Integrated Ventures Reports 2021 Revenues Of $1,851,390 And Shareholder's Equity Of $13,363,965

Rhea-AI Summary

Integrated Ventures, Inc (OTCQB: INTV) reported a remarkable 308% increase in year-to-year revenues, totaling $1,851,390 for the fiscal year ended July 30, 2021. The company's total shareholder's equity surged by 2,344% to $13,363,965, driven by significantly enhanced cryptocurrency mining operations. Key financial metrics include a gross profit of $931,014 and a notable increase in cash reserves to $2,097,537. Looking ahead, INTV projects revenues exceeding $35 million for 2022, with strong operational margins.

Positive

• Year-to-year revenues increased by 308%, reaching $1,851,390.
• Total shareholder's equity grew by 2,344% to $13,363,965.
• Gross profit from mining operations rose to $931,014 from a loss of $542,239.
• Total cash rose significantly to $2,097,537 from $6,675.
• Total liabilities were reduced to $274,083 from $656,425.

Negative

• None.

PHILADELPHIA, Sept. 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.

YEAR TO YEAR REVENUES INCREASED BY 308% AND SHAREHOLDER'S EQUITY GREW BY 2,344%.

Additional financial highlights, for the period ending 06/30/2021 vs 06/30/2020, are as follow:

• Cryptocurrency mining revenues, mostly during Q3 and Q4, increased to $1,851,390.00 from $454,170.00.
• 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,Inc, adds the following commentary:

"INTV has 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

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.

Contact Details:
+1 215-613-1111
sr@integratedventures.io.

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SOURCE Integrated Ventures, Inc

FAQ

What were Integrated Ventures' revenues for 2021?

Integrated Ventures reported revenues of $1,851,390 for the fiscal year ended July 30, 2021.

How much did Integrated Ventures' shareholder's equity increase in 2021?

The company's shareholder's equity surged by 2,344%, reaching $13,363,965.

What is Integrated Ventures' projection for 2022 revenues?

INTV projects revenues to exceed $35 million for the year 2022.

How did Integrated Ventures' gross profit change from 2020 to 2021?

The gross profit from mining operations increased to $931,014 in 2021, compared to a loss of $542,239 in 2020.

What was the status of Integrated Ventures' total cash as of July 30, 2021?

Total cash increased to $2,097,537 from $6,675.