United States, Feb 13, 2021 /PressRelease.cc/ — 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 a technology portfolio holdings company with a 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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SOURCE Integrated Ventures Inc.