares issued pursuant to sale of common stock, amount	`SharesIssuedPursuantToSaleOfCommonStockAmount`	$1.50M	USD	Annual
Commitment shares issued pursuant to convertible notes payable, amount	`CommitmentSharesIssuedPursuantToConvertibleNotesPayableAmount`	$236.57K	USD	Annual
Benefical conversion feature with convertible debt	`BeneficalConversionFeatureWithConvertibleDebt`	$239.56K	USD	Annual
Shares issued pursuant to settlement of litigation, amount	`StockIssued1`	$108.00K	USD	Annual
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.38M	USD	Point-in-time

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