2024 Q3 Form 10-Q Financial Statement

#000149315224031587 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024 Q1
Revenue $11.74M $13.11M $15.67M
YoY Change -38.74% -24.05% 15.52%
Cost Of Revenue $1.304M $2.142M
YoY Change -49.65% 14.08%
Gross Profit $11.80M $13.53M
YoY Change -19.54% 15.75%
Gross Profit Margin 90.05% 86.33%
Selling, General & Admin $2.048M $2.588M $11.80K
YoY Change -18.33% -10.48% -95.33%
% of Gross Profit 21.92% 0.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.123M $1.178M
YoY Change 1.64% 21.3%
% of Gross Profit 9.52% 8.71%
Operating Expenses $12.44M $12.65M $13.80M
YoY Change -26.5% -21.17% 4.76%
Operating Profit -$698.5K $455.1K $1.870M
YoY Change -131.14% -62.36% 376.7%
Interest Expense -$304.7K -$38.05K
YoY Change -8.55% -112.32%
% of Operating Profit -66.95% -2.03%
Other Income/Expense, Net -$16.87K $346.8K $299.6K
YoY Change -124.16% 286.61% 170.92%
Pretax Income -$715.4K $801.9K $2.170M
YoY Change -130.93% -38.25% 331.45%
Income Tax $95.29K $269.1K $500.1K
% Of Pretax Income 33.55% 23.04%
Net Earnings -$810.6K $532.8K $1.670M
YoY Change -140.36% -10.81% 309.41%
Net Earnings / Revenue -6.9% 4.07% 10.66%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 1.861B shares 1.861B shares 1.861B shares
Diluted Shares Outstanding 1.861B shares 2.897B shares 3.089B shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.19M $24.43M
YoY Change 22.21% 27.02%
Cash & Equivalents $24.45M $23.66M $24.43M
Short-Term Investments
Other Short-Term Assets $461.7K $86.28K $232.8K
YoY Change -77.45% -95.53% -88.8%
Inventory $0.00 $0.00 $0.00
Prepaid Expenses $319.7K $186.1K $643.8K
Receivables $1.872M $1.872M $1.873M
Other Receivables $538.6K $0.00
Total Short-Term Assets $30.79M $29.47M $27.80M
YoY Change 10.0% 17.12% 10.4%
LONG-TERM ASSETS
Property, Plant & Equipment $2.048M $4.061M $5.361M
YoY Change -73.53% -53.84% -34.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $41.95K $2.589M
YoY Change -98.36% -2.98%
Other Assets $76.59K $102.8K $2.675M
YoY Change -97.32% -96.39% -9.91%
Total Long-Term Assets $2.125M $4.164M $8.036M
YoY Change -79.95% -64.24% -27.75%
TOTAL ASSETS
Total Short-Term Assets $30.79M $29.47M $27.80M
Total Long-Term Assets $2.125M $4.164M $8.036M
Total Assets $32.92M $33.64M $35.84M
YoY Change -14.7% -8.62% -1.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.120M $8.399M
YoY Change 81.5% 83.57%
Accrued Expenses $272.6K $206.6K
YoY Change 6.64% -2.4%
Deferred Revenue $2.365M $2.019M $2.707M
YoY Change -15.66% -27.08% 0.66%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $465.9K $569.4K
YoY Change -84.15% -80.62%
Total Short-Term Liabilities $13.37M $12.64M $14.84M
YoY Change -3.88% 2.53% 21.86%
LONG-TERM LIABILITIES
Long-Term Debt $495.8K $498.4K
YoY Change -87.8% -89.61%
Other Long-Term Liabilities $2.620M $1.247M
YoY Change 149.34% 37.31%
Total Long-Term Liabilities $2.356M $3.116M $3.880M
YoY Change -60.93% -39.09% -32.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.37M $12.64M $14.84M
Total Long-Term Liabilities $2.356M $3.116M $3.880M
Total Liabilities $15.73M $15.75M $18.72M
YoY Change -21.13% -9.68% 4.25%
SHAREHOLDERS EQUITY
Retained Earnings -$86.80M -$85.78M -$86.11M
YoY Change -0.45% -3.61% -3.66%
Common Stock $1.859M $1.861M $1.861M
YoY Change -20.32% -29.41% -29.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.19M $17.88M $17.12M
YoY Change
Total Liabilities & Shareholders Equity $32.92M $33.64M $35.84M
YoY Change -14.7% -8.62% -1.29%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$810.6K $532.8K $1.670M
YoY Change -140.36% -10.81% 309.41%
Depreciation, Depletion And Amortization $1.123M $1.178M
YoY Change 1.64% 21.3%
Cash From Operating Activities $531.9K $4.800M
YoY Change -87.88% -1303.96%
INVESTING ACTIVITIES
Capital Expenditures $3.460K $2.903K
YoY Change -99.81% -99.53%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$3.460K -$2.903K
YoY Change -99.8% -99.53%
FINANCING ACTIVITIES
Cash Dividend Paid $174.8K
YoY Change 8.85%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.301M -$1.357M
YoY Change 106.85% 116.71%
NET CHANGE
Cash From Operating Activities 531.9K $4.800M
Cash From Investing Activities -3.460K -$2.903K
Cash From Financing Activities -1.301M -$1.357M
Net Change In Cash -773.0K $3.440M
YoY Change -138.79% -309.4%
FREE CASH FLOW
Cash From Operating Activities $531.9K $4.800M
Capital Expenditures $3.460K $2.903K
Free Cash Flow $528.5K $4.797M
YoY Change -79.66% -571.93%

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NetCashProvidedByUsedInInvestingActivities
-2385380 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
450258 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
450258 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
186359 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
483566 usd
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
1685880 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
336027 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
321585 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
23 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2658524 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1255386 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2666658 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
350192 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21142630 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21488898 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23809288 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21839090 usd
us-gaap Interest Paid Net
InterestPaidNet
464880 usd
us-gaap Interest Paid Net
InterestPaidNet
467317 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2005095 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
140500 usd
INVU Common Stock Repurchased For Payables
CommonStockRepurchasedForPayables
3571146 usd
INVU Derivative Liability Extinguished With Warrant Exercise
DerivativeLiabilityExtinguishedWithWarrantExercise
3 usd
INVU Dividends Declared
DividendsDeclared
-409670 usd
INVU Dividends Declared
DividendsDeclared
-409670 usd
INVU Dividends Paid With Cryptocurrency
DividendsPaidWithCryptocurrency
82514 usd
INVU Dividends Paid With Cryptocurrency
DividendsPaidWithCryptocurrency
88056 usd
INVU Debt And Related Party Debt Extinguished In Exchange For Cryptocurrency
DebtAndRelatedPartyDebtExtinguishedInExchangeForCryptocurrency
77538 usd
INVU Debt And Related Party Debt Extinguished In Exchange For Cryptocurrency
DebtAndRelatedPartyDebtExtinguishedInExchangeForCryptocurrency
989898 usd
INVU Recognition Of Lease Liability And Rou Asset At Lease Commencement
RecognitionOfLeaseLiabilityAndROUAssetAtLeaseCommencement
23520 usd
INVU Cryptocurrency Received From Sale Of Fixed Assets
CryptocurrencyReceivedFromSaleOfFixedAssets
9913 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_800_eus-gaap--NatureOfOperations_z6GYCMyPOs7j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_827_zWqXl25SZq8e">ORGANIZATION AND NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Organization</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investview, Inc. was incorporated on <span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_dd_c20240101__20240630_zAqeFpTgjJjf" title="Entity incorporation, date of incorporation">January 30, 1946</span>, under the laws of the state of Utah as the Uintah Mountain Copper Mining Company. In January 2005, we changed domicile to Nevada and changed our name to Voxpath Holding, Inc. In September of 2006, we merged with The Retirement Solution Inc. and then changed our name to TheRetirementSolution.Com, Inc. Subsequently, in October 2008 we changed our name to Global Investor Services, Inc., before changing our name to Investview, Inc., on March 27, 2012.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective April 1, 2017, we closed on a Contribution Agreement with the members of Wealth Generators, LLC, a limited liability company (“Wealth Generators”), pursuant to which the Wealth Generators members contributed <span id="xdx_905_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_uPure_c20170401__us-gaap--TypeOfArrangementAxis__custom--ContributionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--WealthGeneratorsLLCMember_zld6kVL5Qyt3" title="Percentage of shares contributed">100%</span> of the outstanding securities of Wealth Generators in exchange for an aggregate of <span id="xdx_90E_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20170401__20170401__us-gaap--TypeOfArrangementAxis__custom--ContributionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--WealthGeneratorsLLCMember_zGOrY44MwpT1" title="Number of shares exchanged for common stock">1,358,670,942</span> shares of our common stock. Following this transaction, Wealth Generators became our wholly owned subsidiary, and the former members of Wealth Generators became our stockholders and controlled the majority of our outstanding common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 6, 2017, we entered into an Acquisition Agreement with Market Trend Strategies, LLC, a company whose members are also former members of our management. Under the Acquisition Agreement, we spun-off our operations that existed prior to the merger with Wealth Generators and sold the intangible assets used in those pre-merger operations in exchange for Market Trend Strategies’ assumption of $<span id="xdx_90A_eus-gaap--BusinessCombinationConsiderationTransferredLiabilitiesIncurred_c20170606__20170606__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--MarketTrendStrategiesLLCMember_zoKdFINe31c8" title="Value pre-merger liabilities">419,139</span> in pre-merger liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 28, 2018, we filed a name change for Wealth Generators, LLC to Kuvera, LLC (“Kuvera”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 17, 2019, we renamed our non-operating wholly owned subsidiary WealthGen Global, LLC to SAFETek, LLC, a Utah limited liability company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 11, 2021, we filed a name change for Kuvera, LLC to iGenius, LLC (“iGenius”) and on February 2, 2021, we filed a name change for Kuvera (N.I.) Limited to iGenius Global LTD.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 20, 2021, the Board of Directors approved a change in our fiscal year from March 31 to December 31.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nature of Business</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We operate a diversified financial technology company that through its subsidiaries and global distribution network provides financial technology, education tools, content, research, and a digital asset technology company, which develops, operates, and supports blockchain technologies, with a focus on the Bitcoin blockchain ecosystem and the generation of digital assets. In addition, we are planning to expand our business into the retail brokerage and financial markets industry by integrating the online brokerage trading platform we acquired in connection with our recent acquisition of Opencash Securities, LLC (“Opencash”), with the proprietary algorithmic trading platform we acquired in September 2021. Opencash is an early-stage registered broker-dealer that plans to offer investors an online trading platform to enable self-directed retail brokerage services and develop synergies with the educational content and products offered by one of our other business units.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1946-01-30
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_845_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zDs69KDQ7CVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zTwfjXZlT8Cg">Financial Statement Reclassification</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain account balances from prior periods have been reclassified in these consolidated financial statements to conform to current period classifications.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zYYT4OruR1wk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_z1t6NiR4cnGc">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of these financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zL8BmdNlcQKh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zXWzt5rTFxBk">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially expose us to concentration of credit risk include cash, accounts receivable, and advances. We place our cash and temporary cash investments with credit quality institutions. At times, such investments may be in excess of the FDIC insurance limit of $<span id="xdx_90B_eus-gaap--CashFDICInsuredAmount_iI_c20240630_zr6xXlZcO8jl" title="Cash, FDIC insured amount">250,000</span>. As of June 30, 2024 and December 31, 2023, cash balances that exceeded FDIC limits were $<span id="xdx_902_eus-gaap--CashUninsuredAmount_iI_c20240630_zlvDEa1IQfCf" title="Cash balances exceeded FDIC limits">7,073,960</span> and $<span id="xdx_907_eus-gaap--CashUninsuredAmount_iI_c20231231_zuX0lInQxwtd" title="Cash balances exceeded FDIC limits">3,778,085</span>, respectively. We have not experienced significant losses relating to these concentrations in the past.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
7073960 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
3778085 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23659262 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20912276 usd
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
150026 usd
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
230354 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23809288 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21142630 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
722324 usd
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1872000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
500000 usd
CY2024Q2 us-gaap Credit Card Receivables
CreditCardReceivables
1870000 usd
CY2024Q2 us-gaap Deposits Assets
DepositsAssets
2575492 usd
CY2023Q4 us-gaap Deposits Assets
DepositsAssets
2533538 usd
CY2024Q2 INVU Deposits Reclassified From Long Term Assets To Current Assets
DepositsReclassifiedFromLongTermAssetsToCurrentAssets
2533538 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13614831 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
14096695 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9553495 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7559872 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4061336 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6536823 usd
us-gaap Depreciation
Depreciation
2301620 usd
us-gaap Depreciation
Depreciation
2076605 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
180223 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipment
26729 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
23278 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
86276 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
585632 usd
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 usd
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2018834 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2703398 usd
INVU Gross Billingsreceipts
GrossBillingsreceipts
30278904 usd
INVU Refunds Incentives Credits And Chargebacks
RefundsIncentivesCreditsAndChargebacks
-1500306 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28778598 usd
INVU Gross Billingsreceipts
GrossBillingsreceipts
33433728 usd
INVU Refunds Incentives Credits And Chargebacks
RefundsIncentivesCreditsAndChargebacks
-2243741 usd
us-gaap Payments To Suppliers
PaymentsToSuppliers
365500 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30824487 usd
CY2024Q2 INVU Gross Billingsreceipts
GrossBillingsreceipts
13785011 usd
CY2024Q2 INVU Refunds Incentives Credits And Chargebacks
RefundsIncentivesCreditsAndChargebacks
-678330 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13106681 usd
CY2023Q2 INVU Refunds Incentives Credits And Chargebacks
RefundsIncentivesCreditsAndChargebacks
-1283330 usd
CY2023Q2 us-gaap Payments To Suppliers
PaymentsToSuppliers
86500 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17257879 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
531808 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
529054 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
3445944 usd
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
4466878 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
174836 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
0 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
0 usd
us-gaap Net Income Loss
NetIncomeLoss
2202787 usd
us-gaap Net Income Loss
NetIncomeLoss
1005299 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
409670 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
409670 usd
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
450258 usd
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
450258 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2243375 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1045887 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1957014007 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2636275605 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
471428571 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
471428571 shares
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
565000000 shares
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
565000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2993442578 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3672704176 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
532847 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
597405 usd
CY2024Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
204835 usd
CY2023Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
204835 usd
CY2024Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
225129 usd
CY2023Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
225129 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
553141 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
617699 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1860981786 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2636275719 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
471428571 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
471428571 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
565000000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
565000000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2897410357 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3672704290 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Operating Income Loss
OperatingIncomeLoss
2325506 usd
us-gaap Net Income Loss
NetIncomeLoss
2202787 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23659262 usd
INVU Working Capital
WorkingCapital
16836019 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
86276 usd
CY2023Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
5732 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3400 usd
CY2024Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
2332 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
55464 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
47617 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y7M9D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12 pure
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
68411 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
7833 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
76244 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2335 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
73909 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
73624 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
285 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
252192 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
252192 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
252192 shares
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
252192 shares
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
336027 usd
CY2024Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
247521 usd
us-gaap Share Based Compensation
ShareBasedCompensation
7252 usd
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1860981786 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1860981786 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2333356496 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2333356496 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward
1000000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.05
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
360416665 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.05
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1000000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.05
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.02
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
361416665 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.05
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.03
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
193291665 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.05
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y11M26D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y11M26D
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
854657 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1389976 usd
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
4400000 usd
INVU Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Vesting Period Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingVestingPeriodContractualTerm
P2Y7M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1178090 shares
CY2023Q4 INVU Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
0.10
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1178090 shares
CY2024Q2 INVU Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
0.10
CY2024Q2 INVU Warrants Exercisable
WarrantsExercisable
1178090 shares
CY2024Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P1Y7M24D
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The Class B Redeemable Units have no voting rights but can be exchanged at any time, within 5 years from the date of issuance, for 565,000,000 shares of our common stock on a one-for-one basis and are subject to significant restrictions upon resale through 2025 under the terms of a lock up agreement entered into as part of the purchase agreement.
us-gaap Long Term Purchase Commitment Description
LongTermPurchaseCommitmentDescription
According to marketing and legal documents provided by such third-party provider, the product protection would allow the purchaser to protect its initial purchase price by obtaining 50% of its purchase price at five years or 100% of its purchase price at ten years.
CY2024Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
2320000 usd
CY2024Q2 us-gaap Credit Card Receivables
CreditCardReceivables
1870000 usd
CY2024Q2 us-gaap Credit Card Receivables
CreditCardReceivables
1870000 usd
CY2024Q2 us-gaap Credit Card Receivables
CreditCardReceivables
1870000 usd
CY2024Q2 us-gaap Credit Card Receivables
CreditCardReceivables
1870000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
269067 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
769142 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.336 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.259 pure
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
701275 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
796337 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.540 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.422 pure
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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