Philadelphia, PA - May 15, 2023 /Via PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTVD) (“Company”) is pleased to confirm the filing of Q3 Report, after the today's market close, for financial period, ending on March 31, 2023.
Key Financial Highlights are as follow:
Total Revenues: For the Q3/2023, the Company generated the revenues of $1,440,714.00 vs $964,319.00 for Q3/2022.
Unaudited Gross Profit: Excluding, one time depreciation expense of $1,469,196,00, related to the deployment of new mining equipment, starting on 01/01/2023, the gross profit from mining operations would be $463,757.00.
Total Assets: As of March 31, 2023, the Company reported the total assets, in the amount of $14,089,664.00.
Net Income Loss: Reported total loss in amount of $1,766,615.00, mainly related, to the following one time expenses: (1) loss booked, on disposition of old/damaged mining equipment, in the amount of $463,919.00 and (2) depreciation expense booked, due to recently deployed mining equipment, in the amount of $1,469,196,00.
Total Cash Available: The ending cash balance was $298,811.00.
Total Digital Currencies Holdings: As of March 31, 2023, the Company's digital curency holdings (BTC) were valued at $333,496.00.
Total Shareholder's Equity: As of March 31, 2023, the Company, reported that the total shareholder's equity was $14,089.664.00.
Reported 100% Reduction In Warrant Obligations: All outstanding warrants, due to (1) Sabby Violiatility Warrant Fund, (2) CVI Management and (3) BHP Capital, Inc, have been converted to equity.
Steve Rubakh, CEO of Integrated Ventures, Inc adds the following commentary: “INTV had increased its mining revenues, from $370,292.00 (Q2/2023) to $1,440,714.00 (Q3/2023). The total revenues for 2024, based on BTC priced at $28,000.00 and network difficulty at 48, projected to be in $6.5-7.0 million range, with over 40% in operational margins.”
About: Integrated Ventures,Inc is diversified holdings company that develops, acquires, operates and invests in businesses, focused on e-commerce, entertainment, information technology, data center design and cryptocurrency mining. Company's current, revenue generating operations consist of digital currency mining and hosting. 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.