Visium Technologies Retires Variable Rate Convertible Note

Rhea-AI Summary

Visium Technologies repays $44,250 convertible note, plans to settle advance with cash from contract revenues. Focus on expanding service offerings and closing new contracts in West Africa and the Caribbean.

Positive

• Visium repays convertible note and plans to settle advance with cash from contract revenues
• Focus on expanding service offerings and closing new contracts

Negative

• None.

FAIRFAX, VA / ACCESSWIRE / September 14, 2023 / Visium Technologies, Inc. ("Visium" or the "Company") (OTC PINK:VISM), a leading global cybersecurity, data analytics, and advisory enterprise, announced today that the Company has repaid and satisfied in full $44,250 that had been owed to a noteholder pursuant to a variable rate convertible note. The note was initially issued in March 2023, and was retired with an advance to the Company from its board of directors.

Mark Lucky, the Chief Executive Officer of Visium, expressed, "The decision to retire the convertible note, which had the potential to dilute our equity, was made by the board of directors based on non-public information. We intend to settle the board's advance with cash generated from the forthcoming contract revenues."

Mr. Lucky continued, "Our primary focus at this juncture is to solidify and expand our service offerings as we prepare to close new contracts in the coming weeks. We remain committed to closely collaborating with our partners to ensure the delivery of world class solutions in West Africa and the Caribbean"

About Visium Technologies, Inc.

Visium Technologies (OTC PINK:VISM) is a cyber security solutions provider that uses graph database technology to deliver an analytics-driven, risk-based approach to cybersecurity that provides context to data so that users can make intelligent decisions in real time. Built for US Army Cyber Command by MITRE Corporation (CyGraph), and then further developed by Visium, our world class TruContext^TM technology provides visualization, advanced cyber monitoring intelligence, data modeling, analytics, and automation to help reduce risk, simplify cyber security, and deliver better security outcomes. TruContext^TM plugs the gaps left by other security tools.

For more information please visit www.visiumtechnologies.com and our YouTube Channel.

Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements that reflect management's current views with respect to future events and performance. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words "believe," "expect," "anticipate," "intend," "estimate," "project" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to, whether the reverse stock split will be beneficial to the Company and its shareholders, any inability to meet the NYSE American continued listing standards in the future for any reason, and those other factors described in our filings with the U.S. Securities and Exchange Commission. Any responsibility to update forward-looking statements is expressly disclaimed.

CONTACT:

Visium Technologies, Inc.
Corporate: Mark Lucky, Chief Executive Officer
mlucky@visiumtechnologies.com

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Corporate Office:
4094 Majestic Lane Suite 360
Fairfax, VA 22033
Phone: 703-273-0383

SOURCE: Visium Technologies, Inc.

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https://www.accesswire.com/784072/visium-technologies-retires-variable-rate-convertible-note