Company: INVUP
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001193
Chunk: 1190

Company: Investview, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 1190
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 by a third-party
supplier. The sale of cryptocurrency packages was discontinued during the year ended December 31, 2023.

During
2023, we recognized cryptocurrency 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
was to arrange for the third-parties to provide coin and protection (if applicable) to our customers and payment was received from our
customers at the time of order placement. All customers were given two weeks to request a refund, therefore we would record a customer
advance on our balance sheet upon receipt of payment. After the two weeks have passed from order placement, we request our third-party
supplier to deliver coin and protection (if applicable), at which time we recognize revenue and the amounts due to our supplier on our
books.

During 2024, we generated no revenue from the sale of cryptocurrency packages.

Mining
Equipment Repair Revenue

Through
our wholly owned subsidiary, SAFETek, LLC, prior to June 30, 2023, we repaired broken mining equipment for sale to third-party customers.
Our mining equipment repair business was discontinued during the quarter ended June 30, 2023.

Prior
to June 30, 2023, we recognized miner repair 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 was to deliver the promised goods to our customers.

Revenue
generated for the year ended December 31, 2024

Revenue
generated for the year ended December 31, 2024, was as follows:

SCHEDULE OF REVENUE GENERATED 

    Membership
    revenue  
    Mining
    revenue  
    Health
    and wellness product sales  
    Other
    Revenue  
    Total 
  
    Gross billings/receipts 
    $50,086,839  
    $5,186,606  
    $110,856  
    $23,404  
    $55,407,705 
  
    Refunds,
    incentives, credits, and chargebacks 
     (3,025,549) 
     -  
     (185) 
     -  
     (3,025,734)
  
    Amounts
    paid to supplier