Visium Technologies, Inc. announced that it has entered into a Securities Purchase Agreement with returning investor, 1800 Diagonal Lending, LLC pursuant to which the company issued to the investor on that date a 10% Convertible Promissory Note in the principal amount of $39,900 in exchange for a purchase price of $38,000 on August 14, 2023. The note was funded by the investor on August 17, 2023 and an original issue discount of 4.76% was applied on the issuance date and the company reimbursed the investor for expenses for legal fees and due diligence of $5,000, resulting in net loan proceeds to us of $33,000. The Purchase Agreement includes customary representations, warranties and covenants by the company and customary closing conditions.

The note matures 12 months after the date of issuance. The note is convertible into shares of the company?s common stock at any time during the period the note is outstanding, at a fixed conversion price of $1.50 within 180 days following the issue date and at a variable conversion price of 65% multiplied by certain lowest trading price of the company?s common stock thereafter.