UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act
of 1934
Date of Report (Date of earliest event reported): May 14,
2020
VISIUM TECHNOLOGIES, INC.
(Exact
name of Registrant as specified in its charter)
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Florida
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000-25753
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87-0449667
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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4094 Majestic
Lane, Suite 360
Fairfax, VA 22033
(Address
of principal executive offices, including zip code)
(703) 273 0383
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant
under any of the following provisions:
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☐
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Written
communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c)).
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Securities
registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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N/A
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N/A
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N/A
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR §240.12b-2).
Emerging
growth company ☐
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. ☐
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Item 8.01
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Other Events.
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The
board of directors and management of Visium Technologies, Inc., a
Florida corporation (the “Company”), has determined
that, in light of the circumstances and uncertainty surrounding the
effects of the COVID-19 coronavirus pandemic on the Company’s
business, employees, consultants and service providers, the Company
will delay the filing of its quarterly report on Form 10-Q for the
period ended March 31, 2020 (the “Quarterly Report”) by
up to 45 days in accordance with the SEC’s March 25, 2020
Order (Release No. 34-88465) (the “Order”), which
allows for the delay of certain filings required under the
Securities and Exchange Act of 1934, as amended. The Company, has
been implementing work-arounds for the disruptions to its normal
operations and business due to the unprecedented conditions
surrounding the COVID-19 pandemic spreading throughout the United
States and the world, and is unable to timely review and prepare
the Company’s financial statements for the 2020 quarter end.
The Company will file its Quarterly Report by no later than June
29, 2020, 45 days after the original due date of its Quarterly
Report.
Below
is a risk factor regarding the coronavirus that the Company’s
stockholders and potential investors in the Company should consider
with respect to the year that will end on June 30,
2020.
We face risks related to Novel Coronavirus (COVID-19) which could
significantly disrupt our research and development, operations,
sales, and financial results.
Although the
magnitude of the impact of the Novel Coronavirus (COVID-19)
outbreak on our business and operations remains uncertain, the
continued spread of the Novel Coronavirus (COVID-19) or the
occurrence of other epidemics and the imposition of related public
health measures and travel and business restrictions will adversely
impact our business, financial condition, operating results and
cash flows. In addition to global macroeconomic effects, the Novel
Coronavirus (COVID-19) outbreak and any other related adverse
public health developments will cause disruption to our operations
and sales activities. Our third-party, third-party distributors,
and our customers have been and will be disrupted by worker
absenteeism, quarantines and restrictions on employees’
ability to work, office and factory closures, disruptions to ports
and other shipping infrastructure, border closures, or other travel
or health-related restrictions. Depending on the magnitude of such
effects on our activities or the operations of our third-party
manufacturers and third-party distributors, the supply of our
products will be delayed, which could adversely affect our
business, operations and customer relationships. In addition, the
Novel Coronavirus (COVID-19) or other disease outbreak will in the
short-run and may over the longer term adversely affect the
economies and financial markets of many countries, resulting in an
economic downturn that will affect demand for our products and
services and impact our operating results. There can be no
assurance that any decrease in sales resulting from the Novel
Coronavirus (COVID-19) will be offset by increased sales in
subsequent periods. In addition, we have experienced and will
experience disruptions to our business operations resulting from
quarantines, self-isolations, or other movement and restrictions on
the ability of our employees to perform their jobs that may impact
our ability to develop and design our products and services in a
timely manner or meet required milestones or customer
commitments.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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VISIUM TECHNOLOGIES, INC.
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Date:
May 14, 2020
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By:
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/s/ Mark Lucky
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Mark
Lucky
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Chief
Executive Officer
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