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| 8-K - CURRENT REPORT - Investview, Inc. | invu_8k.htm |
EXHIBIT 99.01
Marching Towards Profitability
Investview
Releases Q2 Financials
Salt Lake City, November 20, 2018 – Investview Corporation
(OTCQB: INVU) released its second quarter financial report of
fiscal 2019 for the period ending September 30th,
2018.
Highlights of the financial report include:
●
Gross Billings increased to $20,327,241 for the six-month period ending September
30th
representing a 190% increase
as compared to gross billings of
$7,017,677 for the period ending September 30th,
2017.
●
Net Revenue for six months ended September
30th,
2018 was $15,609,569 representing an increase of $9,016,462 or
137%
over the same period last
year.
●
The Company recorded Other Income of $2,127,059
for the six-month period ending September 30th,
2018 which was a difference of $6,109,695 or an increase of 153%
over the same period last year which reported Other Expenses of
$3,982,636. This change is due to the recorded purchase of United
Games, LLC and United League, LLC on July 20th,
2018. Additionally, in the prior period there was a loss on debt
extinguishment of $2,767,422 and the loss on spin-off of operations
of $1,118,609 during the six months ended September 30, 2017, as
compared to no such expense in the current
period.
●
The acquisition represented Other Income for the
quarter of $1,985,690 (3-month period ending September
30th,
2018) which was a difference of $2,147,185 or a gain of 1,330% from
the prior period which reported Other Expenses of
$161,495.
●
Net Income for the quarter ending September
30th,
2018 was $858,711 versus a loss of ($1,457,172) for the same period
last year.
The
Company attributes the increase in Net Revenue and Gross Billings
to the increase of subscription sales worldwide. Other Income is a
direct result of the successful acquisition of United Games and
United League companies.
“We are pleased to
report a profitable quarter demonstrating our focus on expense
management and acquisitions that are accretive to the
company’s objectives and ultimately shareholder
value,” said William
Kosoff, Chief Financial Officer.
Mario Romano, Director of Finance added, “Increased revenue,
increased billings and a profitable quarter may be cause for
celebration, but we are focused on executing key initiatives that
will support continued growth while tightly managing margins to
deliver consistent results, one quarter at a
time.”
Investview’s
full 10-Q can be found by visiting the following edgar
link:
https://www.sec.gov/Archives/edgar/data/862651/000165495418012666/0001654954-18-012666-index.htm
About Investview, Inc.
Investview,
Inc. is a diversified financial technology organization that
operates through its wholly -owned subsidiaries, to provide
financial products and services to individuals, accredited
investors and select financial institutions. www.investview.com
Kuvera
LLC for personal money management and education services.
www.kuveraglobal.com
United
Games LLC for social mobile app and live interaction services.
www.unitedgames.com
SAFE
Management LLC for investment advisory services.
Forward-Looking Statements
Certain
statements in this press release may constitute
“forward-looking statements”. When the words
“believes,” “expects,” “plans,”
“projects,” “estimates,” and similar
expressions are used, they identify forward-looking statements.
These forward-looking statements are based on Management’s
current beliefs and assumptions and information currently available
to Management 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. Information concerning factors
that could cause our actual results to differ materially from these
forward-looking statements can be found in our periodic reports
filed with the Securities and Exchange Commission. We undertake no
obligation to publicly release revisions to these forward-looking
statements to reflect future events or circumstances or reflect the
occurrence of unanticipated events.
Investor Contact:
pr@investview.com