Integrated Ventures, Inc Is Expected To Report Profitability And Significant Revenue Growth Of $2,632,161 For Q1/2022.
28 October 2021 - 11:45PM
InvestorsHub NewsWire
Integrated Ventures, Inc Is Expected To Report
Profitability And Significant Revenue Growth Of $2,632,161 For
Q1/2022.
Philadelphia, PA -- October 28, 2021 --
InvestorsHub NewsWire -- 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.
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