DRAPER, Utah, Sept. 19, 2012 /PRNewswire/ -- Investview, Inc.
(OTCBB: INVU) ("Investview") – Dr. Joseph
J. Louro, Chairman and Chief Executive Officer, announced a
definitive agreement to acquire Instilend, Inc. "Instilend".
Instilend provides electronic securities lending tools via fully
automated on-line technology to the institutional, high frequency
and retail trading communities. Through utilization of the
Instilend platforms, Matador and LendEQs, firms are now able to
provide compliance and operational efficiency, while simultaneously
creating new revenue streams. Instilend has positioned itself
as a differentiating market leader in the securities lending
space.
Dr. Louro noted that in 2008, fines for Regulation SHO
violations were only 1% of all FINRA fines representing only a few
hundred thousand dollars. In 2011, the fines were nearly
$17 million and approximately 25% of
all FINRA fines. Dr. Louro also noted that Robert J. Shapiro,
former Undersecretary of Commerce for Economic Affairs, and a
consultant to a law firm presently litigating over naked shorting,
has claimed that naked short selling has cost investors
$100 billion and driven 1,000
companies into the ground.
Randy MacDonald, President and
CFO of Investview, said, "Instilend's software prompts CFOs, at
introducing and clearing brokers, to examine new ways of maximizing
the value of their inventories of stocks for additional client
satisfaction and increased revenue streams. The software
bolts onto existing systems to preserve existing revenues but
extracts more economic rent by connecting clients to deeper pools
of liquidity, automating work-flow for negotiating rates and
documenting compliance, as well as turning static databases into
dynamic tools."
David Kelley, COO of Investview,
also observed that "traditionally, stock loan departments were
incentivized primarily on revenues from lending. This
software allows tracking of all measures of benefit for the company
for a more comprehensive view of success. For instance, we
believe Instilend clients are achieving greater economic success by
having more of their clients be able to locate stock for short
selling as well as being able to offer more of their inventory for
lending."
On September 13, 2012, Investview
entered into a Share Exchange Agreement (the "Instilend Agreement")
with Instilend. Pursuant to the terms of the Instilend
Agreement, Investview agreed to acquire 100% of the outstanding
securities of Instilend in consideration for 500,000 shares of
common stock of Investview and a Convertible Promissory Note in the
principal amount of $500,000.
The Convertible Promissory Note pays interest in kind at 5%, will
mature three years from the date of issuance and converts into
common stock at a price of $8.00 per
share. The closing of the acquisition is subject to standard
closing conditions and Instilend is required to deliver audited
financials statement for the year ended March 31, 2012 and unaudited financial statements
for the most recent quarter. The parties intend to
close the acquisition on or before October
30, 2012.
About Investview, Inc.:
Investview, Inc. provides and delivers a comprehensive
online program of investor education, offers proprietary investor
search tools and trading indicators, distributes weekly newsletters
and offers access to live weekly Trading Rooms at
www.investview.com and www.7minutetrader.com.
For more information, please contact:
Investview, Inc.
(801) 889-1800
www.gisvonline.com
Forward-Looking Statements
Certain statements contained in this press release may
constitute "forward-looking statements." Forward-looking statements
provide current expectations of future events based on certain
assumptions and include any statement that does not directly relate
to any historical or current fact. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors as disclosed in our
filings with the Securities and Exchange Commission located at
their website (http://www.sec.gov). In addition to these factors,
actual future performance, outcomes, and results may differ
materially because of more general factors. The forward-looking
statements included in this press release represent the Company's
views as of the date of this press release and these views could
change. However, while the Company may elect to update these
forward-looking statements at some point in the future, the Company
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to the
date of the press release.
SOURCE Investview, Inc.