INTEGRATED VENTURES REPORTS 2021 REVENUES OF $1,851,390 AND SHAREHOLDER'S EQUITY OF $13,363,965.
September 24 2021 - 9:15AM
InvestorsHub NewsWire
INTEGRATED
VENTURES REPORTS 2021 REVENUES OF $1,851,390 AND SHAREHOLDER'S
EQUITY OF $13,363,965.
Philadelphia, PA – September 24, 2021 --
InvestorsHub NewsWire -- Integrated Ventures, Inc, (OTCQB:
INTV), (“Company”) is pleased to confirm the filing of Annual
Report (Form 10K), after the market close, on 09/24/2021, for
financial period, ending on July 30, 2021.
YEAR TO YEAR
REVENUES INCREASED BY 308% AND SHAREHOLDER'S EQUITY GREW BY
2,344%.
Additional financial highlights, for the period ending
06/30/2021 vs 06/30/2020, are as follow:
-
Cryptocurrency mining revenues, mostly during Q3 and Q4,
increased to $1,851,390.00 from $454,170.00.
-
Gross Profit: excluding operational expenses, related to the
non-cash (stock based) management's employment and consultant's
compensation, the Company reported a gross profit from mining
operations, in the amount of $931,014.00 vs loss of
($542,239.00).
-
Total Cash: the Company had reported increase in the total cash
on Balance Sheet, to $2,097,537.00 from $6,675.00.
-
Total Shareholder's Equity or Assets: the Company reported
increase in the total assets on Balance Sheet, to $13,363,965.00
from $546,822.00.
-
Total Liabilities: the Company reported reduction in total
liabilities to $274,083.00 from $656,425.00.
-
Shareholder's Equity: the Company reported increase in the total
Shareholder's Equity, to $5,145,938.00 from $546,822.00.
-
Digital Currencies Holdings were at $245,320 vs $82,855.00. As
of 09/01/2021, INTV had over $2.0 million of digital currencies on
its Balance Sheet.
Steve Rubakh, CEO of Integrated Ventures,Inc, adds the following
commentary:
“INTV has delivered a best year to date results, in terms of (1)
mining revenues, (2) mining equipment purchases of miners made by
Bitmain, Canaan and WhatsMiner, (3) shareholder's equity and asset
growth and (4) equity based capital raised. In addition, our
revenues for Q1/2022 are tracking over $1.8 million.
Must be noted again that mining revenues for 2021 have increased
by 308%, while operational costs and total liabilities were
significantly reduced. The Company ‘s shareholder’s equity, key
component to the Nasdaq uplisting process, has reached $13.36
million. Based on our Bitmain contract and current cryptocurrency
market pricing trend, INTV projects that total revenues for 2022,
shall exceed $35m, with 60%+ operational margins and solid cash
flow.
Future is bright and very defined - INTV is well capitalized and
positioned to move forward, while aggressively expanding its
operations and targeting $70m, in total revenues, by the year
2022.”
About: Integrated Ventures, Inc is Technology
Portfolio Holdings Company with focus on Blockchain Technology and
Cryptocurrency Mining. For more details, please visit the Company's
website: www.integratedventuresinc.com.
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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