10-K Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001654954-23-012664`
Period End Date	20230630
Filing Date	20231006
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	vism_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 32 Cash Flow Statement 60 Stockholders Equity 30

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
Notes payable, net of discount	`NotesPayableNetOfDiscount`	-	USD	Point-in-time
Notes payable, net of discount	`NotesPayableNetOfDiscount`	$26.80K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$136.99K	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`	$9.98K	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
Total current assets	`AssetsCurrent`	$136.99K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.98K	USD	Point-in-time
Total assets	`Assets`	$136.99K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.90M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.20M	shares	Point-in-time
Total assets	`Assets`	$9.98K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.84M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$845.50K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$596.46K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.37M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$614.59K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$404.71K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$434.08K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$548.04K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$437.09K	USD	Point-in-time
Due to officer	`DueFromOfficersStockholders`	-	USD	Point-in-time
Due to officer	`DueFromOfficersStockholders`	$99.58K	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $412,944, respectively	`ConvertibleNotesPayable`	$1.07M	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $412,944, respectively	`ConvertibleNotesPayable`	$937.58K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$35.30K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$80.71K	USD	Point-in-time
Notes payable, net of discount of $26,805 and $0, respectively	`NotesPayableCurrent`	$380.01K	USD	Point-in-time
Notes payable, net of discount of $26,805 and $0, respectively	`NotesPayableCurrent`	$205.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.93M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 37,199,647 shares issued and 29,844,713 outstanding at June 30, 2023, and 2,903,804 shares issued and 2,896,385 outstanding at June 30, 2022, respectively (See Note 7)	`CommonStockValue`	$2.99K	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 37,199,647 shares issued and 29,844,713 outstanding at June 30, 2023, 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`	$53.75M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$55.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.87M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.25M	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`	$9.98K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$136.99K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	-	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.32M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.20M	USD	Annual
Development expense	`ResearchAndDevelopmentExpense`	$214.97K	USD	Annual
Development expense	`ResearchAndDevelopmentExpense`	$361.30K	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.41M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.68M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-4.68M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.41M	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$1.12K	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$17.36K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$62.77K	USD	Annual
Interest expense	`InterestExpense`	$705.08K	USD	Annual
Interest expense	`InterestExpense`	$334.85K	USD	Annual
Gain (loss) on debt settlement	`GainLossOnDebtSettlement`	$187.93K	USD	Annual
Gain (loss) on debt settlement	`GainLossOnDebtSettlement`	-	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-516.99K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-516.03K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-897.24K	USD	Annual
Net loss	`ProfitLoss`	$-5.19M	USD	Annual
Net loss	`ProfitLoss`	$-3.31M	USD	Annual
Common stock deemed dividends	`DividendsCommonStock`	$145.70K	USD	Annual
Common stock deemed dividends	`DividendsCommonStock`	-	USD	Annual
Net income attributable to common stock holders - basic and diluted	`NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted`	$-5.19M	USD	Annual
Net income attributable to common stock holders - basic and diluted	`NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted`	$-3.46M	USD	Annual
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	6.31M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	2.51M	shares	Annual
Net loss Per Common Share -Basic and Diluted:	`EarningsPerSharesBasicAndDiluted`	$-0.55	USD	Annual
Net loss Per Common Share -Basic and Diluted:	`EarningsPerSharesBasicAndDiluted`	$-2.07	USD	Annual

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-5.19M	USD	Annual
Net loss	`ProfitLoss`	$-3.31M	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$571.08K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$102.74K	USD	Annual
Stock based payments for consultants, directors, and officers	`ShareBasedCompensation`	$2.18M	USD	Annual
Stock based payments for consultants, directors, and officers	`ShareBasedCompensation`	$856.48K	USD	Annual
(Gain) loss on debt settlement	`GainLossOnDebtSettlementInvestment`	$516.99K	USD	Annual
(Gain) loss on debt settlement	`GainLossOnDebtSettlementInvestment`	$-187.93K	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$1.12K	USD	Annual
Gain on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$17.36K	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	-	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$143.53K	USD	Annual
Amortization of prepaid expense	`AdjustmentForAmortization`	-	USD	Annual
Amortization of prepaid expense	`AdjustmentForAmortization`	$55.42K	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	-	USD	Annual
Derivative liability expense	`DerivativeLiabilityExpense`	$62.77K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$169.54K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$233.06K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-57.94K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$757.29K	USD	Annual
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$97.93K	USD	Annual
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$275.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.22M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-523.89K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	$99.58K	USD	Annual
Advance from officers	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$140.00K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$1.08M	USD	Annual
Proceeds from short term notes payable	`ProceedsFromUnsecuredNotesPayable`	-	USD	Annual
Proceeds from short term notes payable	`ProceedsFromUnsecuredNotesPayable`	$190.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$40.25K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.50M	USD	Annual
Repayment of short term notes payable	`RepaymentsOfNotesPayable`	$225.00K	USD	Annual
Repayment of short term notes payable	`RepaymentsOfNotesPayable`	$9.25K	USD	Annual
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$63.70K	USD	Annual
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$115.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$396.88K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.24M	USD	Annual
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-127.01K	USD	Annual
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$11.82K	USD	Annual
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.98K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.99K	USD	Point-in-time
Cash at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.17K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.98K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.99K	USD	Point-in-time
Cash at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.17K	USD	Point-in-time
Interest	`InterestPaid`	$30.23K	USD	Annual
Interest	`InterestPaid`	$65.77K	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Issuance of common stock for conversion of notes payable and accrued interest	`IssuanceOfCommonStockForConversionOfNotesPayableAndAccruedInterest`	$831.05K	USD	Annual
Issuance of common stock for conversion of notes payable and accrued interest	`IssuanceOfCommonStockForConversionOfNotesPayableAndAccruedInterest`	$753.39K	USD	Annual
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	$186.97K	USD	Annual
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	-	USD	Annual
Commitment shares issued pursuant to convertible notes payable	`SharesIssuedOfConvertibleNotesPayable`	$14.00K	USD	Annual
Commitment shares issued pursuant to convertible notes payable	`SharesIssuedOfConvertibleNotesPayable`	$236.57K	USD	Annual
Shares issued pursuant to settlement of litigation	`StockIssued1`	-	USD	Annual
Shares issued pursuant to settlement of litigation	`StockIssued1`	$108.00K	USD	Annual
Beneficial conversion feature with convertible debt	`DebtInstrumentConvertibleBeneficialConversionFeature`	$239.56K	USD	Annual
Beneficial conversion feature with convertible debt	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	Annual

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-4.25M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.84M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Shares issued as compensation to directors and officers, amount	`SharesIssuedAsCompensationToDirectorsAndOfficersAmount`	$564.12K	USD	Annual
Shares issued as compensation to directors and officers, amount	`SharesIssuedAsCompensationToDirectorsAndOfficersAmount`	$1.17M	USD	Annual
Shares issued as compensation to employees, amount	`SharesIssuedAsCompensationToEmployeesAmount`	$218.16K	USD	Annual
Shares issued as compensation to employees, amount	`SharesIssuedAsCompensationToEmployeesAmount`	$762.84K	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$241.80K	USD	Annual
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$74.20K	USD	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$831.05K	USD	Annual
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$753.39K	USD	Annual
Shares issued pursuant to sale of common stock, amount	`SharesIssuedPursuantToSaleOfCommonStockAmount`	$40.25K	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`	$14.00K	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 upon exercise of stock warrants, shares	`SharesIssuedUponExerciseOfStockWarrantsShares`	68,755.00	shares	Annual
Shares issued upon exercise of stock warrants, amount	`SharesIssuedUponExerciseOfStockWarrantsAmount`	-	USD	Annual
Shares issued upon exercise of stock warrants, amount	`SharesIssuedUponExerciseOfStockWarrantsAmount`	-	USD	Annual
Shares issued pursuant to settlement of litigation, amount	`StockIssued1`	-	USD	Annual
Shares issued pursuant to settlement of litigation, amount	`StockIssued1`	$108.00K	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	-	USD	Annual
Amortization of deferred compensation	`AmortizationOfDeferredCompensation`	$143.53K	USD	Annual
Net loss for the year ended June 30, 2022	`NetIncomeLoss`	$-5.19M	USD	Annual
Net loss for the year ended June 30, 2022	`NetIncomeLoss`	$-3.31M	USD	Annual
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	$186.97K	USD	Annual
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	-	USD	Annual
Balance, amount	`StockholdersEquity`	$-4.25M	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.