Philadelphia, PA – September 24, 2021 /PRNewswire/ -- 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.
Cryptocurrency mining revenues, mostly during Q3 and Q4, increased to $1,851,390.00 from $454,170.00.
Additional financial highlights, for the period, ending 06/30/2021 vs 06/30/2020, are as follow:
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, adds the following commentary:
“INTV had 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.