Company: INVUP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011912
Chunk: 45

Company: Investview, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 Program. There is, however, the risk that any failure of TPP to fulfill its obligations to our
customers could expose us to commercial claims of dissatisfied customers, regardless of the legal foundation associated therewith. The
possible assertion of those claims could have an adverse effect on our business, financial condition, and operating results.

To
respond to our concerns relative to the ability of TPP to satisfy its contractual
commitments, and in an effort to advance the interests of our customers, on March 28, 2025, we commenced an action against TPP , UIU Holdings
LLC, Jason R. Anderson, Jacob S. Anderson, and Schad E. Brannon (collectively, the “Defendants”), in the Court of Chancery
of the State of Delaware captioned Investview et al., v. UIU Holdings, LLC et al., seeking to, among other things, compel the Defendants
to fulfill the commitments that were made to the Company’s customers under the TPP Program. At present, we are in the process of
responding to certain procedural challenges that have been raised by the Defendants in response to the Complaint. To date, the court process
has not yet addressed the substance of our claim. Due to the uncertainties and procedural delays associated with matters of litigation,
and in recognition of the early-stage of the proceedings, we cannot assure that the outcome of the legal proceedings will be consistent
with our objectives.

    25

INVESTVIEW, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Unaudited)

We
have instituted a legal proceeding instituted to collect significant balance owed by credit card processor and clearing bank

Our
financial statements as of June 30, 2025 reflect a receivables balance of $2.53 million. Of that balance, $2.18 million represents receivables
that arise out of credit card transactions generated by our iGenius subsidiary. The credit card transactions that arise out of the ordinary
course operations of our iGenius subsidiary are handled by credit card processors, in conjunction with their clearing banks. Over time,
the balance of credit card collections being held by one of our credit card processors and its clearing bank, which are legally supposed
to be held for our benefit , subject to coverage for chargebacks and other normal course collection issues, has increased to approximately
$1.87 million, an amount that has been generally confirmed by the credit card