DEBT: Originally the company was pumped as "debt free with an 8 million share float". 12-18 months ago when I saw the corrected 10Q forms, it showed a substantial change in that financial claim. The corected 10Qs showed an $11 million loss (cumulative). At the time, I did a calculation based on the assets: for INTV to break even (selling all the BTC it had in assets to be zero in debt).... Bitcoin would need to be trading at ~$335,000 ...or... ETH would have to be trading at ~$25,000.
I knew that possibility was unrealistic. I reached out to Steve but he was taciturn.
ASSETS: The following quarter I saw samething more alarming; the crypto assets from the previous quarter had been substantially reduced, sold at a time of a crypto market low. This was done just prior to the second wave rise in crypto prices. The whole point of INTV as a mining company is that all capital investments made will result in a huge windfall when crypto prices goes parabolic...PROVIDED THE COMPANY RETAINS ITS CRYPTO ASSETS IT MINES. That point is made moot if INTV is selling its crypto prematurely.
The bigger question is, when ETH was at $78, whom did INTV sell most of its ETH to????? Someone made alot of money on that deal, and INTV, along with you and I got the short end of the stick.
Since then, 10Qs show that the company has some ETH and BTC along with other crypto assets. The company is clearly mining. But with less crypto means it will require a higher BTCUSD or ETHUSD price than the numbers I mentioned above to break even.
INTV bypassed some of that by diluting the stock, massively.
DILUTION: The dilution of the stock causes great dilemmas here:
The original float was 7.9 million shares. A trading day of 1-2 million shares in volume substantially moved the needle and made prices double.
Today, the float is 20 million shares. To move the needle, you need a MINIMUM of 2 million shares in trading volume on a single day. We are trading way, way less than that in volume.
The market capitalization shows that someone can buy this company (or its assets) for a mere $500K.
FUTURE: Options
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REVERSE SPLIT: A reverse split will anger the existing investors. Reverse splits are historically very bad. Say it is a 100 to 1 reverse split and INTV opens at $1.00. By the end of the day it is $0.80, next day: $0.70, and so on, until it is $0.10 and we are back where we were, only much worse. This has ZERO upside. Even if the float goes to 2 million shares, no one will want it.
CRYPTO PRICES: Parabiloic pricing of Crypto right now according to all the TA people I know do not see that happening. Keep in mind that if INTV is tied to the BTC price, INTV should be currently trading significantly higher; $0.50-$0.75 at a minimum. INTV has decoupled itself from the price of BTC, an ominous development.
DEBT: The company needs to operate, so giving out more shares will work, but those investors will want more, so the crypto assets WILL MOST LIKELY BE SOLD. This thereby eliminates the entire essence of the company.
ASSET SALES: This is the worst outocme for investors. If Steve sells the assets, it would leave a shell company with nothing: no mining equipment, no crypto assets. Nada. This is common when share prices fall this low.
PIVOT: Another option is the company pivots to another business. There are other profitable busines models out there. There would be a downtime, but the right vehicle would turn this around.
