Company: INVUP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022223
Chunk: 85

Company: Investview, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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                                            by a member of our Board of Directors and entered into a convertible promissory note. The
                                            note is secured by collateral of the Company and its subsidiaries. The note bears interest
                                            at 38.5% per annum, made up of a 25% interest rate per annum and a facility fee of 13.5%
                                            per annum, payable monthly beginning February 1, 2021, and the principal is due and payable
                                            on April 27, 2030. Per the terms of the agreement, the note is convertible into common stock
                                            at a conversion price of $0.007 per share. At inception we recorded a beneficial conversion
                                            feature and debt discount of $1,300,000. During the nine months ended September 30, 2025,
                                            we recognized $102,691 of the debt discount into interest expense and expensed an additional
                                            $375,372 of interest expense on the note, all of which was repaid during the period.

[4]On March 22, 2021,
we entered into Securities Purchase Agreements to purchase 100% of the operating assets of SSA Technologies LLC (“SSA”),
an entity that owns and operates a FINRA-registered broker-dealer. SSA is controlled and partially owned by Joseph Cammarata, our former
Chief Executive Officer. (See NOTE 11). Commencing upon execution of the agreements and through the closing of the transactions, we agreed
to provide certain transition service arrangements to SSA. In connection with the transactions, we entered into a Working Capital Promissory
Note with SSA under which SSA was to have advanced to us up to $1,500,000 before the end of 2021; however, SSA only provided advances
of $1,200,000, to date. The note bears interest at the rate of 0.11% per annum. The note was due and payable by January 31, 2022; however,
has not yet been repaid as we consider our legal options in light of SSA’s failure to complete its funding obligations, and the
other damages we sustained as a result of the actions of Mr. Cammarata. During the nine months ended September 30, 2025, we recorded
interest expense of $990 on the note. The note was to have been secured by the pledge of 12,000,000 shares of our common stock; however,
it remains unsecured as the pledge of shares was not implemented