$VISM
VISIUM TECHNOLOGIES, INC.

2022 Q4 Form 10-Q Financial Statement

#000165495422015550 Filed on November 18, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $533.9K $359.6K $1.200M
YoY Change -57.78% -70.03% 521.14%
% of Gross Profit
Research & Development $47.06K $54.89K $110.4K
YoY Change -76.03% -50.28% 16.22%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $581.0K $414.5K $1.310M
YoY Change -56.98% -68.37% 354.7%
Operating Profit -$581.0K -$414.5K -$1.310M
YoY Change -56.98% -68.37%
Interest Expense $37.20K $129.7K -$505.4K
YoY Change -108.35% -125.67% -618.75%
% of Operating Profit
Other Income/Expense, Net -$140.6K -$623.3K -$505.4K
YoY Change -334.12% 23.33%
Pretax Income -$721.5K -$1.038M -$1.816M
YoY Change -76.77% -42.85% 425.3%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$721.5K -$1.038M -$1.816M
YoY Change -44.09% -42.85% 425.3%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.22 -$358.3K -$534.90
COMMON SHARES
Basic Shares Outstanding 3.170M shares 2.902M shares
Diluted Shares Outstanding 3.272M shares 2.897M shares 2.262M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.39K $22.52K $999.8K
YoY Change -91.32% -97.75% 51434.54%
Cash & Equivalents $31.39K $22.52K $999.8K
Short-Term Investments
Other Short-Term Assets $35.00K $52.50K $37.92K
YoY Change 71.4% 38.45%
Inventory
Prepaid Expenses $35.00K $52.50K
Receivables
Other Receivables
Total Short-Term Assets $66.39K $75.02K $1.038M
YoY Change -82.62% -92.77% 53389.18%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $66.39K $75.02K $1.038M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $66.39K $75.02K $1.038M
YoY Change -82.62% -92.77% 53389.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $643.4K $647.1K $443.0K
YoY Change 24.65% 46.06% 1.1%
Accrued Expenses $1.462M $1.260M $1.109M
YoY Change 39.06% 13.62% -22.88%
Deferred Revenue
YoY Change
Short-Term Debt $1.763M $1.692M $892.0K
YoY Change 163.05% 89.73% -21.44%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.064M $3.677M $2.647M
YoY Change 71.76% 38.87% -22.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.064M $3.677M $2.647M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $4.064M $3.677M $2.647M
YoY Change 71.76% 38.87% -22.65%
SHAREHOLDERS EQUITY
Retained Earnings -$58.32M -$57.60M
YoY Change 7.06%
Common Stock $398.00 $290.00
YoY Change -99.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.997M -$3.601M -$1.610M
YoY Change
Total Liabilities & Shareholders Equity $66.39K $75.02K $1.038M
YoY Change -82.62% -92.77% 53389.18%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$721.5K -$1.038M -$1.816M
YoY Change -44.09% -42.85% 425.3%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$110.7K -$167.5K -$510.4K
YoY Change -73.21% -67.19% 2136.63%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 119.5K $53.00M 1.385M
YoY Change -153.11% 3726.71% -25281.82%
NET CHANGE
Cash From Operating Activities -110.7K -$167.5K -510.4K
Cash From Investing Activities
Cash From Financing Activities 119.5K $53.00M 1.385M
Net Change In Cash 8.820K $52.83M 874.6K
YoY Change -101.38% 5940.77% -3188.28%
FREE CASH FLOW
Cash From Operating Activities -$110.7K -$167.5K -$510.4K
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reporting amounts of revenues and expenses during the reported period. Actual results will differ from those estimates. Included in these estimates are assumptions used in Cox, Ross &amp; Rubinstein Binomial Tree stock-based compensation valuation methods, such as expected volatility, risk-free interest rate, and expected dividend rate and in the valuation allowance of deferred tax assets and derivative liability.</p>
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CY2022Q3 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company is subject to a concentration of credit risk from cash.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s cash account is held at a financial institution and is insured by the Federal Deposit Insurance Corporation, or FDIC, up to $250,000. As of September 30, 2022 these limits were not exceeded.</p>
CY2022Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
23926 usd
CY2022Q3 vism Description Of Reverse Stock Split Effect
DescriptionOfReverseStockSplitEffect
This action also reduced the number of Authorized common shares of the Company from 10,000,000,000 to 1,000,000,000
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 vism Description Of Warrant2 Year Life
DescriptionOfWarrant2YearLife
In January and February 2022, we issued 2,268 warrants with a two year life, and fixed exercise prices ranging from $7.425 to $27.00 per share
CY2022Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2022Q3 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
0 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2896601 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2505011 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
529378 shares
CY2022 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
482472 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
11348 shares
CY2022 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
11348 shares
CY2022Q3 vism Incremental Common Shares Attributable To Common Stock Option
IncrementalCommonSharesAttributableToCommonStockOption
2222 shares
CY2022 vism Incremental Common Shares Attributable To Common Stock Option
IncrementalCommonSharesAttributableToCommonStockOption
2222 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
143716 shares
CY2022 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5049 shares
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3583265 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3006102 shares
CY2022Q3 vism Annually Prepaid License Fee
AnnuallyPrepaidLicenseFee
70000 usd
CY2022Q3 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
52500 usd
CY2022Q3 vism Recognition Of Gane Loss
RecognitionOfGaneLoss
11371 usd
CY2022 vism Recognition Of Gane Loss
RecognitionOfGaneLoss
-18908 usd
CY2022Q3 vism Warrants Fair Value
WarrantsFairValue
2034 usd
CY2021Q2 vism Warrants Fair Value
WarrantsFairValue
3947 usd
CY2022Q3 vism Convertible Notes Payables
ConvertibleNotesPayables
21892 usd
CY2021Q2 vism Convertible Notes Payables
ConvertibleNotesPayables
31350 usd
CY2022Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2022Q3 vism Derivative Liabilities Fair Value Assumptions Market Price
DerivativeLiabilitiesFairValueAssumptionsMarketPrice
0.65
CY2021Q3 vism Derivative Liabilities Fair Value Assumptions Market Price
DerivativeLiabilitiesFairValueAssumptionsMarketPrice
27.00
CY2022Q3 vism Derivative Liabilities Fair Value Assumptions Expected Dividend Rate
DerivativeLiabilitiesFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q3 vism Derivative Liabilities Fair Value Assumptions Expected Dividend Rate
DerivativeLiabilitiesFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
35297 usd
CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-11371 usd
CY2022Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
23926 usd
CY2022Q2 us-gaap Interest Payable Current
InterestPayableCurrent
404712 usd
CY2022Q3 vism Payments Of Accrued Interest
PaymentsOfAccruedInterest
34782 usd
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
439494 usd
CY2022Q3 vism Convertible Notes Payable1
ConvertibleNotesPayable1
1487431 usd
CY2022Q2 vism Convertible Notes Payable1
ConvertibleNotesPayable1
1487431 usd
CY2022Q2 vism Discount On Convertible Notes Payable
DiscountOnConvertibleNotesPayable
-412944 usd
CY2022Q3 vism Convertible Notes Payable To Related Parties Current
ConvertibleNotesPayableToRelatedPartiesCurrent
1487431 usd
CY2022Q2 vism Convertible Notes Payable To Related Parties Current
ConvertibleNotesPayableToRelatedPartiesCurrent
1074487 usd
CY2022Q3 vism Convertible Notes Payable2
ConvertibleNotesPayable2
1487431 usd
CY2022Q2 vism Convertible Notes Payable2
ConvertibleNotesPayable2
1074487 usd
CY2022Q3 vism Value Of Warrants Issued
ValueOfWarrantsIssued
186972 usd
CY2022Q3 vism Write Off Of Unamortized Debt Discount
WriteOffOfUnamortizedDebtDiscount
317953 usd
CY2022Q3 us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
ExtinguishmentOfDebtGainLossNetOfTax
504925 usd
CY2022Q3 vism Promissory Notes
PromissoryNotes
205000 usd
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2022Q3 vism Reverse Stock Split Outstanding Common Shares
ReverseStockSplitOutstandingCommonShares
3916144800 shares
CY2022Q3 vism Total Reverse Stock Split Outstanding Common Shares
TotalReverseStockSplitOutstandingCommonShares
2896396 shares
CY2022Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P3Y7M2D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
143716 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y9M14D
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.83
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
143716 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.83
CY2022Q3 vism Plan Terminates Period
PlanTerminatesPeriod
P10Y
CY2022Q3 us-gaap Share Price
SharePrice
27.00
CY2022Q3 vism Fair Value Of Shares
FairValueOfShares
0.00
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
0 usd
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
40524 usd
CY2022Q3 vism Unrecognized Pre Tax Non Cash Compensation Expense
UnrecognizedPreTaxNonCashCompensationExpense
0 usd
CY2022Q3 vism Weighted Average Period
WeightedAveragePeriod
P0Y9M29D
CY2022Q3 vism Options To Purchase Vested Shares
OptionsToPurchaseVestedShares
4250000 shares
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2021 vism Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.0000 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2222 shares
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
27.00
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2222 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
27.00
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2022Q3 vism Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm1
P3Y7M2D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2222 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
27.00
CY2022Q3 vism Weighted Averaged Exercise Price Vested
WeightedAveragedExercisePriceVested
27.00
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y7M2D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
7407 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
9.29
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
5185 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
11.07
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2222 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.13
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11400 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y3M
CY2022Q3 us-gaap Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
53000 usd
CY2022Q3 vism Description
Description
If the Note is paid off in full within 180 days following the issue date a prepayment percentage of 120% will apply for amounts owed

Files In Submission

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0001654954-22-015550-index.html Edgar Link pending
0001654954-22-015550.txt Edgar Link pending
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vism_10q_htm.xml Edgar Link completed