Company: INVUP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011912
Chunk: 47

Company: Investview, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 47
---
 Competition and Consumer Protection (“UOKiK”)
as it has instituted formal proceedings against iGenius alleging that iGenius is not a bona fide financial education platform and is
instead operating a pyramid scheme that is focused more on the recruitment of new members and not the sale or use of the underlying products
or services being offered. Based on our analysis of the applicable legal standards, and the tracking of our sales within Poland in which
the predominant portion of our sales consist of membership sales driven by our members, we believe that the iGenius direct selling business
operating within Poland complies with all applicable legal standards and we disagree with any claims to the contrary. Despite our strong
belief in our position, should we not succeed in our defense of the matter, we could, among other things, become subject to financial
fines and penalties (limited to 3% of the annual revenue derived from sales in Poland); and/or be required to modify or suspend certain
or a material portion of our operations in Poland. In addition, should we not succeed on the merits of our defense of the matter, we
could be 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, and iGenius is cooperating with UOKiK’s investigation.

    26

INVESTVIEW, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Unaudited)

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,