Company: INVUP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010230
Chunk: 134

Company: Investview, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 that the focus of their inquiry was on certain “touting” of financial results by this particular distributor which we
concluded was unauthorized and in violation of our own internal policies and we terminated the distributor. As well, the AMF asserted
that iGenius acted in contravention of securities regulations that require registration to effectuate the sale of securities in Quebec,
by failing to register with the AMF while enabling its members to gain access to certain third-party “robotic” trading platforms,
even though iGenius, among others: (x) derives no direct financial benefit from these introductions; and (b) has no involvement with the
provision of services by the third-party to whom its members are introduced. Even though we believe that our iGenius business fully complies
with all applicable securities laws, due to the immaterial scope and scale of our operations in Quebec, Canada, we have engaged in settlement
discussions with the AMF in order to avoid a protracted and costly legal dispute. In addition to the termination of our distributor, the
preliminary settlement discussions have focused on the following three elements: the payment by iGenius of a CAD $15,000 fine; the implementation
by iGenius of the same type of geoblock that we implemented in Ontario and the admission by iGenius that by introducing its customers
to the third-party service providers offering the “robotic” trading platforms, it committed a violation of Canadian securities
law. Discussions between the AMF and iGenius are ongoing, and no formal agreement has been signed at this time. 

We have carefully
evaluated the basis for the claims asserted by the OSC and the AMF and we have concluded that our iGenius business unit operates generally
in compliance with applicable securities rules and regulations. Our completed and pending settlements, however, with the OSC and AMF could
expose us to similar claims from other securities regulators in the United States and in other foreign countries in which we operate.
Were such claims to be made, we could be exposed to having to defend our business model in protracted and costly legal disputes, or else
engage in similar settlements in which we agree to limit the geographic scope of our operations, either of which alternatives could have
an adverse effect on our liquidity and operations.

ITEM 2 – UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS

None.

ITEM 3 – DEFAULTS UPON SENIOR SECURITIES