10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001654954-22-015550`
Period End Date	20220930
Filing Date	20221118
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	vism_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 25 Cash Flow Statement 46 Stockholders Equity 20

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$412.94K	USD	Point-in-time
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	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	`CashAndCashEquivalentsAtCarryingValue`	$22.52K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$136.94K	USD	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.90M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.90M	shares	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	$52.50K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$75.02K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$136.94K	USD	Point-in-time
Total assets	`Assets`	$75.02K	USD	Point-in-time
Total assets	`Assets`	$136.94K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$596.46K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$647.08K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$614.59K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$820.57K	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	$53.00K	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$366.15K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$404.71K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$439.49K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$677.86K	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $412,944, as of September 30, 2022 and June 30, 2022, respectively	`ConvertibleNotesPayableCurrent`	$1.49M	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $412,944, as of September 30, 2022 and June 30, 2022, respectively	`ConvertibleNotesPayableCurrent`	$1.07M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$23.93K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$35.30K	USD	Point-in-time
Notes payable	`OtherNotesPayableCurrent`	$205.00K	USD	Point-in-time
Notes payable	`OtherNotesPayableCurrent`	$205.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.93M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 2,903,812 shares issued and 2,901,590 outstanding at September 30, 2022, and 2,903,804 shares issued and 2,896,385 outstanding at June 30, 2022, respectively (See Note 7)	`CommonStockValue`	$288.00	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 2,903,812 shares issued and 2,901,590 outstanding at September 30, 2022, and 2,903,804 shares issued and 2,896,385 outstanding at June 30, 2022, respectively (See Note 7)	`CommonStockValue`	$290.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$53.75M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$53.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.60M	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`	$-3.60M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.61M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$75.02K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$136.94K	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	-	USD	1 Quarter
Net revenues	`Revenues`	-	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$359.64K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.20M	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$54.89K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$110.41K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.31M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$414.53K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.31M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-414.53K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-18.91K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$11.37K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-504.93K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$486.46K	USD	1 Quarter
Interest expense	`InterestExpense`	$129.74K	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$-623.29K	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$-505.37K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.82M	USD	1 Quarter
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-0.80	USD	1 Quarter
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-0.36	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.90M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.51M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.26M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.82M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$43.02K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$671.75K	USD	1 Quarter
Amortization of deferred compensation	`AmortizationOfDeferredSalesCommissions`	-	USD	1 Quarter
Amortization of deferred compensation	`AmortizationOfDeferredSalesCommissions`	$40.52K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-504.93K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
(Gain) loss on change in derivative liabilities	`GainLossOnSaleOfDerivatives`	$-11.37K	USD	1 Quarter
(Gain) loss on change in derivative liabilities	`GainLossOnSaleOfDerivatives`	$18.91K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$94.96K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$410.92K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$50.56K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$101.39K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-66.67K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-52.50K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-34.78K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-68.59K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$205.99K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$60.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-167.47K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-510.40K	USD	1 Quarter
Loan proceeds from officers	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Loan proceeds from officers	`ProceedsFromRelatedPartyDebt`	$53.00M	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.50M	USD	1 Quarter
Repayment of convertible note payable	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Repayment of convertible note payable	`RepaymentsOfConvertibleDebt`	$115.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.39M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$53.00M	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$874.60K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-114.47K	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.94K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$999.77K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.17K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.94K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$999.77K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.17K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$9.20K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Issuance of common stock for conversion of notes payable and accrued interest	`IssuanceOfCommonStockForConversionOfNotesPayableAndAccruedInterest`	-	USD	1 Quarter
Issuance of common stock for conversion of notes payable and accrued interest	`IssuanceOfCommonStockForConversionOfNotesPayableAndAccruedInterest`	$831.05K	USD	1 Quarter

Stockholders Equity 20 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`	$-3.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.61M	USD	Point-in-time
Shares issued as compensation to directors and officers, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$345.00K	USD	1 Quarter
Shares issued as compensation to directors and officers, amount	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$27.21K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$15.77K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$326.75K	USD	1 Quarter
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$831.05K	USD	1 Quarter
Shares issued for sale of common stock, amount	`SharesIssuedForSaleOfCommonStockAmount`	$1.50M	USD	1 Quarter
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$40.52K	USD	1 Quarter
Shares issued for cashless warrant exercise, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Net loss for the three months ended September 30, 2021	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Net loss for the three months ended September 30, 2021	`NetIncomeLoss`	$-1.82M	USD	1 Quarter
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	$186.97K	USD	1 Quarter
Shares issued due to reverse split (rounding), amount	`StockIssued1`	-	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.61M	USD	Point-in-time

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