Integrated Ventures Inc (INTV)

[RJ999]

Tioga Property Question

PR dated 10/5/21 states INTV has formed a subsidiary and executed Letter of Intent to acquire 32 acre property with 5 buildings and located in Tioga, PA. Property is valued at $850,000.

https://www.otcmarkets.com/stock/INTV/news/Integrated-Ventures-Receives-Mining-Equipment-Valued-at-4110000-and-Acquires-32-Acre-Property-With-130mw-Power-Capacity?id=323819

But the latest 10-q states On December 15, 2021, the Company and Tioga Holding, LLC entered into a Property Lease and Power Purchase Agreement for the use by the Company of facilities located in Tioga, Pennsylvania. The Company’s is obligated to pay a monthly base rent of $2,500 per month plus a contractual rate per kilowatt hour of electricity consumed in the Company’s cryptocurrency mining operations. The term of the agreement is 36 months. Mining operations commenced in February 2022.

https://ih.advfn.com/stock-market/USOTC/integrated-ventures-qb-INTV/stock-news/87263080/quarterly-report-10-q

So, who owns Tioga? These statements seem to conflict with each other. It's normal for subsidiaries to pay revenue to their parent companies, but the 10-q states "Company and Tioga Holding, LLC. will pay a base rent."