Integrated Ventures Reports Preliminary Q1/2024 Revenue Results Of $1,059,064 vs $555,365 for Q1/2022

Rhea-AI Summary

Integrated Ventures Inc. (INTV) to File Q1/2024 Report, Revealing $1,059,064 in Revenues and Positive Projections for 2024 Mining Revenues

Positive

• Strong Q1/2024 financial results with a significant increase in revenues compared to Q1/2022
• Positive projections for 2024 mining revenues based on BTC pricing and increase in number of miners

Negative

• None.

PHILADELPHIA, Nov. 10, 2023 /PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTV), ("Company") is pleased to confirm the plans to file Q1/2024 Report, after the market close on 11/14/2023, for financial period, ending on September 31, 2023.

Key Financial Highlights are as follow:

• Total Revenues: For the Q1/2024, the Company generated the revenues of $1,059,064 vs $555,365.00 for Q1/2022.
• Gross Loss/Profit: The gross loss from mining operations was $514,310.00 vs $213,527.00 for Q1/2022.
• Income Loss/Profit: Excluding, non-cash (common shares issued and booked at market value) expenses,  for (1) depreciation and amortization, (2) consulting services and (3) employment compensation, the gross loss from total operations was $691,692.00 vs $606,800.00 for Q1/2022.
• Total Assets: As of September 31, 2023, the Company reported the total assets, in the amount of $5,727,699.
• Total Current Liabilities: As of September 31, 2023, the Company reported the total liabilities (non-cash), in the amount of $3,055,556.00 vs $2,975,452.00 for Q1/2022.
• Total Cash Available: The ending cash balance was $57,672.00.
• Total Digital Currencies Holdings: As of September 31, 2023, the Company's digital curency holdings (BTC) were valued at $477,930.00.
• Net Loss Per Share:  Excluding, non-cash (common shares issued and booked at market value) expenses,  for (1) depreciation and amortization, (2) consulting services and (3) employment compensation, the Company's actual net loss per common share, would amount to 0.28 cents vs 0.61 for  Q1/2022.

Management's Comments:

"Ancipated Mining Revenues for 2024 are projected to increase, due to (1) BTC pricing of $37,000.00 or higher and (2) increase of number of miners coming online. Thus, taking in account network difficulty of 63T+, we are expecting revenues to be in $7.7-$7.9 million range, with over 40% in mining gross margins."

About:
Integrated Ventures,Inc is diversified holdings company that develops, acquires, operates and invests in businesses, focused on ai/information technology, 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.

Media Contact: Steve Rubakh (215) 613-9898 sr@integratedventures.io

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SOURCE Integrated Ventures Inc.

FAQ

What are the key financial highlights for Integrated Ventures Inc. (INTV) Q1/2024 report?

The company generated revenues of $1,059,064, with positive projections for 2024 mining revenues.

What are the total assets and liabilities reported by Integrated Ventures Inc. (INTV) as of September 31, 2023?

Total assets reported were $5,727,699 and total liabilities were $3,055,556.

What are the management's comments regarding anticipated mining revenues for 2024?

Management projects an increase in revenues for 2024 due to BTC pricing and increase in number of miners.