Investview (“INVU”) Reports Strong Financial Results for the Nine Months Ended December 31, 2021
May 16, 2022 16:12 ET | Source: Investview, Inc.
- Net Revenue increased 89% to $72.2 million in 9 months ended December 31, 2021 compared to $38.3 million for the 12 months ended March 31, 2021
- Total assets increased 163% to $51.5 million at December 31, 2021 compared to $19.6 million as of March 31, 2021
- Cash and equivalents increased 475% to $31.0 million at December 31,2021 compared to $5.4 million as of March 31, 2021
- Stockholders’ Equity increased 883% to $28.9 million at December 31, 2021 versus a deficit of $3.7 million at March 31, 2021
- Current Ratio increased 121% to 2.65 at December 31, 2021 compared to 1.19 at March 31, 2021
Eatontown, NJ, May 16, 2022 (GLOBE NEWSWIRE) — Investview, Inc. ( OTCQB: $INVU ), a diversified financial technology company, is pleased to announce financial results for the nine month transition period ended December 31, 2021.
(Please note that the Company switched to a December 31st fiscal year-end in 2021. As such, the financial statements for the year ended December 31, 2021reflect nine months of activity versus twelve months of activity for the year ended March 31, 2021.)
“It was a historic, record-breaking year for Investview,” stated Victor M. Oviedo, Investview’s CEO. We are reporting a near doubling of net revenue as well as significant year-over-year growth in other key financial performance metrics. Global net revenue for the nine months of activity was $72.2 million, an increase of 89%, over the net revenues of $38.3 million for the twelve months ended March 31, 2021. This was driven by strong business momentum across all business verticals including worldwide subscription growth from iGenius, our financial education direct marketing firm and the expansion and optimization of our Bitcoin mining operations.”
Nine Months Ended December 31, 2021 Financial Highlights
- Net Revenue for the nine months ended December 31, 2021 was $72.2 million versus $38.3 million for the twelve months ended March 31, 2021, an increase of $34.0 million, or 89%.
- Net loss for the nine months ended December 31, 2021was $29.2 million, compared to a net income of $0.6 million for the twelve months ended March 31, 2021. Our net loss, however, was impacted by a one-time non-cash, non-recurring charge of $51.6 million related to the manner in which the acquisition of the proprietary Prodigio SMART Trading Platform, as well as other operating assets and intellectual property of MPower Trading Systems, was accounted for. Excluding this charge, Investview would have achieved a net income of $22.4 million, the largest in the history of the Company. Importantly, this non-cash charge had no impact on our cash flow, liquidity or capital resources.
- Cash and equivalents increased by $25.6 million, or 475% to $31.0 million at December 31, 2021, compared to $5.4 million at March 31, 2021.
- Current assets at December 31, 2021 were $35.9 million, an increase of $23.6 million or 191% compared to $12.3 million at March 31, 2021.
- Current Ratio increased 121% to 2.65 at December 31, 2021 compared to 1.19 at March 31, 2021.
- Total assets at December 31, 2021 were $51.5 million, compared to $19.6 million at March 31, 2021, an increase of 163%, or $32.0 million.
- Total liabilities decreased by $0.7 million to $22.6 million at December 31, 2021 from $23.3 million at March 31, 2021.
- Shareholders’ Equity at December 31, 2021 was $28.9 million versus a shareholder deficit of $3.7 million at March 31, 2021, an increase of $32.6 million or 883%.
- $27.7 million in Net Cash Flows generated from Operations in the nine months ended December 31, 2021.
Investview Chairman Mr. David B. Rothrock commented, “These financial results truly validate the extraordinary efforts and diligent and focused work of our company leadership team in executing and advancing our business goals and strategy. We achieved record growth across key financial metrics, which is particularly impressive considering these financial results compare a nine-month period of operations ended December 31, 2021, to the recent twelve-month period ended March 31, 2021.We are a stronger company today than ever before, in terms of our financial position, available opportunities and our experienced and seasoned executive management team and operational personnel. These financial results confirm that Investview is building a solid financial foundation which allows our executive and operational personnel to continue to focus on the achievement of the company’s strategic growth goals and to deliver value to our loyal stockholders.”
Investview Chief Executive Officer Mr. Victor M. Oviedo further stated, “We are extremely pleased with our results for the nine months ended December 31, 2021, achieving impressive growth across all our revenue streams, generating significant cash flows from operations while increasing our total assets and equity position. While the cryptocurrency markets have been highly volatile lately, our very experienced leadership team has navigated multiple market cycles. We are uniquely capable of continuing to build and execute our business strategy with multiple expanding revenue streams to support long-term, sustainable growth.”
Mr. Oviedo added, “The delay with our 10-K filing, while unfortunate, gave us the time we needed to properly account for the September 2021 acquisition of the proprietary Prodigio SMART Trading Platform, as well as other operating assets and intellectual property of MPower Trading Systems, which will also cause a brief delay in filing our first quarter 10-Q, and will require us to restate our September 30, 2021 Form 10-Q, and issue a “non-reliance” Form 8-K today relative to the required restatement of our September 30, 2021 Form 10-Q. Again, the manner in which we have accounted for the September 2021 MPower transaction will have no impact on our cash flow, liquidity or capital resources. Our internal controls and procedures are well-tuned, and we intend to regain compliance with our SEC filings, proceeding with regular and timely filings going forward.”
About Investview, Inc.
Investview, Inc., a Nevada corporation (which we refer to as “we,” “us,” “our,” “Investview,” or the “Company”), a financial technology (FinTech) services company, operates several different businesses, including a Financial Education and Technology business that delivers a series of products and services involving financial education, digital assets and related technology, through a network of independent distributors; a Blockchain Technology and Crypto Mining Products and Services business including leading-edge research, development and FinTech services involving the management of digital asset technologies with a focus on Bitcoin mining and the new generation of digital assets; and a Brokerage and Financial Markets business that is currently in the early stages but plans to expand within the investment management and brokerage industries by commercializing on the proprietary Smart Trading Platform we acquired in September 2021. For more information on Investview, please visit: www.investview.com.
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 for the year-ended December 31, 2021, 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.
Contact: Ralph R. Valvano
Phone Number: 732.889.4300
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