Integrated Ventures Files Q3/2024 With Mining Revenues Of $1,983,250 And Positive Earnings Of $0.05 Cents Per Share
Integrated Ventures (OTCQB: INTV) has announced its Q3/2024 financial results, highlighting a record quarterly mining revenue of $1,983,250 and positive earnings of 0.05 cents per share. This reflects a significant improvement from Q3/2023, which saw a loss of $1,766,615. CEO Steve Rubakh emphasized the company's strong liquidity position, aimed at supporting potential M&A transactions and acquiring more efficient mining equipment. The company reported total assets of $5,947,859 and total liquid assets of $2,007,296. A new accounting standard (ASU-2023-08) was adopted for booking crypto assets using the fair value method.
- Record quarterly mining revenue of $1,983,250.
- Positive earnings of 0.05 cents per share.
- Net income of $297,283, a significant turnaround from the previous year's loss of $1,766,615.
- Strong liquidity position with total liquid assets of $2,007,296.
- Adoption of new accounting standards (ASU-2023-08) for booking crypto assets.
- Total assets decreased to $5,947,859 from $6,590,569.
- Total current liabilities increased to $3,306,111 from $2,975,452.
Steve Rubakh, CEO of Integrated Ventures, Inc, adds the following commentary:
"We are pleased to deliver a record quarterly mining revenues with positive earnings of
Financial (Year To Year) Highlights (Q3/2024 vs Q3/2023) are as follow:
- Total Mining Revenues: Company had generated the mining revenues of
$1,983,250.00 $1,472,813.00 - Net Income Profit/Loss: INTV's mining operations produced net income profit of
$297,283.00 $1,766,615.00 - Total Assets: Company reported value of the total assets, in the amount of
$5,947,859.00 $6,590,569.00 - Total Current Liabilities: INTV had reported the total liabilities (non-cash), in the amount of
$3,306,111.00 $2,975,452.00 - Total Liquid Assets (Cash+ Digital Securities): Company's ending balance was
$2,007,296.00 - Net Profit/Loss Per Share: INTV's net income (profit) per common share reported was
0.05 cents vs loss of ($1.03
About: Integrated Ventures,Inc is diversified holdings company that develops, acquires, operates and invests in businesses, focused on ai/information technology, e-commerece, 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.
Contact: (215) 613-9898, sr@integratedventures.io
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SOURCE Integrated Ventures Inc.
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