Investview filed its 10-Q report with the U.S. Securities and Exchange Commission on February 16, 2021, detailing financial performance for the third quarter ending December 31, 2020. The filing included specific references to iGenius, LLC, a subsidiary formerly known as Kuvera, LLC, but omitted significant details about its cryptocurrency-related offerings.
The quarterly report did not mention EndoTech, a company reportedly involved in Investview's trading bot operations. It also left out any description of CryptoElite, a passive investment opportunity offered in partnership with EndoTech. Specifics regarding the trading bot itself were absent, as were audited financial reports for revenue generated from crypto bot trading activities.
Investview confirmed the name change of its primary subsidiary in the filing. Kuvera, LLC became iGenius, LLC on January 11, 2021. A similar change took place for Kuvera (N.I.) Limited, which was renamed iGenius Global LTD on February 2, 2021.
The filing described iGenius as a provider of financial education, technology, and research through a subscription model. These services include research, trade alerts, and live trading rooms that cover equities, options, FOREX, ETFs, binary options, crowdfunding, and cryptocurrency sector education. The company also stated it offers software applications for debt reduction, savings, budgeting, and tax management. Each product subscription bundles trading tools, research, and personal finance management tools.
This detailed description of iGenius's business notably excluded any mention of the CryptoElite passive investment opportunity. It also made no reference to the ndau passive investment opportunity, both of which were available through Investview's Kuvera Global arm since at least November 2020. The gap between the publicly offered products and the SEC disclosures raises questions about the completeness of the financial picture presented to regulators.
Investview recorded a net income of $1.72 million for the quarter ending December 31, 2020. This positive figure contrasted with $4.3 million in losses incurred for the financial year-to-date.
The 10-Q filing did include a general statement on cryptocurrency holdings. Investview states it holds "cryptocurrency-denominated assets" as "other current assets" on its consolidated balance sheet. These assets are recorded at fair market value, with changes recognized as unrealized gains or losses. For the nine months ending December 31, 2020, the company reported a realized loss of $27,582 and an unrealized gain of $458,037 on these holdings. No specific breakdown of these assets or their connection to specific investment programs appeared in the report.
The February 16, 2021, SEC filing from Investview did not clarify the role of EndoTech in its operations, nor did it provide specific financial details for the CryptoElite or ndau passive investment programs offered to its subscribers.