Philadelphia, PA – January 9, 2018 /PRNewswire/
-- Integrated Ventures, Inc., (OTCQB:
INTV) (“Company”) is pleased to provide this
comprehensive financial update to all shareholders and investors
with the following highlights:
[Revenues]
Integrated Ventures has finished Q2 2017 with estimated revenues
of $122,786 (unaudited). These preliminary results were achieved in
only 39 days of Crypto Currency operations and consist of (1) cash
proceeds from mining operations of $27,500, (2) equipment retail
sales of $51,500 and (3) ownership of mined assets (BTC,ETH,LTC),
with market value (dated 12/31/2017) of $43,786.
[Mining Rigs]
The total number of installed mining rigs had reached 125. This
number is directly related to the availability of the electric
power, which is currently at maximum utilization capacity at both
locations. The initial number of units purchased was 150,
however it was reduced to 125, due to the unexpected price increase
by the supplier (Innosillicon), from $1,600 to $3,200. The Company
has placed a stand by purchase order for an additional 80 mining
rigs (Nemesis 6GPU/8GPU/190-220 MH/S) which will be activated, once
an additional mining capacity is secured.
[Balance Sheet]
The Company has entered 2018 with a strong Balance Sheet,
including a cash position of $130,000 (unaudited) and without any
Convertible Debt obligations.
[Convertible Debt]
As of December 31, 2017, all of the Company's outstanding
Convertible Debt has been eliminated. The process has been
accomplished as follows:
Two outstanding Convertible Debt Notes (#1/dated December 30,
2017 and #2/dated July 7, 2017) with Global Opportunity Fund
(“Lender”) were retired via Share Exchange using Viva Entertainment
Group common stock
One outstanding Convertible Debt Note (#3/dated March 28, 2017)
with the Lender was converted on 01/05/2018 into INTV shares. The
Lender had agreed to the 60 day lock-up period with volume
limitations
One outstanding Convertible Debt Note (#4/dated September 9,
2017) with Private investor was retired via cash payment by the
Company, in the amount of $5,635.88
As a part of Share Exchange transaction, the Company will
receive a cash payment in the amount of $15,000 from the
Lender.
[Business Development]
The Company is in advanced discussions with two groups in
regards to (Group 1/IT Company) engagement to complete a blockchain
software design & development for CryptoFunder and (Group
2/International Bank) to secure funding capital required to market
and fund crypto-collateralized debt instruments powered by the
CryptoFunder blockchain.
[Real Estate]
The Company has made an offer and has received a verbal
acceptance from property seller (bank) in regards to the purchase
of the 9,000 sq ft warehouse facility. This pending real estate
purchase is designed to increase the capacity of the mining
operations up to 1500 rigs. Estimated time (post purchase) for a
complete build out is 60-75 days. Monthly operating expenses
(mortgage payment) for this property will be significantly reduced
or eliminated by renting out 1,500 sq ft as an office space.
[Share Structure]
The Company's Share Structure (A/O 01/08/2018) is as follows:
(A/S) is at 40,000,000, (O/S) is at 8,388,377 and (T/Float) is at
7,308,158.
Steve Rubakh, CEO of Integrated Ventures, Inc, comments: ”Our
entry into Crypto Currency Mining business has been flawlessly
executed and we are very pleased to report that as of 01/05/2018,
the Company is officially debt free with all mining equipment and
other assets being fully paid for. The Q2/2017 report will be filed
no later then February 14, 2018. In addition, we would like to
point out that The Company has entered 2018 in the solid financial
position with the goal to establish Integrated Ventures as one of
the premier companies operating in Crypto Currency sector.”
About Integrated Ventures, Inc: the Company is
focused on acquiring, launching and operating companies in the
Crypto Currency sector, mainly in digital currency mining, an
equipment manufacturing, sales of branded mining rigs as well as
blockchain software development. For more details about please
visit www.integratedventuresinc.com.
About BitcoLab: This majority owned subsidiary
is pursuing opportunities in Crypto Currency sector with focus on
mining, hosting, pooling, manufacturing and distributing of its own
brand of rigs and the development of blockchain applications
targeting financial markets. For more details about BitcoLab, Inc ,
please visit www.bitcolab.io.
About CryptoFunder: The world's first financial
blockchain platform which acts like a decentralized and encrypted
lending ledger that offers a secure, efficient, verifiable and
permanent way of storing records and other lending information.
These protocols are the backbone of numerous digital currencies
that are being mined by the Company, including Bitcoin, Ethereum
and Litecoin. The CryptoFunder blockchain consists of qualifying,
initiating, underwriting, processing and managing funding
transactions, including tracking of digitally mined assets and
using them as a main mode of payment for loans, lending contracts
and convertible notes.
***About CryptoCurrency Investments &
Risks***:
The Company urges all current and potential investors to visit:
(1) SEC website: https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11, (2) NASAA website:
http://www.nasaa.org/44073/nasaa-reminds-investors-approach-cryptocurrencies-initial-coin-offerings-cryptocurrency-related-investment-products-caution/
and (3) FINRA website: https://www.finra.org/investors/highlights/dont-fall-cryptocurrency-related-stock-scamsto
to fully understand all risks involved in Crypto Currency
investing.
Safe Harbor Statement: The information posted
in this release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
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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