8-K
Investview, Inc. (INVU)
| UNITED STATES |
|---|
| SECURITIES AND EXCHANGE COMMISSION |
| Washington, D.C. 20549 |
| FORM 8-K |
| CURRENT REPORT |
| Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Date of Report (date of earliest event reported): December 7, 2021
| INVESTVIEW, INC. | ||
|---|---|---|
| (Exact<br> name of registrant as specified in its charter) | ||
| Nevada | 000-27019 | 87-0369205 |
| --- | --- | --- |
| (State<br> or other jurisdiction of | (Commission | (IRS<br> Employer |
| incorporation<br> or organization) | File<br> Number) | Identification<br> No.) |
| 234 Industrial Way West, Suite A202 | ||
| --- | --- | |
| Eatontown, New Jersey | 07724 | |
| (Address<br> of principal executive offices) | (Zip<br> code) | |
| Registrant’s<br> telephone number, including area code: | 732-889-4300 |
n/a
(Former name or former address, if changed since last report)
| Check<br> the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under<br> any of the following provisions: | ||
|---|---|---|
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
| Securities registered pursuant to Section 12(b) of the Exchange Act: None<br><br> <br>**** | ||
| --- | --- | --- |
| Title<br> of each class | Trading<br> symbol(s) | Name<br> of each change on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (Section 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM
5.02—DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On December 7, 2021, Investview, Inc. (the “Company”), terminated the employment of Joseph Cammarata, its former Chief Executive Officer, for cause. Mr. Cammarata had been placed on administrative leave and removed from all duties and responsibilities on November 5, 2021, following the announcement of civil and criminal charges filed against him in connection with his involvement with a class action claims aggregator, Alpha Plus Recovery, LLC, an unrelated entity that is not and was never affiliated with the Company. In its notice of a for cause termination, the Company concluded that cause existed due to, among other things, Mr. Cammarata’s inability, in light of the criminal charges and related confinement, to devote his time, attention and services to the business and affairs of the Company. In conjunction with his termination from office, on December 8, 2021, Mr. Cammarata tendered his resignation from the Company’s Board of Directors. In his resignation, Mr. Cammarata offered no disagreement on any matter relating to the Company’s operations, policies or practices; however, through counsel, he has denied that grounds exist justifying the Company’s termination of him for cause, and has noticed the Company that he intends to reserve all rights arising in connection with his termination.
James R. Bell will continue to serve as the Company’s acting CEO and the Company’s Board of Directors has appointed David B. Rothrock as Chairman of the Board.
ITEM
8.01—OTHER EVENTS
On December 8, 2021, Investview, Inc., issued a press release, a copy of which is attached as Exhibit 99.01.
ITEM
9.01—FINANCIAL STATEMENTS AND EXHIBITS
The following is filed as an exhibit to this report:
| Exhibit<br><br> <br>Number* | ****<br><br> <br>Title of Document | ****<br><br> <br>Location |
|---|---|---|
| Item 99 | Miscellaneous | |
| 99.1 | Press Release dated December 8, 2021 | This<br> filing |
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document | |
| * | All<br> exhibits are numbered with the number preceding the decimal indicating the applicable SEC reference number in Item 601 and the number<br> following the decimal indicating the sequence of the particular document. Omitted numbers in the sequence refer to documents previously<br> filed as an exhibit. | |
| --- | --- |
| 2 |
| --- |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INVESTVIEW, INC. | ||
|---|---|---|
| Dated:<br> December 8, 2021 | By: | /s/ James R. Bell |
| James<br> R. Bell | ||
| Acting<br> Chief Executive Officer |
| 3 |
| --- |
Exhibit 99.1
Investview (“INVU”)Announces Termination of Employment of its former CEO
Eatontown, NJ, December 08, 2021 — Investview, Inc. (OTCQB: INVU)**—**The Board of Directors of Investview, Inc. today on December 8, 2021, Investview, Inc. (the “Company”), terminated the employment of Joseph Cammarata, its former Chief Executive Officer, for cause.
Mr. Cammarata had been placed on administrative leave and removed from all duties and responsibilities on November 5, 2021, following the announcement of civil and criminal charges filed against him in connection with his involvement with a class action claims aggregator, Alpha Plus Recovery, LLC, an unrelated entity that is not and was never affiliated with the Company. In its notice of a for cause termination, the Company concluded that cause existed due to, among other things, Mr. Cammarata’s inability, in light of the criminal charges and related confinement, to devote his time, attention and services to the business and affairs of the Company. In conjunction with his termination from office, on December 8, 2021, Mr. Cammarata tendered his resignation from the Company’s Board of Directors. In his resignation, Mr. Cammarata offered no disagreement on any matter relating to the Company’s operations, policies or practices; however, through counsel, he has denied that grounds exist justifying the Company’s termination of him for cause and has noticed the Company that he intends to reserve all rights arising in connection with his termination.Mr. Cammarata has not received any severance payment.
In order to ensure continuity going forward, on November 5th, 2021, the Company’s Board appointed David B. Rothrock as Chairman of the Board and James R. Bell as acting CEO and will work directly with the Company’s board and executive leadership group until a new leader is named. Mr. Rothrock and Mr. Bell have been on the Company’s Board since April 2020. Mr. Rothrock as Chairman of the Company will be involved in its management and executive search.
The Company said it has begun an executive search for a new CEO and that no changes in its goals or objectives are planned.
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 next generation of digital assets. Investview – driving decentralization of education and finance through a commitment to blockchain technology. 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