Philadelphia, PA, October 28, 2021 (PR Newswire) – Integrated Ventures, Inc. (OTCQB: INTV), is pleased to provide preliminary unaudited financial results for the Q1/2022, ended September 31, 2021.
Preliminary results for total unaudited revenues, consisting of (1) cryptocurrency mining, (2) sales of mining equipment and (3) realized gain on sales of digital currencies, have increased to approximately $2,632,161, exceeding total revenues for 2021 of $1,851,390.
Preliminary results for total unaudited revenues, less general expenses, are expected to show gross profit of $1,559,218.
The increase in mining revenues and gross profits was primarily due to (1) deployment of high performing mining equipment, (2) decrease in operational expenses and (3) access to low cost power supply.
Additional Balance Sheet highlights, for Q1/FY2022 are as follow:
Available Cash: $687,338
Mining Equipment Deposits: $9,459,265
Digital Currencies: $1,262,080 (BTC, ETC, QNT)
Total Assets: $14,719,763
Total Stockholder's Equity: $14,719,763
Net Income Per Share: 0.007 cents
“The Company expects to file Q1 results on time along with isssuing a corporate update with additional information on all corporate developments that occured during Q1/2022. In terms of revenues, Q1/2022 was INTV's best quarter to date and the Company is confident that Q2/2022 will exceed these results. In addition, INTV is continuing to explore M&A options and seeking strategicl acquisition candidates that fit Company's business plan and accretive, reasonably valued and complementary to INTV's core business. With a robust revenue pipeline and on-going strategic initiatives, the Company is very well positioned for the rest of 2022 and beyond,” said Steve Rubakh, CEO of Integrated Ventures, Inc.
About Integrated Ventures Inc:
The Company operates as Technology Holdings Company with focus on cryptocurrency sector. Additional information is available by visiting company's website at 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 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.