Integrated Ventures Reports 63% Increase In Year To Year Revenues

PHILADELPHIA, Sept. 24, 2020 /PRNewswire/ -- Integrated Ventures Inc, (OTCQB: INTV) ("Company") is pleased to announce financial results for the year, ended June 30, 2020, by filing Annual Report (Form 10K) with the SEC.

Financial Highlights for FY 2020 vs FY 2019 are as follow:

    --  For the year ended June 30, 2020, the Company generated total revenues
        of $454,170, mainly during Q2 thru Q4, consisting of proceeds from
        mining operations of $435,740 and equipment of $18,430. Year to year
        revenues had increased by $175,027 or 63%, from $279,143, for the year
        ended June 30, 2019.
    --  The net loss decreased from $9,513,271 (net loss per common share was
        $0.70 cents), for the year ended June 30, 2019 to $1,081,775 (net loss
        per common share was $0.02), for the year ended June 30, 2020. The gross
        loss occurred mainly due to (1) the cryptocurrency market decline for 3
        plus quarters, (2) 4th Q event of halving event, (3) one-time expenses
        of consolidating and relocating operations and (4) short useful life
        accounting used to depreciate mining equipment assets.
    --  The total liabilities of $656,425, at June 30, 2020, decreased from
        $2,208,259, at June 30, 2019, primarily due to the decrease in
        derivative liabilities and convertible notes.
    --  The total convertible notes payable (net of discounts) of $251,384, at
        June 30, 2020, decreased from $457,147, at June 30, 2019. The total
        derivative liabilities of $164,834, at June 30, 2020, decreased from
        $1,617,774, at June 30, 2019.
    --  The general and administrative expenses of $472,399, for the year ended
        June 30, 2020, decreased from $1,823,523, for the year ended June 30,
        2019.
    --  The total stockholders' deficit, decreased to $109,603, at June 30,
        2019, from $1,088,343, at June 30, 2019.
    --  Company's investment, in mining equipment, during fiscal year, totaled
        $123,349.

Corporate Summary And Key Developments:

    --  During Year 2019, the Company (1) has terminated all operations and
        leasing agreements in PA and NJ, (2) signed a power purchase agreement
        with PetaWatt Properties, LLC and (3) relocated mining operations to
        Carthage, NY.
    --  Executed agreement with Eagle Equities, LLC for 1 mil capital raise and
        received a first tranche, in amount of $244,000.
    --  Starting on 07/15/2002, the Company has started the process of retiring
        all Antminer L3 and Antminer S9 miners and initiated purchases of new
        mining equipment.: during months of August and September, the Company
        had purchased: (1) 100 Antminer S17Pro - 56TH units and (2) 77 Antminer
        S17 76TH/Antminer Z11 units. All units are powered by revenue increasing
        firmware, developed by Wattum Management.
    --  After performing standard due diligence, Integrated Ventures has decided
        against pursuing M&A transaction with Petawatt Properties.
    --  The Company is still engaged with AltVentures, in regards to the
        purchase of their 2.5MW mining facility, located in Winnipeg, Canada.
        Completion of this transaction has been delayed, due to the inspection
        related issues, caused by Covid-19 travel restrictions, from USA to
        Canada.
    --  In September, Integrated Ventures had executed Letter of Intent ("LOI")
        to acquire assets of private company with unaudited 2019 revenues of
        $1.75 million. LOI was scheduled to expire on 09/15/2020, however both
        parties had agreed to extend due diligence period, until 10/30/2020.
    --  As of 06/31/2020, the Company's Balance Sheet contained investment in
        Chainlink (symbol: LINK), valued at $82,855, which was acquired in July,
        between $3.75 and $4.50 per coin. This cryptocurrency investment was
        sold in the open market, during months of August and September, at
        prices, ranging between $13.00 and $18.00 per coin.

About Integrated Ventures, Inc: The Company operates as Technology Holdings Company with focus on operating assets in technology and cryptocurrency sectors. For additional information, please visit company's website at www.integratedventuresinc.com.

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.

Contact:
Steve Rubakh
+1 (215) 613-1111
sr@emsfindapp.com

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SOURCE Integrated Ventures Inc.