dipbuy
4 weeks ago
Q1 2025 10-Q Summary
Here's a summary of the good and bad from Integrated Ventures Inc.'s Q1 2025 10-Q report:
✅ The Good
Diversification Efforts
- Integrated Ventures has shifted from a pure digital asset mining business into health and wellness via its 51% acquisition of Healthy Lifestyle USA LLC in August 2024.
- The acquisition was relatively low-cost ($350,000, partially paid in shares), with no earn-out obligations due to unmet revenue targets.
Positive Cash Flow from Investing Activities
- Net cash inflow of $1.16M from investing activities in 9M ending March 2025, driven by selling digital assets and relatively minimal capital expenditures.
Revenue Generation from New Sources
- Though digital mining revenue has fallen to $0, the company generated $409K from commissions and $16K from online sales in the 9M period, reflecting early traction in the new business line.
Reduced Depreciation and CapEx
- Depreciation dropped from $2.17M to $1.08M YoY, implying reduced wear on mining infrastructure or a transition to asset-light operations.
❌ The Bad
No Mining Revenue
- Digital asset mining revenue dropped to $0 from $4.77M YoY, as all mining operations were shut down in June 2024 due to high electricity costs.
Liquidated Nearly All Digital Assets
- As of March 31, 2025, the company holds just 0.01 BTC worth $836, down from 27.35 BTC worth $1.71M in June 2024.
- They sold off most of their Bitcoin holdings during the period, effectively exiting the digital asset sector despite it being a core part of their historical business model.
Ongoing Operating Losses
- Net loss for 9M 2025: $2.61M, although narrower than the $9.14M loss in 9M 2024. Still, the company continues to burn cash in operations ($740K outflow).
Significant Shareholder Dilution
- Shares outstanding rose to 6.14M from 5.06M just nine months agoโa nearly 22% increase, largely due to stock-based payments and liability settlements.
Negative Stockholders' Equity
- As of March 31, 2025: $5.3M deficit in stockholdersโ equity. This includes nearly $2.1M in accrued preferred dividends and substantial losses over time.
Going Concern Warning
- The report explicitly states there is โsubstantial doubtโ about the companyโs ability to continue as a going concern due to a $2.25M working capital deficit and $87.5M accumulated deficit.
Notes Payable in Default
- $500,000 note payable remains in default, with accruing interest and no indication of repayment.
Highly Concentrated Control
- CEO Steve Rubakh is the sole director and employee, receiving $487.5K in compensation for 9M 2025. Previously, he received $8.69M in cash and stock compensation in the prior 9M.
dipbuy
5 months ago
!! DILUTION WARNING !! 01/29/2025
Market Cap 3,566,111 01/29/2025
Authorized Shares 300,000,000 01/24/2025
Outstanding Shares 5,236,580 01/24/2025
Restricted 3,098,827 01/24/2025
Unrestricted 2,137,753 01/24/2025
Held at DTC 2,084,451 01/24/2025
Float 1,942,453 04/18/2024
Market Cap 10,128,984 01/05/2024
Authorized Shares 300,000,000 01/05/2024
Outstanding Shares 5,064,492 01/05/2024
Restricted 3,076,739 01/05/2024
Unrestricted 1,987,753 01/05/2024
Held at DTC 1,984,551 01/05/2024
Float 1,942,453 04/21/2023
Market Cap 7,199,986 11/30/2023
Authorized Shares 300,000,000 12/01/2023
Outstanding Shares 4,199,992 12/01/2023
Restricted 2,212,239 12/01/2023
Unrestricted 1,987,753 12/01/2023
Held at DTC 1,984,551 12/01/2023
Float 1,942,453 04/21/2023
Share Structure
Market Cap 6,599,987 08/30/2023
Authorized Shares 300,000,000 08/25/2023
Outstanding Shares 3,999,992 08/25/2023
Restricted 2,051,060 08/25/2023
Unrestricted 1,948,932 08/25/2023
Held at DTC 1,945,730 08/25/2023
Float 1,942,453 04/21/2023
Share Structure
Market Cap 7,791,418 07/07/2023
Authorized Shares 6,000,000 07/07/2023
Outstanding Shares 2,864,492 07/07/2023
Restricted 915,560 07/07/2023
Unrestricted 1,948,932 07/07/2023
Held at DTC 1,945,730 07/07/2023
Float 1,942,453 04/21/2023