Philadelphia, PA., February 14, 2023 (PR Newswire) – Integrated Ventures, Inc. (“INTV”) (“Company”) is scheduled to report quaterly financial results, after the market close on 02/14/2023, for the financial period, ended December 31, 2022.
* Mining Revenues (Q1-Q2):
For reporting (Q2) financial period, the Company had generated revenues of $370,292.00.
Total mining revenues for six months (Q1-Q2) period, were $925,657.00.
Based on BTC pricing of $22,000, INTV's monthly revenues for next quarter, projected to be over $475,000.00 and annual revenues, projected to be over $5,700,000.00 million.
* Key Balance Sheet Results (Q2):
Gross Loss for mining operations: $308,398.00.
Total Current Liabilities: $2,855,279.00 (mainly due to BHP Capital, Inc as accumulated dividends, related to Preferred Shares C, issued in 2021).
Total Loss from Operations: $763,597.00 or 0.01 cents per share.
Total Operating and Administrative Expenses: $302,251.00.
Ending Cash Balance: $86,891.00.
Total Digital Securities: $117,273.00.
Total Assets: $15,589,565.00.
* Corporate Update (Q3-Q4):
As of 01/03/2023, all Bitmain miners that were delivered to Wold Hollow, TX, have been deployed. Total number of miners, hosted in NE, PA and TX, went up by over 400%, from 625 to 2600.
The Company is considering to move forward with Reverse Stock Split, to be used to (1) raise growth capital to purchase additional mining equipment and hosting facilities, (2) to facilitate M&A transaction and (3) to complete 2-step uplist process to OTCQX and eventually to Nasdaq.
“INTV's financial results for Q2/2023 were effected by the crypto bear market and on-going weakness in stock markets. On positive note, all of our S19J Pro 104TH miners, hosted at Wolf Hollow, TX, have been energized and generating a significant cash flow. If Management decides to move forward with Reverse Stock Split, INTV intends to (1) re-submit an application with OTCMarkets, for QX uplist and (2) will proceed to procure M&A deal, required to solidify the Nasdaq uplist process,” said Steve Rubakh, CEO of Integrated Ventures, Inc.
About: Integrated Ventures,Inc is a Technology Portfolio Holdings Company that develops, acquires, operates and invests in businesses, primarily in the technology sector with focus on e-commerce, information technology, data center design and cryptocurrency mining.
Company's current, revenue generating operations consist of digital currency mining and hosting. The management team is focused on implementing innovative and profitable strategies, creating liquidity through asset based infrastructure, supporting and improving operations, infusing growth capital, maintaining and expanding a market presence in the niche sector initiatives.
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.