Integrated Ventures's Releases Preliminary Results For Q3/2020 Featuring 50% Revenue Growth And 87% Reduction In Operational ...
May 08 2020 - 9:45AM
InvestorsHub NewsWire
PHILADELPHIA, PA -- May 8, 2020 -- InvestorsHub NewsWire --
Integrated Ventures Inc. (OTCQB: INTV)
(“Company”) is pleased to confirm the filing date of 05/11/2020 for
Q3 (“Form 10Q”) Report, for financial period ,ended March 31,
2020.
Key financial highlights are listed below:
• 50% Revenue Growth ------- For the 9 months, ended March 31,
2020, the Company had generated total revenues of $374,052 vs
$249,319, for 9 months, ended March 31, 2019.
• 61% Reduction In Liabilities --------- Company's reported total
liabilities of $866,951, as of March 31, 2020 vs total liabilities
of $2,208,259, as of June 30, 2019. For the same financial periods,
the Company reported reduction in total derivative liabilities from
$1,617,774 to $254,528.
• 67% Net Loss Reduction --------- The Company's net loss for the 9
months, ended March 31, 2020 has been reduced to $573,580, from
$1,829,154, for the 9 months, ended March 31, 2019.
• 94% Reduction In Fully Diluted Loss Per Share --------- The
Company's net loss per common share, for the 9 months, ended March
31, 2020, has been reduced to $0.01, from $0.17, for the 9 months,
ended March 31, 2019.
• 87% Reduction In Operating Expenses --------- The Company reduced
its total operating expenses, from $3,168,351, for the 9 months,
ended March 31, 2019 to $399,990, for the 9 months, ended March 31,
2010.
• 82% Decrease In Compensation -------- For the 9 months, ended
March 31, 2020 vs 9 months, ended March 31, 2019, the Company has
reduced Management's Stock Based Compensation, from $669,000 to
$120,000.
• As of March 31, 2020, the Company had $101,337 in Cash and Total
Assets were at $863,735.
• As of March 31, 2020, the Company reported Total
Stockholders’Deficit of $3,216 vs Total Stockholders’ Deficit of
$1,088,343 for the period, ended March 31, 2019.
Steve Rubakh, CEO, adds the following commentary: “For the 9
months, ended March 31, 2020 vs the 9 months, ended March 31, 2019,
total revenues grew at 50% rate. The Company had safely navigated
the Covid-19 pandemic, while maintaining stable operations and
pursuing value priced strategic M&A transactions. Integrated
Ventures has executed 2 NDA agreements with revenue companies and
in process of performing a standard due diligence. Combined numbers
for 2019 for both targets, show over 11 meg of deployed power and
5.5 mil (hosting and mining operations) in trailing revenues. Once
operational and financial analysis is completed, the Company plans
to update public with final plans going forward.”
Integrated Ventures,Inc.isaTechnology Portfolio Holdings Company
with main focus on Blockchain Technology and Cryptocurrency Mining.
For more details, please visit the Company's website:www.integratedventuresinc.com.
Safe Harbor Statement:
The information posted in this release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of1995. You can identify these statements by use of the
words "may," "will," "should," "plans," "explores," "expects,"
"anticipates," "continue," "estimate," "project," "intend," and
similar expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and uncertainties
include, but are not limited to, general economic and business
conditions, effects of continued geopolitical unrest and regional
conflicts, competition, changes in technology and methods of
marketing, and various other factors beyond the company's
control.
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