Integrated Ventures Reports Quarterly Revenues Of $1,440,714.00
May 15 2023 - 10:00AM
InvestorsHub NewsWire
Philadelphia,
PA -- May 15, 2023 -- InvestorsHub NewsWire --
Integrated Ventures Inc. (OTCQB: INTVD),
("Company") is pleased to confirm the filing of Q3
Report,
after the today's market close, for financial period, ending on
March 31, 2023.
Key Financial
Highlights are as follow:
-
Total
Revenues: For the Q3/2023,
the Company generated the revenues of $1,440,714.00 vs $964,319.00
for Q3/2022.
-
Unaudited Gross
Profit: Excluding, one
time depreciation expense of $1,469,196,00, related to the
deployment of new mining equipment, starting on 01/01/2023, the
gross profit from mining operations would be
$463,757.00.
-
Total
Assets: As of March 31,
2023, the Company reported the total assets, in the amount of
$14,089,664.00.
-
Net Income
Loss: Reported total loss
in amount of $1,766,615.00,
mainly related, to the following one time expenses:
(1)
loss booked, on disposition of
old/damaged mining equipment, in the amount of $463,919.00 and (2)
depreciation expense booked, due to recently deployed mining
equipment, in the amount of $1,469,196,00.
-
Total Cash
Available: The ending cash
balance was $298,811.00.
-
Total Digital
Currencies Holdings: As of
March 31, 2023, the Company's digital curency holdings (BTC) were
valued at $333,496.00.
-
Total
Shareholder's Equity: As
of March 31, 2023, the Company, reported that the total
shareholder's equity was $14,089.664.00.
-
Total Current
Liabilities: As of March
31, 2023, the Company reported total liabilities of $2,875,635.00,
including the amount of $660,783.00 for acrued payroll, due to
related party.
-
Reported 100%
Reduction In Warrant Obligations: All outstanding warrants, due to (1) Sabby
Violiatility Warrant Fund, (2) CVI Management and (3) BHP Capital,
Inc, have been converted to equity.
Steve Rubakh, CEO
of Integrated Ventures, Inc adds the following commentary: "INTV
had increased its mining revenues, from $370,292.00 (Q2/2023) to
$1,440,714.00 (Q3/2023). The total revenues for 2024, based on BTC
priced at $28,000.00 and network difficulty at 48, projected to be
in $6.5-7.0 million range, with over 40% in operational
margins."
About:
Integrated
Ventures,Inc is diversified holdings company
that develops, acquires, operates and invests in businesses,
focused on e-commerce, entertainment, information technology, data
center design and cryptocurrency mining. Company's current, revenue
generating operations consist of digital currency mining and
hosting. 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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