VISIUM TECHNOLOGIES, INC.

Previous wording

For the six months ended December 31, 2024, selling, general and administrative expenses were $650,948 as compared to $1,591,308 for the six months ended December 31, 2023. For the six-month periods ended December 31, 2024 and 2023 selling, general and administrative expenses consisted of the following:

Current wording

For the nine months ended March 31, 2025, selling, general and administrative expenses were $907,968 as compared to $1,990,912 for the nine months ended March 31, 2024. For the nine-month periods ended March 31, 2025 and 2024 selling, general and administrative expenses consisted of the following:

Previous wording

The decrease in selling, general and administrative expenses of $940,360 during fiscal 2025, when compared with the prior year, is primarily due to a decrease in stock-based consulting expense of $282,825, a decrease in stock-based compensation expense of $557,532, lower consulting expense of $45,000, lower legal and professional fees expense of $10,344, lower salary expense of $10,528, lower travel expenses of $6,46, and lower accounting expense of $13,003.

Current wording

The decrease in selling, general and administrative expenses of $1,082,864 during fiscal 2025, when compared with the prior year, is primarily due to a decrease in stock-based consulting expense of $395,015, a decrease in stock-based compensation expense of $557,532, lower consulting expense of $45,000, lower legal and professional fees expense of $10,344, lower salary expense of $33,934, lower travel expenses of $6,463, and lower accounting expense of $18,833.

Previous wording

Interest expense represents stated interest of notes and convertible notes payable as well as amortization of debt discount. Interest expense is higher for the six months ended December 31, 2024 due to higher note balances, offset by lower debt discount amortization of $75,060 as compared to the prior year period.

Current wording

Interest expense represents stated interest of notes and convertible notes payable as well as amortization of debt discount. Interest expense is higher for the nine months ended March 31, 2025 due to higher note balances, offset by lower debt discount amortization of $75,060 as compared to the prior year period.

Previous wording

For the three months ended December 31, 2024, selling, general and administrative expenses were $280,483 as compared to $1,083,168 for the three months ended December 31, 2023. For the three months ended December 31, 2024 and 2023 selling, general and administrative expenses consisted of the following:

Current wording

For the three months ended March 31, 2025, selling, general and administrative expenses were $257,019 as compared to $399,604 for the three months ended March 31, 2024. For the three months ended March 31, 2025 and 2024 selling, general and administrative expenses consisted of the following:

Previous wording

The decrease in selling, general and administrative expenses of $802,685 for the three months ended December 31, 2024, when compared with the prior year period, is primarily due to a decrease in stock-based consulting expense of $258,748, a decrease in stock-based compensation expense of $543,109, and a decrease in accounting expense of $7,330.

Current wording

The decrease in selling, general and administrative expenses of $142,585 for the three months ended March 31, 2025, when compared with the prior year period, is primarily due to a decrease in stock-based consulting expense of $112,190, a decrease salaries of $23,406, and a decrease in accounting expense of $5,832.

Previous wording

The accompanying financial statements have been prepared on a going concern basis. The Company has used net cash in its operating activities of $218,247 and $267,208 during the six-month periods ended December 31, 2024 and 2023, respectively, and has a working capital deficit of approximately $4.99 million and $5.15 million at December 31, 2024 and June 30, 2024, respectively. The Company’s ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due, to fund possible future acquisitions, and to generate profitable operations in the future. Management plans may continue to provide for its capital requirements by issuing additional equity securities and debt. The outcome of these matters cannot be predicted at this time and there are no assurances that if achieved, the Company will have sufficient funds to execute its business plan or generate positive operating results.

Current wording

The accompanying financial statements have been prepared on a going concern basis. The Company has used net cash in its operating activities of $253,891 and $367,549 during the nine-month periods ended March 31, 2025 and 2024, respectively, and has a working capital deficit of approximately $5.29 million and $5.15 million at March 31, 2025 and June 30, 2024, respectively. The Company’s ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due, to fund possible future acquisitions, and to generate profitable operations in the future. Management plans may continue to provide for its capital requirements by issuing additional equity securities and debt. The outcome of these matters cannot be predicted at this time and there are no assurances that if achieved, the Company will have sufficient funds to execute its business plan or generate positive operating results.

Previous wording

Net cash used in operations during the six months ended December 31, 2024 decreased by $48,961 or about 18% from the same period during fiscal year 2023. The cash used in operations was obtained through advances from directors totaling $56,526, the issuance of promissory notes that netted the Company $270,000 during the six months ended December 31, 2024.

Current wording

Net cash used in operations during the nine months ended March 31, 2025 decreased by $113,658 or about 31% from the same period during fiscal year 2024. The cash used in operations was obtained through advances from directors totaling $95,526, the issuance of promissory notes that netted the Company $332,200 during the nine months ended March 31, 2025.

Previous wording

Net cash used in operations during the six months ended December 31, 2023 decreased by $10,891 or less than 4% from the same period during fiscal year 2022. The cash used in operations was obtained through advances from directors totaling $40,055, the issuance of two convertible notes totaling $86,717, and the issuance of four promissory notes that netted the Company $235,000 during the six months ended December 31, 2023.

Current wording

Net cash used in operations during the nine months ended March 31, 2024 decreased by approximately $66,003 or approximately 14.6% from the same period during fiscal year 2024. The cash provided by financing activities was obtained through advances from directors totaling $79,055, the issuance of two convertible notes totaling $133,000, and the issuance of four promissory notes that netted the Company $335,000 during the nine months ended March 31, 2024.

Previous wording

The Company had convertible promissory notes aggregating $244,419 outstanding at December 31, 2024. The accrued interest amounted to approximately $126,985 as of December 31, 2024. The Convertible Notes Payable bear interest at rates ranging between 0% and 18% per annum. Interest is generally payable monthly. The Convertible Notes Payable are generally convertible at rates ranging between $0.0042 and $22,500 per share, at the holders’ option. At December 31, 2024, $193,020 of the convertible promissory notes have matured and are in default.

Current wording

The Company had convertible promissory notes aggregating $214,502 outstanding at March 31, 2025. The accrued interest amounted to approximately $132,685 as of March 31, 2025. The Convertible Notes Payable bear interest at rates ranging between 0% and 18% per annum. Interest is generally payable monthly. The Convertible Notes Payable are generally convertible at rates ranging between $0.0042 and $22,500 per share, at the holders’ option. At March 31, 2025, $214,502 of the convertible promissory notes have matured and are in default.

Previous wording

The Company had promissory notes aggregating $807,060 at December 31, 2024. The related accrued interest amounted to approximately $106,981 at December 31, 2024. The Notes Payable bear interest at rates ranging between 0% and 18% per annum. Interest is generally payable at maturity of the note. At December 31, 2024, $325,000 of the promissory notes have matured and are in default.

Current wording

The Company had promissory notes aggregating $876,181 at March 31, 2025. The related accrued interest amounted to approximately $136,405 at March 31, 2025. The Notes Payable bear interest at rates ranging between 0% and 18% per annum. Interest is generally payable at maturity of the note. At March 31, 2025, $325,000 of the promissory notes have matured and are in default.