Replies to post #32491 on Integrated Ventures Inc (INTV)

[leftovers]

Not only that the last PR stated it was only a LOI (letter of intent) NO Purchase of any such Power Plant has taken place!

Latest News
March 18, 2019
9:00 am ET
Integrated Ventures Announces Signing Of Letter Of Intent To Acquire 80 MW Power Plant For 39 Million With Capacity To Host Up To 52,000 Mining Rigs >INTV
Dow Jones

The Volume increased over 300% and the price fell 50% since this announcement. Looks like big time dilution has already started?

How are they going to address this issue:

Asset Purchase Agreement

On April 16, 2018, the Company entered into an Asset Purchase Agreement (the “Agreement”) with digiMine LLC (the “Seller”) for the purchase of Seller’s Mining Equipment located in Marlboro, New Jersey, the principal assets of the Seller’s business consisting of 150 Bitmain Mining Machines (“Equipment”); all of Seller's or its Affiliates' right, title and interest in, the lease for the premises on which Seller’s business operates, all obligations under which we assumed at the closing on April 18, 2018; all books and records pertaining to ownership of the Equipment and Seller’s business as applicable; and cash assets of $175,000.

We also entered into a separate Security and Pledge Agreement, dated as of April 13, 2018, securing our obligations to the Seller under the Agreement.

Seller has the right (the “Put-Back Right”), at any time commencing April 1, 2019, to require that the Company redeem for cash any of Seller’s then-outstanding Preferred Shares at a redemption price equal to 72% of the Shares. The Conversion Amount on execution is equal to $1,200,000 (the “Put-Back Price”) of such Series B Preferred Shares; provided, that the Put Back Right expires with respect to any share of Series B Preferred stock at such time as the Shares for such Series B Preferred Shares are registered for resale. Each Series B Preferred Share for purposes of the Put-Back Price is equal to a fixed price of One Hundred Dollars ($100.00) per share.