$VRVR
VIRTUAL INTERACTIVE TECHNOLOGIES CORP.

2023 Q2 Form 10-Q Financial Statement

#000149315223017060 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $35.14K $33.37K $29.64K
YoY Change 69.83% 12.59% -51.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.356K $1.126K $115.8K
YoY Change -99.17% -99.03% 155.44%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses -$1.439M $740.6K $115.8K
YoY Change -366.65% 539.62% 155.44%
Operating Profit $1.475M -$707.2K -$86.15K
YoY Change -384.04% 720.95%
Interest Expense -$36.57K -$39.41K -$118.3K
YoY Change 18.31% -66.67% 853.63%
% of Operating Profit -2.48%
Other Income/Expense, Net -$36.20K -$133.5K $440.00
YoY Change -75.58% -30440.68% 0.0%
Pretax Income $1.438M -$840.8K -$204.0K
YoY Change -315.53% 312.21% -4704.06%
Income Tax
% Of Pretax Income
Net Earnings $1.438M -$840.7K -$204.0K
YoY Change -315.53% 312.21% -4704.06%
Net Earnings / Revenue 4093.72% -2519.24% -688.12%
Basic Earnings Per Share $0.17 -$0.10 -$0.03
Diluted Earnings Per Share $0.16 -$0.10 -$29.29K
COMMON SHARES
Basic Shares Outstanding 8.313M shares 8.313M shares 6.963M shares
Diluted Shares Outstanding 9.195M shares 8.313M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.830K $2.570K $31.50K
YoY Change -97.48% -91.84% -4.57%
Cash & Equivalents $1.832K $2.571K $31.50K
Short-Term Investments
Other Short-Term Assets $0.00 $1.222M
YoY Change
Inventory
Prepaid Expenses $1.222M
Receivables
Other Receivables
Total Short-Term Assets $114.8K $1.381M $172.2K
YoY Change -42.48% 702.09% -13.49%
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 $7.500K
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $114.8K $1.381M $172.2K
Total Long-Term Assets $0.00 $0.00 $7.500K
Total Assets $114.8K $1.381M $179.7K
YoY Change -42.48% 668.62% -9.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $110.5K $20.50K $6.600K
YoY Change 4705.65% 210.61% -22.35%
Accrued Expenses $350.8K $317.4K $199.3K
YoY Change 53.8% 59.27% 16231.97%
Deferred Revenue
YoY Change
Short-Term Debt $741.0K $0.00 $741.0K
YoY Change -100.0%
Long-Term Debt Due $470.0K $1.211M $30.94K
YoY Change -47.24% 3814.12% 209.4%
Total Short-Term Liabilities $1.672M $1.601M $977.8K
YoY Change 49.15% 63.78% 4005.04%
LONG-TERM LIABILITIES
Long-Term Debt $10.00K $10.00K $0.00
YoY Change 0.0% -100.0%
Other Long-Term Liabilities $2.570K $2.420K $0.00
YoY Change 30.46% -100.0%
Total Long-Term Liabilities $12.57K $12.42K
YoY Change 5.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.672M $1.601M $977.8K
Total Long-Term Liabilities $12.57K $12.42K
Total Liabilities $1.685M $1.614M $977.8K
YoY Change 48.69% 65.05% 7.72%
SHAREHOLDERS EQUITY
Retained Earnings -$7.077M -$8.515M
YoY Change 12.4%
Common Stock $8.151K $8.271K
YoY Change 7.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.570M -$232.7K -$798.1K
YoY Change
Total Liabilities & Shareholders Equity $114.8K $1.381M $179.7K
YoY Change -42.48% 668.62% -9.72%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $1.438M -$840.7K -$204.0K
YoY Change -315.53% 312.21% -4704.06%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$740.00 -$6.290K -$118.6K
YoY Change -99.65% -94.7% 609.99%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
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 0.000 0.000 -17.63K
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -740.0 -6.290K -118.6K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 0.000 0.000 -17.63K
Net Change In Cash -740.0 -6.290K -136.3K
YoY Change -101.8% -95.38% 715.5%
FREE CASH FLOW
Cash From Operating Activities -$740.00 -$6.290K -$118.6K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q1 us-gaap Treasury Stock Value
TreasuryStockValue
usd
dei Entity Central Index Key
EntityCentralIndexKey
0001536089
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
usd
CY2023Q1 us-gaap Accounts Payable Current Related And Nonrelated Party Status Extensible Enumeration
AccountsPayableCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2022Q3 us-gaap Accounts Payable Current Related And Nonrelated Party Status Extensible Enumeration
AccountsPayableCurrentRelatedAndNonrelatedPartyStatusExtensibleEnumeration
http://fasb.org/us-gaap/2023#RelatedPartyMember
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2022Q3 us-gaap Treasury Stock Value
TreasuryStockValue
usd
CY2022Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
usd
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
VRVR Debt Discount On Notes Payable
DebtDiscountOnNotesPayable
usd
us-gaap Stock Issued1
StockIssued1
usd
VRVR Common Stock Issued For Prepaid Expenses
CommonStockIssuedForPrepaidExpenses
usd
VRVR Warrants Issued For Prepaid Expenses
WarrantsIssuedForPrepaidExpenses
usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Registrant Name
EntityRegistrantName
VIRTUAL INTERACTIVE TECHNOLOGIES CORP.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
36-4752858
dei Entity Address Address Line1
EntityAddressAddressLine1
600 17th Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 2800 South
dei Entity Address City Or Town
EntityAddressCityOrTown
Denver
dei Entity Address State Or Province
EntityAddressStateOrProvince
CO
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
80202
dei City Area Code
CityAreaCode
(303)
dei Local Phone Number
LocalPhoneNumber
228-7120
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
8312784 shares
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2571 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36378 usd
CY2023Q1 VRVR Royalty Receivable Current
RoyaltyReceivableCurrent
125991 usd
CY2022Q3 VRVR Royalty Receivable Current
RoyaltyReceivableCurrent
83644 usd
CY2023Q1 us-gaap Interest Receivable Current
InterestReceivableCurrent
5334 usd
CY2022Q3 us-gaap Interest Receivable Current
InterestReceivableCurrent
4586 usd
CY2023Q1 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
25000 usd
CY2022Q3 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
25000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1222229 usd
CY2022Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1956215 usd
CY2023Q1 us-gaap Assets Current
AssetsCurrent
1381125 usd
CY2022Q3 us-gaap Assets Current
AssetsCurrent
2105823 usd
CY2023Q1 us-gaap Assets
Assets
1381125 usd
CY2022Q3 us-gaap Assets
Assets
2105823 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
52568 usd
CY2022Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
34591 usd
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
20500 usd
CY2023Q1 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
741030 usd
CY2022Q3 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
741030 usd
CY2023Q1 VRVR Interest Payable Related Party Current
InterestPayableRelatedPartyCurrent
251577 usd
CY2022Q3 VRVR Interest Payable Related Party Current
InterestPayableRelatedPartyCurrent
223940 usd
CY2023Q1 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
470000 usd
CY2022Q3 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
262686 usd
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
65770 usd
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
34129 usd
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1601445 usd
CY2022Q3 us-gaap Liabilities Current
LiabilitiesCurrent
1296376 usd
CY2023Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
10000 usd
CY2022Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
10000 usd
CY2023Q1 VRVR Interest Payable Non Current
InterestPayableNonCurrent
2420 usd
CY2022Q3 VRVR Interest Payable Non Current
InterestPayableNonCurrent
2121 usd
CY2023Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
12420 usd
CY2022Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
12121 usd
CY2023Q1 us-gaap Liabilities
Liabilities
1613865 usd
CY2022Q3 us-gaap Liabilities
Liabilities
1308497 usd
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000 shares
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8312784 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8271534 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8100284 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8059034 shares
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
8271 usd
CY2022Q3 us-gaap Common Stock Value
CommonStockValue
8059 usd
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
8271118 usd
CY2022Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
7595246 usd
CY2023Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
41250 shares
CY2022Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
41250 shares
CY2023Q1 VRVR Treasury Stock Cumulative Cost
TreasuryStockCumulativeCost
0 usd
CY2022Q3 VRVR Treasury Stock Cumulative Cost
TreasuryStockCumulativeCost
0 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-8515335 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6809185 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-232740 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
797326 usd
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1381125 usd
CY2022Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2105823 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
33373 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29638 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75597 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60030 usd
CY2023Q1 us-gaap Professional Fees
ProfessionalFees
739494 usd
CY2022Q1 us-gaap Professional Fees
ProfessionalFees
72581 usd
us-gaap Professional Fees
ProfessionalFees
1452417 usd
us-gaap Professional Fees
ProfessionalFees
231693 usd
CY2022Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
40603 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
48042 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
75603 usd
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1126 usd
CY2022Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2604 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5164 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6301 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
740620 usd
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
115788 usd
us-gaap Operating Expenses
OperatingExpenses
1505623 usd
us-gaap Operating Expenses
OperatingExpenses
313597 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-707247 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-86150 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-1430026 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-253567 usd
CY2023Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
370 usd
CY2022Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
444 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
748 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
898 usd
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
94457 usd
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
96376 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
207314 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
192439 usd
CY2023Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
25792 usd
CY2022Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
8547 usd
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
41937 usd
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
16042 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
46 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-194 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
16 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-573 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-133499 usd
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-117809 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-276124 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-236444 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-840746 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-203959 usd
us-gaap Net Income Loss
NetIncomeLoss
-1706150 usd
us-gaap Net Income Loss
NetIncomeLoss
-490011 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8312784 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6963492 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8280504 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6940772 shares
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
608006 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-840746 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-232740 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-800425 usd
CY2022Q1 VRVR Stock Issued During Period Value Commitment Fee Debt Discount On Note Payable
StockIssuedDuringPeriodValueCommitmentFeeDebtDiscountOnNotePayable
206250 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-203959 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-798134 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
797326 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
14875 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
298000 usd
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
363209 usd
us-gaap Net Income Loss
NetIncomeLoss
-1706150 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-232740 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-607373 usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
93000 usd
VRVR Stock Issued During Period Value Commitment Fee Debt Discount On Note Payable
StockIssuedDuringPeriodValueCommitmentFeeDebtDiscountOnNotePayable
206250 usd
us-gaap Net Income Loss
NetIncomeLoss
-490011 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-798134 usd
us-gaap Net Income Loss
NetIncomeLoss
-1706150 usd
us-gaap Net Income Loss
NetIncomeLoss
-490011 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
14875 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
93000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
207314 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
192439 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1395195 usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
748 usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
898 usd
VRVR Increase Decrease In Royalty Receivables
IncreaseDecreaseInRoyaltyReceivables
42347 usd
VRVR Increase Decrease In Royalty Receivables
IncreaseDecreaseInRoyaltyReceivables
-4382 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
38477 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-30414 usd
VRVR Increase Decrease In Accrued Interest Related Parties
IncreaseDecreaseInAccruedInterestRelatedParties
27637 usd
VRVR Increase Decrease In Accrued Interest Related Parties
IncreaseDecreaseInAccruedInterestRelatedParties
28288 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
31940 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
1274 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33807 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-201940 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
217375 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
235000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17625 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-33807 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-219565 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
36378 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
251064 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2571 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31499 usd
us-gaap Interest Paid Net
InterestPaidNet
10000 usd
us-gaap Interest Paid Net
InterestPaidNet
14769 usd
VRVR Debt Discount On Notes Payable
DebtDiscountOnNotesPayable
17625 usd
us-gaap Stock Issued1
StockIssued1
206250 usd
VRVR Common Stock Issued For Prepaid Expenses
CommonStockIssuedForPrepaidExpenses
298000 usd
VRVR Warrants Issued For Prepaid Expenses
WarrantsIssuedForPrepaidExpenses
363209 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_z4XMp9KZzmQh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86F_zwB7BJMiBo4g">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
46 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-194 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
16 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-573 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zjj4EESZ5rXf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86B_zU6OcraPJvv1">Concentration of Credit Risk</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Some of our US dollar balances are held in a Bermuda bank that is not insured. As of March 31, 2023 and September 30, 2022, uninsured deposits in the Bermuda bank totaled $<span id="xdx_90A_eus-gaap--CashUninsuredAmount_iI_c20230331__dei--LegalEntityAxis__custom--BermudaBankMember_zmKLVqm3n2uc" title="Cash, uninsured deposits">250</span> and $<span id="xdx_90C_eus-gaap--CashUninsuredAmount_iI_c20220930__dei--LegalEntityAxis__custom--BermudaBankMember_zIGWAkCKY7a6" title="Cash, uninsured deposits">20,495</span>, respectively. Our management believes that the financial institution is financially sound, and the risk of loss is low. The Company is in the process of migrating all of its banking to the institutions in the United States, which are insured by the FDIC up to $<span id="xdx_90B_eus-gaap--CashFDICInsuredAmount_iI_c20230331__srt--RangeAxis__srt--MaximumMember_zbxOikdq66yj" title="Cash, FDIC insured amount">250,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
33373 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29638 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75597 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60030 usd
CY2023Q1 VRVR Royalty Receivable Current
RoyaltyReceivableCurrent
125991 usd
CY2022Q3 VRVR Royalty Receivable Current
RoyaltyReceivableCurrent
83644 usd
CY2022Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
41250 shares
CY2022Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8312784 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8271534 shares
CY2023Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
41250 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8100284 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8059034 shares
CY2022Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
41250 shares
CY2023Q1 us-gaap Costs And Expenses
CostsAndExpenses
233014 usd
CY2022Q4 us-gaap Costs And Expenses
CostsAndExpenses
471205 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
900000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.00
VRVR Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P1Y4M17D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
400000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.00
VRVR Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedOutstandingWeightedAverageRemainingContractualTerm
P1Y25D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1300000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P0Y11M8D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
94457 usd
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
96376 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
207314 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
192439 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 usd
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
207314 usd
CY2023Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
251577 usd
CY2022Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
223940 usd

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
0001493152-23-017060-index-headers.html Edgar Link pending
0001493152-23-017060-index.html Edgar Link pending
0001493152-23-017060.txt Edgar Link pending
0001493152-23-017060-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
form10-q_htm.xml Edgar Link completed
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vrvr-20230331.xsd Edgar Link pending
vrvr-20230331_lab.xml Edgar Link unprocessable
vrvr-20230331_pre.xml Edgar Link unprocessable
vrvr-20230331_cal.xml Edgar Link unprocessable
vrvr-20230331_def.xml Edgar Link unprocessable