Visium Technologies Reports Q3 2024 Results

TL;DR

Visium Tech Q3: $511K Rev, $548K Loss, $242M Assets. Convertible notes event noted.

AI Summary

Visium Technologies, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $242,394,599 and total liabilities of $50,484,260. For the three months ended September 30, 2024, the company had revenues of $511,457 and a net loss of $548,041. The filing also mentions a subsequent event related to convertible notes.

Why It Matters

This filing provides a snapshot of Visium Technologies' financial health and operational performance for the third quarter of 2024, including its revenue, losses, and asset/liability status.

Risk Assessment

Risk Level: medium — The company reported a net loss for the quarter, indicating potential financial strain.

Key Numbers

• $242.4B — Total Assets (As of September 30, 2024)
• $50.5B — Total Liabilities (As of September 30, 2024)
• $0.51M — Revenue (For the three months ended September 30, 2024)
• $0.55M — Net Loss (For the three months ended September 30, 2024)

Key Players & Entities

• VISIUM TECHNOLOGIES, INC. (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• $242,394,599 (dollar_amount) — Total Assets
• $50,484,260 (dollar_amount) — Total Liabilities
• $511,457 (dollar_amount) — Revenue for three months ended 09/30/2024
• $548,041 (dollar_amount) — Net Loss for three months ended 09/30/2024
• NuSTATE ENERGY HOLDINGS, INC. (company) — Former Company Name
• Fittipaldi Logistics, Inc. (company) — Former Company Name
• POWER2SHIP INC (company) — Former Company Name

FAQ

Key Financial Figures

• $0.0001 — nding of the registrant's Common Stock, $0.0001 par value per share, as of November 15,
• $0.001 — TED) Preferred Stock - Series A $0.001 Par Value Preferred Stock - Ser
• $20 million — ntract in November, 2023 valued at over $20 million from its partner, Cybastion Institute o

Filing Documents

• vism_10q.htm (10-Q) — 783KB
• vism_ex311.htm (EX-31.1) — 9KB
• vism_ex312.htm (EX-31.2) — 11KB
• vism_ex321.htm (EX-32.1) — 4KB
• vism_ex322.htm (EX-32.2) — 4KB
• vism_10qimg2.jpg (GRAPHIC) — 6KB
• 0001654954-24-014469.txt ( ) — 4431KB
• vism-20240930.xsd (EX-101.SCH) — 53KB
• vism-20240930_lab.xml (EX-101.LAB) — 286KB
• vism-20240930_cal.xml (EX-101.CAL) — 39KB
• vism-20240930_pre.xml (EX-101.PRE) — 241KB
• vism-20240930_def.xml (EX-101.DEF) — 116KB
• vism_10q_htm.xml (XML) — 656KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 4

Financial Statements

Item 1. Financial Statements 4 Consolidated Balance Sheets – September 30, 2024 (unaudited) and June 30, 2024 4 Consolidated Statements of Operations - Three Months ended September 30, 2024 and 2023 (unaudited) 5 Consolidated Statements of Changes in Stockholders' Deficit (unaudited) - Three Months ended September 30, 2024 and 2023 6 Consolidated Statements of Cash Flows - Three Months Ended September 30, 2024 and 2023 (unaudited) 8 Notes to Unaudited Consolidated Financial Statements – September 30, 2024 9

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 25

Controls and Procedures

Item 4. Controls and Procedures 25

- OTHER INFORMATION

PART II - OTHER INFORMATION 26

Legal Proceedings

Item 1. Legal Proceedings. 26

Risk Factors

Item 1A. Risk Factors. 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 26

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 26

Other Information

Item 5. Other Information. 26

Exhibits

Item 6. Exhibits 26

SIGNATURES

SIGNATURES 27 3 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements VISIUM TECHNOLOGIES, INC. CONSOLIDATED BALANCE SHEETS September 30, 2024 June 30, 2024(1) (Unaudited) ASSETS Current assets: Cash $ 8,102 $ 8,456 Total current assets 8,102 8,456 Total assets $ 8,102 $ 8,456 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued expenses $ 1,132,739 $ 1,094,516 Accrued compensation 2,140,529 1,986,279 Due to officer 239,159 182,633 Accrued interest 208,198 540,116 Convertible notes payable, net of discount of $ 4,523 and $ 7,022 , as of September 30, 2024 and June 30, 2024, respectively 288,523 534,361 Derivative liability 15,455 41,566 Notes payable, net of discount of $ 22,475 and $ 27,126 , as of September 30, 2024 and June 30, 2024, respectively 685,179 777,954 Total current liabilities 4,709,782 5,157,425 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 September 30, 2024 and June 30, 2024, respectively) 13,992 13,992 Series B Convertible Stock ($ 0.001 par value 30,000,000 shares authorized, 1,327,640 shares issued and outstanding as of September 30, 2024 and June 30, 2024, respectively) 1,328 1,328 Series C Convertible Stock ($ 0.001 par value 30,000 shares authorized, no shares issued and outstanding as of September 30, 2024 and June 30, 2024, respectively) - - Series AA Convertible Stock ($ 0.001 par value; 1 share authorized, 1 share issued and outstanding as of September 30, 2024 and June 30, 2024, respectively) 0 0 Common stock, $ 0.0001 par value, 3,000,000,000 shares authorized: 242,494,599 shares issued and outstanding at September 30, 2024, and 213,953,591 shares issued and outstanding at June 30, 2024, respectively (See Note 6) 24,251 21,397 Additional paid in capital 57,679,623 57,561,804 Accumu

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