Investview (“Invu”) Reports Strong Year Over Year Growth

The following excerpt is from the company's SEC filing.
in
Third Quarter Fiscal 2021 Financial Results
$7.9
million net revenue for 3
quarter (a $2.9m or 59% increase year over year)
$1.7
million net income for 3
quarter (an increase of $5.5m or 145% year over year)
$1.4
million increase in cash, cash equivalents, and restricted cash during the nine months ended December 31, 2020 (from $137k
at March 31, 2020 to $1.6m at December 31, 2020)
$12
million decrease in current liabilities during the nine months ended December 31, 2020 (from $20.7m at March 31, 2020 to $8.7m
at December 31, 2020)
$45.6
mill ion reduction in future debt obligations
Eatontown,
NJ, February 16, 2021 (GLOBE NEWSWIRE) — Investview, Inc. (OTCQB: INVU), a diversified financial technology company that
through its subsidiaries and global distribution network provides financial technology, education tools, content, research, and
management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets, has released
its financial report (Form 10-Q) for the third quarter of fiscal 2021.
“It
was a strong third quarter across our product portfolio with consistent month over month growth. This is a testament to Investview,
to execute on our mission to diversify into profitable sectors and provide education and access to leading edge technology, information,
and financial tools that empower individuals to improve their quality of life. The world is changing before our eyes and everything
we expected to happen with the maturity of financial technology is happening at an accelerated rate. From balancing a checkbook
to trading bitcoin, we are preparing individuals worldwide to improve their financial status and provide the education and technology
to do it”
said Joe Cammarata, Investview CEO.
Investview
has refocused the company’s objectives and subsidiaries to drive fintech objectives. The four pillars of this initiative
include mining, education, financial trading tools and the newly announced ndau digital currency product packages. Our activities
in support of digital currency and blockchain technologies is currently supporting our revenue growth, but more importantly, it
is supporting the financial technology platforms that will enable individuals around the world to become “bankable.”
Mario
Romano, Director of Finance added,
“Our
third quarter results demonstrate the impact of the changes we have made over the last twelve months. We are accelerating our
revenue growth and increasing our productivity. We see the shift in the global financial landscape and stand ready to do our part
in educating retail self-directed investors in taking part in this evolution.”
Third
Quarter Fiscal 2021 Financial Highlights
Consolidated
net revenue
increased $2.9 million
, or 59% from $5 million to $7.9 million
net income increased $5.5 million
, or 145%, from a net loss of $3.8 million to net income of $1.7 million
Nine
Months Ended 12/31/20 Fiscal 2021 Financial Highlights
Cash,
cash equivalents, and restricted cash increased $1.4 million
from $137k to $1.6 million
Consolidated
current liabilities
decreased $12 million
from $20.7 million to $8.7 million
Future
debt obligations were
reduced by $45.6 million
Management
Commentary
The
company’s ability to navigate the challenges posed by COVID-19 and take necessary definitive actions to protect and preserve
business operations assisted in the positive performance for Q3 of fiscal 2021. This included the discontinuation of the APEX
program on June 30
, 2020 which had created a total debt obligation in excess of $65 million, of which $23 million
had been recorded on our balance sheet with another $42 million of interest expense to be recorded in the subsequent five years.
Management was able to successfully buy back our obligations under the APEX program during the three months ended December 31
,
2020 in exchange for promissory notes totaling $19.5 million, resulting in a $45.56 million reduction in our total debt obligations,
of which $3.9 million was recorded as a gain on settlement of debt during the three months ended December 31, 2020 and the remaining
$42 million will be eliminated from our future interest expense. While this restructure of our debt obligations contributed to
the decrease of only $864k in total liabilities, from $24.6 million as of March 31, 2020 to $23.8 million as of December 31, 2020,
the savings of $42 million in interest expense over the next 5 years is worthwhile.
“We
are extremely pleased with our performance for the three quarters of fiscal 2021 which were delivered in a highly challenging
operation environment amidst the COVID-19 pandemic. We are executing our multi-year plan and we are pleased to see it generating
revenue and profitability,”
added Joe Cammarata, CEO.
Business
Outlook
Based
on recent events that have unfolded in the on-line retail investor space, we see that the need has never been greater for comprehensive
investor education which we currently deliver in over 100 countries worldwide. The growth of individual self-directed investors
due to social media and other information forums turns our focus to the planned ownership of an on-line broker dealer dedicated
to meeting the needs of this trader profile.
(Reference: Investview (“INVU”) Enters Into $11 Million Stock Purchase
with Strategic Fintech Partner Press Release April, 2020)
With the ability to educate and identify the tools required
by today’s multi-generational investor base, we are provided a unique opportunity to deliver a leading edge trade experience.
While
the magnitude and duration of the COVID-19 pandemic and its impact on general economic conditions remains uncertain, the Company
is continuing to monitor the impact of the outbreak on its operations and financial condition. Please note that ongoing uncertainties
surrounding the impact of COVID-19 on the Company’s business, which may include the economic impact on its operations, raw
material costs, consumers, suppliers, vendors, and other factors outside of its control, may have a material adverse impact on
the Company’s financial outlook.
About
Investview, Inc.
Investview,
Inc. is a diversified financial technology and global distributor organization that operates through its subsidiaries to provide
financial education tools, content, research, and management of digital asset technology that mines cryptocurrencies, with a focus
on Bitcoin mining and the generation of digital assets. For more information on Investview and its family of wholly owned subsidiaries,
please visit: www.investview.com.
Forward-Looking
Statements
All
statements in this release that are not based on historical fact are “forward-looking statements” within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements,
which are based on certain assumptions and describe our future plans, strategies, and expectations, can generally be identified
by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,”
“could,” “seek,” “intend,” “plan,” “goal,” “estimate,”
“anticipate” or other comparable terms. These forward-looking statements are based on Investview’s current beliefs
and assumptions and information currently available to Investview and involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance, or achievements of the company to be materially different from any future
results, performance or achievements expressed or implied by these forward-looking statements. More information on potential factors
that could affect Investview’s financial results is included from time to time in Investview’s public reports filed
with the U.S. Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form
10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The forward-looking statements made in this release speak
only as of the date of this release, and Investview, Inc. (“INVU”) assumes no obligation to update any such forward-looking
statements to reflect actual results or changes in expectations, except as otherwise required by law.
Investor
Relations

Contact: Mario Romano

Phone Number: 732.889.4308

Email:
pr@investview.com

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Investview (“INVU”) Announces Record 2021 Financial Results - April 22, 2021
Current report, items 2.02 and 9.01 - April 22, 2021
Investview (“Invu”) Reports Highest Monthly Gross Revenue - April 12, 2021
Investview (“INVU”) Reports Highest Monthly Gross Revenue in Company’s History for March 31, 2021 - April 12, 2021
Investview (“Invu”) Reports New Record $3.1 Million Month In - April 1, 2021

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