Company: INVUP
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001193
Chunk: 1961

Company: Investview, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 1961
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) 
     (7,559,872)
  
    Net
    book value 
      
    $1,868,441  
    $6,536,823 

Total
depreciation expense for the years ended December 31, 2024 and 2023, was $3,875,614 and $4,450,466, respectively, all of which was recorded
in our general and administrative expenses on our statement of operations. During the year ended December 31, 2024, we disposed of assets
with a net book value of $180,223. During the year ended December 31, 2023, we sold assets with a total net book value of $26,731 for
cash of $23,278 and bitcoin worth $9,913, therefore recognized a gain on disposal of assets of $6,460. This gain was offset by loss on
disposal of assets with a net book value of $55,255.

Long-Lived
Assets – Cryptocurrencies & Intangible Assets

We
account for our cryptocurrencies and intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting
Standards Codification (“ASC”) Subtopic 350-30, General Intangibles Other Than Goodwill, and ASC Subtopic 360-10-05, Accounting
for the Impairment or Disposal of Long-Lived Assets. ASC Subtopic 350-30, which requires assets to be measured based on the fair value
of the consideration given or the fair value of the assets (or net assets) acquired, whichever is more clearly evident and, thus, more
reliably measurable. Our cryptocurrencies are deemed to have an indefinite useful life; therefore, amounts are not amortized, but rather
are assessed for impairment as further discussed in our impairment policy. Under ASC Subtopic 350-30 any intangible asset with a useful
life is required to be amortized over that life and the useful life is to be evaluated every reporting period to determine whether events
or circumstances warrant a revision to the remaining period of amortization. If the estimate of useful life is changed the remaining
carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Costs of internally developing,
maintaining, or restoring intangible assets are recognized as an expense when incurred.

We
hold cryptocurrency-denominated assets and include them in our consolidated balance sheet as other assets. The value of our cryptocurrencies