Integrated Ventures Releases Unaudited Revenue Results And Announces Reverse Stock Split

Rhea-AI Summary

Integrated Ventures, Inc. (INTV) has announced a 1-for-125 reverse stock split approved by Finra, effective immediately, with trading on the OTCQB Market switching to 'INTVD' for 20 business days before reverting to 'INTV'. This will reduce outstanding shares from 357,574,561 to 2,860,596 and authorized shares from 750,000,000 to 6,000,000. The company also reported impressive preliminary mining revenues for Q3/2023, totaling $1,472,813, a significant increase from $370,292 in Q2/2023, marking over 250% growth. The total Bitcoin generated was 63.85. CEO Steve Rubakh anticipates further revenue growth in Q4/2023, projecting over $1,700,000. These developments position INTV as an attractive merger candidate for private companies looking to publicize and raise capital.

Positive

• Q3/2023 mining revenue reached $1,472,813, up over 250% from Q2/2023.
• Total Bitcoin generated in Q3/2023 was 63.85.
• Projected Q4/2023 revenues expected to exceed $1,700,000.
• Reduction of outstanding shares enhances share value post-reverse split.

Negative

• The necessity of a reverse stock split may indicate previous share price struggles.
• The significant reduction in authorized shares could limit future capital raising efforts.

PHILADELPHIA, April 21, 2023 /PRNewswire/ -- Today, Integrated Ventures, Inc. ("INTV") ("Company") is providing this Corporate Update, regarding Reverse Stock Split and Preliminary Revenue results for Q3/2023:

> Reverse Stock Split:
The Company received approval from Finra to effectuate a 1-for-125 reverse stock split of its outstanding and authorized shares of common stock. Today, INTV's common stock will begin trading on a reverse stock split-adjusted basis on the OTCQB Market, when the stock market opens. For 20 business days, Integrated Ventures's common stock will trade on the OTCQB, under the symbol "INTVD" and then change back to INTV. As a result of the reverse stock split, every one hundred twenty five pre-split shares of common stock outstanding will automatically combine into one new share of common stock, without any action on the part of the shareholders.

Following the consummation of the reverse stock split: (1) the number of issued and outstanding shares of common stock will be reduced from 357,574,561 to 2,860,596 and (2) the number of authorized shares will be reduced from 750,000,000 to 6,000,000. No fractional shares will be issued in connection with the reverse stock split. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole post-split share and no shareholders will be eligible to receive cash in lieu of fractional shares.

> Mining Revenue Results:
The Company is pleased to provide preliminary and unaudited results for its crypto mining operations, covering period of 01/01/23 thru 03/31/23:

Revenues for January: $446,313.00
Qty of BTC generated: 21.4018

Revenues for February: $489,204.00
Qty of BTC generated: 21.0044

Revenues for March: $537,296.00
Qty of BTC generated: 21.4384

Steve Rubakh, CEO of Integrated Ventures provides this commentary: ""In terms of total mining revenues, Q3/2023 was one of better quarter's to date, since launching crypro mining operations, mainly due to commencing of operations in Wolf Hollow, TX. The key unaudited financial results are as follow: (1) total mining revenues for Q3/2023 were $1,472,813.00 vs $370,292.00 for Q2/2023, (2) total qty of BTC generated was 63.85 and (3) revenue growth for period of Q2/2023 thru Q3/2023 was over 250%. INTV projects that Q4/2023 will show additional growth with revenues exceeding $1,700,000. We believe that due to (1) INTV's current share pricing structure, (2) clean balance sheet and (3) size of assets, the Company has became a very attractive merger candidate for private companies, looking go public, raise capital and to uplist to Nasdaq."

> About:
Integrated Ventures,Inc is a Technology Portfolio Holdings Company that develops, acquires, operates and invests in businesses, primarily in the technology and entertainment sectors with focus on e-commerce, information technology and cryptocurrency mining. Company's current, revenue generating operations consist of digital currency mining and hosting. The management team is focused on implementing innovative and profitable strategies, creating liquidity through asset based infrastructure, supporting and improving operations, infusing growth capital, maintaining and expanding a market presence in the niche sector initiatives.

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:  sr@integratedventures.io, (215) 613-9898

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SOURCE Integrated Ventures, Inc

FAQ

What is the reverse stock split ratio for Integrated Ventures (INTV)?

Integrated Ventures has announced a 1-for-125 reverse stock split.

What were Integrated Ventures' (INTV) mining revenues for Q3/2023?

The preliminary mining revenues for Q3/2023 were $1,472,813.

How much Bitcoin did Integrated Ventures (INTV) generate in Q3/2023?

Integrated Ventures generated a total of 63.85 Bitcoin in Q3/2023.

What are the future revenue projections for Integrated Ventures (INTV) in Q4/2023?

Integrated Ventures projects revenues exceeding $1,700,000 in Q4/2023.

What will happen to Integrated Ventures' (INTV) stock symbol after the reverse stock split?

After the reverse stock split, INTV will initially trade as 'INTVD' for 20 business days before reverting back to 'INTV'.