Eatontown, NJ, Nov. 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Investview Corporation (INVU) released its second quarter financials (Form 10Q) yesterday reporting its second consecutive quarter of positive cash flow from operations of $2,621,853 vs. negative cash flow of $723,163 from operations for the same quarter last year. This brings the cumulative positive cash flow up to $3,524,823 for the first six months of this fiscal year vs. negative cash flow of $1,790,747 for the same six months last year.
Revenue for the quarter was $7,242,124 vs. $8,097,748 for the same comparable quarter last year, which did not include the cash proceeds of over $3.5 million from sales of the APEX product line during the quarter.
Mario Romano, Director of Finance, said, “Our second consecutive quarter of positive cash flow is extremely exciting as we take another step towards our goal of profitability. Even more impressive is that we were unable to record the $3.5 million of Apex card sales as revenue for the month of September due to US Generally Accepted Accounting Principles. Had the Apex sales been attributed to the Income Statement, the revenue for the quarter would have been over $10 million.”
This performance was delivered during a quarter where major senior management changes were initiated along with the launch of two subsidiaries: Apex Tek and SAFETek.
“Change is inevitable as a Company strives to generate growth and profitability. Change is uncomfortable and disruptive but those who embrace the chaos will be able to achieve extraordinary accomplishments. Our entire team demonstrates a commitment to execution in the midst of massive change to reach our goals,” said Annette Raynor, Investview CEO.
About Investview, Inc.
Investview, Inc. is a diversified technology company leveraging the latest innovations in technology for financial education, services and interactive tools. Investview’s family of subsidiaries focus on delivering products that serve individuals around the world. From personal money management, to advancement in blockchain technologies, Investview companies are forging a path for individuals to take advantage of financial and technical innovations. For more information on Investview and all of its wholly owned subsidiaries please visit: investview.com
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. Except as required by federal securities laws, 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.