Integrated Ventures, Inc Is Expected To Report Profitability And Significant Revenue Growth Of $2,632,161 For Q1/2022.

Rhea-AI Summary

Integrated Ventures, Inc. (OTCQB: INTV) reports preliminary unaudited Q1/2022 financial results, achieving total revenues of approximately $2,632,161, surpassing 2021 revenues of $1,851,000. The gross profit is expected to be $1,559,218, driven by effective deployment of mining equipment, reduced operational costs, and access to affordable power. Key balance sheet highlights include $687,338 in cash, $9,459,265 in mining equipment deposits, and total assets of $14,719,763. The company anticipates continued revenue growth in Q2/2022.

PHILADELPHIA, Oct. 28, 2021 /PRNewswire/ -- 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 $1,851,000.
• 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

"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.

Contact: Steve Rubakh, 215-613-1111 sr@integratedventures.io

View original content:https://www.prnewswire.com/news-releases/integrated-ventures-inc-is-expected-to-report-profitability-and-significant-revenue-growth-of-2-632-161-for-q12022--301411020.html

SOURCE Integrated Ventures, Inc.

FAQ

What were Integrated Ventures' revenues for Q1/2022?

Integrated Ventures reported revenues of approximately $2,632,161 for Q1/2022.

How does Q1/2022 revenue compare to 2021 for INTV?

The revenues for Q1/2022 exceeded total revenues of $1,851,000 reported in 2021.

What is the expected gross profit for Integrated Ventures in Q1/2022?

The expected gross profit for Q1/2022 is $1,559,218.

What are key financial metrics for INTV in Q1/2022?

Key metrics include $687,338 in cash, $9,459,265 in mining equipment deposits, and total assets of $14,719,763.

What company updates can we expect from Integrated Ventures soon?

INTV plans to file its Q1 results and provide a corporate update with additional developments.

What factors contributed to revenue growth for INTV in Q1/2022?

Revenue growth was driven by high-performing mining equipment, lower operational expenses, and access to low-cost power.