Visium terminates ConnexUS AI incubation; Cheddi Rai resigns from all positions

VISIUM TECHNOLOGIES, INC.

Terminated LOI and SOW for ConnexUS acquisition; $190k incubation funding is non-refundable expense.
All ATHENA platform IP remains sole property of ConnexUS; no ownership rights passed to Visium.
Cheddi Rai resigned as officer, director, consultant; no severance or compensation owed; mutual releases granted.
Board now consists of Paul Taylor (CEO), Mark Lucky (CFO), and David Pierce (Independent Director).
Company expects termination eliminates ongoing financial/legal exposure, enabling focus on core AI analytics.

item 1.02 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Cheddi Rai

officer, director, employee, consultant, or other positions

VISM · VISIUM TECHNOLOGIES, INC.

Effective: 2026-06-08
Filed: June 10, 2026, 4:29 PM ET

Effective upon execution of the Release Agreement on June 8, 2026, Cheddi Rai resigned from any and all officer, director, employee, consultant, or other positions with Visium Technologies, Inc. and its subsidiaries and affiliates.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Cheddi Rai resigned as officer, director, employee, consultant, or other positions at VISIUM TECHNOLOGIES, INC..

Action: resigned
Role: officer, director, employee, consultant, or other positions

Exact text from the filing

Effective upon execution of the Release Agreement on June 8, 2026, Cheddi Rai resigned from any and all officer, director, employee, consultant, or other positions with Visium Technologies, Inc. and its subsidiaries and affiliates.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

VISIUM TECHNOLOGIES, INC. terminated Amended and Restated Letter of Intent with ConnexUS AI Inc. valued at Termination of LOI and SOW; mutual releases; no further financial obligations; $190,000 non-refundab (effective 2026-06-08).

Action: termination
Agreement: collaboration
Counterparty: ConnexUS AI Inc.
Value: Termination of LOI and SOW; mutual releases; no further financial obligations; $190,000 non-refundab
Effective: 2026-06-08

Exact text from the filing

On June 8, 2026, the Board of Directors (the “Board”) of Visium Technologies, Inc. (the “Company” or “Visium”), acting by unanimous written consent in lieu of a special meeting pursuant to Section 607.0821, Florida Statutes, and the Company’s Bylaws, carefully reviewed the status of the Company’s incubation arrangement with ConnexUS AI Inc., a Delaware corporation (“ConnexUS”).

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VISIUM TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001654954-26-005858

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