VISIUM TECHNOLOGIES, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2025 · Filed Feb 20, 2026
VISMStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-19.
0001654954-25-013301
Item 2. Management’s Discussion and Analysis and Results of OperationsCurrent report: 10-Q
Period ended 2025-12-31; filed 2026-02-20.
0001654954-26-001435
Item 2. Management’s Discussion and Analysis and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 63 previous paragraphs and 132 current paragraphs.
24 unchanged; 14 reworded; 93 added; 25 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 9 previous and 17 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (93)
Current report
Business Transformation and Strategic Pivot
Current report
Over the past 18 months, Visium Technologies has undergone a comprehensive transformation from a traditional cybersecurity solutions provider into a pure-play agentic AI company serving defense, critical infrastructure, and government sectors globally. This strategic pivot positions the Company at the forefront of the rapidly expanding agentic AI market, which is projected to reach $1.3 trillion by 2030.
Current report
Visium is now a global provider of agentic artificial intelligence solutions for cybersecurity, public safety, and critical infrastructure protection. The Company delivers mission-critical intelligence through its flagship TruContext™ platform and expanded product suite, which includes Tru-InSight™ for AI-powered video intelligence and TruTrack™ for IoT asset tracking and monitoring.
Current report
Visium completed extensive proprietary development to commercialize CyGraph as TruContext™, transforming it into an agentic AI platform that eliminates hallucinations and delivers verifiable, actionable intelligence. Key enhancements included developing native cloud architecture, implementing multi-user and multi-tenant capabilities, creating an intuitive graph-based user interface, and integrating advanced agentic AI capabilities that enable autonomous threat detection, response, and remediation.
Current report
TruContext™ Agentic AI Platform
Current report
TruContext™ represents the next generation of cybersecurity and intelligence platforms, powered by agentic AI that operates autonomously to detect, analyze, and respond to threats in real-time. Unlike traditional AI systems that require constant human oversight, TruContext™'s agentic capabilities enable it to:
Current report
The platform leverages graph database technology to visualize and analyze highly connected data in real-time, providing security analysts and decision-makers with contextualized intelligence that enables immediate, informed action. TruContext™ ingests data from any source, unifies fragmented security information across siloed systems, and presents comprehensive visualizations that allow analysts to intuitively understand their security posture at a glance.
Current report
TruContext™'s agentic AI architecture addresses critical market needs by eliminating false positives, prioritizing genuine threats, and automating previously manual security operations tasks. This enables security teams to focus on strategic initiatives rather than routine monitoring and analysis. The platform's no-code interface empowers business users to engage with complex security data, perform sophisticated analysis, and generate actionable insights without requiring technical specialists.
Current report
Expanded Product Portfolio
Current report
In September 2025, Visium launched Tru-InSight™, an AI-powered cloud-native video intelligence module that transforms existing camera networks and video management systems from passive recording tools into proactive intelligence networks. Tru-InSight™ ingests video events and snapshots from virtually any camera or VMS through webhook connectors, lightweight adapters, or standard integrations, enabling enterprises and government agencies to anticipate and mitigate threats before they escalate—without costly infrastructure replacement.
Current report
Tru-InSight™ features include:
Current report
The Company's TruTrack™ solution provides IoT-based asset tracking and environmental monitoring for insurance, logistics, fuel distribution, and industrial applications. TruTrack™ leverages the TruContext™ Graph Analytics Platform to deliver real-time asset visibility, route optimization, fraud prevention, and predictive maintenance capabilities.
Current report
Use Cases and Applications
Current report
TruContext™ and the expanded product suite address critical needs across multiple sectors:
Current report
Cybersecurity and Critical Infrastructure: The platform provides real-time threat intelligence, forensics, and root cause analysis for IT/OT environments. Organizations facing sophisticated cyber threats can deploy TruContext™ to detect breaches that might otherwise go unnoticed for months. For example, attacks similar to the SolarWinds breach (which went undetected for 14 months) would be quickly identified and remediated through TruContext™'s real-time network analysis and agentic threat response capabilities.
Current report
TruContext™ enables proactive threat hunting, using the MITRE ATT&CK® framework and open-source intelligence to identify malicious activity beyond physical network boundaries. When sensitive data exfiltration occurs, the platform automatically identifies the activity, traces the attack path, and provides alerts with full context for immediate remediation.
Current report
Public Safety and Law Enforcement: Through Tru-InSight™, law enforcement agencies can analyze highly connected data in real-time from multiple sources, making rapid connections between persons, objects, locations, and events using the POLE (Person, Object, Location, Event) model. This generates insights into patterns, behaviors, and incidents that enable proactive crime prevention rather than reactive investigation.
Current report
Smart Cities and Government Operations: Visium's integrated platform provides municipal governments and national agencies with comprehensive situational awareness across public safety, transportation, critical infrastructure, and emergency response systems. The agentic AI capabilities enable automated coordination across multiple agencies and systems during crisis events.
Current report
Enterprise Security Operations: Organizations deploy TruContext™ to unify their security technology stack, eliminating data silos created by disparate point solutions. The platform ingests data from existing security tools and provides comprehensive visualization and automated analysis, significantly improving security analyst productivity while reducing complexity and operational costs.
Current report
Revenue Model and Market Strategy
Current report
Visium generates revenue through three primary channels:
Current report
Strategic Contracts and Market Position
Current report
The Company has established a strong foundation for growth in emerging markets across South America and Africa, securing multi-year contracts that demonstrate the commercial viability of its agentic AI platform:
Current report
West Africa - National Data Center Cybersecurity: In November 2023, through its partnership with Cybastion Institute of Technology, Visium secured a contract valued at over $20 million as part of the U.S. Export-Import Bank's (EXIM) $100+ million financing initiative for Africa's digital infrastructure development. The project encompasses cybersecurity integration and systems management for national data centers in Côte d'Ivoire and Benin, including data center architecture and design, power and civil engineering, network topology, vendor management, and comprehensive security stack solutions powered by TruContext™. EXIM provided a $66 million guarantee for Côte d'Ivoire's national data center and a $47 million guarantee for digitalization of government ministries.
Current report
Peru - AI-Powered Public Safety: Through partnership with IREX.AI, Visium is working with the Peruvian National Police (PNP) on a multi-year project deploying Tru-InSight™ for AI-driven situational awareness across municipal public safety operations. The initial engagement includes a two-year contract with an option for three additional years. The deployment combines video surveillance with intelligent analytics for threat identification and response across 50,000+ cameras deployed throughout 25 regions.
Current report
Democratic Republic of Congo - National Infrastructure: The Company is pursuing opportunities for comprehensive digital infrastructure and addressing system projects, including national mapping initiatives and critical infrastructure protection programs.
Current report
These strategic opportunities establish proof points for Visium's technology and promise to create recurring revenue streams while demonstrating the platform's applicability across diverse use cases and geographic markets.
Current report
Visium leverages strategic partnerships to accelerate market penetration and enhance platform capabilities:
Current report
Technology Partnerships: The Company maintains alliances with technology providers focused on security analytics, network and infrastructure security, threat platforms, orchestration, and automation. These partnerships enable integration of TruContext™ with complementary security tools and extend the platform's reach through partner distribution channels.
Current report
Key partnerships include:
Current report
Government and Export Finance Support: Visium benefits from U.S. government support for technology exports to emerging markets through EXIM Bank financing programs. These programs provide competitive advantages when pursuing large-scale international infrastructure projects.
Current report
Visium relies on third-party data center facilities to host cloud-based product offerings and licenses certain commercial and open-source software components that are integrated with its solutions. The Company maintains relationships with cloud infrastructure providers to ensure global availability and performance of its SaaS offerings.
Current report
Technology Infrastructure and Competitive Advantages
Current report
Visium's competitive positioning is based on several key differentiators:
Current report
Agentic AI Architecture: Unlike traditional cybersecurity tools that require extensive human analysis and intervention, TruContext™'s agentic capabilities enable autonomous operation, dramatically reducing response times and analyst workload while improving detection accuracy.
Current report
Transparent and Explainable AI: The platform eliminates the "black box" problem common in AI systems by providing full visibility into decision-making processes. This transparency is critical for defense, critical infrastructure, and government applications where explainability and auditability are mandatory requirements.
Current report
Graph-Based Analytics: The underlying graph database technology enables visualization and analysis of highly connected data that is impossible to comprehend using traditional relational databases or SIEM tools. This provides security analysts with intuitive understanding of complex network relationships and attack patterns.
Current report
Platform Integration: TruContext™'s ability to ingest data from any source and unify information across disparate security tools addresses a critical market need. Organizations typically deploy 20-50 security point solutions that create data silos; TruContext™ eliminates these silos by providing a comprehensive analytics layer across the entire security stack.
Current report
No-Code Interface: The platform's intuitive GUI enables business users and security analysts to perform sophisticated queries, create custom visualizations, and generate reports without coding or database expertise. This democratizes access to advanced analytics capabilities.
Current report
Emerging Market Focus: Visium's strategic focus on underserved emerging markets in Africa, South America, and other regions provides access to high-growth opportunities with reduced competition compared to saturated North American and European markets.
Showing the first 40 of 93 passages. Open the source sections for the rest.
Removed paragraphs (25)
Previous report
The Company is entering the digital transformation and data center design and construction market after it landed a contract in November, 2023 valued at over $20 million from its partner, Cybastion Institute of Technology. The contract is to oversee the design and construction of data centers in the Republic of Côte d’Ivoire and the Republic of Benin. Visium is tasked with creating data centers that meet specific requirements and standards, ensuring optimal performance and reliability. The scope of work includes data center architecture and design, power civil engineering, controls and distribution systems, rack layouts, network topology, vendor high availability, and a comprehensive security stack solution which will include Visium’s proprietary TruContext TM cybersecurity platform. As of September 30, 2025 no activity has occurred pursuant to this contract.
Previous report
The TruContext TM platform provides visualization, advanced cyber monitoring intelligence, threat hunting, forensic and root cause analysis, data modeling, analytics, and automation to help reduce risk, simplify security, and deliver better security outcomes. Our mission is to help people see and understand data, empowering decision-makers to make more informed and more timely decisions. Our solutions put the power of data into the hands of everyday people, allowing a broad population of business users to engage with their data, ask questions, solve problems, and create value.
Previous report
Our products dramatically reduce the complexity and expense associated with traditional business intelligence applications. Our software allows people to access information, perform analysis, and share results without assistance from technical specialists. By putting powerful analytical technology directly into the hands of people who make decisions with data, we accelerate the pace of informed and intelligent decision-making. Our TruContext TM platform enables our customers to reduce or streamline their siloed and layered security products, simplifying operations while providing a comprehensive solution. Our solution automates certain previously manual tasks, freeing up personnel to focus on their most important objectives.
Previous report
TruContext TM can be deployed in a broad range of use cases such as cyber security threat intelligence and forensics, IT/OT critical infrastructure security, supply chain analytics, anti-fraud, law enforcement, compliance, and health care. For example, a breach of your network might go undetected for months, as was the case with the Solar Winds hack that occurred in 2019-2020. In that case the hackers went undetected for 14 months. A Solar Winds type breach may not be preventable, but with TruContext TM analyzing streaming network data in real-time, this hack would almost certainly have been identified and remediated very quickly by the affected enterprise.
Previous report
TruContext TM is a very effective tool for proactively and iteratively searching through networks to detect and isolate advanced threats that evade existing security solutions. Should a breach occur, TruContext TM can quickly perform forensics and root cause analysis, identifying when an incident occurred, how it occurred, and the downstream effects of the incident to the network.
Previous report
One of the top challenges faced by Security practitioners is to keep up with the increase in new cyber-attacks while investigating and remediating existing threats. Time is of the essence while investigating potential threats and determining the scope and root-cause of a potential reach.
Previous report
Shortage of resources and experienced personnel continues to limit the ability of companies to conduct thorough investigations. Root cause analysis and forensics are key to intelligently securing the network.
Previous report
TruContext TM directly addresses these challenges by:
Previous report
Providing real-time comprehensive visualized information on security events, that
Previous report
The real-time ingestion of and visualization of massive amounts of data simplifies the cyber effort, allowing the cyber analyst to intuitively understand the security posture of the organization at a glance.
Previous report
Using TruContext TM makes the cyber analyst significantly more productive by eliminating false positives and prioritizing threat events.
Previous report
TruContext TM ingests cyber data fromany source, making the data generated by other cyber tools easily understood and actionable. TruContext TM give the security analyst the ability to combine, layer, filter, and query data with a no-code user interface in a way that no other analytics platform can do.
Previous report
There are some sophisticated and powerful cybersecurity tools currently available, but they all lack one thing – providing a comprehensive contextualized understanding of the data. Analysts have too many tools that don’t communicate, creating silos of data/information. TruContext TM brings all the information for a comprehensive visualization.
Previous report
Using the MITRE ATT&CK framework, along with other open source intelligence information, TruContext TM can hunt threats beyond the physical network boundary so that the analyst fully understands his security posture in real time.
Previous report
TruContext TM leverages MITRE’s ATT&CK® framework, which is a globally-accessible knowledge base of adversary tactics and techniques based on real-world observations. The ATT&CK knowledge base is used as a foundation for the development of specific threat models and methodologies in the private sector, in government, and in the cybersecurity product and service community.
Previous report
A use case example for TruContext TM would be in the event sensitive data is being exfiltrated from your network to an external IP address. TruContext TM has the capability to identify this activity and provide alerts that would allow the cyber analyst to quickly remediate the problem.
Previous report
Another example of how TruContext TM can be used by law enforcement in the context of police investigations. TruContext TM can analyze highly connected data in real time from any source and make connections which help police solve crime. Connections are quickly made between persons, objects, locations, and events (the POLE model), generating insights into patterns of behaviors and incidents. Using real-time data with TruContext TM helps investigators be proactive and prevent crime or other incidents, rather than only reacting after an incident has occurred.
Previous report
Visium currently plans to generate revenue in three (3) primary ways:
Previous report
We work with a number of technology alliance partners to design go-to-market strategies that combine our platform with products or services provided by our technology alliance partners. These partner integrations deliver more secure solutions and an improved end user experience to their customers. Our technology alliance partnerships focus on security analytics, network and infrastructure security, threat platforms and orchestration, and automation.
Previous report
Visium heavily relies on our technology and infrastructure to provide our products and services to our customers. For example, we host many of our products using third-party data center facilities, and we do not control the operation of these facilities. In addition, we rely on certain technology that we license from third parties, including third-party commercial software and open-source software, which is used with certain of our solutions.
Previous report
The markets for our solutions are highly competitive, and we expect both the requirements and pricing competition to increase, particularly given the increasingly sophisticated attacks, changing customer preferences and requirements, current economic pressures, and market consolidation. Competitive pressures in these markets may result in price reductions, reduced margins, loss of market share and inability to gain market share, and a decline in sales, any one of which could seriously impact our business, financial condition, results of operations, and cash flows. We may face competition due to changes in the manner that organizations utilize IT assets and the security solutions applied to them, such as the provision of privileged account security functionalities as part of public cloud providers’ infrastructure offerings, or cloud-based identity management solutions. Limited IT budgets may also result in competition with providers of other advanced threat protection solutions such as McAfee, LLC, Palo Alto Networks, Splunk Inc., and Dynatrace. We also may compete, to a certain extent, with vendors that offer products or services in adjacent or complementary markets to privileged access management, including identity management vendors and cloud platform providers such as Okta and Tableau.
Previous report
Gain on Debt Write-Off
Previous report
We cannot ascertain that we have sufficient funds from operations to fund our ongoing operating requirements through June 30, 2026. We may need to raise funds to enhance our working capital and use them for strategic purposes. If such need arises, we intend to generate proceeds from either debt or equity financing.
Previous report
We intend to finance our operations using a mix of equity and debt financing. We do not anticipate incurring capital expenditures for the foreseeable future. We anticipate that we will need to raise approximately $180,000 per year in the near term to finance the recurring costs of being a publicly-traded company. In the long-term, we anticipate we will need to raise a substantial amount of capital to complete an acquisition. We are unable to quantify the resources we will need to successfully complete an acquisition. If these funds cannot be obtained, we may not be able to consummate an acquisition or merger, and our business may fail as a result.
Previous report
Three months ended September 30, 2025
Reworded paragraphs (14)
Previous wording
Visium is a provider of IT infrastructure professional services including network engineering, system engineering, converged infrastructure deployment, software development, and cybersecurity services. Visium’s proprietary cyber security visualization, big data analytics and automation platform operates in the traditional cyber security space, as well as in the Internet of Things and data analytics spaces. In March 2019, Visium entered into a software license agreement with MITRE Corporation to license a patented technology known as CyGraph, a tool for cyber warfare analytics, visualization and knowledge management. CyGraph is a military-grade, highly scalable big data analytics tool for cyber security, using graph database technology. The development of the technology was sponsored by the US Army and is currently in use by U.S. Army Cyber Command. CyGraph provides advanced analytics for cybersecurity situational awareness that is scalable, flexible and comprehensive. Visium has completed significant proprietary product development efforts to commercialize CyGraph, which the Company has rebranded as TruContext TM. The commercialization efforts included adding functionality to the core technology to make it a native cloud application, adding multi-user and multi-tenant capability, enhancing the graphical user interface, (“GUI”) to make the application more intuitive to use, and adding enhanced dashboard and reporting capabilities. TruContext TM would typically be deployed by an enterprise and be used by the security analyst to intuitively understand the massive amount of data flowing through the network environment, giving the analyst actionable information in real-time to ensure that the network is protected from threats. The analyst will understand the relationships of the assets in the data center, the communication patterns, and cybersecurity exposures, in real-time.
Current wording
The Company's technology foundation originated from a March 2019 software license agreement with MITRE Corporation for CyGraph, a patented military-grade technology for cyber warfare analytics, visualization, and knowledge management. CyGraph, developed with sponsorship from the U.S. Army and currently deployed by U.S. Army Cyber Command, provides advanced analytics for cybersecurity situational awareness that is scalable, flexible, and comprehensive.
Previous wording
On average, according to CrowdStrike, the time from breach to harm caused by threat actors is 98 minutes making the ability to:
Current wording
According to CrowdStrike research, the average time from breach to harm caused by threat actors is 75 minutes, making real-time threat identification and automated response capabilities critically important. TruContext™'s agentic AI architecture addresses this challenge by continuously monitoring network environments and executing immediate response protocols when threats are detected.
Previous wording
Our common stock is quoted on the OTC ID under the symbol “VISM”.
Current wording
Our common stock is quoted on the OTC Pink under the symbol “VISM.”
Previous wording
The decrease in selling, general and administrative expenses during fiscal Q1 of 2025, when compared with the prior year, is primarily due to a decrease in salaries of $23,074, stock-based consulting expense of $21,545, accounting expenses of $8,725, offset by higher stock-based compensation expense of $51,500.
Current wording
The increase in selling, general and administrative expenses of $140,464 during fiscal 2025, when compared with the prior year, is primarily due to an increase in stock-based compensation of $204,150 and higher travel expenses of $486, offset by a decrease in stock-based consulting expense of $18,970, lower salary expense of $46,757, and lower accounting expense of $6,027.
Previous wording
We believe that our selling, general, and administrative expenses will remain consistent over the balance of the fiscal year. Other expenses may increase as we increase our business activity over the remainder of fiscal 2026.
Current wording
We believe that our selling, general, and administrative expenses will be lower over the rest of the current fiscal year, driven by an anticipated decrease in stock-based compensation expense, offset by an increase in expenses related to greater business activity over the remainder of fiscal 2026.
Previous wording
Interest expense represents stated interest of notes and convertible notes payable, along with the amortization of debt discount. The increase in interest expense during the three-month period ended September 30, 2025 is primarily due to the acceleration of discount amortization expense during fiscal 2026, and higher interest bearing note balances in the current year.
Current wording
Interest expense represents stated interest of notes and convertible notes payable as well as amortization of debt discount. Interest expense is lower for the six months ended December 31, 2025 due to lower debt discount amortization of $27,519, offset by higher interest expense of $23,253 as compared to the prior year period.
Previous wording
In July 2024, the Company obtained a legal opinion to extinguish aged debt totaling $725,059 as detailed in the following table. Each of the individual debt instruments were determined to be beyond the statute of limitations and it was determined that the Company has a complete defense to liability related to this debt under the applicable statute of limitations.
Current wording
In July 2024 the Company obtained a legal opinion to extinguish aged debt totaling $725,059 as detailed in the following table. Each of the individual debt instruments were determined to be beyond the statute of limitations and it was determined that the Company has a complete defense to liability related to this debt under the applicable statute of limitations. For the six months ended December 31, 2024 the gain on extinguishment of debt was:
Previous wording
Discussion of Results for Three Month Period Ended September 30, 2025 and 2024
Current wording
Three Month Period Ended December 31, 2025
Previous wording
For the three months ended September 30, 2025, selling, general and administrative expenses were $369,623 as compared to $370,466 for the three months ended September 30, 2024, a decrease of $843 or approximately 0.2%. For the three months ended September 30, 2025 and 2024 selling, general and administrative expenses consisted of the following:
Current wording
For the three months ended December 31, 2025, selling, general and administrative expenses were $421,789 as compared to $280,483 for the three months ended December 31, 2024. For the three months ended December 31, 2025 and 2024 selling, general and administrative expenses consisted of the following:
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 approximately $163,712 and $110,600 during the three-month periods ended September 30, 2025 and 2024, respectively, and has a working capital deficit of approximately $6.04 million and $5.84 million at September 30, 2025 and June 30, 2025, 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, once a merger with an operating company is consummated. Management plans may continue to provide for its capital requirements by issuing additional equity securities and debt and the Company will continue to find possible acquisition targets. 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 $292,693 and $218,247 during the six-month periods ended December 31, 2025 and 2024, respectively, and has a working capital deficit of approximately $6.39 million and $5.84 million at December 31, 2025 and June 30, 2025, 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 three months ended September 30, 2025 increased by $53,112 or 48% over the same period during fiscal year 2025.
Current wording
Net cash used in operations during the six months ended December 31, 2025 increased by $74,446 or 34% over the same period during fiscal year 2024. The cash provided by financing was obtained through advances from directors totaling $49,500 and the issuance of promissory notes that netted the Company $322,041 during the six months ended December 31, 2025.
Previous wording
During the quarter ending September 30, 2025 we generated net proceeds of $142,105 from the issuance of two promissory notes.
Current wording
During the six months ending December 31, 2025 we generated net proceeds of $322,041 from the issuance of seven promissory notes.
Previous wording
The Company had convertible promissory notes aggregating $179,132 outstanding at September 30, 2025. The accrued interest amounted to approximately $122,805 as of September 30, 2025. The Convertible Notes Payable bear interest at rates ranging between 0% and 18% per annum. Interest is generally payable at maturity. The Convertible Notes Payable are generally convertible at rates ranging between $0.0042 and $121.50 per share, at the holders’ option. At September 30, 2025, approximately $179,132 of the promissory notes have matured.
Current wording
The Company had convertible promissory notes aggregating $179,132 outstanding at December 31, 2025. The accrued interest amounted to approximately $127,910 as of December 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 $121.50 per share, at the holders’ option. At December 31, 2025, $179,132 of the convertible promissory notes have matured and are in default.
Previous wording
The Company had promissory notes aggregating $1,124,823 at September 30, 2025. The related accrued interest amounted to approximately $205,439 at September 30, 2025. The Notes Payable bear interest at a rate of 0% to 16% per annum. Interest is payable monthly. Promissory notes totaling $615,000 have matured as of September 30, 2025.
Current wording
The Company had promissory notes aggregating $1,250,929 at December 31, 2025. The related accrued interest amounted to approximately $240,444 at December 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 December 31, 2025, $785,000 of the promissory notes have matured and are in default.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
The Company’s ability to continue operations is dependent on: