Investview, Inc 8-K, filed Apr 1, 2021
Investview, Inc. (INVU)
About this 8-K
Investview, Inc filed this 8-K on April 1, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
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): April 1, 2021
INVESTVIEW, INC.
(Exact name of registrant as specified in its charter)
| Nevada | 000-27019 | 87-0369205 | ||
| (State or other jurisdiction of | (Commission | (IRS Employer | ||
| incorporation or organization) | File Number) | Identification No.) |
| 234 Industrial Way West, Suite A202 | ||
| Eatontown, New Jersey | 07724 | |
| (Address of principal executive offices) | (Zip code) |
| Registrant’s telephone number, including area code: | 732-889-4300 |
| n/a |
| (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement 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
| Title of each class | Trading symbol(s) | Name 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. [ ]
EXPLANATORY NOTE
The information in this report, including the exhibit, is being furnished pursuant to Item 7.01 and Item 9.01 of Form 8-K and General Instruction B.2 thereunder. Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
ITEM 7.01—REGULATION FD DISCLOSURE
On April 1, 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 Number* |
Title of Document |
Location | ||
| Item 99 | Miscellaneous | |||
| 99.01 | Press Release dated April 1, 2021 | This filing |
| * | All exhibits are numbered with the number preceding the decimal indicating the applicable SEC reference number in Item 601 and the number following the decimal indicating the sequence of the particular document. Omitted numbers in the sequence refer to documents previously 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: April 1, 2021 | By: | /s/ Annette Raynor |
| Annette Raynor | ||
| Chief Operations Officer | ||
| 3 |
Exhibit 99.01
Investview
(“INVU”) Reports New Record $3.1 Million Month in
Bitcoin Mining Revenue & Completed its Strategic Technology Migration Project Providing Significant Improvement to Gross Margins
Investview, Inc. has completed the strategic relocation of its largest mining operation to a more cost-effective region with long-term, low cost and sustainable power rates, providing significant reduction in mining cost and further expansion to gross margins.
Eatontown, NJ, April 1, 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, expects to report that Investview’s SAFETek subsidiary has reached a new all-time-high monthly revenue and profit margin for the month of March, 2021.
| ● | SAFETek increased its Bitcoin Mining Revenue to a new all-time high of $3.1M in March, which is an estimated 32.5% increase from the $2.34M of Gross Revenue generated in February, and an estimated 12% increase from the prior all time high of $2.77M generated in January 2021. | |
| ● | SAFETek also reduced the overall cost of its mining operation by moving approximately 71% of its mining servers to a new lower fixed-cost mining location. The technology migration was completed in phases with minimal downtime in February and early March 2021. | |
| ● | As a result of the technology migration, SAFETek increased its Gross Profit Margin by an estimated 11 percentage points to 77% between January 2021 and March 2021. | |
| ● | Over the same three-month period, actual gross profits increased by 33% from $1.8M in January 2021, to $1.6M in February (during the move), to an estimated all time high of $2.4M in gross profit in March 2021. |
Rob Walther, SAFETek’s EVP of Crypto Operations also commented, “The successful technology migration of over 70% of our highest performing mining servers to a new and lower fixed cost mining facility, is the result of our ongoing strategy to run at the lowest cost possible while continually optimizing and expanding our mining equipment. This strategy has achieved tremendous results with a new all-time high Gross Revenue of $3.1M and Gross Profit of $2.4M in March 2021. This also represented a new all-time high Gross Profit Margin of 77% in March, up from approximately 66% prior to the migration. At a new lower fixed cost and with greater efficiency, SAFETek is now well positioned to facilitate greater re-investment into assets that will continue to grow our mining profits.”
Note: The numbers included in this release are initial estimated results and are un-audited and may differ from numbers reported in our SEC filings due to compliance with US GAAP, and subject to final review by the Company’s independent auditors.
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