Visium Technologies Converts $1.6M Debt to Series D Preferred Stock, Addressing Financial Distress
VISM has more than doubled off its 52-week low of $0.001 on elevated volume (13× avg).
Summary
Visium Technologies, Inc. issued 1.6 million shares of new Series D Convertible Preferred Stock to extinguish approximately $1.6 million in outstanding debt, including officer payables, a critical step for the financially distressed company.
Key Events · Financing and Capital Events · VISM
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Significant Debt-to-Equity Conversion
Visium Technologies issued 1,597,868 shares of Series D Callable Convertible Preferred Stock to approximately 40 accredited investors and related parties, including certain officers.
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Substantial Debt Extinguishment
This issuance fully cancelled $1,597,868.39 of outstanding indebtedness, comprising various promissory notes and accrued officer and related-party payables.
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New Series D Preferred Stock Designated
The Series D Preferred Stock has a Stated Value of $1.00 per share, a 3% cumulative dividend, and is convertible into common stock at a fixed price of $0.05 per share, subject to broad-based weighted-average anti-dilution adjustments.
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Balance Sheet Improvement for Distressed Company
This action significantly reduces the company's debt burden, directly addressing its previously disclosed "going concern" issues and improving its financial position.
Analysis · VISM · Technology
This filing is highly significant for Visium Technologies, a company previously reporting substantial doubt about its ability to continue as a going concern. The conversion of approximately $1.6 million in debt, which is over 150% of its current market capitalization, into Series D Preferred Stock substantially cleans up the balance sheet and reduces immediate financial obligations. While this introduces a new class of preferred stock with potential future dilution upon conversion into common shares at a fixed price of $0.05, it is a necessary measure to improve the company's financial stability and extend its operational runway. This action follows a pattern of debt restructuring, as seen in the recent $182k debt settlement on April 15, 2026. Investors should monitor the conversion activity of the Series D Preferred Stock and the company's progress towards a "Qualifying Transaction" which could trigger redemption.
At the time of this filing, VISM was trading at $0.00 on OTC in the Technology sector, with a market capitalization of approximately $1M. The 52-week trading range was $0.00 to $0.05. This filing was assessed with neutral market sentiment and an importance score of 9 out of 10.