Visium Technologies, Inc. filed a Form 8-K on October 30, 2026, disclosing the October 26, 2026 resignation of Paul R. Taylor as Chairman of the Board, Chief Executive Officer, and director, and the subsequent designation of Mark B. Lucky as interim principal executive officer effective October 28, 2026.

Key Highlights

  • Immediate, unconditional resignation: Paul R. Taylor resigned as Chairman, CEO, and director on October 26, 2026, with his letter stating the resignation was "unconditional and effective immediately upon delivery."
  • Short tenure: According to the filing, Mr. Taylor had served in those positions since April 27, 2026.
  • Stated reason: Mr. Taylor's letter states he resigned because of a disagreement with the Company on matters relating to its operations, policies and practices, specifically concerning the evaluation of certain previously issued financial statements.
  • Interim CEO designated: Effective October 28, 2026, the Board designated Mark B. Lucky, the Company's Chief Financial Officer, Treasurer and Secretary, to also serve as interim principal executive officer.
  • Accrued salary owed: As of October 30, 2026, the Company owed Mr. Lucky approximately $124,800 of accrued and unpaid base salary, accruing at a rate of $400,000 per year.
  • Good Reason notice filed: On October 26, 2026, Mr. Lucky delivered a notice stating that Good Reason exists under his Executive Employment Agreement, citing the Company's failure to pay base salary when due and to maintain directors' and officers' liability insurance; the cure period has been extended to the later of November 25, 2026 and 30 days after the Special Committee is constituted, but not later than March 1, 2027.
  • Special Committee planned: The Company disclosed it intends to increase the Board to three members and elect two independent directors to form a Special Committee to oversee the matters described in the report.

Leadership Dispute at Visium Technologies Follows Accounting Disagreement

According to the filing, Paul R. Taylor delivered his resignation letter to Visium Technologies, Inc. (OTCID:VISM) by electronic mail received at 9:38 a.m. Eastern Time on October 26, 2026. The letter, subsequently corrected via a Notice of Correction delivered October 27, 2026, resigned him from all positions with the Company. The Notice of Correction states the corrections "change the dates only" and do not change any conclusion, any determination, or the time at which the resignation took effect.

The filing describes a dispute centered on eight accounting and capitalization matters that Mr. Taylor proposed as a joint determination to Mr. Lucky on October 23 and 24, 2026, requesting a response by 5:00 p.m. Eastern Time on October 25, 2026. The Company disclosed that Mr. Lucky delivered written responses to each proposed determination later on October 26, 2026, before the Board meeting Mr. Taylor had called for October 28, 2026. The filing states that "the Board did not authorize" the officer's certificate Mr. Taylor executed and delivered to the Company's independent registered public accounting firm, Fruci and Associates II, PLLC, and that "the Board has not concluded that any previously issued financial statements should no longer be relied upon."

Following Mr. Taylor's departure, Mr. Lucky became the Company's sole director. The filing states he has committed not to approve, as sole director, any matter in which he has a personal interest, any transaction with the Company's principal shareholders, or any issuance of preferred stock or other securities carrying voting control. The filing also notes that Mr. Lucky will receive no additional compensation for serving as interim principal executive officer, and that any decision by the Company on his Good Reason notice will be made by the independent directors once elected.

What Was Disclosed

The filing reported the immediate resignation of Chairman and CEO Paul R. Taylor on October 26, 2026, citing a disagreement over accounting matters, and the designation of CFO Mark B. Lucky as interim principal executive officer, along with details of accrued salary owed and a Good Reason notice under his employment agreement.