Integrated Ventures Inc (INTV)

[ClearThinker]

INTV APPEARS TO BE SELLING MOST OF ITS CRYPTO : "Common_centz" Thank you for pointing this out. The theft was an interesting announcement. I doubt the company uses multiple wallets, unless they are mining some obscure currencies.

The $33,000 theft had me perplexed: According to the numbers, at the end of Sept 30, 2019 report, Page 4 shows INTV claimed to mine $107,465 in digital currency, or the equivalent of approximately 13 Bitcoin, or approximately 607 ETH.

So they mined $107K and lost $33K in crypto. That should leave $74K in crypto assets (approx ~418 ETH or ~9 BTC).

Now go back to the document and look at the crypto currency digital assets for the end of Sept 30, 2019 (ASSETS page 3)

"Digital currencies: $9,745" (That's ~1 BTC or ~55 ETH)

That's a discrepancy of $65,000. Or ~8 BTC or ~363 ETH.

That's more money in crypto that left the company than the theft itself. That suggests to me INTV is selling its crypto assets. Leaving itself with next to zero crypto at the end of EACH QUARTER.

--- > June 30 shows the company mined $48,000 in crypto and was left with a mere $2 (Two Dollars) in crypto at the end of the period. (Page 3: ASSETS)

That can only mean one thing: INTV is selling nearly all of its crypto to pay off debts.

If true, the winner is the long term holder of crypto, not INTV, nor it's shareholders. I would expect someone close to the company would be siphoning this off in a handsome deal. Crypto is completely traceable, so all the transactions are in the ledger for ETH and BTC. So whomever is getting this can be found out if need be.

It's right there, on the document. All that crypto the company's mining for the last 2 year would be worth more over time (even with the diluted shares)....are GONE.

I used to be really bullish on this company and it's goals. As long as the company retained the crypto assets, a significant hike in the BTC price would spike the stock price. INTV could sell both crypto and stock at such time to pay off debts and be way ahead of the game, showing nice revenues and profits. But if there is nearly no crypto in the cupboard, that entire argument is made moot.

The smart money, which is the BIG money, will end up staying away. What is left is dumb money. Dumb money and penny stocks never end well. Never.


SEC Financials for INTV https://www.sec.gov/Archives/edgar/data/1520118/000147793219006554/intv_10q.htm#ITEM%204.%20MINE%20SAFETY%20DISCLOSURES