Company: INVUP
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001193
Chunk: 247

Company: Investview, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 247
---
MBER
31, 2024 AND 2023

NOTE
12 – ACQUISITION

On
October 11, 2024, Renu Laboratories LLC (a wholly owned subsidiary of myLife Wellness Company which is a wholly owned subsidiary of Investview,
Inc.) closed on the purchase of the business and assets of Renu Labs, Inc. (“Seller”), along with a 100% ownership interest
in Goldman’s Pharmaceuticals LLC and a 50% ownership interest in ELRT Technologies, LLC (together known as “Renu Labs”)
from Gregg Hanson. Renu Labs is a manufacturer of proprietary and other health, beauty and wellness products. The total purchase price
of Renu Labs was $1,780,000.

The
transaction was accounted for as a business combination using the acquisition method of accounting in accordance with the ASC Topic 805.
The following table summarizes the purchase accounting for the fair value of the assets acquired and liabilities assumed at the date
of the acquisition:

 SCHEDULE
OF FAIR VALUE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED AT DATE OF ACQUISITION

    Cash 
    $1,495 
  
    Customer deposits –
    intercompany 
     7,360 
  
    Domain names [1] 
     40,310 
  
    Raw materials 
     149,260 
  
    Manufacturing
    equipment 
     717,020 
  
    Total assets acquired 
    $915,445 

    Accounts payable 
    $323 
  
    Customer
    deposits 
     572,386 
  
    Total liabilities assumed 
    $572,709 

    Net
    assets acquired 
     342,736 

    Consideration [2] 
    $1,207,614 
  
    Fair
    value of noncontrolling interest in ELRT Technologies, LLC 
     8,823 
  
     Total 
     1,216,437 

    Goodwill 
    $873,701 

[1] Domain names were deemed to have an indefinite life; therefore, amounts
are not amortized, but rather are assessed for impairment as further discussed in our impairment policy.

[2]This amount is
equal to the $1,780,000
purchase price less $572,386
of customer deposits collected by Renu Labs,
Inc. prior to acquisition.

Renu
Laboratories LLC recorded revenue of $110,671 and net loss