Check this out 2 hours ago. The Inside Scoop on Integrated Ventures Inc (OTCMKTS: INTV) 0
BY BOE RIMES ON MAY 1, 2020MEDIA & TECHNOLOGY, MICRO CAP INSIDER, SMALL CAPS
Integrated Ventures Inc (OTCMKTS: INTV) is making a strong move up the charts in recent days on fast accelerating volume. The stock has quickly attracted a growing shareholder base who continue to bid this one higher.
As crypto markets recover and BTC pops over $9k a coin crypto related stocks are seeing renewed interest from Investors – some like INTV with fires in the oven have embarked on significant moves.
Integrated Ventures Inc (OTCMKTS: INTV) bills itself as a diversified holdings company that acquires, invests, launches and operates businesses, primarily in the technology sector with focus on cryptocurrency, including (1) digital currency mining and hosting, (2) manufacturing and distribution of the mining equipment and (3) blockchain development and deployment. The company 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.
INTV discontinued its prior operations and changed its business focus from its prior technologies relating to the EMS Find platform to acquiring, launching and operating companies in the cryptocurrency sector, mainly in digital currency mining, equipment manufacturing, and sales of branded mining rigs, as well as blockchain software development.
The Company is developing and acquiring a diverse portfolio of digital currency assets and block chain technologies and mining revenues commenced in November 2017. Cryptocurrencies are a medium of exchange that uses decentralized control (a block chain) as opposed to a central bank to track and validate transactions. The Company, through its wholly owned subsidiary, BitcoLab, Inc., is currently mining Bitcoin, Litecoin and Ethereum, whereby the Company earns revenue by solving “blocks” to be added to the block chain. In May 2019, INTV consolidated all of its mining operations and signed a three-year lease and power purchase agreement with PetaWatt Properties, LLC, located in upstate New York.
In February INTV announced financial results for the period, ending December 31, 2019. For the 3 months, ended December 31, 2019, the Company had generated total revenues of $134,301 vs $87,470, for period ended December 31, 2018, which equates to 54% growth rate. Company reported a significant reduction in total general and administrative expenses from $173,512, for the 3 months, as of December 31, 2018, to $87,140, as of December 31, 2019. For the 6 months, ended December 31, 2019, the Company had generated total revenues of $243,142 vs $202,715, for period ended December 31, 2018, which equates to 20% growth rate. Company reported a significant reduction in total general and administrative expenses from $730,434 (excluding one time impairment of assets charge), for the 6 months, as of December 31, 2018, to $194,525, as of December 31, 2019. As of December 31, 2019, the Company’s total assets were valued at $978,911.
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