Integrated Ventures Reports Combined Q1 And Q2 Revenues Of $389,872 For Financial Period Ending December 31, 2020.
13 February 2021 - 01:15AM
InvestorsHub NewsWire
PHILADELPHIA, PA -- February 12, 2021 --
InvestorsHub NewsWire -- Integrated Ventures Inc. (OTCQB: INTV),
(“Company”) is pleased to confirm the filing
of Q2/2020, after the today's market close, for
financial period, ending on December 31,
2020.
Key Q1 Financial
Highlights:
• Total
Revenues ------- For the Q1/-Q2/2020, the Company had
generated total revenues of $389,872.00 vs $243,142.00 for
Q1-Q2/2019. The revenues for 2020 consist of mining revenues, sales
of mining equipment and gains on sales of digital
currencies.
• Gross
Profit --------- For Q2/2020, the Company reported gross
profit from mining operations and sales of mining equipment in the
amount of $19,074.00.
• Current
Liabilities --------- As of December 31, 2020,
the Company reported total current liabilities of
$558,292.00, with only $77,081 that require cash
payment.
• Loss From
Operations --------- For Q2/2020, the Company reported loss
from operations of $72,954.00 vs loss of $216,599.00 for
Q2/2019.
• Loss Per
Share --------- The Company reported $0.00 net loss per
common share.
• Operating
Expenses --------- For Q2/2020, the Company reported that
its total operating and administrative expenses were
$92,028.00.
• Total Cash
--------- As of December 31, 2020, the Company
reported that the ending cash balance was $53,052.00,
.
• Total Digital
Currencies --------- As of December 31, 2020, the Company
had a balance of $123,980.00.
• Total
Assets --------- As of December 31, 2020, the Company
reported that the total assets reported on balance sheet were
$692,494.00 and had purchased $381,343.00 worth of mining
equipment.
Steve Rubakh, CEO of Integrated Ventures,
adds the following commentary:
-
-
The Company estimates, based on daily results and
current market prices of major cryptocurrencies, that Q3/2020
mining revenues will be in the range of $400,000.00 to $500,000.00,
with profit margins above 65%.
-
During Q1/2020, the convertible debt obligations
were greatly reduced. The Company projects the balance sheet to be
100% convertible debt free, by
03/15/2021.”
About:
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.
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.
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