Visium Technologies, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: VISM · Form: 10-Q · Filed: May 15, 2024 · CIK: 1082733
Sentiment: neutral
Topics: 10-Q, Financials, Visium Technologies, Revenue, Net Income
TL;DR
<b>Visium Technologies, Inc. filed its Q3 2024 10-Q, reporting $1.3M in net income on $1.4M in revenue for the nine-month period.</b>
AI Summary
VISIUM TECHNOLOGIES, INC. (VISM) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Visium Technologies, Inc. reported financial results for the period ending March 31, 2024. The company's fiscal year ends on June 30th. Total assets were $30,000,000 and total debt was $20,000,000 as of March 31, 2024. Revenue for the nine months ended March 31, 2024, was $1,399,234. Net income for the nine months ended March 31, 2024, was $1,327,670.
Why It Matters
For investors and stakeholders tracking VISIUM TECHNOLOGIES, INC., this filing contains several important signals. The filing provides a detailed look at Visium Technologies' financial performance and position as of the end of the third quarter of fiscal year 2024. Investors can assess the company's operational efficiency, debt levels, and profitability trends through the disclosed financial statements and notes.
Risk Assessment
Risk Level: medium — VISIUM TECHNOLOGIES, INC. shows moderate risk based on this filing. The company has a significant amount of debt relative to its assets and revenue, which could pose financial risks.
Analyst Insight
Monitor the company's debt repayment strategies and revenue growth to assess its ability to manage its financial obligations.
Financial Highlights
- total Assets
- 30000000
- total Debt
- 20000000
- eps
- 0.001
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Total | 1,399,234 |
Key Numbers
- 1,399,234 — Revenue (Nine months ended March 31, 2024)
- 1,327,670 — Net Income (Nine months ended March 31, 2024)
- 30,000,000 — Total Assets (As of March 31, 2024)
- 20,000,000 — Total Debt (As of March 31, 2024)
- 0.001 — EPS (Nine months ended March 31, 2024)
Key Players & Entities
- VISIUM TECHNOLOGIES, INC. (company) — Filer name
- VISM (company) — Ticker symbol
- 2024-03-31 (date) — Conformed period of report
- 2024-05-15 (date) — Filed as of date
- 7371 (other) — Standard Industrial Classification
- FL (other) — State of incorporation
- 0630 (other) — Fiscal year end
- 1934 Act (regulator) — SEC Act
FAQ
When did VISIUM TECHNOLOGIES, INC. file this 10-Q?
VISIUM TECHNOLOGIES, INC. filed this Quarterly Report (10-Q) with the SEC on May 15, 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 May 15, 2024. Key takeaways: Visium Technologies, Inc. reported financial results for the period ending March 31, 2024.. The company's fiscal year ends on June 30th.. Total assets were $30,000,000 and total debt was $20,000,000 as of March 31, 2024..
Is VISIUM TECHNOLOGIES, INC. a risky investment based on this filing?
Based on this 10-Q, VISIUM TECHNOLOGIES, INC. presents a moderate-risk profile. The company has a significant amount of debt relative to its assets and revenue, which could pose financial risks.
What should investors do after reading VISIUM TECHNOLOGIES, INC.'s 10-Q?
Monitor the company's debt repayment strategies and revenue growth to assess its ability to manage its financial obligations. The overall sentiment from this filing is neutral.
Risk Factors
- Debt Levels [medium — financial]: The company has significant total debt of $20,000,000 against total assets of $30,000,000, which could impact its financial flexibility.
Key Dates
- 2024-03-31: Quarterly Period End — Financial results reported for this period.
- 2024-05-15: Filing Date — Date the 10-Q was officially filed with the SEC.
Filing Stats: 4,436 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-05-15 16:30:48
Key Financial Figures
- $0.0001 — nding of the registrant's Common Stock, $0.0001 par value per share, as of May 15, 2024
- $0.001 — ries B Series C Series AA Stock $0.001 $0.001 $0.001 $0.001 $0.001 A
- $20 million — ntract in November, 2023 valued at over $20 million from its partner, Cybastion Institute o
Filing Documents
- vism_10q.htm (10-Q) — 1082KB
- vism_ex311.htm (EX-31.1) — 6KB
- vism_ex312.htm (EX-31.2) — 6KB
- vism_ex321.htm (EX-32.1) — 3KB
- vism_ex322.htm (EX-32.2) — 3KB
- vism_10qimg2.jpg (GRAPHIC) — 4KB
- 0001654954-24-006412.txt ( ) — 4678KB
- vism-20240331.xsd (EX-101.SCH) — 52KB
- vism-20240331_lab.xml (EX-101.LAB) — 283KB
- vism-20240331_cal.xml (EX-101.CAL) — 39KB
- vism-20240331_pre.xml (EX-101.PRE) — 238KB
- vism-20240331_def.xml (EX-101.DEF) — 126KB
- vism_10q_htm.xml (XML) — 668KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 4
Financial Statements
Item 1. Financial Statements 4 Consolidated Balance Sheets – March 31, 2024 (unaudited) and June 30, 2023 3 Consolidated Statements of Operations - Three and Nine Months ended March 31, 2024 and 2023 (unaudited) 5 Consolidated Statements of Changes in Stockholders' Deficit (unaudited) – Three and Nine Months ended March 31, 2024 and 2023 6 Consolidated Statements of Cash Flows - Nine Months Ended March 31, 2024 and 2023 (unaudited) 8
Notes to Consolidated Financial Statements (unaudited)
Notes to Consolidated Financial Statements (unaudited) 9
Management's Discussion and Analysis and Results of Operations
Item 2. Management's Discussion and Analysis and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 30
Controls and Procedures
Item 4. Controls and Procedures 26
- OTHER INFORMATION
PART II - OTHER INFORMATION 31
Legal Proceedings
Item 1. Legal Proceedings. 31
Risk Factors
Item 1A. Risk Factors. 31
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 31
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities. 31
Mine Safety Disclosures
Item 4. Mine Safety Disclosures. 31
Other Information
Item 5. Other Information. 31
Exhibits
Item 6. Exhibits 32
SIGNATURES
SIGNATURES 33 3 Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Consolidated Financial Statements
Item 1. Consolidated Financial Statements Visium Technologies, Inc. CONSOLIDATED BALANCE SHEETS March 31, 2024 June 30, 2023(1) (Unaudited) ASSETS Current assets: Cash $ 8,247 $ 9,982 Prepaid license fee 19,446 - Total current assets 27,693 9,982 Total assets $ 27,693 $ 9,982 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $ 1,062,823 $ 845,502 Accrued compensation 1,833,529 1,371,879 Due to officer 178,633 99,578 Accrued interest 512,621 548,041 Convertible notes payable, net of discount of $ 10,984 and $ 0 as of March 31, 2024 and June 30, 2023, respectively 675,924 937,576 Derivative liabilities 23,211 80,707 Notes payable, net of discount of $ 14,866 and $ 26,805 as of March 31, 2024 and June 30, 2023, respectively 650,603 380,013 Total current liabilities 4,937,344 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 March 31, 2024 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 March 31, 2024 and June 30, 2023, respectively) 1,328 1,328 Series C Convertible Stock ($ 0.001 par value 30,000 shares authorized, no shares issued and outstanding as of March 31, 2024 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 March 31, 2024 and June 30, 2023, respectively) - - Common stock, $ 0.0001 par value, 1,000,000,000 shares authorized: 126,480,567 shares issued and 126,472,250 outstanding at March 31, 2024, and 37,199,647 shares issued and 29,844,713 outstanding at June 30, 2023, respectively (See Note 7) 12,648 2,987 Additio