Company: INVUP
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001193
Chunk: 2010

Company: Investview, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 2010
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 for the impairment of our long-lived assets in accordance with ASC Subtopic 360-10, Property, Plant and Equipment (“ASC
360-10”). ASC 360-10 requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed
for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or when
the historical cost carrying value of an asset may no longer be appropriate. Events relating to recoverability may include significant
unfavorable changes in business conditions, recurring losses, or a forecasted inability to achieve break-even operating results over
an extended period.

We
evaluate the recoverability of long-lived assets based upon future net cash flows expected to result from the asset, including eventual
disposition. Should impairment in value be indicated, the carrying value of intangible assets will be adjusted and an impairment loss
is recorded equal to the difference between the asset’s carrying value and fair value or disposable value.

During
the year ended December 31, 2024, data processing equipment which is our bitcoin miners were impaired $1,771,891. The impairment was
due to the carrying value of our data processing equipment exceeding its fair value which was determined using the price that
similar equipment would sell for in the open market. During the year ended December 31, 2023, no impairment was recorded.

30

Revenue
Recognition

Membership
Revenue

Most
of our revenue is generated by membership sales and payment is received at the time of purchase. We recognize membership revenue in accordance
with ASC 606-10 where revenue is measured based on a consideration specified in a contract with a customer and recognized when we satisfy
the performance obligation specified in each contract. Our performance obligation is to provide our tools, products, and content over
a fixed membership period; therefore, we recognize revenue ratably over the membership period and deferred revenue is recorded for the
portion of the membership period subsequent to each reporting date. Additionally, we offer a designated trial period to first-time membership
customers, during which a full refund can be requested if a customer does not wish to continue with the membership. Revenues are deferred
during the trial period as collection is not probable until that time has passed. Revenues are presented net of refunds, sales incentives,
credits, and known and estimated credit card chargebacks. As of December 31, 2024 and 2023, our deferred revenues for membership revenue
were $1,905,734