Company: INVUP
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001193
Chunk: 1001

Company: Investview, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 15
Chunk 1001
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 expose us to commercial claims of dissatisfied customers, regardless of the legal foundation associated therewith. The
possible assertion of those claims could have an adverse effect on our business, financial condition, and operating results.

    F-21

INVESTVIEW,
INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER
31, 2024 AND 2023

The
Company’s financial statements as of December 31, 2024, reflect a receivables balance of $2.53 million. Of that balance, $2.19
million represents receivables that arise out of credit card transactions generated by the Company’s iGenius subsidiary. The credit
card transactions that arise out of the ordinary course operations of the Company’s iGenius subsidiary are processed by the Company’s
credit card processors, in conjunction with their clearing banks. Over time, the balance of credit card collections being held by one
of our credit card processors and its clearing bank, which are legally supposed to be held for the benefit of the Company, subject to
coverage for chargebacks and other normal course collection issues, has increased to approximately $1.87 million, an amount that has
been generally confirmed by the credit card processor. As they had been unresponsive to our repeated demands for payment, claiming that
they were in the process of concluding their internal accounting of the amounts due and status of our accounts, in March 2024, the Company
instituted a lawsuit against this credit card processor and its clearing bank seeking, among other things, an accounting for and repayment
of the withheld funds. Notwithstanding, to date, we have been unable, through negotiations and through our lawsuit, to recover any amount
of the receivable balances owed to us as the credit card processor asserts, among others, that it continues to evaluate possible exposure
to chargebacks and other normal course collection issues. Recently, however, the Company’s application for a pre-judgment writ
of attachment against both the credit card processor and the clearing bank, has been granted. Although the Company’s collection
efforts will likely be enhanced by application of the pre-judgment writ of attachment, there can still be no assurances that the Company
will be able to collect some or all of the funds owed to it. Should the Company be unable to collect some or all of the funds owed, it
will be caused to incur a corollary bad debt expense of up to the uncollected amount which is currently