10-Q Filing

VISIUM TECHNOLOGIES, INC. CIK: 1082733 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001654954-23-014621`
Period End Date	20230930
Filing Date	20231120
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	vism_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 28 Cash Flow Statement 48 Stockholders Equity 20

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$3.51K	USD	Point-in-time
Convertible notes payable, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Notes payable, net of discount	`NotesPayableNetOfDiscount`	$15.95K	USD	Point-in-time
Notes payable, net of discount	`NotesPayableNetOfDiscount`	$26.80K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.53K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.98K	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`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	$58.34K	USD	Point-in-time
Prepaid license fee	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	37.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.85M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.98K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$88.87K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	45.52M	shares	Point-in-time
Total assets	`Assets`	$88.87K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.84M	shares	Point-in-time
Total assets	`Assets`	$9.98K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$845.50K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.03M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.53M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.37M	USD	Point-in-time
Due to officer	`ueFromOfficersStockholders`	$99.58K	USD	Point-in-time
Due to officer	`ueFromOfficersStockholders`	$117.63K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$548.04K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$437.09K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$404.71K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$536.80K	USD	Point-in-time
Convertible notes payable, net of discount of $3,512 and $0, as of September 30, 2023 and June 30, 2023, respectively	`ConvertibleNotesPayable`	$937.58K	USD	Point-in-time
Convertible notes payable, net of discount of $3,512 and $0, as of September 30, 2023 and June 30, 2023, respectively	`ConvertibleNotesPayable`	$845.80K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$80.71K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$141.10K	USD	Point-in-time
Notes payable, net of discount of $15,954 and $26,805, as of September 30, 2023 and June 30, 2023, respectively	`NotesPayableCurrent`	$380.01K	USD	Point-in-time
Notes payable, net of discount of $15,954 and $26,805, as of September 30, 2023 and June 30, 2023, respectively	`NotesPayableCurrent`	$500.32K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.26M	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 47,845,716 shares issued and 45,522,382 outstanding at September 30, 2023, and 37,199,647 shares issued and 29,844,713 outstanding at June 30, 2023, respectively (See Note 7)	`CommonStockValue`	$2.99K	USD	Point-in-time
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 47,845,716 shares issued and 45,522,382 outstanding at September 30, 2023, and 37,199,647 shares issued and 29,844,713 outstanding at June 30, 2023, respectively (See Note 7)	`CommonStockValue`	$4.55K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$55.60M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$56.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-60.94M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.62M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.60M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-4.25M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$9.98K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$88.87K	USD	Point-in-time

Income Statement 28 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`	$508.14K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$359.64K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$54.89K	USD	1 Quarter
Development expense	`ResearchAndDevelopmentExpense`	$28.36K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$414.53K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$536.50K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-536.50K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-414.53K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-60.40K	USD	1 Quarter
Gain (loss) on change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$11.37K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-54.73K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-504.93K	USD	1 Quarter
Interest expense	`InterestExpense`	$46.53K	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`	$-52.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-588.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Common stock deemed dividends	`DividendsCommonStock`	-	USD	1 Quarter
Common stock deemed dividends	`DividendsCommonStock`	$484.46K	USD	1 Quarter
Net income attributable to common stock holders - basic and diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-1.07M	USD	1 Quarter
Net income attributable to common stock holders - basic and diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-1.04M	USD	1 Quarter
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Loss per common share basic and diluted	`NetLossPerCommonShareBasicAndDiluted`	$-0.36	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding1`	36.32M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding1`	2.90M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.04M	USD	1 Quarter
Net loss	`ProfitLoss`	$-588.70K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$114.28K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$43.02K	USD	1 Quarter
(Gain) loss on change in derivative liabilities	`DerivativeGainLossOnDerivativesNet`	$-60.40K	USD	1 Quarter
(Gain) loss on change in derivative liabilities	`DerivativeGainLossOnDerivativesNet`	$11.37K	USD	1 Quarter
Loss on extinguishment of debt	`LossesOnExtinguishmentOfDebt`	$-54.73K	USD	1 Quarter
Loss on extinguishment of debt	`LossesOnExtinguishmentOfDebt`	$504.93K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$94.96K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$11.23K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$50.56K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$150.70K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$58.34K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$52.50K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-63.20K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-34.78K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$156.25K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$205.99K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-167.47K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-145.71K	USD	1 Quarter
Advances from (repayment to) officers	`ProceedsFromRelatedPartyDebt`	$18.06K	USD	1 Quarter
Advances from (repayment to) officers	`ProceedsFromRelatedPartyDebt`	$53.00K	USD	1 Quarter
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	$44.25K	USD	1 Quarter
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Proceeds from convertible notes	`ProceedsFromConvertibleDebt`	$83.00K	USD	1 Quarter
Proceeds from convertible notes	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from promissory notes	`ProceedsFromNotesPayable`	$135.00K	USD	1 Quarter
Proceeds from promissory notes	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Repayment of promissory notes payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Repayment of promissory notes payable	`RepaymentsOfNotesPayable`	$25.55K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$166.26K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$53.00K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-114.47K	USD	1 Quarter
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$20.55K	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.53K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.94K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.98K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.53K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$136.94K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.98K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$9.54K	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`	$111.91K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-4.62M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-4.25M	USD	Point-in-time
Shares issued as compensation to directors and officers, amount	`SharesIssuedAsCompensationToDirectorsAndOfficersAmount`	$62.87K	USD	1 Quarter
Shares issued as compensation to directors and officers, amount	`SharesIssuedAsCompensationToDirectorsAndOfficersAmount`	$27.21K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$15.77K	USD	1 Quarter
Shares issued for consulting services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$47.35K	USD	1 Quarter
Shares issued due to reverse split (rounding), amount	`SharesIssuedDueToReverseSplitRoundingAmount`	-	USD	1 Quarter
Warrants issued on extinguishment of debt	`WarrantsIssuedOnExtinguishmentOfDebt`	$186.97K	USD	1 Quarter
Net loss for the three months ended September 30, 2022	`NetIncomeLoss`	$-588.70K	USD	1 Quarter
Net loss for the three months ended September 30, 2022	`NetIncomeLoss`	$-1.04M	USD	1 Quarter
Shares issued to employees, amount	`SharesIssuedToEmployeesAmount`	$4.05K	USD	1 Quarter
Shares issued for conversion of notes payable, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$111.91K	USD	1 Quarter
Deemed dividend	`DividendsCommonStock`	-	USD	1 Quarter
Deemed dividend	`DividendsCommonStock`	$484.46K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-4.62M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-4.25M	USD	Point-in-time

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