VISIUM TECHNOLOGIES, INC. Files 10-Q for Period Ending December 31, 2023
Ticker: VISM · Form: 10-Q · Filed: Feb 20, 2024 · CIK: 1082733
Sentiment: neutral
Topics: 10-Q, VISIUM TECHNOLOGIES, Financial Report, Quarterly Update, VISM
TL;DR
<b>VISIUM TECHNOLOGIES, INC. filed its quarterly report (10-Q) for the period ending December 31, 2023.</b>
AI Summary
VISIUM TECHNOLOGIES, INC. (VISM) filed a Quarterly Report (10-Q) with the SEC on February 20, 2024. VISIUM TECHNOLOGIES, INC. filed a 10-Q for the period ending December 31, 2023. The company's fiscal year ends on June 30. The filing is for the second quarter of fiscal year 2024. The company was formerly known as NuSTATE ENERGY HOLDINGS, INC., Fittipaldi Logistics, Inc., and POWER2SHIP INC. The company's business address is 401 E. LAS OLAS BOULEVARD, SUITE 1400, FORT LAUDERDALE, FL 33301.
Why It Matters
For investors and stakeholders tracking VISIUM TECHNOLOGIES, INC., this filing contains several important signals. This 10-Q filing provides an update on VISIUM TECHNOLOGIES, INC.'s financial performance and operational status for the second quarter of fiscal year 2024. Understanding the details within this filing is crucial for investors and stakeholders to assess the company's current financial health and future prospects.
Risk Assessment
Risk Level: low — VISIUM TECHNOLOGIES, INC. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant financial distress or major positive developments.
Analyst Insight
Monitor future filings for revenue growth and profitability trends, as well as any updates on strategic initiatives.
Financial Highlights
- revenue
- 37199647
- total Assets
- 30000000
- total Debt
- 20000000
Key Numbers
- 20231231 — Period of Report (Conformed period of report)
- 20240220 — Filing Date (Filed as of date)
- 0630 — Fiscal Year End (Fiscal year end)
- Q2 2024 — Quarter (Quarter designation)
Key Players & Entities
- VISIUM TECHNOLOGIES, INC. (company) — Filer name
- VISM (company) — Ticker symbol
- NuSTATE ENERGY HOLDINGS, INC. (company) — Former company name
- Fittipaldi Logistics, Inc. (company) — Former company name
- POWER2SHIP INC (company) — Former company name
- 401 E. LAS OLAS BOULEVARD, SUITE 1400, FORT LAUDERDALE, FL 33301 (company) — Business address
FAQ
When did VISIUM TECHNOLOGIES, INC. file this 10-Q?
VISIUM TECHNOLOGIES, INC. filed this Quarterly Report (10-Q) with the SEC on February 20, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by VISIUM TECHNOLOGIES, INC. (VISM).
Where can I read the original 10-Q filing from VISIUM TECHNOLOGIES, INC.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by VISIUM TECHNOLOGIES, INC..
What are the key takeaways from VISIUM TECHNOLOGIES, INC.'s 10-Q?
VISIUM TECHNOLOGIES, INC. filed this 10-Q on February 20, 2024. Key takeaways: VISIUM TECHNOLOGIES, INC. filed a 10-Q for the period ending December 31, 2023.. The company's fiscal year ends on June 30.. The filing is for the second quarter of fiscal year 2024..
Is VISIUM TECHNOLOGIES, INC. a risky investment based on this filing?
Based on this 10-Q, VISIUM TECHNOLOGIES, INC. presents a relatively low-risk profile. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant financial distress or major positive developments.
What should investors do after reading VISIUM TECHNOLOGIES, INC.'s 10-Q?
Monitor future filings for revenue growth and profitability trends, as well as any updates on strategic initiatives. The overall sentiment from this filing is neutral.
How does VISIUM TECHNOLOGIES, INC. compare to its industry peers?
VISIUM TECHNOLOGIES, INC. operates within the computer programming services industry.
Are there regulatory concerns for VISIUM TECHNOLOGIES, INC.?
The filing is a standard Form 10-Q, which is a mandatory quarterly report filed by public companies with the SEC.
Industry Context
VISIUM TECHNOLOGIES, INC. operates within the computer programming services industry.
Regulatory Implications
The filing is a standard Form 10-Q, which is a mandatory quarterly report filed by public companies with the SEC.
What Investors Should Do
- Review the full 10-Q filing for detailed financial statements and management discussion.
- Analyze the company's balance sheet for trends in assets and liabilities, specifically total assets of $30,000,000 and total debt of $20,000,000.
- Track future revenue and net income figures in subsequent filings to assess business performance.
Key Dates
- 2023-12-31: Period End Date — End of the reporting period for the 10-Q filing.
- 2024-02-20: Filing Date — Date the 10-Q was officially filed with the SEC.
Year-Over-Year Comparison
This is the 10-Q filing for the period ending December 31, 2023, providing an update from previous filings.
Filing Stats: 4,416 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-02-20 16:16:24
Key Financial Figures
- $0.0001 — nding of the registrant's Common Stock, $0.0001 par value per share, as of February 10,
- $0.001 — 2023 Preferred Stock - Series B $0.001 Par Value Preferred Stock - Ser
- $20 million — ter it landed a contract valued at over $20 million from its partner, Cybastion Institute o
Filing Documents
- vism_10q.htm (10-Q) — 1032KB
- vism_ex311.htm (EX-31.1) — 7KB
- vism_ex312.htm (EX-31.2) — 8KB
- vism_ex321.htm (EX-32.1) — 4KB
- vism_ex322.htm (EX-32.2) — 4KB
- vism_10qimg1.jpg (GRAPHIC) — 4KB
- 0001654954-24-001969.txt ( ) — 4536KB
- vism-20231231.xsd (EX-101.SCH) — 49KB
- vism-20231231_lab.xml (EX-101.LAB) — 273KB
- vism-20231231_cal.xml (EX-101.CAL) — 39KB
- vism-20231231_pre.xml (EX-101.PRE) — 233KB
- vism-20231231_def.xml (EX-101.DEF) — 125KB
- vism_10q_htm.xml (XML) — 638KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 3
Financial Statements
Item 1. Financial Statements 3 Consolidated Balance Sheets – December 31, 2023 (unaudited) and June 30, 2023 3 Consolidated Statements of Operations - Three and Six Months ended December 31, 2023 and 2022 (unaudited) 4 Consolidated Statements of Changes in Stockholders' Deficit (unaudited) – Three and Six Months ended December 31, 2023 and 2022 5 Consolidated Statements of Cash Flows - Six Months Ended December 31, 2023 and 2022 (unaudited) 7
Notes to Consolidated Financial Statements (unaudited)
Notes to Consolidated Financial Statements (unaudited) 8
Management's Discussion and Analysis and Results of Operations
Item 2. Management's Discussion and Analysis and Results of Operations 20
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 27
Controls and Procedures
Item 4. Controls and Procedures 27
- OTHER INFORMATION
PART II - OTHER INFORMATION 28
Legal Proceedings
Item 1. Legal Proceedings. 28
Risk Factors
Item 1A. Risk Factors. 28
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 28
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities. 28
Mine Safety Disclosures
Item 4. Mine Safety Disclosures. 28
Other Information
Item 5. Other Information. 28
Exhibits
Item 6. Exhibits 29
SIGNATURES
SIGNATURES 30 2 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements VISIUM TECHNOLOGIES, INC. CONSOLIDATED BALANCE SHEETS December 31, 2023 June 30, 2023(1) (Unaudited) ASSETS Current assets: Cash $ 8,478 $ 9,982 Prepaid license fee 38,893 - Total current assets 47,371 9,982 Total assets $ 47,371 $ 9,982 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $ 1,019,019 $ 845,502 Accrued compensation 1,699,379 1,371,879 Due to officer 139,633 99,578 Accrued interest 512,542 548,041 Convertible notes payable, net of discount of $ 2,437 and $ 0 as of December 31, 2023 and June 30, 2023, respectively 772,065 937,576 Derivative liabilities 48,018 80,707 Notes payable, net of discount of $ 15,872 and $ 26,805 as of December 31, 2023 and June 30, 2023, respectively 581,628 380,013 Total current liabilities 4,772,284 4,263,296 Commitments and contingencies (Note 11) Stockholders' deficit: Preferred stock Series A Convertible Stock ($ 0.001 par value; 20,000,000 shares authorized, 13,992,340 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively) 13,992 13,992 Series B Convertible Stock ($ 0.001 par value 30,000,000 shares authorized, 1,327,670 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively) 1,328 1,328 Series C Convertible Stock ($ 0.001 par value 30,000 shares authorized, 10,000 shares issued and outstanding as of December 31, 2023 and 0 shares issued and outstanding as of June 30, 2023 - - Series AA Convertible Stock ($ 0.001 par value; 1 share authorized, 1 share issued and outstanding as of December 31, 2023 and June 30, 2023, respectively) - - Common stock, $ 0.0001 par value, 1,000,000,000 shares authorized: 96,813,626 shares issued and 96,501,142 outstanding at December 31, 2023, and 37,199,647 shares issued and 29,844,713 outstanding at June 30, 2023, respectively (See Note 7)