SCHEDULE: Visium Technologies Executive Exits, Disclaims Share Ownership

Visium Technologies, Inc. reports that former COO and CTO Cheddi Rai Bharrat has resigned and disclaims any beneficial ownership of the company's common stock following the termination of a letter of intent with ConnexUS AI.

Summary

• Cheddi Rai Bharrat, formerly an officer and director of Visium Technologies, Inc., has resigned from all positions within the company.
• This resignation is effective June 8, 2026, and is a result of the termination of a non-binding letter of intent (LOI) with ConnexUS AI.
• A Mutual Release, Settlement, and Termination Agreement was executed on or about June 8, 2026, to fully terminate the LOI.
• Following these events, Mr. Bharrat no longer beneficially owns any shares of Visium Technologies' common stock.
• The company has filed this Schedule 13D as an exit filing to reflect the cessation of beneficial ownership.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this filing as neutral to slightly negative, primarily due to the termination of a strategic agreement and the departure of key executives, which introduces uncertainty.

Positives

• The termination of the LOI and Mr. Bharrat's resignation appear to be amicable, with mutual general releases of all claims between Visium Technologies and ConnexUS AI.
• The company has clarified its reporting by filing an exit statement, removing any ambiguity regarding Mr. Bharrat's ownership.

Negatives

• The termination of the LOI with ConnexUS AI suggests a potential setback or failure in a strategic partnership or transaction that was previously contemplated.
• The departure of a COO and CTO indicates a significant change in key leadership and operational/technical direction for the company.

Risks

• The failure of the proposed transaction with ConnexUS AI could impact Visium Technologies' strategic growth plans and future business development.
• The departure of key executives like the COO and CTO may create uncertainty regarding the company's operational execution and technological roadmap.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from the company regarding its future business operations or financial performance. The focus is on the termination of a prior agreement and the resignation of an executive.

Management Comments

• The Reporting Person disclaims any continuing beneficial ownership interest in the Issuer.
• The Reporting Person has no present plans or proposals that relate to or would result in any of the actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D, other than the clean termination and resignation described above.

Industry Context

StockSavvy.ai notes that the termination of strategic agreements and executive departures are not uncommon in the technology sector, particularly for companies seeking to pivot or secure new partnerships. The outcome here suggests a re-evaluation of Visium Technologies' strategic direction.

Management Changes

Legal Proceedings

• The Mutual Release, Settlement, and Termination Agreement includes mutual general releases of all claims arising out of or relating to the LOI and related matters, indicating the resolution of potential disputes.

Stakeholder Impact

• Shareholders: May experience uncertainty regarding the company's future strategy and leadership following the executive departure and failed partnership.
• Employees: May face uncertainty about the company's direction and operational stability.
• Creditors/Suppliers: The impact is likely minimal unless the failed partnership significantly affects the company's financial stability.

Next Steps

• Visium Technologies will need to navigate its strategic path without the previously contemplated partnership with ConnexUS AI.
• The company will likely focus on its core operations and potentially seek new strategic alliances or business development opportunities.

Key Dates

Keywords

Visium Technologies, Schedule 13D, Cheddi Rai Bharrat, ConnexUS AI, Resignation, Termination Agreement, Officer, Director, COO, CTO, Beneficial Ownership, Exit Filing