10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001654954-23-001733`
Period End Date	20221231
Filing Date	20230214
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	vism_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 53 Cash Flow Statement 62 Stockholders Equity 37

Balance Sheet 49 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`	$136.99K	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`	$31.39K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	$35.00K	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`	5.49M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$66.39K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.99M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$136.99K	USD	Point-in-time
Total assets	`Assets`	$66.39K	USD	Point-in-time
Total assets	`Assets`	$136.99K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$643.40K	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`	$1.03M	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	$67.50K	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$437.09K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$404.71K	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $412,944	`ConvertibleNotesPayable`	$1.07M	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $412,944	`ConvertibleNotesPayable`	$1.56M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$35.30K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$127.30K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.06M	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 5,486,121 shares issued and 3,986,103 outstanding at December 31, 2022, and 2,903,804 shares issued and 2,896,385 outstanding at June 30, 2022, respectively (See Note 7)	`CommonStockValue`	$398.00	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 5,486,121 shares issued and 3,986,103 outstanding at December 31, 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
Additional paid in capital	`AdditionalPaidInCapital`	$54.30M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$53.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.32M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.60M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.00M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.98M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.61M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$136.99K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$66.39K	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	-	USD	2 Qtrs
Net revenues	`Revenues`	-	USD	1 Quarter
Net revenues	`Revenues`	-	USD	1 Quarter
Net revenues	`Revenues`	-	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$893.58K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$533.89K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.26M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.46M	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$101.95K	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$196.32K	USD	2 Qtrs
Development expense	`ResearchAndDevelopmentExpense`	$85.91K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$47.06K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$580.95K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$995.53K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.66M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.35M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.35M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-995.53K	USD	2 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-2.66M	USD	2 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-580.95K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-33.86K	USD	2 Qtrs
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-45.23K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$75.25K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$56.34K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$-58.14K	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$-58.14K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	2 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-504.93K	USD	2 Qtrs
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$15.21K	USD	1 Quarter
Interest expense	`InterestExpense`	$37.20K	USD	1 Quarter
Interest expense	`InterestExpense`	$166.94K	USD	2 Qtrs
Interest expense	`InterestExpense`	$501.68K	USD	2 Qtrs
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$-763.87K	USD	2 Qtrs
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$60.04K	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$-140.57K	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$-445.33K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.11M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-721.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.76M	USD	2 Qtrs
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-2.98	USD	1 Quarter
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-0.57	USD	2 Qtrs
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-10.46	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	432,481.00	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	297,026.00	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.42M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.27M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.09M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.11M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-721.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.76M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.55M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$291.54K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$94.96K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$410.92K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	$-58.14K	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	$-58.14K	USD	2 Qtrs
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	1 Quarter
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	2 Qtrs
(Gain) loss on change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-33.86K	USD	2 Qtrs
(Gain) loss on change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-45.23K	USD	1 Quarter
(Gain) loss on change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$75.25K	USD	1 Quarter
(Gain) loss on change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$56.34K	USD	2 Qtrs
Amortization of deferred compensation	`AmortizationOfDeferredSalesCommissions`	$81.05K	USD	2 Qtrs
Amortization of deferred compensation	`AmortizationOfDeferredSalesCommissions`	-	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-504.93K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$90.35K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$50.47K	USD	2 Qtrs
Prepaid license fee	`IncreaseDecreaseInPrepaidExpense`	$-35.00K	USD	2 Qtrs
Prepaid license fee	`IncreaseDecreaseInPrepaidExpense`	$35.00K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-64.37K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-71.98K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$410.43K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$10.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-278.10K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-923.61K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.50M	USD	2 Qtrs
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	2 Qtrs
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$115.00K	USD	2 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$105.00K	USD	2 Qtrs
Repayment of promissory notes payable	`RepaymentsOfNotesPayable`	$225.00K	USD	2 Qtrs
Repayment of promissory notes payable	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Advances from officers	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
Advances from officers	`ProceedsFromRelatedPartyDebt`	$67.50K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.16M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$172.50K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-105.60K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$236.39K	USD	2 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.17K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.39K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$361.56K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.99K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.17K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.39K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$361.56K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.99K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$22.01K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`IssuanceOfCommonStockForConversionOfNotesPayableAndAccruedInterest`	$77.05K	USD	2 Qtrs
Issuance of common stock for conversion of notes payable and accrued interest	`IssuanceOfCommonStockForConversionOfNotesPayableAndAccruedInterest`	$831.05K	USD	2 Qtrs
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	$186.97K	USD	2 Qtrs
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	-	USD	2 Qtrs

Stockholders Equity 37 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-3.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-4.00M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.98M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.61M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$729.33K	USD	2 Qtrs
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$18.87K	USD	2 Qtrs
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$3.10K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$402.58K	USD	1 Quarter
Shares issued as compensation, amount	`SharesIssuedAsCompensationAmount`	$473.00K	USD	1 Quarter
Shares issued as compensation, amount	`SharesIssuedAsCompensationAmount`	$818.00K	USD	2 Qtrs
Shares issued for conversion of notes payable and accrued interest, amount	`SharesIssuedForConversionOfNotesPayableAndAccruedInterestAmount`	$831.05K	USD	2 Qtrs
Shares issued pursuant to sale of common stock, amount	`SharesIssuedPursuantToSaleOfCommonStockAmount`	$1.50M	USD	2 Qtrs
Shares issued for exercise of warrants, amount	`SharesIssuedForExerciseOfWarrantsAmount`	-	USD	2 Qtrs
Shares issued for exercise of warrants, amount	`SharesIssuedForExerciseOfWarrantsAmount`	-	USD	1 Quarter
Shares issued for exercise of warrants, amount	`SharesIssuedForExerciseOfWarrantsAmount`	-	USD	2 Qtrs
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$81.05K	USD	2 Qtrs
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$40.52K	USD	1 Quarter
Net loss for the six months ended December 31, 2021	`NetIncomeLoss`	$-3.11M	USD	2 Qtrs
Net loss for the six months ended December 31, 2021	`NetIncomeLoss`	$-1.29M	USD	1 Quarter
Net loss for the six months ended December 31, 2021	`NetIncomeLoss`	$-721.52K	USD	1 Quarter
Net loss for the six months ended December 31, 2021	`NetIncomeLoss`	$-1.76M	USD	2 Qtrs
Shares issued as compensation to employees, amount	`SharesIssuedAsCompensationToEmployeesAmount`	$72.85K	USD	1 Quarter
Shares issued as compensation to employees, amount	`SharesIssuedAsCompensationToEmployeesAmount`	$72.85K	USD	2 Qtrs
Shares issued as compensation to directors and officers, amount	`SharesIssuedAsCompensationToDirectorsAndOfficersAmount`	$172.60K	USD	1 Quarter
Shares issued as compensation to directors and officers, amount	`SharesIssuedAsCompensationToDirectorsAndOfficersAmount`	$199.81K	USD	2 Qtrs
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	$186.97K	USD	2 Qtrs
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Shares issued for conversion of notes payable and accrued interest, amount	`StockissuedduringperiodsharescsharesIssuedForConversionOfNotesPayableAndAccruedInterestAmountonversionofconvertiblesecurities`	$77.05K	USD	2 Qtrs
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$77.05K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-3.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-4.00M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.98M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.61M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time

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