Company: INVUP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010230
Chunk: 48

Company: Investview, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 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.

NOTE 14 – INCOME TAXES

For the periods ended March 31, 2025, and March 31,
2024, the Company used a discrete effective tax rate method for recording income taxes, as compared to an estimated full year annual effective
tax rate method, as an estimate of the annual effective tax rate cannot be made.

Provision for Income taxes for the three months ended March 31, 2025 was
$10,000 resulting in an effective tax rate of (1.5%). Provision for Income taxes for the three months ended March 31, 2024 was $500,075,
resulting in an effective tax rate of 23.0%. The provision for income taxes was primarily impacted by pretax book income, permanent differences,
and by the change in valuation allowance on deferred tax assets.

NOTE 15 – SUBSEQUENT EVENTS

In accordance with ASC Topic 855, Subsequent Events,
we have evaluated subsequent events through the date of this filing and have determined that the following events require disclosure.

During the period subsequent to period end, according
to the stock repurchase program (