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Friday, May 08, 2020 9:25:10 AM
Integrated Ventures's Releases Preliminary Results For Q3/2020 Featuring 50% Revenue Growth And 87% Reduction In Operational Expenses
May 8, 2020
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INTVCORP
PHILADELPHIA, May 10, 2020 /PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTV) (“Company”) is pleased to confirm the filing date of 05/11/2020 for Q3 (“Form 10Q”) Report, for financial period ,ended March 31, 2020.
Key financial highlights are listed below:
• 50% Revenue Growth ------- For the 9 months, ended March 31, 2020, the Company had generated total revenues of $374,052 vs $249,319, for 9 months, ended March 31, 2019.
• 61% Reduction In Liabilities --------- Company's reported total liabilities of $866,951, as of March 31, 2020 vs total liabilities of $2,208,259, as of June 30, 2019. For the same financial periods, the Company reported reduction in total derivative liabilities from $1,617,774 to $254,528.
• 67% Net Loss Reduction --------- The Company's net loss for the 9 months, ended March 31, 2020 has been reduced to $573,580, from $1,829,154, for the 9 months, ended March 31, 2019.
• 94% Reduction In Fully Diluted Loss Per Share --------- The Company's net loss per common share, for the 9 months, ended March 31, 2020, has been reduced to $0.01, from $0.17, for the 9 months, ended March 31, 2019.
• 87% Reduction In Operating Expenses --------- The Company reduced its total operating expenses, from $3,168,351, for the 9 months, ended March 31, 2019 to $399,990, for the 9 months, ended March 31, 2010.
• 82% Decrease In Compensation -------- For the 9 months, ended March 31, 2020 vs 9 months, ended March 31, 2019, the Company has reduced Management's Stock Based Compensation, from $669,000 to $120,000.
• As of March 31, 2020, the Company had $101,337 in Cash and Total Assets were at $863,735.
• As of March 31, 2020, the Company reported Total Stockholders’Deficit of $3,216 vs Total Stockholders’ Deficit of $1,088,343 for the period, ended March 31, 2019.
Steve Rubakh, CEO, adds the following commentary: “For the 9 months, ended March 31, 2020 vs the 9 months, ended March 31, 2019, total revenues grew at 50% rate. The Company had safely navigated the Covid-19 pandemic, while maintaining stable operations and pursuing value priced strategic M&A transactions. Integrated Ventures has executed 2 NDA agreements with revenue companies and in process of performing a standard due diligence. Combined numbers for 2019 for both targets, show over 11 meg of deployed power and 5.5 mil (hosting and mining operations) in trailing revenues. Once operational and financial analysis is completed, the Company plans to update public with final plans going forward.”
Recent INTV News
- Integrated Ventures Files Q3/2024 With Mining Revenues Of $1,983,250 And Positive Earnings Of $0.05 Cents Per Share • InvestorsHub NewsWire • 05/15/2024 02:30:00 PM
- Integrated Ventures Delivers 376% Q2-to-Q1 Growth With Revenues Of $1,728,108 vs $1,059,064. • InvestorsHub NewsWire • 02/08/2024 01:30:00 PM
- Integrated Ventures Reports Preliminary Q1/2024 Revenue Results Of $1,059,064 vs $555,365 for Q1/2022 • InvestorsHub NewsWire • 11/10/2023 01:30:00 PM
- Integrated Ventures Buys Additional Miners With Focus On $7 Million In Yearly Revenues • InvestorsHub NewsWire • 11/08/2023 01:30:00 PM
- Integrated Ventures Reports $3,862,849 In Yearly Mining Revenues With 162 Bitcoins Produced • InvestorsHub NewsWire • 09/29/2023 02:00:00 PM
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