PHILADELPHIA, April 23, 2018 /PRNewswire/ -- Integrated Ventures, Inc. (OTCQB: INTV), ("Company"), the technology holdings company with focus on cryptocurrency mining, equipment manufacturing and blockchain development is pleased to provide shareholders and investors with this corporate update, covering Q2/2017 and Q3/2018.
The Company 's financial and operational milestones are highlighted below:
- INTV has retired all convertible debt and has engaged an independent financial advisory consultant to analyze and provide an final evaluation report regarding the elimination of the related derivative liabilities
- INTV has closed an equity based and non-dilutive $160,000 funding round, by issuing Restricted Preferred Stock
- INTV has closed an equity based and non-dilutive $750,000 funding round, by issuing Restricted Preferred Stock and Warrants
- INTV has launched and funded the development of LoanFunder
- INTV has completed a purchase of assets consisting of 150 mining rigs (valued at $225,000) and $175,000 in cash from Digimine, LLC, by issuing Restricted Preferred Stock, in non-dilutive, equity based transaction
- INTV has accumulated 650 mining rigs, including a recent purchase order of 140 Antminers
Steve Rubakh, CEO of Integrated Ventures, Inc, comments:
"We are very proud of our Q3 financial accomplishments, which are scheduled to be publicly disclosed by May 15, 2018.
The Company finished Q3/2018 with estimated 8.9 million shares issued and 7.4 million shares in trading float.
The Preliminary and Unaudited Results for Q3/2018 point to a strong Balance Sheet with (1) zero convertible debt, (2) 384% increase in assets from $296,280 (a/o 06/30/ 2017) to $1,138,927 ($1,538,927 including the most recent asset purchase, a/o 04/23/2018), (3) a solid cash position of $151,951 and finally (4) 42% gross margins (for Q2/Q3, a/o 3/31/2018). Please note that financial data provided is unaudited and subject to the final review by the auditors.
As of 04/23/2018, INTV had 175 mining rigs that are connected and generating revenues. We expect to finish build outs of Paul St, PA (2,500 sq ft) and Boundary Rd, NJ (5,900 sq ft) locations in next 30 days and plan to connect remaining 475 mining rigs, by early June of 2018."
About Integrated Ventures, Inc.: A technology holdings company with focus on acquiring, launching and operating companies in the cryptocurrency sector ("BitcoLab"), mainly in digital currency mining, equipment manufacturing, sales of branded mining rigs ("Nemesis") and blockchain software development ("LoanFunder").
For more details, please visit www.integratedventuresinc.com.
***About Cryptocurrency Investments & Risks***
Integrated Ventures urges all current and potential investors to visit: (1) SEC website: https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11, (2) NASAA website: http://www.nasaa.org/44073/nasaa-reminds-investors-approach-cryptocurrencies-initial-coin-offerings-cryptocurrency-related-investment-products-caution/ and (3) FINRA website: https://www.finra.org/investors/highlights/dont-fall-cryptocurrency-related-stock-scams to understand the risks involved in cryptocurrency investing.
Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the company's control.
SOURCE Integrated Ventures, Inc