Visium Technologies Inc (VISM)

[Shibli]

I was about to buy their shares, but decided to simply read all their past 2 years SEC filing and their detailed financial statements.

Being an accountant , I prefer to look at things on quantitative aspect

First thing to note is the company has zero revenue for the last three years f/s which I checked, they have no fixed assets or notable current asset . All they have is liabilities and they do confess well that their business might not be able to survive if they can't raise more capital

The company is so poor that they have to pay the consultant with shares and basically issued shares left and right to meet it's short term payable and liability obligations

At June 2019 the price per share was above 10 cents and now at .0006, that means if you invested $100 now it's worth 60 cents !

Now with the cygraph thing it doesn't matter if they are not capable of generating a dollar in revenue. Infact the agreement with MITRE requires them to raise 2 million dollar in 18 months from accredited investors and sell at-least 5 commercial products.

Given the track record of the company and the components of their financial statements, anyone would doubt,

I was almost going to buy shares based on recommendations but reading the negative reviews here and scanning through their financial statements, I have decided to give up on the idea. I would only reconsider if they report any revenue on their next 10Q or 10k

Thanks to the other posters who pointed out their past activities.