INTV Integrated Ventures Inc (QB)

Item 8.01  Other Events.

The following table, which is unaudited and has not been reviewed by the Company’s registered independent accounting firm, shows the reduction in the principal amount of debt of the Company, as of June 15, 2017, as compared with the principal amount of such debt outstanding a March 31, 2017, as reported in the Company’s quarterly report on Form 10-Q, for the period ended March 31, 2017.

During the period from March 31, 2017 through June 15, 2017, the Company’s liquidity has improved through a $113,443 net reduction in the total principal balance of convertible notes payable. The convertible notes payable were reduced by $123,443 through the conversion of debt principal into shares of the Company’s common stock and favorable debt extinguishment agreements. The net decrease in debt principal was partially offset by the issuance of a new convertible note payable for cash of $20,000 for corporate filings and working capital.

One of the convertible notes payable with a principal balance of $18,150 and 605,000 warrants to purchase common stock of the Company were exchanged by a Note Holder for approximately $53,000 of a convertible note receivable from the April 6, 2016 sale by the Company of Viva Entertainment Group, Inc. (“OTTV”), a former wholly-owned subsidiary of the Company.

The remaining approximately $53,000 convertible note receivable from the sale of OTTV will be converted by the Company into shares of OTTV common stock, which shares will be sold to provide operating capital. Initial conversions and sales of the OTTV shares have provided the Company with approximately $53,000 in cash. The Company plans to convert the remaining balance of the convertible note and sell the shares of the OTTV stock. The Company estimates to execute two additional conversions with estimated cash proceeds to the Company totaling $70,000.

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Potential investors are cautioned that, since the above changes in outstanding debt and the respective amounts of such debt shown in the table are unaudited, and include in the covered period a partial month, there can be no assurance that the assumptions in preparation of amounts shown in the table will prove to be accurate.  In light of the significant uncertainties inherent in the assumptions underlying preparation of the above table, and the lack of review by the Company’s independent audit firm, the amounts shown in the table shall not be regarded as a representation by the Company or any other person that the financial results shown will prove to be accurate. The debt principal amount changes for the period shown in the above table are not necessarily indicative of the results for the fourth quarter of the Company’s June 30, 2017 fiscal year, the Company’s entire June 30, 2017 fiscal year or for any other period.