Company: INVUP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010230
Chunk: 43

Company: Investview, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
 become exposed to similar claims from other European regulators, which itself could cause a cascading and similar
adverse impact on our operations in Europe, all of which could have a materially adverse impact on the Company. It is still too
early in the proceedings for us to draw a likely conclusion on the outcome of the matter.

Outstanding commitments associated with termination
of former Chief Executive Officer

Joseph Cammarata served as an officer and director
of the Company from December 2019 through his termination for cause on or about December 7, 2021. Mr. Cammarata was terminated following
the announcement of civil and criminal charges filed against him in connection with his involvement with a class action claims aggregator
unrelated to the Company. The Company was unaware of these outside business interests. Based on public reporting of the matter, the Company
believes that Mr. Cammarata was convicted of certain of these criminal charges and is presently incarcerated.

Prior to his termination, Mr. Cammarata and the Company
engaged in certain transactions as described below:

We issued a promissory note to Mr. Cammarata, which,
following certain modifications, on or about March 30, 2021, was restated in the principal amount of $1,550,000 (the “Cammarata
Note”). Although not originally convertible, as per the March 30, 2021, amendment, the Cammarata Note became convertible at $0.02
per share, Thereafter, effective September 21, 2021, and following another modification, the conversion price under the Cammarata Note
was reduced to $0.008 per share. During February 2022, we provided 30 days’ notice of our intent to retire and repay the Cammarata
Note in cash. Having not timely received a properly executed conversion notice within the proscribed period and citing certain breaches
of Mr. Cammarata’s fiduciary duty to us, as well as damages incurred by us arising from Mr. Cammarata’s then ongoing legal
proceedings, on or about March 31, 2022, we tendered to Mr. Cammarata cash payment in full for the Cammarata Note. As of the date of this
Report, Mr. Cammarata has not accepted our tender of the cash payment, and through his then counsel, has asserted his entitlement to exercise
his right to convert the Cammarata Note into our common shares. Although we believe that our