Philadelphia, PA --
November 14, 2022 -- InvestorsHub NewsWire -- Integrated
Ventures, Inc. ("INTV")
("Company"), is scheduled to report Q1/2023 financial results, on
11/14/2022, for the financial period, ended September 30,
2022.
"INTV's financial results for Q1/2023 were driven by national
economic policies, resulting in higher inflation and interest
rates, thus creating bear market and on-going weakness in stock and
crypto markets. In particular, 50%+ decrease in the market price of
Bitcoin, had severly effected our mining revenues. On positive
note, once all our miners, located in TX, are energized, we are
confident that our daily cash flow will be sufficient, to maintain
stable and profitable operations.
In order to increase shareholder's value, the Company is planning
to diversify its business strategy, by adapting an aggressive
roll-up plan with focus on investing,
acquiring and operating cash flow positive businesses, primarely in
following sectors: (1) e-commerce, (2) information technology and
(3) commercial distressed real estate, suitable for data center
operations,"
said Steve Rubakh, CEO of Integrated Ventures, Inc.
Q1/2023 vs Q1/2022 - Financial Highlights:
• Total Mining Revenues -------
the
Company had generated revenues of $555,365.00 vs
$1,040,071.00.
• Gross Profit ---------
the
Company reported gross loss from mining operations and sales of
mining equipment, in the amount of $213,527.00 vs profit of
$842,145.00.
• Current Liabilities ---------
As of September 30, 2022, the Company reported total current
liabilities of $1,964,813.00 vs $1,563,756.00.
• Loss From Operations ---------
the Company reported loss from operations of $606,800.00 vs profit
of $630,766.00.
Total Operating Expenses ---------
the Company reported that its total operating and administrative
expenses were $393,273.00 vs $211,379.00.
•
Total Cash ---------
As of September 30, 2022, the Company's ending cash balance was
$141,088.00 vs $490,280.00.
•
Total Digital Currencies ---------
As of September 30, 2022, the Company had a balance of $29,783.00
vs $72,885.00.
•
Total Assets ---------
As of September 30, 2022, the Company reported that the total
assets reported on balance sheet were $15,949,983.00 vs
$16,281,063.00.
Q1/2023 – Operational Update:
-
As of 09/30/2022, all
Bitmain miners have been paid for and were delivered to Wold
Hollow, TX for scheduled deployment by Compute North.
Unfortunately, due to deteriating financial conditions, Compute
North was forced to declare Chapter 11 and stop the energization
process.
-
On 11/04/2022, all
infrastructure assets and liabilities, owned by Compute North and
located in Kearney, NE and Wolf Hollow, TX have been acquired by
Generate Capital – the original lender, who initially financed
Compute North's operations.
-
US Bitcoin has been
engaged to provide facility management services and to manage the
process of connecting all mining equipment, located at Wolf Hollow,
TX, to the Texas grid, managed by ERCOT. Timeline, to get Company's
miners energized, will be available, once operational transition
from Compute North to US Bitcoin is completed.
About: Integrated
Ventures,Inc is a Technology Portfolio Holdings Company
that develops, acquires, operates and invests in businesses,
primarily in the technology sector with focus on e-commerce,
information technology, data center design and cryptocurrency
mining. Company's current, revenue generating operations consist of
digital currency mining and hosting. The management team is focused
on implementing innovative and profitable strategies, creating
liquidity through asset based infrastructure, supporting and
improving operations, infusing growth capital, maintaining and
expanding a market presence in the niche sector
initiatives.
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.
Integrated Ventures (QB) (USOTC:INTV)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Integrated Ventures (QB) (USOTC:INTV)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
