SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                               -------------------

                                   FORM 10-QSB
                               ------------------

(Mark One)

[X]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934 FOR THE QUARTERLY PERIOD ENDED JULY 31, 2003


[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _________.

Commission File No. 00-22661

                                   INVU, INC.
          (Exact name of small business issuer as specified in charter)

          Colorado                                        84-1135638
--------------------------------------------------------------------------------
(State or other jurisdiction                   (IRS Employer Identification No.)
   of incorporation)

The Beren, Blisworth Hill Farm
Stoke Road
Blisworth, Northamptonshire                                 NN7 3DB
--------------------------------------------------------------------------------
(Address of principal                                    (Postal Code)
 executive offices)

         Issuer's telephone number, including area code: (01604) 859893
                                                         --------------


--------------------------------------------------------------------------------
              (Former Name, Former Address and Former Fiscal Year,
                          if Changed Since Last Report)

Indicate by check mark whether the issuer (1) has filed all reports  required to
be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.
                                        YES    X        NO
                                            -------        -------

As of September 12, 2003 there were  30,386,539  shares of the common stock,  no
par value, of the registrant issued and outstanding.

Transitional Small Business Disclosure Format (check one)

YES               NO       X
     ----------       -------------


<PAGE>

                                                        INVU, INC.

                                                       July 31, 2003

                                                           INDEX
<TABLE>
<CAPTION>

                                                                                                                  Page No.
<S>      <C>                                                                                                           <C>


PART I.  FINANCIAL INFORMATION.........................................................................................F-1

         Item 1.  Financial Statements.................................................................................F-1

                  Consolidated Balance Sheets as of July 31, 2003......................................................F-2

                  Consolidated Statements of Operations................................................................F-3

                  Consolidated Statements of Deficit in Stockholders' Equity...........................................F-4

                  Consolidated Statements of Cash Flows................................................................F-5

                  Notes to Financial Statements........................................................................F-6

         Item 2.  Management's Discussion and Analysis or Plan of Operation..............................................1

         Item 3.  Controls and Procedures................................................................................8

PART II. OTHER INFORMATION...............................................................................................9

         Item 1.  Legal Proceedings......................................................................................9
         Item 2.  Changes in Securities..................................................................................9
         Item 3.  Default Upon Senior Securities.........................................................................9
         Item 4.  Submission of Matters to a Vote of Security Holders....................................................9
         Item 5.  Other Information......................................................................................9
         Item 6.  Exhibits and Reports on Form 8-K......................................................................10

SIGNATURES.............................................................................................................S-1
EXHIBIT INDEX..........................................................................................................E-1


</TABLE>


<PAGE>



CONSOLIDATED FINANCIAL STATEMENTS

INVU, INC. AND SUBSIDIARIES

JULY 31, 2003






















<PAGE>


INVU, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS


--------------------------------------------------------------------------------

                                                     July 31,    January 31,
                                                         2003           2003
                                                  (unaudited)
                                                            $              $

ASSETS

Current assets
Cash and cash equivalents                               2,389         57,214
Accounts receivable:
  Trade, net                                        1,230,045      1,559,094
  VAT recoverable and other                                 -            916
Inventories                                           231,302        123,596
Prepaid expenses                                       68,301         67,075
                                                  ------------   ------------
Total current assets                                1,532,037      1,807,895
                                                  ------------   ------------
Equipment, furniture and fixtures
Computer equipment                                    280,493        283,430
Vehicles                                               84,172        277,098
Office furniture and fixtures                         120,427        121,037
                                                  ------------   ------------
                                                      485,092        681,565

Less accumulated depreciation                         264,779        395,940
                                                  ------------   ------------
                                                      220,313        285,625
                                                  ------------   ------------
Intangible assets, net                                 53,584         82,185
Goodwill                                            1,331,136      1,361,113
                                                  ------------   ------------
                                                    3,137,070      3,536,818
                                                  ============   ============











The accompanying notes are an integral part of these financial statements.


                                      F-1

<PAGE>


INVU, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------

                                                                                      July 31,    January 31,
                                                                                          2003           2003
                                                                                   (unaudited)
                                                                                             $              $
<S>                                                                                 <C>            <C>

LIABILITIES AND DEFICIT IN STOCKHOLDERS' EQUITY

Current liabilities
Short-term credit facility                                                             639,414        695,213
Current maturities of long-term obligations                                          4,050,880      3,643,239
Accounts payable                                                                       606,728        496,117
Accrued liabilities                                                                  1,080,197      1,187,452
Deferred revenue                                                                       461,793        380,009
Taxation liabilities                                                                 2,025,254      1,931,560
                                                                                  -------------   ------------
Total current liabilities                                                            8,864,266      8,333,590
                                                                                  -------------   ------------
Long-term obligations, less current maturities                                       1,538,298      1,811,922

Deficit in stockholders' equity
Preferred stock, no par value
Authorised - 20,000,000 shares; nil shares issued and outstanding                            -              -
Common stock, no par value
Authorised - 100,000,000 shares; issued and outstanding - 30,386,539                 1,746,223      1,746,223
Accumulated deficit                                                                 (8,606,839)    (8,115,118)
Accumulated other comprehensive income                                                (404,878)      (239,799)
                                                                                  -------------   ------------
                                                                                    (7,265,494)    (6,608,694)
                                                                                  -------------   ------------
                                                                                     3,137,070      3,536,818
                                                                                  =============   ============

</TABLE>










The accompanying notes are an integral part of these financial statements.


                                      F-2
<PAGE>


INVU, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------

                                                 For the three months ended           For the six months ended
                                                 July 31,          July 31,         July 31,         July 31,
                                                     2003              2002             2003             2002
                                              (unaudited)       (unaudited)      (unaudited)      (unaudited)
                                                        $                 $                $                $
<S>                                            <C>               <C>              <C>              <C>

Revenues                                          645,641           601,255        1,261,810        1,013,606

Expenses:
Production cost                                    49,122            49,794           89,287          106,284
Selling and distribution cost                     309,588           238,836          596,307          440,745
Research and development cost                     184,987           173,865          375,476          351,056
Administrative costs                              342,166           327,888          526,493          576,708
                                               -----------       -----------     ------------     ------------
Total operating expenses                          885,863           790,383        1,587,563        1,474,793
                                               -----------       -----------     ------------     ------------
Operating loss                                   (240,222)         (189,128)        (325,753)        (461,187)

Other income (expense)
Interest, net                                    (102,660)         (118,101)        (165,968)        (224,202)
                                               -----------       -----------     ------------     ------------
Total other expense                              (102,660)         (118,101)        (165,968)        (224,202)
                                               -----------       -----------     ------------     ------------
Loss before income taxes                         (342,882)         (307,229)        (491,721)        (685,389)

Income taxes                                            -                 -                -                -
                                               -----------       -----------     ------------     ------------
Net loss                                         (342,882)         (307,229)        (491,721)        (685,389)
                                               -----------       -----------     ------------     ------------
Weighted average shares outstanding:

Basic and Diluted                              30,386,539        30,386,539       30,386,539       30,386,539
                                               ===========       ===========     ============     ============
Net loss per common share

Basic and Diluted                                   (0.01)            (0.01)           (0.02)           (0.02)
                                               ===========       ===========     ============     ============


</TABLE>




The accompanying notes are an integral part of these financial statements.


                                      F-3
<PAGE>


INVU, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF DEFICIT IN STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>


------------------------------------------------------------------------------------------------------------------------------------
                                                                                       Accumulated
                                                                                             other
                                                 Common stock          Accumulated   comprehensive                    Comprehensive
                                              Shares       Amount         deficit          income          Total              loss
                                                                $               $               $              $                 $
<S>                                       <C>           <C>            <C>               <C>          <C>                 <C>

Balance at January 31, 2003               30,386,539    1,746,223      (8,115,118)       (239,799)    (6,608,694)

Comprehensive income (unaudited):
  Foreign currency translation
   adjustment (unaudited)                          -            -               -        (165,079)      (165,079)         (165,079)
  Net loss for the period (unaudited)              -            -        (491,721)              -       (491,721)         (491,721)
                                                                                                                     ---------------
Total comprehensive income (unaudited)                                                                                    (656,800)
                                                                                                                     ===============
                                         ------------  -----------    ------------    ------------   ------------
Balance at July 31, 2003 (unaudited)      30,386,539    1,746,223      (8,606,839)       (404,878)    (7,265,494)
                                         ============  ===========    ============    ============   ============


</TABLE>







The accompanying notes are an integral part of these financial statements.


                                      F-4
<PAGE>


INVU, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS


<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------------------------
                                                                         For the six months ended
                                                                      July 31, 2003     July 31, 2002
                                                                        (unaudited)        (unaudited)
                                                                                  $                 $
<S>                                                                   <C>               <C>

Net cash flows used in operating activities
  Net loss during the period                                          (491,721)         (685,389)
  Adjustments to reconcile net loss to net cash used
  in operating activities:
    Depreciation and amortization                                       83,683            93,527
    Profit on disposal of assets                                       (10,611)                -
Changes in:
    Accounts receivable                                                295,737           (27,447)
    Inventories                                                       (110,475)          (44,066)
    Prepaid expenses                                                    (2,705)           (1,284)
    Accounts payable                                                   121,591            20,469
    Accrued liabilities                                                (92,346)          126,048
                                                                      ---------        ----------
Net cash used in operating activities                                 (206,847)         (518,142)
                                                                      ---------        ----------
Cash flows used in investing activities:
  Acquisitions of property and equipment                               (42,399)          (80,156)
  Proceeds from sale of property and equipment                          55,173                 -
                                                                      ---------        ----------
Net cash provided by investing activities                               12,774           (80,156)
                                                                      ---------        ----------
Cash flows provided by financing activities:
  Short-term credit facility                                           (40,506)          363,548
  Borrowings received from notes payable                               355,252           277,198
  Repayment of borrowings                                              (93,276)          (24,119)
  Principal payments on capital lease                                  (85,021)          (23,190)
                                                                      ---------        ----------
Net cash provided by financing activities                              136,449           593,437
                                                                      ---------        ----------
Effect of exchange rate changes on cash                                  2,799             4,861
                                                                      ---------        ----------
Net decrease in cash                                                   (54,825)                -
Cash at beginning of period                                             57,214                 -
                                                                      ---------        ----------
Cash at end of period                                                    2,389                 -
                                                                      =========        ==========
Supplemental  disclosure of cash flow  information:
Cash paid during the period for:
  Interest                                                              81,000            76,000


========================================================================================================

</TABLE>





The accompanying notes are an integral part of these financial statements.

                                      F-5
<PAGE>

INVU, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


The accompanying  financial statements have been prepared without audit pursuant
to the rules and regulations of the Securities and Exchange Commission.  Certain
information and footnote  disclosures  normally included in financial statements
prepared in accordance  with  accounting  principles  generally  accepted in the
United States of America have been  condensed or omitted  pursuant to such rules
and regulations.  These statements  include all adjustments,  consisting only of
normal  recurring  accruals,  considered  necessary for a fair  presentation  of
financial position and results of operations.  The financial statements included
herein should be read in  conjunction  with the financial  statements  and notes
thereto  included in the latest  annual  report on Form  10-KSB.  The results of
operations  for the three month and six month period ended July 31, 2003 are not
necessarily indicative of the results to be expected for the full year.

                          NOTE A - COMPANY DESCRIPTION

INVU, Inc. (the Company) is a holding company which operates one subsidiary INVU
Plc, which is a holding  company for two  subsidiaries of its own, INVU Services
(Services) and INVU International Holdings Limited (Holdings).  Holdings has one
subsidiary of its own, INVU  Netherlands BV (formerly  Corsham  Holding BV). The
Company was incorporated under the laws of the State of Colorado,  United States
of America,  in February  1997.  INVU Plc,  Services and Holdings are  companies
incorporated  under  English Law. The Company  operates in one industry  segment
which includes developing and selling software for electronic management of many
types of information  and documents such as forms,  correspondence,  literature,
faxes, technical drawings and electronic files. Services is the sales, marketing
and  trading  company  for the UK  market.  INVU  Netherlands  BV is the  sales,
marketing  and trading  company for the Benelux  market and holds the licence to
the Benelux  intellectual  property rights to the INVU software.  Holdings holds
the intellectual property rights to the INVU software.

                             NOTE B - GOING CONCERN

The  financial  statements  have been  prepared on a going  concern  basis which
assumes that the Company can meet its financial  obligations as they fall due in
the ordinary course of business.  The Company's  liabilities exceeded its assets
by $7,265,494 at July 31, 2003.  Operations to date have been funded principally
by equity capital and borrowings. However, the Company needs to raise sufficient
financing  to  meet  current  obligations  and  to  fund  operations  until  the
operations become  profitable.  The Company is in the process of negotiating the
necessary additional financing to fund its operations.  The Company's ability to
continue  to develop  its  operations  depends on its  ability to raise  further
financing.  The financial  statements do not include any adjustments  that might
result from the outcome of this uncertainty.

                       NOTE C - SHORT-TERM CREDIT FACILITY

At July 31, 2003 the Company had a $321,500 (or  (pound)200,000) (at January 31,
2003 the amount was  $328,470  (or  (pound)200,000)),  5.50%  short-term  credit
facility  with an English bank.  The credit  facility is  collateralised  by all
assets of the  Company,  a corporate  guarantee  given by  Vertical  Investments
Limited and a guarantee given by David Morgan, a director of the Company, in the
amount of $160,750.  The amount drawn  against the facility at July 31, 2003 was
$237,539  ((pound)147,769)  (January 31, 2003  $284,288  ((pound)172,956)).  The
amount  drawn is  repayable  on  demand at the  bank's  discretion.  The  credit
facility is due for renewal on February 10, 2004.

The Company  also has a $401,875  ((pound)250,000)  (January  31, 2003  $410,925
((pound)250,000)),  6.50%  short-term  credit facility with an English bank. The
credit facility is  collateralised  by all assets of the Company and a corporate
guarantee given by Vertical  Investments  Limited.  The amount drawn against the
facility  at July 31,  2003 was  $401,875  ((pound)250,000)  (January  31,  2003
$410,925 ((pound)250,000)).  The amount drawn is payable on demand at the bank's
discretion. The credit facility is due for renewal in January 2004.


                                      F-6
<PAGE>

INVU, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

                         NOTE D - LONG-TERM OBLIGATIONS


Long-term  obligations  at July 31, 2003 and January  31,  2003,  consist of the
following:
<TABLE>
<CAPTION>

                                                                                      July 31,    January 31,
                                                                                          2003           2003
                                                                                   (unaudited)
                                                                                             $              $
<S>                                                                                  <C>            <C>

Unsecured loan from an individual, no stated maturity date; bearing interest
of $4,794 per month ((pound)3,000)                                                     790,006        795,637

Unsecured loan from Vertical Investments Limited, no stated maturity date;
interest rate under negotiation                                                        343,203              -

4% above Libor rate (Libor rate was 3.50% and 3.97% at July 31, 2003 and January
31,  2003  respectively)  notes  payable to an English  bank,  monthly  payments
aggregating to (pound)1,333, maturing in June 2004, collateralised by all assets
of  the  Company,   unlimited   multilateral   guarantees   between   subsidiary
undertakings and a corporate guarantee given by Vertical  Investments Limited; a
quarterly loan guarantee premium of 1.5% per annum is payable on 85%
of the outstanding balance                                                              27,863         41,640

2% above base rate  (base  rate was 3.50% and 3.75% at July 31, 2003 and January
31, 2003  respectively)  notes payable to an English bank, 4 monthly payments of
(pound)25,000   each   starting  in  June  2003  and  10  monthly   payments  of
(pound)50,000 each starting in October 2003, collateralised by all assets of the
Company, unlimited multilateral guarantees between subsidiary undertakings,
a corporate guarantee given by Vertical Investments Limited and a corporate
guarantee given by David Morgan in the amount of $160,750                              884,125        986,220

Convertible A Note 1999-2002, with interest at 6%; interest due in
arrears biannually on January 1 and July 1                                             600,000        600,000

Convertible B Note 1999-2002, bearing interest of 8% per annum for the first six
months, 9% per annum for the next six months and 10% per annum
thereafter; interest due in arrears biannually on January 1 and July 1                 400,000        400,000

Convertible loans 2001-2003 (i) with interest rate per annum of 1.5% above
UK bank base rates                                                                     159,000        159,000

Loan notes 2001-2005 (ii) with interest rate per annum of 7%                         1,000,000      1,000,000

Loan notes 2001-2005 (iii) with interest rate per annum of 12%                         500,000        500,000

Convertible loan 2001-2003 (iv) with interest rate per annum of 1.5% above             300,000        300,000
UK bank base rate

Convertible loan 2001-2005 (v) with interest rate per annum of 12%                     550,000        550,000

Capital leases for vehicles, interest ranging from 10.2% - 16.9% with
maturities through 2005                                                                 34,981        122,664
                                                                                  ------------    -----------
                                                                                     5,589,178      5,455,161
Less current maturities                                                              4,050,880      3,643,239
                                                                                  ------------    -----------
                                                                                     1,538,298      1,811,922
                                                                                  ============    ===========

</TABLE>

                                      F-7
<PAGE>


Scheduled maturities of long-term obligation are as follows:

Year ending July 31,                                                $

2004                                                        4,050,880
2005                                                          748,292
2006                                                                -
2007                                                                -
2008                                                                -
Thereafter                                                    790,006

                                                       --------------
                                                            5,589,178
                                                       ==============

1)       Convertible debentures

The  A  and  B  Convertible  Notes  1999-2002  are  held  by  Tom  Maxfield,   a
non-executive  director  of the  Company,  Vertical  Investments  Limited  and a
related party of Daniel Goldman (the  "Investors").  They are  convertible  into
common shares at the rate of one common share for every  US$0.65 of  outstanding
principal  Note converted for the A Notes and one common share for every US$0.50
of outstanding  principal Note converted for the B Notes.  Conversion  will take
place:

i)       immediately prior to a Public Offering

ii)      at the option of the  Investors for the B Notes and  automatically  for
         the A Notes,  upon new equity  capital  resulting  in  proceeds  to the
         Company of at least $4,000,000

iii)     at the option of the Investors giving 30 days notice to the Company.

Interest  amounting to $292,767  has been accrued to July 31, 2003  (January 31,
2003 $281,086) in respect of the A and B Convertible Notes 1999-2002.

Any  outstanding  principal  not  converted may be redeemed at par plus interest
upon receipt of 30 days  written  notice from the Company or the  Investors.  At
July 31,  2003,  the  outstanding  principal  could  have  been  converted  into
1,723,077 common shares.

In  consideration  of the Investors  advancing an aggregate of  $1,000,000,  the
Company caused  Montague  Limited,  the principal  shareholder,  to transfer and
register in the name of the Investors,  225,000 shares of Common Stock of no par
value.

The  convertible  debentures  are secured by a second  charge over the Company's
assets.


                                      F-8
<PAGE>

INVU, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

2) Loan notes and convertible loan notes

         All of the  investors  for the loan  notes and  convertible  loan notes
         detailed  below  are held by  Vertical  Investments  Limited  and other
         related parties of Daniel Goldman.  Each description  below corresponds
         to the same romanette listed on the first table of Note D.

i)       The  convertible  loan notes are  repayable  at any time within 2 years
         from the date of issue.  They are convertible  into common stock at the
         rate of one share for every US $0.25 of  outstanding  principal  at any
         time within the 2 years from the date of issue after 45 days notice has
         been given to the Company.

ii)      The loan notes are  repayable on August 26, 2005.  At any time from May
         1, 2002 until August 26, 2005, the investor may demand repayment of the
         entire loan or any part  thereof at any time after three days notice to
         the Company.  If the Company  does not timely repay such amounts  after
         receiving  notice,  the investor may convert the repayment  amount into
         shares of the Company's  common stock at a conversion  price of $0.2175
         per share or convert the repayment  amount into shares of the Company's
         subsidiaries at the equivalent per share conversion  price. The loan is
         secured by a second charge over the Company's assets.

iii)     The loan notes are  repayable by June 17, 2005. At any time from May 1,
         2002 until June 17, 2005, the investor may demand repayment of $475,000
         or any part thereof at any time after three days notice to the Company.
         If the  Company  does not timely  repay such  amounts  after  receiving
         notice,  the investor may convert the  repayment  amount into shares of
         the Company's  common stock at a conversion price of $0.13 per share or
         convert the repayment amount into shares of the Company's  subsidiaries
         at the equivalent per share conversion  price. The remaining $25,000 is
         repayable on June 17, 2005. The loan is secured by a second charge over
         the Company's assets.

iv)      $250,000 of the  convertible  loan notes are  repayable by May 25, 2003
         and the  remaining  $50,000 are  repayable by July 2, 2003. At any time
         from May 1, 2002 until July 2,  2003,  the  investor  may  convert  any
         amount of the  principal,  at any time after  three days  notice to the
         Company,  into shares of the  Company's  common  stock at a  conversion
         price of $0.25 per share or convert  any amount of the  principal  into
         shares  of the  Company's  subsidiaries  at the  equivalent  per  share
         conversion  price.  The loan is  secured  by a second  charge  over the
         Company's assets.

v)       The  convertible  loan notes are  repayable by May 1, 2005. At any time
         from May 1, 2002 until May 1, 2005, the investor may convert any amount
         of the  principal at any time,  after three days notice to the Company,
         into shares of the  Company's  common  stock at a  conversion  price of
         $0.13 per share or convert any amount of the  principal  into shares of
         the  Company's  subsidiaries  at the  equivalent  per share  conversion
         price.  The loan is  secured  by a  second  charge  over the  Company's
         assets.

The loan notes and  convertible  loan notes  referred to in i) and iv) above are
due for  repayment.  No demand for  repayment has been made by the investors and
the loans are in the process of being restructured.


                                      F-9
<PAGE>


INVU, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

The investor in the loan notes and  convertible  loan notes referred to in ii) -
v) above was granted two options in the common stock of the  Company.  The first
option  is for  2,700,000  shares  of the  Company's  common  stock  that may be
exercised  at any time from March 1, 2002 until  March 1, 2006 after  three days
notice for any amount of shares up to  2,700,000  at an exercise  price of $0.25
per share.

The second option is for 450,000  shares of the Company's  common stock that may
be exercised at any time from March 1, 2002 until March 1, 2006 after three days
notice for any amount of shares up to 450,000 at an exercise price of $0.875 per
share.

On the date of issue of all of the convertible  loan notes,  the conversion rate
was in  excess  of the  market  price of the  common  stock  and  therefore,  no
beneficial  conversion  feature  expense  has  been  recorded  in the  financial
statements.

3)       Capital leases

The Company leases vehicles under noncancellable capitalized leases.

                                                    July 31,     January 31,
                                                        2003            2003
                                                 (unaudited)
                                                           $               $

Vehicles                                              84,172         277,098
Less accumulated depreciation                        (56,242)       (190,840)
                                                -------------    ------------
                                                      27,930          86,258
                                                =============    ============

Scheduled maturities of minimum lease payments are as follows:

Period ending July 31,                                                     $

2004                                                                  26,792
2005                                                                  10,766
                                                               -------------
                                                                      37,558

Less amount representing interest                                      2,577

                                                               -------------
Present value of net minimum lease payments                           34,981
                                                               =============

The  scheduled  net  minimum  lease  payments to  maturity  are  included in the
long-term obligation table above.


                                      F-10
<PAGE>


INVU, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

                       NOTE E - RELATED PARTY TRANSACTIONS

The Company made purchases  during the year under normal  commercial  terms from
Impakt Software Limited, a company owned by Paul O'Sullivan,  who is a potential
beneficiary  of a  discretionary  trust,  the res of which  includes  beneficial
ownership of the Company's  common  stock.  The  percentage of Mr.  O'Sullivan's
interest  in the assets of the trust has not been  determined.  Total  purchases
amounted to $nil  (January 31, 2003 $75,001) and the balance owed by the Company
at July 31, 2003 was $1,228 (January 31, 2003 $1,256).

During the  quarter  ended July 31,  2003,  the  company  paid Peter  Fraser,  a
minority  shareholder  of the  company,  $nil  (January  31, 2003  $63,998)  for
advisory services relating to the acquisition of Corsham Holding BV.

The Company made  purchases  during the fiscal year ended January 31, 2003 under
normal commercial terms from Vertical  Investments  Limited,  a company in which
Daniel Goldman had an interest until  December,  2002. Mr. Goldman is a minority
shareholder and  non-executive  director of the Company.  A related party of Mr.
Goldman is a beneficiary of a trust that  indirectly  owns Vertical  Investments
Limited.  Total purchases  amounted to $nil (January 31, 2003:  $13,692) and the
balance  owed by the  company at July 31, 2003 was $14,402  (January  31,  2003:
$14,726).

                          NOTE F - RECENT PRONOUNCEMENT

The FASB issued SFAS 143,  Accounting for Asset  Retirement  Obligations in June
2001.  SFAS 143 addresses  financial  accounting  and reporting for  obligations
associated with the retirement of tangible  long-lived assets and the associated
asset retirement  costs.  SFAS 143 is effective for fiscal years beginning after
June 15, 2002 and was adopted by the Company on February 1, 2003.  The  adoption
of SFAS 143 did have an impact on the Company's  financial  position and results
of operations.

In June, 2002, the FASB issued  Statement 146,  "Accounting for Costs Associated
with  Exit or  Disposal  Activities".  SFAS  146  replaces  previous  accounting
guidance  provided by EITF 94-3,  "Liability  Recognition  for Certain  Employee
Termination  Benefits  and Other  Costs to Exit an Activity  (including  Certain
Costs Incurred in a  Restructuring)",  and requires companies to recognize costs
associated  with Exit or disposal  activities  only when a  liability  for these
costs are incurred  (subsequent  to a  commitment  to a plan) rather than at the
date of a commitment to an exit or disposal  plan.  Examples of costs covered by
the Statement  include lease  termination  costs and certain employee  severance
costs that are associated with a restructuring,  discontinued operations,  plant
closings,  or other  initiated  after  December  31, 2002.  Although  management
believes  the  adoption  of SFAS  146 will not  have a  material  impact  on the
Company's financial statements,  adoption of the Statement will result in timing
differences in the recognition and measurement of expenses  relating to exit and
disposal activities.

In December 2002, the FASB issued Statement No. 148, "Accounting for Stock-Based
Compensation-Transition  and  Disclosure an amendment of FASB Statement No. 123"
("SFAS  148").  SFAS  148  amends  FASB  Statement  No.  123,   "Accounting  for
Stock-Based  Compensation",  to provide alternative methods of transition for an
entity that voluntarily changes to the fair value based method of accounting for
stock-based employee compensation and to require prominent disclosures about the
effects on reported net income of an entity's  accounting  policy decisions with
respect to stock-based employee  compensation.  SFAS 148 also amends APB Opinion
No. 28,  "Interim  Financial  Reporting",  to require  disclosures  about  those
effects in interim financial information.

The  Company  currently  intends  to  continue  to account  for its  stock-based
compensation  awards to employees and directors under the accounting  prescribed
by  Accounting  Principles  Board  Opinion No. 25.

In November 2002, the Emerging Issues Task Force ("EITF") reached a consensus
opinion of EITF 00-21, "Revenue Arrangements with Multiple Deliverables". That
consensus provides that revenue arrangements with multiple deliverables should
be divided into separate units of accounting if certain criteria are met. The
consideration of the arrangement should be allocated to the separate units of
accounting based on their relative fair values, with different provisions if the
fair value is contingent on delivery of specified items or performance
conditions. Applicable revenue criteria should be considered separately for each
separate unit of accounting. EITF 00-21 is effective for revenue arrangements
entered into in fiscal periods beginning after June 15, 2003. Entities may elect
to report the change as a cumulative effect adjustment in accordance with APB
Opinion 20, "Accounting Changes." The Company is currently evaluating the effect
of the adoption of EITF 00-21 on its financial position and results of
operations.

                                      F-11
<PAGE>


INVU, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------


In  December  2002,  the FASB  issued  Interpretation  45 (FIN 45),  Guarantor's
Accounting  and  Disclosure  Requirements  for  Guarantees,  Including  Indirect
Guarantees  of  Indebtedness  of  Others.   For  a  guarantee  subject  to  FASB
Interpretation 45, a guarantor is required to:

-        measure and recognize the fair value of the guarantee at inception (for
         many  guarantees,  fair value will be determined  using a present value
         method); and

-        provide new  disclosures  regarding the nature of any  guarantees,  the
         maximum  potential  amount of future  guarantee  payments,  the current
         carrying  amount  of the  guarantee  liability,  and the  nature of any
         recourse  provisions  or  assets  held  as  collateral  that  could  be
         liquidated  and allow the  guarantor to recover all or a portion of its
         payments in the event guarantee payments are required.

The  disclosure  requirement of this  Interpretation  is effective for financial
statements  for fiscal years  ending after  December 15, 2002 and did not have a
material effect on the Company's financial statements.

In January 2003, the FASB issued FASB  Interpretation No. 46,  "Consolidation of
Variable  Interest  Entities"  ("FIN 46").  FIN 46 clarifies the  application of
Accounting  Research Bulletin No. 51,  "Consolidated  Financial  Statements" and
provides  guidance  on the  identification  of  entities  for which  control  is
achieved  through  means other than through  voting rights  ("variable  interest
entities" or "VIE's") and how to determine  when and which  business  enterprise
should  consolidate  the VIE.  This new model for  consolidation  applies  to an
entity which either (1) the equity  investors (if any) do not have a controlling
financial  interest  or (2) the equity  investment  at risk is  insufficient  to
finance that  entity's  activities  without  receiving  additional  subordinated
financial support from other parties.  The provisions of this interpretation are
immediately  effective for VIE's formed after January 31, 2003. For VIE's formed
prior to January 31, 2003,  the  provision of this  interpretation  apply to the
first fiscal year or interim period beginning after June 15, 2003. Management is
currently  reviewing the application of FIN 46 but does not believe that it will
have any impact on the Company's results of operations or financial condition.

In April  2003,  the  FASB  issued  SFAS  149,  Amendment  of  Statement  133 on
Derivative Instruments and Hedging Activities. This statement amends SFAS 133 to
provide  clarification  on the financial  accounting and reporting of derivative
instruments  and  hedging   activities  and  requires   contracts  with  similar
characteristics  to be  accounted  for on a  comparable  basis.  INVU  is in the
process of assessing  the effect of SFAS 149 but does not expect the adoption of
it to  have  a  material  effect  on  its  financial  condition  or  results  of
operations.


                                      F-12
<PAGE>

INVU, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

In May  2003,  the FASB  issued  SFAS  150,  Accounting  for  Certain  Financial
Instruments  with  Characteristics  of both  Liabilities  and  Equity.  SFAS 150
establishes  standards  on  the  classification  and  measurement  of  financial
instruments with characteristics of both liabilities and equity. SFAS 150 became
effective for financial instruments entered into or modified after May 31, 2003.
INVU is in the process of assessing the effect of SFAS 150 on its future finance
requirements and does not expect the implementation of the pronouncement to have
a material effect on its financial condition or results of operations.

                          NOTE G - CONTINGENT LIABILITY

During the year ended  January 31,  2003,  there was a transfer of  intellectual
property  between  group  companies  at a value of  $38,754,351.  This  transfer
eliminated on  consolidation.  The Company has received  independent  tax advice
that the  transfers  referred to above will not result in a tax liability but no
assurance can be given that the applicable tax  authorities  will reach the same
conclusion in the event of an audit or other regulatory  inquiry relating to the
transaction.

                           NOTE H - SUBSEQUENT EVENTS

During August 2003 the Company increased its 6.50% short term credit facility by
$80,375 ((pound)50,000) to $482,250 ((pound)300,000).



                                      F-13
<PAGE>


Item 2.  Management's Discussion and Analysis or Plan of Operation

         The  following   description  of   "Management's   Plan  of  Operation"
constitutes  forward-looking  statements  for purposes of the  Securities Act of
1933, as amended (the  "Securities  Act"),  and the  Securities  Exchange Act of
1934, as amended (the  "Exchange  Act"),  and as such involves known and unknown
risks,  uncertainties  and other  factors  which may cause the  actual  results,
performance  or  achievements  of  INVU,  Inc.,  a  Colorado   corporation  (the
"Company"),  to be materially  different  from future  results,  performance  or
achievements expressed or implied by such forward-looking  statements. The words
"expect", "estimate",  "anticipate",  "predict", "believe",  "forecast," "plan",
"seek",   "objective",   and  similar   expressions  are  intended  to  identify
forward-looking  statements.  Important  factors  that  could  cause the  actual
results, performance or achievement of the Company to differ materially from the
Company's expectations include the following: (1) one or more of the assumptions
or  other   cautionary   factors   discussed  in  connection   with   particular
forward-looking  statements  or  elsewhere  in this Form 10-QSB  prove not to be
accurate;  (2) the  Company is  unsuccessful  in  increasing  sales  through its
anticipated marketing efforts; (3) mistakes in cost estimates and cost overruns;
(4) the Company's inability to obtain financing for general operations including
the  marketing of the  Company's  products;  (5)  non-acceptance  of one or more
products  of the  Company  in the  marketplace  for  whatever  reason;  (6)  the
Company's  inability to supply any product to meet market demand;  (7) generally
unfavorable   economic   conditions  which  would  adversely  effect  purchasing
decisions by distributors,  resellers or consumers; (8) development of a similar
competing  product at a similar price point;  (9) the inability to  successfully
integrate one or more acquisitions,  joint ventures or new subsidiaries with the
Company's  operations   (including  the  inability  to  successfully   integrate
businesses  which may be diverse as to type,  geographic  area, or customer base
and the diversion of management's  attention among several acquired  businesses)
without  substantial  costs,  delays,  or other  problems;  (10) if the  Company
experiences labor and or employment  problems such as the loss of key personnel,
inability to hire and/or retain competent  personnel,  etc.; (11) if the Company
experiences  unanticipated  problems and/or force majeure events  (including but
not limited to accidents,  fires, acts of God etc.), or is adversely affected by
problems of its  suppliers,  shippers,  customers  or others;  and (12)  foreign
currency  exchange  rate  fluctuations.  All  written  or  oral  forward-looking
statements attributable to the Company are expressly qualified in their entirety
by such factors.  The Company  undertakes no obligation to publicly  release the
result of any revisions to these forward-looking statements which may be made to
reflect  events  or  circumstances  after  the date  hereof  or to  reflect  the
occurrence of unanticipated events.  Notwithstanding the foregoing,  the Company
is not entitled to rely on the safe harbor for forward looking  statements under
27A of the  Securities  Act or 21E of the Exchange Act as long as the  Company's
stock is  classified  as a penny stock  within the meaning of Rule 3a51-1 of the
Exchange Act. A penny stock is generally  defined to be any equity security that
has a market  price (as  defined  in Rule  3a51-1) of less than $5.00 per share,
subject to certain exceptions.

         The  following  discussion  should  be read  in  conjunction  with  the
Consolidated Financial Statements, including the notes thereto.

         The Company develops,  markets and sells fully scalable software (under
the  brand  name  of  INVU)  for  the  electronic  management  of all  types  of
information and documents,  such as forms,  correspondence,  literature,  faxes,
e-mail, technical drawings,  electronic files and web pages. Management believes
that the INVU software strongly adheres to the Company's brand values of ease of
use, functionality and price performance.

         The  Company's  objective  is to establish  itself as a leading  global
supplier  of  information  and  document   management   software  and  services.
Management  believes  that,  as the market  matures,  the  purchase  of document
management systems will become increasingly  routine as buyers become acquainted
with both the technology and  applications.  In order to deal with the increased
demand,  the Company  continues  to improve the quality of its third party value
added  resellers.  Management  considers  both branding and product  positioning
fundamental  to attaining the market share  required to  profitably  achieve its
objective of being a leading  supplier of  information  and document  management
software.

         The Company is fully  focused on its  professional  range of  products,
which  include  INVU Series  100,  Series 200,  Series  250,  i200 and  CodeFree
Integration,  where the  Company  continues  to target  its sales and  marketing
efforts on several easily  identifiable  mature market channels.  These channels
include software  distributors and resellers who market to small and medium size
enterprises  as well as  departmental  users in major  organizations,  strategic
alliances  with hardware  manufacturers  and  distributors,  and direct sales to
major institutions and organizations.

         Management  has adopted a value added reseller (VAR) model for sales of
its  products  in the UK,  Ireland,  Holland  and  Belgium.  The Company is also
pursuing  non-exclusive  distributors  for its  products  in other  territories.
Management  is extremely  encouraged  by the number and quality of the resellers
that have been  recruited  to date to sell the  product.  Each VAR is  currently
engaged, as an accredited  reseller,  at an initial fee of approximately  $3,820
with a recurring  annual fee thereafter.  The Company  continually  monitors its
resellers to ensure that they meet the stringent INVU accreditation requirements
and discharges those who fail to meet this criteria.  The Company  continues its
aggressive VAR  recruitment  campaign,  having  recruited 33 (including  four in
Holland)  new  resellers  during the fiscal  year ended  January  31,  2003 (the
"Current  Fiscal  Year").  Management  has set an  ambitious  target to  recruit
further  VARs  by the end of the  Current  Fiscal  Year.  A new  sales  manager,

                                       1
<PAGE>

specifically  tasked with this  objective,  joined the Company in February 2003.
Ten new VARs were  recruited  in the quarter  ended April 30, 2003 and a further
ten in the quarter ended July 31, 2003.

         Typically  in a VAR  based  route  to  market,  sales  success  can  be
inconsistent.  However,  the  INVU  sales  management  team has  implemented  an
intensive  marketing and sales  support  program with its  resellers,  including
sales and technical  training,  joint seminars,  direct mail and joint telephone
marketing  campaigns.  The success of this ongoing  program has provided many of
the recruited  resellers with a pipeline of end-user  opportunities,  which they
are actively  pursuing with the  involvement  of Company sales  personnel.  Many
newly  recruited   resellers  are  taking  sales  orders  within  two  weeks  of
accreditation.  The  level of end user  inquiries  continues  to grow and  these
inquiries are now being converted into sales at a rapidly  increasing rate. Even
more  satisfying  is the  increase  in average  number of users per sale and the
significant  reduction in time between first contact and order  placement by end
users.  Management  believes that this continues to reflect the Company's  brand
values of ease of use, high quality and price performance.

         Together  with the steady  increase  in  adoption  of the INVU range by
companies in the small/medium enterprise market, management is encouraged by the
continuing level of interest from large organizations with new and repeat orders
being received from, amongst others,  Mitsubishi UK, Centrica,  Persimmon Homes,
Willmott Dixon, University Hospital Wales, Maersk Group, University of Hull, and
Misys Financial Solutions.

         The  significant  expansion  of the sales team in the fiscal year ended
January  31,  2002,  under  the  guidance  of Jon  Halestrap  (VP of  Sales  and
Marketing),  provided INVU with an experienced  and dedicated team with which to
recruit a reseller  base and explore other sales  opportunities  during the year
ended January 31, 2003.  The  subsequent  UK  recruitment  of a "Dealer  Sign-Up
Manager",  and a further "Business  Development  Manager" signaled the Company's
intent to expand  sales even  further in the  Current  Fiscal  Year.  During the
quarter  ended July 31,  2003,  the Company has  deployed  three  further  sales
personnel.

         Following the successful acquisition of Corsham Holding B.V., in August
2002, whose name has now been changed to INVU Netherlands  B.V., the Company now
has representation in Amsterdam,  Holland. A country manager was recruited,  who
is directed by and responsible to the Company's board of directors.  The initial
success of this venture led to the recent  expansion of the Dutch sales team and
a further eight VARs have been  recruited in Holland and Belgium.  Sales for the
quarter ended July 31, 2003 have increased  considerably and management  expects
further  significant growth in subsequent  quarters.  The Dutch venture reflects
INVU's  global  aspirations,  whilst  ensuring  that tight  fiscal  controls are
exercised over the business during this period of growth and change.

         Management  believes  that the  increased  experience  in the  document
management  sector of its sales team and  resellers  together  with their proven
ability to develop and grow sales revenue  continue to be the key factors in the
rapid  development of the Company.  Most current resellers have now attended the
INVU bespoke sales training  course,  which has proved  extremely  successful in
terms of lead  generation and  conversion.  Management  expects  continued sales
growth during the Current Fiscal Year and beyond.

         According to IDC, the content and document  management  services market
will expand at a compound  annual growth rate of 44 percent to reach about $24.4
billion  in 2006  (from  Worldwide  and U.S.  Content  and  Document  Management
Services:  Mid-Year  Forecast Update 2002), and Management  believes that it has
the  ability to be a major  provider of  information  management  to  businesses
world-wide.  Management  considers that the INVU brand  awareness is increasing.
Unsolicited  inquiries from  prospective  end users and resellers are increasing
significantly,  as are visitor numbers at exhibitions, trade fair and shows. The
Company  believes  that its  current  products,  together  with  planned  future
developments,  are well matched to its target market,  and that its brand values
of ease of use,  functionality  and  price  performance  have  already  and will
continue to differentiate its products from its competitors.

         Throughout  the three  months  ended July 31,  2003,  the  Company  has
continued  to  develop  its  software  products.  Version  5.2 of the  Company's
professional  range of  products,  INVU Series 100 and Series 200,  contains the
newly developed OCR (Optical Character Recognition)  functionality,  which works
with all  Microsoft  OfficeTM  and AdobeTM file types and scanned  images.  This
functionality  automatically  allows  a user  to  keyword  search  all  existing
documents in the system.  This release also contains a Microsoft  Office Add-In,
which allows  integration  with  Microsoft  OfficeTM  2000.  This gives INVU the
ability to send items from Microsoft  Outlook to a user-selectable  in-tray.  It
also allows users to save documents from Microsoft WORD, EXCEL and PowerPoint as
an INVU filing, even if these files are created outside of INVU.

                                       2
<PAGE>

         INVU Series 250, the "Sequential  Workflow  Module",  allows documents,
forms  and  files  to  be  "intelligently"  routed  electronically  to  specific
departments  and  individuals  in a  pre-determined  sequence.  Individuals  who
receive the file may review and revise it, and the file will then be sent to the
next individual in the pre-determined order. This module is a generic adaptation
of a bespoke  program  already in use with  customers  such as  Universal  Music
Group. The workflow module is designed to be customer  friendly and easy to use.
Sales and inquiry levels for this product continue to rise.  Management believes
that the  functionality  of Series 250 has given the INVU  range a much  broader
appeal to its potential customer base.

         The Company has successfully developed a highly sophisticated code free
integration  tool for use with the INVU  professional  range of  products.  This
allows  INVU  products  to be  linked to any other  Windows(TM)  or  Windows(TM)
emulation-based  applications.  This is  achieved  without  the need for further
software  development  and gives INVU resellers the ability to add  considerable
value to the INVU product offering without the difficulty and cost of hiring and
managing  development  programmers.  This product has successfully  been used to
"document enable" many different  applications,  including accountancy,  patient
record,  financial  back  office  and  contact  management  systems,  whereby  a
"mouse-click"  on  a  specified  screen  within  the  native   application  will
automatically  link to INVU and provide a copy of the  relevant  image stored in
INVU. The displayed image could, for example, be an invoice,  medical chart, tax
return or marketing literature.  Management believes the use of this product for
Universal  Music Group and other  projects  has  significantly  reduced cost and
installation  timescales.  The Company  believes  that this  product  provides a
significant  competitive  advantage  when  compared  to  other  information  and
document management technologies.  Sales of the "codefree" module have increased
significantly,  with one in three INVU installations  employing this technology.
Management  expects  this  trend  to  continue,  particularly  now  that the new
enhanced  version of "codefree"  has been  released  into the market.  Sales and
inquiries for Advanced CodeFree Integration are rapidly increasing.

         INVU i200  (formerly  codenamed  Series  2000 or INVU  WEBFAST)  allows
global access to retrieve,  view,  edit, and file  information via the web. This
product was  successfully  launched in the first  quarter of the Current  Fiscal
Year.   Management  believes  that  this  product  forms  the  basis  of  future
developments  for many of its existing  and future end users.  In the opinion of
management,  with this technology,  INVU now offers a key functionality  that is
comparable  to the world's  most  established  document  and content  management
solutions,  but at a  significantly  lower  price.  Development  work is nearing
completion on INVUi250 , which combines all the  functionality  of INVU i200 but
with additional intelligent routing capabilities via the web.

         Development and testing of a highly  sophisticated  content addressable
indexing and retrieval  system has continued  throughout  the period.  Full text
retrieval  technology is already  available  within the latest release of Series
200 and Series 250, and INVU has developed technology,  which is currently being
tested,  that is  designed  to  allow  access  to  data  and  documents  through
intelligent  frequency of word and phrase  recognition and semantic  networking.
The  technology is further  designed to convert  scanned  images into text using
standard and bespoke  developed Optical Character  Recognition  technology,  and
even poor  quality  scanned  images  may yield  words and  phrases  that  INVU's
technology  will retrieve.  The Company  expects this product to further enhance
filing and retrieval speeds for  organizations  with large multiple data storage
requirements across networks, intranets,  extranets and the internet. Management
further believes that these artificial  intelligence products have the potential
to revolutionize  business processes across a range of commercial  applications.
Beta  versions  of this  technology  have  been  incorporated  into the  Britech
project, discussed below, and other development projects.

         An  agreement  was  signed  on  August  1,  2002  between  The  Britech
Foundation  Limited,  Smashing  Concepts Ltd (an Israeli  company) and INVU Inc.
Britech is an Anglo-Israeli  Government funding initiative  concerning bilateral
co-operation in private sector  industrial  research and  development.  INVU and
Smashing  Concepts  put  forward  a  joint  proposal  to  develop  a  web  based
application  that will enable  financial  services  organizations to interrogate
multiple  data sources  and, via an  electronic  filtration  mechanism,  provide
highly  sophisticated   categorization  of  information  within   pre-determined
parameters.  This will allow faster and more accurate retrieval of relevant data
from which  reliable  decisions can be made.  The  combination  of INVU's proven
technology  and that  provided by Smashing  Concepts  has  convinced  Britech to
invest nearly $500,000 into the project.  INVU and Smashing Concepts will invest
a similar  amount  between them in new  employees  dedicated to this project and
other development expenses,  and the project should provide an end user solution
within 18 months of the contract date. Due to the cutting edge technology  being
developed,  management  expects  further  spin-off  benefits to accrue that will
complement the Company's  current product  portfolio.  Encouraging  progress has
been made on this  project,  which is  currently  on budget and within  original
timescales.

         Critical Accounting Policies

         Invu's  financial  statements  and  accompanying  notes are prepared in
accordance with generally accepted  accounting  principles in the United States.
Preparing  financial  statements  requires  management  to  make  estimates  and
assumptions  that affect the reported amounts of assets,  liabilities,  revenue,
and expenses.  These  estimates  and  assumptions  are affected by  management's
application  of  accounting  policies.  Critical  accounting  policies  for Invu
include  revenue  recognition,  accounting for research and  development  costs,
accounting  for the  impairment of long-lived  assets,  accounting  for business
combinations and goodwill and accounting for contingencies.

                                       3
<PAGE>

         Invu  recognizes  revenue in  accordance  with  American  Institute  of
Certified Public Accountants  (AICPA) Statement of Position (SOP) 97-2, Software
Revenue Recognition as amended by Statement of Position (SOP) 98-9, Modification
of SOP 97-2, Software Revenue Recognition, With Respect to Certain Transactions,
(SOP 98-9). Fees for services and maintenance are generally charged to customers
separately  from the license of software.  Service  revenue is  recognized  when
services are performed.  Maintenance  revenue is deferred and recognized ratably
over the term of the contract,  normally  twelve  months.  Revenues from license
fees are recognized upon product shipment when fees are fixed, collectability is
probable  and the Company has no  significant  obligations  remaining  under the
licensing agreement.  In instances where a significant vendor obligation exists,
revenue recognition is delayed until such obligation has been satisfied.

         Invu accounts for research and  development  costs in  accordance  with
several accounting pronouncements, including SFAS 2, Accounting for Research and
Development Costs, and SFAS 86, Accounting for the Costs of Computer Software to
be Sold,  Leased, or Otherwise  Marketed.  SFAS 86 specifies that costs incurred
internally in creating a computer  software product should be charged to expense
when incurred as research and development  until  technological  feasibility has
been established for the product. Once technological feasibility is established,
all software  costs  should be  capitalized  until the product is available  for
general  release to  customers.  Judgment is required  in  determining  when the
technological  feasibility  of a product  is  established.  Invu  believes  that
technological  feasibility  for its  products  is  reached  shortly  before  the
products are  released to  manufacturing.  Costs  incurred  after  technological
feasibility is established have been insignificant, and accordingly, the Company
has not capitalized any software development costs.

         Invu follows the provisions of Statement of Accounting  Standards (SFAS
No. 144),  Accounting for the Impairment or Disposal of Long-Lived Assets.  SFAS
No. 144 supersedes SFAS 121 but maintains the same accounting  standards for the
impairment of long-lived  assets,  certain  identifiable  intangibles  and items
related to those assets.  The Company reviews  long-lived  assets to be held and
used for impairment  whenever events or changes in  circumstances  indicate that
the  carrying  amount of the  assets may not be  recoverable.  If the sum of the
undiscounted  expected future cash flows is less than the carrying amount of the
assets,  the  Company  recognizes  an  impairment  loss.  Impairment  losses are
measured as the amount by which the  carrying  amount of the assets  exceeds the
fair value of the  assets.  When fair  values  are not  available,  the  Company
estimates fair value using the expected  future cash flows  discounted at a rate
commensurate with the risks associated with the recovery of the assets.

         Invu follows the provisions of SFAS No. 141, Business  Combinations and
SFAS No. 142,  Goodwill and Other  Intangible  Assets.  The Company  capitalizes
goodwill  arising as a result of the  acquisition  of a subsidiary  and does not
amortize this goodwill. The goodwill is subject to an impairment review at least
annually  with any  impairment  provision  being  charged  to the  Statement  of
Operations in the relevant period.

         Invu   follows  the   provisions   of  SFAS  No.  5,   Accounting   for
Contingencies.  SFAS  No.  5  requires  that  an  estimated  loss  from  a  loss
contingency  should be accrued for by a charge to income if it is probable  that
an asset has been  impaired or a liability  has been  incurred and the amount of
the loss can be reasonably estimated. Disclosure of a contingency is required if
there is a possibility that a loss has been incurred.


         Results of Operations

         The following is a discussion of the results of operations  for the six
months  ended July 31, 2003,  compared  with the six months ended July 31, 2002,
with  further  comparison  between the three  months ended July 31, 2003 and the
three months ended July 31, 2002,  together with changes in financial  condition
during the six month period ended July 31, 2003.

         Total revenues  increased by $44,386,  or 7.4%, from $601,255,  for the
three months  ended July 31, 2002 to  $645,641,  for the three months ended July
31, 2003,  and increased by $248,204,  or 24.5%,  from  $1,013,606,  for the six
months ended July 31, 2002 to $1,261,810 for the six months ended July 31, 2003.
This  increase in revenues  reflects the  Company's  continued  expansion of its
customer base and the increasing awareness of the Company's software products in
the market  place.  Management  believes  this further  reflects  the  Company's
understanding of the requirements of its end users.

         The net loss for the three  months  ended July 31,  2003 was  $342,882,
which is $35,653 or 11.6% more than the net loss for the corresponding period in
the prior fiscal year of $307,229, mainly due to increased operating expenses of
$95,480.  The net loss for the six months  ended July 31, 2003 was  $491,721,  a
decrease  of  $193,668,  or 28.3%,  from the  corresponding  period in the prior
fiscal year of  $685,389,  mainly due to  increased  revenues and expenses and a
decrease in net interest expense.

                                       4
<PAGE>

         Production  costs consist of royalty fees  associated  with third party
software,  costs  related  to  reproduction,   packaging,  and  distribution  of
software, direct costs associated with the implementation of software solutions,
consulting and training services and other costs related to product upgrades for
existing users. Production costs as a percentage of total revenues were 7.6% and
7.1%, respectively, during the three and six months ended July 31, 2003 compared
to 8.3% and 10.5%,  respectively,  during the same  periods in fiscal year 2002.
Despite the increase in sales,  production costs decreased $672, or 1.3%, during
the three  months  ended July 31, 2003  compared to the same period in the prior
fiscal year and decreased $16,997,  or 16%, during the six months ended July 31,
2003 compared to the same period in the prior fiscal year. These changes reflect
an  underlying  fall in  production  costs as a  proportion  of revenues  due to
economies of scale, and improved supply terms.

         Selling and  distribution  costs consist  primarily of personnel costs,
commissions,  marketing  literature,  travel and promotional  activities such as
trade shows,  seminars,  advertising and public relations programs.  Selling and
distribution  costs  increased  $70,752,  or  29.6%,  and  $155,562,  or  35.3%,
respectively,  during the three and six months  ended July 31, 2003  compared to
the same periods in the prior fiscal year.  Selling and distribution  costs as a
percentage of total revenues were 48% and 47.3%, respectively,  during the three
and six months  ended July 31, 2003  compared to 39.7% and 43.5%,  respectively,
during  the  same  periods  in the  prior  fiscal  year.  The  changes  over the
comparable three and six month periods were due to the Company's new VAR-focused
marketing initiatives to further increase sales during the Current Fiscal Year.

         Research  and   development   costs   consist  of  continued   software
development and further enhancements to existing software products.  These costs
are expensed as incurred until technical  feasibility has been  established.  To
date, the  establishment  of technical  feasibility  and the subsequent  general
release to customers have been almost simultaneous,  and, therefore, the Company
has not capitalized software  development costs.  Research and development costs
increased $11,122, or 6.4%, and $24,420, or 7%,  respectively,  during the three
and six months  ended July 31, 2003  compared  to the same  periods in the prior
fiscal year.  Research and  development  costs as a percentage of total revenues
were 28.6% and 29.8%,  respectively,  during the three and six months ended July
31, 2003 compared to 28.9% and 34.6%,  respectively,  during the same periods in
the prior fiscal year. The Company now has an established  in-house  development
team capable of meeting all of the Company's planned  development  requirements.
Management  expects that this continued  investment in research and  development
will  provide the  release of Version 5.3 of Series 200,  Series 250 and i200 in
the next quarter of the Current Fiscal Year, together with continued work on the
Britech  project  and  other  artificial  intelligence  products.  All of  these
developments  are aimed at providing  end users with  products  that  management
believes  have the best  combination  of value  and  performance  in its  market
sector.

         Administrative  costs  include  the  personnel  and other  costs of the
administration,  costs  associated  with being a public  company  subject to the
reporting  requirements  of  the  Exchange  Act,  human  resources  and  finance
departments,  together with property expenses,  exchange gains and losses,  debt
provisions,  amortization  of intangibles and  depreciation of tangible  assets.
These costs increased  $14,278,  or 4.4%, during the three months ended July 31,
2003 and decreased $50,215,  or 8.7%, during the six months ended July 31, 2003,
compared to the same periods in the prior fiscal year. Administrative costs as a
percentage of total revenues had reduced to 53% and 41.7%, respectively,  during
the three and six  months  ended  July 31,  2003  compared  to 54.5% and  56.9%,
respectively,  during the same  periods  in the prior  fiscal  year.  The dollar
decrease in administrative costs over the comparable six month period was due to
the  Company's  additional  legal  fees in the  prior  fiscal  year and  reduced
depreciation of fixed assets. The increase in administrative  costs in the three
months  ended July 31, 2003 as compared to the  comparative  period in the prior
fiscal year is in line with the increase in revenues for the period.

         During  the three and six  months  ended  July 31,  2003,  the  Company
incurred net interest expense of $102,660 and $165,968,  respectively,  compared
to net  interest  expense of $118,101  and  $224,202,  respectively,  during the
corresponding  periods in the prior fiscal year.  This decrease is mainly due to
the  movement  in  exchange  rates  between  the US Dollar  and pound  sterling.
Management  expects  interest  costs to fall if and when  additional  investment
funding is secured at favorable rates.  Interest costs will also decrease if and
when net revenues are adequate to consistently generate net cash inflows.

         The tax rates for the periods in question are zero due to a net loss in
each period.

         The total  current  assets of the Company were  $1,532,037  at July 31,
2003, a decrease of $275,858 compared to $1,807,895 at January 31, 2003. Working
capital was negative  $7,332,229  as of July 31, 2003,  compared  with  negative
$6,525,695 as of January 31, 2003.  These changes are mainly due to increases in
inventories,  prepaid  expenses,  current  maturities of long term  obligations,
accounts  payable,  deferred  revenue and taxation  liabilities and decreases in
accounts   receivable,   cash,  short  term  credit   facilities,   and  accrued
liabilities. The decrease in accounts receivables of $329,049 from $1,559,094 at
January 31,  2003 to  $1,230,045  at July 31,  2003,  was due to  improved  cash
collections from customers.. The cash relates to bank balances held by the Dutch
subsidiary.  The Dutch subsidiary acquired in August 2002 has a tax liability of
$2,025,254.  The movement in the tax liability between January 31, 2003 and July
31, 2003 is entirely  due to changes in exchange  rates.  Based on  professional

                                       5
<PAGE>

advice,  management believes that this liability will be expunged once agreement
of the tax  computations  and returns for the period ending January 31, 2003 has
been reached with the Dutch tax authorities,  although no assurance can be given
that the applicable tax authorities  will reach the same conclusion in the event
of an audit or other regulatory inquiry.  Management believes that a significant
part of the current  maturities of long term obligations,  together with accrued
interest  included in accrued  liabilities,  will  ultimately be converted  into
equity and not become repayable.

         Total  assets  of the  Company  were  $3,137,070  at July 31,  2003,  a
decrease  of $399,748  compared  to  $3,536,818  at January  31,  2003.  This is
attributable  to  decreases in fixed  assets of $65,312,  intangible  assets and
goodwill of $58,578 and current  assets of $275,858.  The goodwill of $1,331,136
at July 31, 2003 is in respect of the  acquisition  of the Dutch  subsidiary  in
August 2002 for consideration of $4,195,778, including professional fees.

         The total current liabilities of the Company increased by $530,676 from
$8,333,590 at January 31, 2003 to $8,864,266 at July 31, 2003.  This increase in
current  liabilities  is due to an increase in current  maturities  of long-term
obligations  of $407,641,  accounts  payable of $110,611,  deferred  revenues of
$81,784 and taxation liabilities of $93,694.  There have been decreases in short
term credit  facilities of $55,799 and accrued  liabilities  of $107,255.  These
changes continue to reflect the Company's  current reliance on short term credit
facilities and loan finance.  Long-term obligations less current maturities were
$1,538,298 at July 31, 2003 compared to $1,811,922 at January 31, 2003.

         Total  stockholders'  equity decreased by $656,800 during the six month
period ended July 31, 2003 from a deficit of $6,608,694 at January 31, 2003 to a
deficit of  $7,265,494  at July 31,  2003.  The  Company is  evaluating  various
financing options, including issuing debt and equity and strategic acquisitions.

         Financing Management's Plan of Operation

         Due to the current levels of sales revenues, the Company is approaching
a position  whereby it will be able to meet current  operating  expense payments
out of current revenue  receipts.  If revenues continue to grow as predicted and
assuming  that  cash  collections  are  in  line  with  management's  forecasts,
management  believes  that the  Company  will be in a position  to  finance  the
Company's day to day  operations  from  internally  generated  working  capital;
however the  Company is seeking  additional  financing  in order to pay down its
outstanding  indebtedness  and to enable the Company to further  accelerate  its
growth both organically and through acquisition.

         The Company has a $321,500  short-term  credit  facility with an annual
interest rate  currently of 5.50% with an English bank. The amount drawn against
the facility at July 31, 2003 was $237,539,  which is repayable on demand at the
bank's  discretion.  This facility has been renewed and the next review date has
been set for February  10,  2004.  The  Company's  bank also  provided a further
credit  facility  of  $964,500  in  October  2001 by way of notes  payable  with
re-negotiated  monthly repayments of $40,187 for June through September 2003 and
$80,375  from October 2003 through  July 2004.  This  facility  currently  bears
interest at the rate of 5.50% per annum.  The bank credit  facilities  and notes
payable are collateralized by all assets of the Company,  a corporate  guarantee
given by Vertical Investments Limited and a guarantee of $160,750 given by David
Morgan.

         In August 1999, the Company received a loan in the aggregate  principal
amount  of  $600,000  and a second  loan in the  principal  amount  of  $400,000
(together  "Loan  Stock  Instruments")  from Alan David  Goldman  (the father of
Daniel Goldman),  Vertical Investments Limited and Tom Maxfield (a non-executive
director of the Company).  The Loan Stock Instruments currently bear interest at
the rate of 6% and 10% per  annum,  respectively,  and may be  converted  by the
investors into one share of common stock for each $0.65 and $0.50, respectively,
of  outstanding  principal  and accrued but unpaid  interest.  If the Loan Stock
Instruments  are not converted,  they may be redeemed upon 30 days notice by the
investors.  The Loan Stock Instruments will also be automatically converted upon
the  occurrence of certain  events.  See "Note D-Long Term  Obligations"  in the
Consolidated Financial Statements.

         In  February  2001,  Vertical  Investments  Limited  lent  the  Company
$1,000,000.  Vertical  Investments  Limited made further advances of $250,000 in
May 2001, $50,000 in July 2001, $500,000 in September 2001, $275,000 in December
2001 and  $275,000  in  February  2002  (collectively,  the  "Vertical  Loans").
Effective  as of  December  2001,  the  Vertical  Loans  then  outstanding  were
restructured to apply conversion features to enable the loans to be converted by
the Company  into shares of the  Company's  common  stock at  conversion  prices
ranging from $0.13 to $0.25 per share at various  times.  The May and July loans
were due for repayment on May 25, 2003.  Management has entered into discussions
with Vertical  Investments  Limited regarding the re-structuring of these loans,
and does not believe that demands for repayment will be forthcoming.

                                       6
<PAGE>

         In May 2001,  the Company  received  $50,000 from  Paysage  Investments
Limited and in June 2001, the Company  received  $84,000 from Pershing  Nominees
and $25,000 from Guernroy  Limited.  Each of these  advances  referenced in this
paragraph were made by way of convertible loans at an interest rate per annum of
1.5% above the UK bank base rate.  Each of the  convertible  loans has  maturity
date 24 months from date of issue,  but  principal and interest may be repaid at
any time without  penalty.  The loans are  convertible  at the rate of $0.25 per
share of common  stock,  and the  investor  may  convert,  having  given 45 days
notice,  at any  time  during  the 24 month  period.  These  loans  were due for
repayment in May and June,  2003.  No formal demand for repayment has been made,
and Management also expects to restructure these loans.

         In June 2002,  the  Company  secured a short term  credit  facility  of
$401,875  from Bank Leumi at an annual  interest rate  currently at 6.50%.  This
facility was increased to $482,250 in August 2003 at the same interest rate. The
credit facility is  collateralized  by all assets of the Company and a corporate
guarantee given by Vertical  Investments  Limited.  The amount drawn against the
facility  at July 31, 2003 was  $401,875,  which is  repayable  on demand at the
bank's discretion. This facility is due for renewal in January 2004.

         On May 24, 1999,  the Government of the United Kingdom of Great Britain
and  Northern  Ireland  and the  Government  of the  State of  Israel  signed an
agreement concerning the bilateral  co-operation of the two countries in private
sector   industrial   research  and  development   and   establishing  a  United
Kingdom-Israel  Industrial  Research  and  Development  Fund,  also known as The
Britech Fund. As a result,  the Company entered into a Co-operation  and Project
Funding  Agreement  on August 1, 2002 with  Smashing  Concepts  Ltd., a software
development  company  based in Israel  ("Smashing  Concepts"),  and The  Britech
Foundation   Limited,   the  non-profit   administrator   of  The  Britech  Fund
("Britech"),  pursuant to which Britech approved a proposal submitted jointly by
the  Company  and  Smashing  Concepts  for the  financial  support of a software
development project between the two companies (the "Project").

         Britech  agreed  to  provide  funds  by   conditional   grant  for  the
implementation of the Project in an amount equal to the lesser of (pound)310,000
(US$495,380) or 50% of the actual  expenditures on the Project (as  contemplated
in the approved budget of the Project).  Such amount was divided equally between
the Company and Smashing  Concepts.  On August 22, 2002, the Company received an
initial  payment of  (pound)71,000  (US$113,458)  from  Britech,  which has been
included in deferred  revenue.  Following  the  satisfactory  completion  of the
"integration  phase" of the  Project,  Britech  made an  additional  payment  of
(pound)66,000  (US$105,468)  to the Company on February 18,  2003.  Britech will
make a final  payment  of  (pound)18,000  (US$28,764)  to the  Company  upon the
completion  of the Project.  The Company and  Smashing  Concepts are required to
make certain repayments to Britech of the grant amounts based on the gross sales
derived from the sale, leasing or marketing of innovations  developed during the
course of the Project, as well as make certain royalty payments to Britech based
on sales of  patented  products  developed  during  the  course of the  Project.
Additionally, the Company and Smashing Concepts are required to pay to Britech a
percentage of all licensing revenues achieved from products developed during the
course of the Project.

         On August 23, 2002, INVU International Holdings Limited, a wholly-owned
subsidiary of the Company ("INVU  Holdings"),  entered into an Agreement for the
Sale,  Purchase and Transfer of Shares (the  "Agreement)  pursuant to which INVU
Holdings  agreed to  purchase  all of the  issued  and  outstanding  stock  (the
"Corsham Stock") of Corsham Holding B.V., a company incorporated under Dutch law
("Corsham"),   from  B.V.   Holding   Maatschappij   "De  Hondsrug,"  a  company
incorporated under Dutch law ("B.V.  Holding"). In consideration for the Corsham
Stock,  INVU  Holdings  agreed to (i) assume an  aggregate  of (Euro)  3,006,294
(US$2,923,928)  of debt owed by B.V.  Holding  to  Corsham  and (ii) make a cash
payment equal to (Euro)  965,544  (US$939,090)  to B.V.  Holding.  The Agreement
provides  that the  acquisition  of the Corsham  Stock would be  effective as of
August 23, 2002.  The purchase  price for the Corsham Stock was based on the net
asset value of Corsham on August 23,  2002,  as set forth in  Corsham's  balance
sheet,  plus an amount equal to 18.5% of Corsham's net profits  before taxes for
the financial year 2002 through August 23, 2002.

         Pursuant  to the  terms of the  Agreement  for the Sale,  Purchase  and
Transfer of Shares dated as of August 23, 2002, by and among INVU Holdings, B.V.
Holding and Corsham (the "Second Agreement"),  INVU Holdings and Corsham entered
into a Transfer of Trade Secret and Exclusive  License of Know-How  Agreement on
September  6,  2002,  pursuant  to which INVU  Holdings  agreed,  under  certain
conditions,  to transfer confidential  information,  an exclusive license to use
its technology and its business plan to Corsham.  In exchange for such transfer,
Corsham  has  agreed  to  (i)  make a  cash  payment  equal  to  (Euro)  965,544
(US$950,385)  to INVU Holdings and (ii) reduce the debt owed by INVU Holdings to
Corsham by (Euro) 1,330,783 (US$1,309,890).  Pursuant to the terms of the Second
Agreement,  INVU  Holdings and Corsham also entered into an Exclusive  Copyright
and Trademark/Tradename License Agreement on September 6, 2002 pursuant to which
INVU  Holdings  agreed,  inter alia, to grant  exclusive  software and copyright
licenses  of certain of its  products  to  Corsham  for an initial  term of four
years. In consideration for such exclusive  licenses,  Corsham has agreed to (i)
reduce  the debt  owed by INVU  Holdings  to  Corsham  by an  additional  (Euro)
1,675,511  (US$1,649,205)  and  (ii) pay an  aggregate  amount  equal to  (Euro)
35,400,661  (US$34,844,871)  to INVU  Holdings,  which amount shall be loaned to
Corsham by INVU  Holdings  pursuant  to a Loan  Agreement  entered  into by INVU
Holdings and Corsham dated as of September 6, 2002. These transactions have been
eliminated  in  the  consolidated   financial  statements.   The  value  of  the
distribution and technology transfer rights licensed to Corsham was based on two

                                       7
<PAGE>


valuations that INVU Holdings  received from independent  accounting  firms. The
Company has received independent tax advice that the transfers referred to above
will not result in a tax liability,  although no assurance can be given that the
applicable  tax  authorities  will reach the same  conclusion in the event of an
audit or other regulatory inquiry relating to the transaction.

         The  distribution  and technology  transfer  rights licensed to Corsham
will be  written  down in the  financial  statements  of  Corsham  over a period
commensurate  with standard  accounting  practices in the Netherlands to reflect
depreciation. It is, therefore, anticipated that this transaction will result in
a  substantial  reduction in Corsham's tax  liability in the  Netherlands.  As a
result of this  transaction,  the cash  holdings of the INVU group  increased by
approximately (pound)322,627 (US$490,684).

         Additionally,  INVU Holdings  changed the corporate  name of Corsham to
INVU Netherlands BV.

         In July 2003 the sum of $343,203 was deposited  with the Company by way
of a short term unsecured loan from Vertical  Investments  Limited. The terms of
this loan are currently under negotiation.

         As noted above, the Company has continued to raise significant  funding
during  difficult  market  conditions.  The Company is in the process of seeking
further  financing from a number of sources in order to pay down its outstanding
indebtedness  and to enable the  Company to further  accelerate  its growth both
organically and through acquisition.  As mentioned  previously,  a number of the
Company's  outstanding  loans are now due for  repayment,  although  demands for
repayment  have not yet been  made.  It should be noted  that  with  respect  to
certain loans the Company has the right, in the event of a demand for repayment,
to satisfy the loan by issuing  shares of Company  common stock to the lender at
conversion prices ranging from $.13 to $.25 per share.  Management has commenced
negotiations  regarding  the  repayment  and/or  conversion  of these  loans and
believes that demands for  repayment  will not be made until the Company is in a
position to meet those  demands.  There can,  however,  be no assurance that the
Company's lenders will continue to defer payment.  In addition,  there can be no
assurance that  additional  debt or equity  financing will be available,  if and
when  needed,  or that,  if  available,  such  financing  could be  completed on
commercially favorable terms. Failure to obtain additional financing if and when
needed, could have a material adverse affect on the Company's business,  results
of  operations  and  financial  condition.   Please  refer  to  Note  B  of  the
Consolidated  Financial  Statements in conjunction with this paragraph regarding
the Company's ability to continue as a going concern.

Item 3.  Controls and Procedures

         As of the end of the  period  covered  by  this  quarterly  report,  an
evaluation was performed under the supervision and with the participation of the
Company's  management,  including the CEO and CFO, of the  effectiveness  of the
design and operation of the Company's disclosure controls and procedures.  Based
on that  evaluation,  the  Company's  management,  including  the  CEO and  CFO,
concluded that the Company's disclosure controls and procedures are effective in
timely alerting them to material  information relating to the Company (including
its consolidated subsidiaries) required to be included in the Company's periodic
SEC reports.  There have been no significant  changes in the Company's  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of their evaluation.

                                       8
<PAGE>




PART II. OTHER INFORMATION

Item 1.  Legal Proceedings.

     None

Item 2.  Changes in Securities.

     There have been no changes in securities during the period.

Item 3.  Default Upon Senior Securities.

     None

Item 4.  Submission of Matters to a Vote of Security Holders.

     None

Item 5.  Other Information.

     None

Item 6.  Exhibits and Reports on Form 8-K.

     None

EXHIBITS

(a)  Exhibits

Exhibit
Number                              Description of Exhibit
------                              ----------------------


10.1     Overdraft Facility, dated July 19, 2000, by and between the Company and
         the Bank of Scotland  (incorporated by reference to Exhibit 10.1 of the
         Company's Quarterly Report on Form 10-QSB filed September 19, 2000).

10.2     Corporate  Guarantee,  dated July 18,  2000,  by and among the Company,
         Invu Plc, Invu Services Limited,  Invu  International  Holdings Limited
         and the Bank of Scotland  (incorporated by reference to Exhibit 10.2 of
         the  Company's  Quarterly  Report on Form 10-QSB  filed  September  19,
         2000).

10.3     Debenture,  dated July 13,  2000,  by and  between  Invu  International
         Holdings Limited and the Bank of Scotland (incorporated by reference to
         Exhibit  10.3 of the  Company's  Quarterly  Report on Form 10-QSB filed
         September 19, 2000).

10.4     Overdraft Facility,  dated October 29, 2001, by and between the Company
         and the Bank of Scotland  (incorporated by reference to Exhibit 10.4 of
         the Company's Quarterly Report on Form 10-QSB filed December 14, 2001).

10.5      Investment Agreement,  dated August 23, 1999, among the Company, David
          Morgan,  John  Agostini,  Paul  O'Sullivan,  Alan David  Goldman,  and
          Vertical  Investments Limited  (incorporated by reference from Exhibit
          10.12 of the Company's  Annual Report on Form 10-KSB filed October 15,
          1999).

10.6      Loan Stock Instrument,  dated as of August 23, 1999, by the Company in
          favor  of  Alan  David  Goldman  and  Vertical   Investments   Limited
          (incorporated  by reference from Exhibit 10.13 of the Company's Annual
          Report on Form 10-KSB filed October 15, 1999).

10.7      Loan Stock Instrument,  dated as of August 23, 1999, by the Company in
          favor  of  Alan  David  Goldman  and  Vertical   Investments   Limited
          (incorporated  by reference from Exhibit 10.14 of the Company's Annual
          Report on Form 10-KSB filed October 15, 1999).

                                       9
<PAGE>

10.8      Supplemental  Agreement,  dated  as of  August  23,  1999,  among  the
          Company,  Vertical  Investments  Limited,  Alan David  Goldman,  David
          Morgan, John Agostini, Paul O'Sullivan,  INVU Services Limited and Tom
          Maxfield   (incorporated  by  reference  from  Exhibit  10.15  of  the
          Company's Annual Report on Form 10-KSB filed October 15, 1999).

10.9      Financing  Arrangement,  effective as of December  27,  2001,  between
          Vertical Investments Limited, the Company, Invu Services Limited, Invu
          International Holdings Limited and Invu PLC (incorporated by reference
          from Exhibit 10.21 of the Company's Annual Report on Form 10-KSB filed
          May 1, 2002).

10.10+   Co-operation and Project Funding Agreement, dated as of August 1, 2002,
         by and between The Britech Foundation Limited and Smashing Concepts Ltd
         and INVU Inc.  (incorporated  by reference  from  Exhibit  10.10 of the
         Company's Quarterly Report on Form 10-QSB filed September 16, 2002).

10.11    Agreement  for the Sale,  Purchase and Transfer of Shares,  dated as of
         August 23,  2002,  between  and among  B.V.  Holding  Maatschappij  "De
         Hondsrug," INVU  International  Holdings  Limited,  and Corsham Holding
         B.V.  (incorporated  by reference  from Exhibit  10.11 of the Company's
         Quarterly Report on Form 10-QSB filed September 16, 2002).

10.12    Agreement  for the Sale,  Purchase and Transfer of Shares,  dated as of
         August 23,  2002,  between  and among B. V.  Holding  Maatschappij  "De
         Hondsrug," and INVU  International  Holdings  Limited  (incorporated by
         reference from Exhibit 10.12 of the Company's  Quarterly Report on Form
         10-QSB filed September 16, 2002).

10.13    Exclusive  Copyright  and  Trademark/Tradename  License,  dated  as  of
         September 6, 2002, between INVU International Holdings Ltd. and Corsham
         Holding  B.V.  (incorporated  by reference  from  Exhibit  10.13 of the
         Company's Quarterly Report on Form 10-QSB filed September 16, 2002).

10.14    Transfer of Trade Secret and Exclusive  License of Know-How  Agreement,
         dated as of September 6, 2002, between INVU International Holdings Ltd.
         and Corsham Holding B.V.  (incorporated by reference from Exhibit 10.14
         of the Company's  Quarterly  Report on Form 10-QSB filed  September 16,
         2002).

10.15    Loan   Agreement,   dated  as  of  September  6,  2002,   between  INVU
         International  Holdings Ltd. and Corsham Holding B.V.  (incorporated by
         reference from Exhibit 10.15 of the Company's  Quarterly Report on Form
         10-QSB filed September 16, 2002).

10.16    Loan  Agreement,  dated  as of June 13,  2002,  between  INVU  Services
         Limited  and Bank  Leumi  (UK) plc.  (incorporated  by  reference  from
         Exhibit  10.16 of the Company's  Quarterly  Report on Form 10-QSB filed
         December 16, 2002).

31.1*    Certification  of President  and Chief  Executive  Officer  Pursuant to
         Section 302 of the Sarbanes-Oxley Act of 2002.

31.2*    Certification of Vice President and Chief Financial Officer Pursuant to
         Section 302 of the Sarbanes-Oxley Act of 2002.

32.1*    Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

-----------------------
*Filed herewith
+Confidential  materials  deleted and filed  separately  with the Securities and
Exchange Commission


                                       10
<PAGE>


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended,  the Registrant  has duly caused this Quarterly  Report to be signed on
its behalf by the undersigned thereunto duly authorized.

                                          INVU, INC.
                                          (Issuer)



Date: September 11, 2003                  By:   /s/ David Morgan
                                             -----------------------------------
                                             David Morgan, President &
                                             Chief Executive Officer
                                             (Principal Executive Officer)


Date: September 11, 2003                  By:  /s/ John Agostini
                                             -----------------------------------
                                             John Agostini, Vice President-Chief
                                             Financial Officer & Secretary
                                             (Principal Financial Officer)







                                      S-1

<PAGE>

                                INDEX TO EXHIBITS
(a)  Exhibits

Exhibit
Number                            Description of Exhibit
------                            ----------------------


10.1     Overdraft Facility, dated July 19, 2000, by and between the Company and
         the Bank of Scotland  (incorporated by reference to Exhibit 10.1 of the
         Company's Quarterly Report on Form 10-QSB filed September 19, 2000).

10.2     Corporate  Guarantee,  dated July 18,  2000,  by and among the Company,
         Invu Plc, Invu Services Limited,  Invu  International  Holdings Limited
         and the Bank of Scotland  (incorporated by reference to Exhibit 10.2 of
         the  Company's  Quarterly  Report on Form 10-QSB  filed  September  19,
         2000).

10.3     Debenture,  dated July 13,  2000,  by and  between  Invu  International
         Holdings Limited and the Bank of Scotland (incorporated by reference to
         Exhibit  10.3 of the  Company's  Quarterly  Report on Form 10-QSB filed
         September 19, 2000).

10.4     Overdraft Facility,  dated October 29, 2001, by and between the Company
         and the Bank of Scotland  (incorporated by reference to Exhibit 10.4 of
         the Company's Quarterly Report on Form 10-QSB filed December 14, 2001).

10.5      Investment Agreement,  dated August 23, 1999, among the Company, David
          Morgan,  John  Agostini,  Paul  O'Sullivan,  Alan David  Goldman,  and
          Vertical  Investments Limited  (incorporated by reference from Exhibit
          10.12 of the Company's  Annual Report on Form 10-KSB filed October 15,
          1999).

10.6      Loan Stock Instrument,  dated as of August 23, 1999, by the Company in
          favor  of  Alan  David  Goldman  and  Vertical   Investments   Limited
          (incorporated  by reference from Exhibit 10.13 of the Company's Annual
          Report on Form 10-KSB filed October 15, 1999).

10.7      Loan Stock Instrument,  dated as of August 23, 1999, by the Company in
          favor  of  Alan  David  Goldman  and  Vertical   Investments   Limited
          (incorporated  by reference from Exhibit 10.14 of the Company's Annual
          Report on Form 10-KSB filed October 15, 1999).

10.8      Supplemental  Agreement,  dated  as of  August  23,  1999,  among  the
          Company,  Vertical  Investments  Limited,  Alan David  Goldman,  David
          Morgan, John Agostini, Paul O'Sullivan,  INVU Services Limited and Tom
          Maxfield   (incorporated  by  reference  from  Exhibit  10.15  of  the
          Company's Annual Report on Form 10-KSB filed October 15, 1999).

10.9     Financing  Arrangement,  effective  as of December  27,  2001,  between
         Vertical Investments Limited, the Company,  Invu Services Limited, Invu
         International  Holdings Limited and Invu PLC (incorporated by reference
         from Exhibit 10.21 of the Company's  Annual Report on Form 10-KSB filed
         May 1, 2002).

10.10+   Co-operation and Project Funding Agreement, dated as of August 1, 2002,
         by and between The Britech Foundation Limited and Smashing Concepts Ltd
         and INVU Inc.  (incorporated  by reference  from  Exhibit  10.10 of the
         Company's Quarterly Report on Form 10-QSB filed September 16, 2002).

10.11    Agreement  for the Sale,  Purchase and Transfer of Shares,  dated as of
         August 23,  2002,  between  and among  B.V.  Holding  Maatschappij  "De
         Hondsrug," INVU  International  Holdings  Limited,  and Corsham Holding
         B.V.  (incorporated  by reference  from Exhibit  10.11 of the Company's
         Quarterly Report on Form 10-QSB filed September 16, 2002).

10.12    Agreement  for the Sale,  Purchase and Transfer of Shares,  dated as of
         August 23,  2002,  between  and among B. V.  Holding  Maatschappij  "De
         Hondsrug," and INVU  International  Holdings  Limited  (incorporated by
         reference from Exhibit 10.12 of the Company's  Quarterly Report on Form
         10-QSB filed September 16, 2002).

10.13    Exclusive  Copyright  and  Trademark/Tradename  License,  dated  as  of
         September 6, 2002, between INVU International Holdings Ltd. and Corsham
         Holding  B.V.  (incorporated  by reference  from  Exhibit  10.13 of the
         Company's Quarterly Report on Form 10-QSB filed September 16, 2002).



                                      E-1
<PAGE>

10.14    Transfer of Trade Secret and Exclusive  License of Know-How  Agreement,
         dated as of September 6, 2002, between INVU International Holdings Ltd.
         and Corsham Holding B.V.  (incorporated by reference from Exhibit 10.14
         of the Company's  Quarterly  Report on Form 10-QSB filed  September 16,
         2002).

10.15    Loan   Agreement,   dated  as  of  September  6,  2002,   between  INVU
         International  Holdings Ltd. and Corsham Holding B.V.  (incorporated by
         reference from Exhibit 10.15 of the Company's  Quarterly Report on Form
         10-QSB filed September 16, 2002).

10.16    Loan  Agreement,  dated  as of June 13,  2002,  between  INVU  Services
         Limited  and Bank  Leumi  (UK) plc.  (incorporated  by  reference  from
         Exhibit  10.16 of the Company's  Quarterly  Report on Form 10-QSB filed
         December 16, 2002).

31.1*    Certification  of President  and Chief  Executive  Officer  Pursuant to
         Section 302 of the Sarbanes-Oxley Act of 2002.

31.2*    Certification of Vice President and Chief Financial Officer Pursuant to
         Section 302 of the Sarbanes-Oxley Act of 2002.

 32.1*   Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

-----------------------
*Filed herewith
+Confidential  materials  deleted and filed  separately  with the Securities and
Exchange Commission.


                                      E-2