VISIUM TECHNOLOGIES, INC. determined that its Series G Governing Preferred Stock was never issued and terminated the designation’s purported rights. Investors are told that Series A and Series B Convertible Preferred Stock remain outstanding under their original terms, while Diluted Earnings per Share will exclude any Series G theory.

Key Highlights

  • Series A Convertible Preferred Stock and Series B Convertible Preferred Stock remain outstanding under their original designation terms.
  • Officers were authorized to prepare and submit Articles of Amendment to the Florida Department of State.
  • Visium Technologies determined that its Series G Governing Preferred Stock was never issued.
  • The purported Series G rights, including consent and veto rights, were terminated.

VISIUM TECHNOLOGIES, INC. (OTC: VISM) has determined that its Series G Governing Preferred Stock was never issued. The designation’s purported rights, including consent or veto rights connected with the Series A and Series B preferred stock, have been terminated.

Series G Designation Deleted

On September 11, the board concluded that no Series G shares had been issued on April 14 or at any time afterward. No consideration was received, no certificate or book-entry position was delivered, and no holder was entered in the stock ledger. The board authorized company officers to prepare, execute and submit Articles of Amendment to the Florida Department of State. Visium Technologies also authorized corrective updates to its corporate records and future annual report.

Existing Preferred Stock Remains Unchanged

The Series G designation and the rights purportedly associated with it, including voting, consent and veto provisions, were withdrawn and ended. Series A Convertible Preferred Stock and Series B Convertible Preferred Stock remain outstanding under their original Certificates of Designation. The board’s resolutions do not amend, subordinate, redeem or otherwise alter those securities. The designated Series G preferred stock returns to authorized but unissued preferred stock without a series designation, available for future designation by the board. Diluted earnings per share will be computed without regard to any Series G theory.