$VRVR
VIRTUAL INTERACTIVE TECHNOLOGIES CORP. Stock $vrvr

$vrvr Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000149315223029537 Filed on August 21, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2022 Q2
Revenue	$41.88K	$35.14K	$20.69K
YoY Change	-16.09%	69.83%	-42.16%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$140.4K	$4.356K	$523.3K
YoY Change	-65.91%	-99.17%	982.23%
% of Gross Profit
Research & Development	$0.00		$16.54K
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$140.4K	-$1.439M	$539.8K
YoY Change	-65.91%	-366.65%	1016.44%
Operating Profit		$1.475M	-$519.1K
YoY Change		-384.04%	4025.01%
Interest Expense	-$51.74K	-$36.57K	-$30.91K
YoY Change	69.86%	18.31%	148.07%
% of Operating Profit		-2.48%
Other Income/Expense, Net	-$30.71K	-$36.20K	-$148.2K
YoY Change	-74.51%	-75.58%	1134.54%
Pretax Income	-$180.9K	$1.438M	-$667.4K
YoY Change	-64.72%	-315.53%	2613.91%
Income Tax
% Of Pretax Income
Net Earnings	-$180.9K	$1.438M	-$667.4K
YoY Change	-64.72%	-315.53%	2613.8%
Net Earnings / Revenue	-431.97%	4093.72%	-3225.63%
Basic Earnings Per Share		$0.17	-$0.09
Diluted Earnings Per Share	-$0.02	$0.16	-$90.56K
COMMON SHARES
Basic Shares Outstanding	8.152M shares	8.313M shares	7.369M shares
Diluted Shares Outstanding		9.195M shares	7.369M shares

Balance Sheet

Concept	2023 Q3	2023 Q2	2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$40.83K	$1.830K	$72.68K
YoY Change	12.23%	-97.48%	78.05%
Cash & Equivalents	$40.83K	$1.832K	$72.68K
Short-Term Investments
Other Short-Term Assets	$0.00	$0.00
YoY Change	-100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$128.4K	$114.8K	$199.5K
YoY Change	-93.9%	-42.48%	10.59%
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
YoY Change
TOTAL ASSETS
Total Short-Term Assets	$128.4K	$114.8K	$199.5K
Total Long-Term Assets	$0.00	$0.00
Total Assets	$128.4K	$114.8K	$199.5K
YoY Change	-93.9%	-42.48%	10.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$67.39K	$110.5K	$2.300K
YoY Change	94.83%	4705.65%	-42.5%
Accrued Expenses	$379.1K	$350.8K	$228.1K
YoY Change	46.91%	53.8%	16550.36%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$741.0K	$0.00
YoY Change
Long-Term Debt Due	$1.211M	$470.0K	$890.9K
YoY Change	20.65%	-47.24%	8808.6%
Total Short-Term Liabilities	$1.658M	$1.672M	$1.121M
YoY Change	27.86%	49.15%	6318.23%
LONG-TERM LIABILITIES
Long-Term Debt	$10.00K	$10.00K	$10.00K
YoY Change	0.0%	0.0%	-98.65%
Other Long-Term Liabilities	$2.720K	$2.570K	$1.970K
YoY Change	28.3%	30.46%	-98.73%
Total Long-Term Liabilities	$12.72K	$12.57K	$11.97K
YoY Change	4.95%	5.01%	-98.66%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.658M	$1.672M	$1.121M
Total Long-Term Liabilities	$12.72K	$12.57K	$11.97K
Total Liabilities	$1.670M	$1.685M	$1.133M
YoY Change	27.65%	48.69%	24.03%
SHAREHOLDERS EQUITY
Retained Earnings	-$9.604M	-$7.077M	-$6.296M
YoY Change	41.05%	12.4%
Common Stock	$8.251K	$8.151K	$7.599K
YoY Change	2.38%	7.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$45.00K
YoY Change
Treasury Stock Shares
Shareholders Equity	-$1.542M	-$1.570M	-$933.7K
YoY Change
Total Liabilities & Shareholders Equity	$128.4K	$114.8K	$199.5K
YoY Change	-93.9%	-42.48%	10.59%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2022 Q2
OPERATING ACTIVITIES
Net Income	-$180.9K	$1.438M	-$667.4K
YoY Change	-64.72%	-315.53%	2613.8%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$161.0K	-$740.00	-$213.7K
YoY Change	229.85%	-99.65%	-2832.61%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities		$0.00	$0.00
YoY Change
Cash From Investing Activities		$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	200.0K	0.000	254.9K
YoY Change	1500.0%	-100.0%
NET CHANGE
Cash From Operating Activities	-161.0K	-740.0	-213.7K
Cash From Investing Activities		0.000	0.000
Cash From Financing Activities	200.0K	0.000	254.9K
Net Change In Cash	39.00K	-740.0	41.19K
YoY Change	-207.41%	-101.8%	426.73%
FREE CASH FLOW
Cash From Operating Activities	-$161.0K	-$740.00	-$213.7K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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	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
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CY2023Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	35136	usd
CY2022Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	20689	usd
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	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	94375	usd
	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	381000	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	207314	usd
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	310203	usd
	VRVR	Net Reversal Of Amortization Of Prepaid Stockbased Compensation NetReversalOfAmortizationOfPrepaidStockbasedCompensation	-275094	usd
	VRVR	Options Issued For Services OptionsIssuedForServices	37170	usd
	us-gaap	Increase Decrease In Accrued Interest Receivable Net IncreaseDecreaseInAccruedInterestReceivableNet	1122	usd
	us-gaap	Increase Decrease In Accrued Interest Receivable Net IncreaseDecreaseInAccruedInterestReceivableNet	1347	usd
	VRVR	Increase Decrease In Royalty Receivables IncreaseDecreaseInRoyaltyReceivables	-1430	usd
	VRVR	Increase Decrease In Royalty Receivables IncreaseDecreaseInRoyaltyReceivables	-26202	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	75938	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-34714	usd
	VRVR	Increase Decrease In Accrued Interest Related Parties IncreaseDecreaseInAccruedInterestRelatedParties	42372	usd
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	93222	usd
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	18016	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-34546	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-415630	usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	434750	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	37500	usd
	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	235000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	237250	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-34546	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-178380	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
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	1832	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	72684	usd
	us-gaap	Interest Paid Net InterestPaidNet	14769	usd
	VRVR	Debt Discount On Notes Payable DebtDiscountOnNotesPayable	35250	usd
	us-gaap	Stock Issued1 StockIssued1	412500	usd
	VRVR	Common Stock Issued For Prepaid Expenses CommonStockIssuedForPrepaidExpenses	298000	usd
	VRVR	Redemption Of Common Stock And Warrants Issued For Prepaid Services RedemptionOfCommonStockAndWarrantsIssuedForPrepaidServices	2892518	usd
	VRVR	Warrants Issued For Prepaid Expenses WarrantsIssuedForPrepaidExpenses	363209	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_84D_eus-gaap--UseOfEstimates_znTq5jPCroV7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span style="text-decoration: underline"><span id="xdx_86A_zewEeO87Fzf">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">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 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2022Q3	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	usd
CY2023Q2	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	usd
CY2023Q3	VRVR	Number Of Shares Treasury And Warrants Cancelled NumberOfSharesTreasuryAndWarrantsCancelled	450000	shares
	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	0	usd
	VRVR	Reverse Recognized Expense ReverseRecognizedExpense	578712	usd
CY2023Q2	us-gaap	Accounts Payable Current And Noncurrent AccountsPayableCurrentAndNoncurrent	45000	usd
CY2022Q1	us-gaap	Stock Issued1 StockIssued1	235000	usd
CY2022Q1	us-gaap	Share Price SharePrice	1.25
CY2023Q2	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-422	usd
CY2022Q2	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-79	usd
	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-406	usd
	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-650	usd
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zCt6v2Or3xN1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><span style="text-decoration: underline"><span id="xdx_86D_zFDJzcv7oYMc">Concentration of Credit Risk</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Some of our US dollar balances are held in a Bermuda bank that is not insured. As of June 30, 2023 and September 30, 2022, uninsured deposits in the Bermuda bank totaled $<span id="xdx_907_eus-gaap--CashUninsuredAmount_iI_c20230630__dei--LegalEntityAxis__custom--BermudaBankMember_zFA55w4zPiDk" title="Cash, uninsured deposits">250</span> and $<span id="xdx_901_eus-gaap--CashUninsuredAmount_iI_c20220930__dei--LegalEntityAxis__custom--BermudaBankMember_z7GEvAc1zTo7" 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_90E_eus-gaap--CashFDICInsuredAmount_iI_c20230630__srt--RangeAxis__srt--MaximumMember_z5GL39PIMEpl" title="Cash, FDIC insured amount">250,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	35136	usd
CY2022Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	20689	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	110733	usd
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	80719	usd
CY2023Q2	VRVR	Royalty Receivable Current RoyaltyReceivableCurrent	82214	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
CY2023Q2	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	200000	shares
CY2023Q2	us-gaap	Treasury Stock Value Acquired Cost Method TreasuryStockValueAcquiredCostMethod	0	usd
CY2023Q2	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	691250	shares
CY2023Q2	us-gaap	Treasury Stock Preferred Shares TreasuryStockPreferredShares	691250	shares
CY2022Q3	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	41250	shares
CY2022Q3	us-gaap	Treasury Stock Preferred Shares TreasuryStockPreferredShares	41250	shares
CY2023Q2	us-gaap	Treasury Stock Carrying Basis TreasuryStockCarryingBasis	0	usd
CY2022Q3	us-gaap	Treasury Stock Carrying Basis TreasuryStockCarryingBasis	0	usd
CY2022Q3	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	41250	shares
CY2023Q2	VRVR	Common Stock Capital Share Value Reserved For Future Issuance CommonStockCapitalShareValueReservedForFutureIssuance	799978	usd

Files In Submission

Name	View Source	Status
0001493152-23-029537-index-headers.html	Edgar Link	pending
0001493152-23-029537-index.html	Edgar Link	pending
0001493152-23-029537.txt	Edgar Link	pending
0001493152-23-029537-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
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
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-20230630.xsd	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
vrvr-20230630_def.xml	Edgar Link	unprocessable
vrvr-20230630_lab.xml	Edgar Link	unprocessable
vrvr-20230630_cal.xml	Edgar Link	unprocessable
vrvr-20230630_pre.xml	Edgar Link	unprocessable
form10-q_htm.xml	Edgar Link	completed

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$VRVR
VIRTUAL INTERACTIVE TECHNOLOGIES CORP. Stock $vrvr

2023 Q3 Form 10-Q Financial Statement

#000149315223029537 Filed on August 21, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VRVR VIRTUAL INTERACTIVE TECHNOLOGIES CORP. Stock $vrvr

2023 Q3 Form 10-Q Financial Statement

#000149315223029537 Filed on August 21, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VRVR
VIRTUAL INTERACTIVE TECHNOLOGIES CORP. Stock $vrvr