secwatch.observer — SEC 8-K summary
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Issuer:     VISIUM TECHNOLOGIES, INC. (VISM)
CIK:        0001082733
Form:       8-K
Filed at:   2023-12-14T23:59:59+00:00
Accession:  0001654954-23-015558
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Visium Technologies enters $57,500 convertible note with 1800 Diagonal Lending; net proceeds $45,000
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- Loan principal $57,500; 15% OID ($7,500) and $5,000 expense reimbursement yield net proceeds of $45,000.
- One-time interest charge of 15% ($8,625) applied at issuance; total payback $66,125 in nine payments.
- Upon default, note converts into common stock at 58% of lowest trading price over prior 20 trading days.
- Default interest rate 22%; liquidated damages of 150% of outstanding if default occurs.
- Company must reserve shares equal to 6x conversion shares; significant dilution risk for existing shareholders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1082733/000165495423015558/0001654954-23-015558-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1082733/000165495423015558/vism_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-015558

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