Visium Technologies Inc (VISM)

[joshin]

no revenue from license deal yet over 1 year now do your ddcread 10k[/License Contingent Consideration

Our license agreements with the sellers of Threat Surface Solutions Group, LLC includes a provision for a royalty payment based on ten percent (10%) of sales generated by Threat Surface Solutions Group beginning on the Agreement Date and ending on October 12, 2021, capped at a maximum royalty of $2,500,000. As of June 30, 2020, we have not generated any revenue related to these license agreements.

At October 9, 2020, we had 3 full time employees.


Management and our auditors have raised substantial doubts as to our ability to continue as a going concern.

Our financial statements have been prepared assuming we will continue as a going concern. Since inception we have experienced recurring net losses which losses caused an accumulated deficit of approximately $48 million as of June 30, 2020. These factors, among others, raise substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty.

We currently have a working capital deficit and negative cash flow from operations and are uncertain if and when we will be able to pay our current liabilities.

Our working capital deficit was approximately $3.4 million as of June 30, 2020. This deficit consists of $30,251 in current assets, offset by $3,411,011 in current liabilities. In addition, we had negative cash flow from operations for the year ended June 30, 2020 of approximately $107,000