Nov 13, 2020   SOURCE: PR NewsWire

Integrated Ventures Reports Total Revenues of $220,752 for Q1/2021 Vs $107,564 for Q1/2020

PHILADELPHIA, Nov. 13, 2020 /PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTV), ("Company") is pleased to confirm the filing of Q1/2021, after the today's market close, for financial period, ended September 31, 2020.

Key Q1 Financial Highlights: 

    --  Total Revenues ------- The Company generated total revenues of
        $220,754.00 (Q12021) vs $107,564.00 (Q1/2020). Revenues consisted of (1)
        mining revenues of $67,337.00 (*), (2) sales of mining equipment of
        $14,890.00 (**) and gain on sales of digital currencies of $138,527.00
        (***).
    --  Current Liabilities --------- The Company reported total current
        liabilities of $668,217.00, with only $100,356.00 that will require cash
        payment.
    --  Net Loss --------- The Company reported net loss of $387,778.00, mainly
        due to reporting expenses of (1) $207,282.00, due to disposition of
        retired mining equipment and (2) interest expense, on convertible debt
        funding, of $100,872.00.
    --  Loss Per Share --------- The Company reported $0.00 net loss per common
        share
    --  Operating Expenses --------- The Company reported that its total
        operating and administrative expenses were $99,717.00.
    --  Total Cash --------- The Company reported that the ending cash balance
        was $102,435.00.
    --  Total Assets --------- The Company reported that the total assets were
        $562,325.00.

(*) (**) See page 5 (noted in Condensed Statements of Operations Table).

(***) See page 25 (noted in paragraph 2, under Other Income Table ).

The Company is pleased to provide the following comments: 

    --  Mining revenues reported were lower due to (1) BTC halving event, which
        reduced mining rewards by around 50% and (2) less mining rigs connected
        due to the retirement of all Antminer S9 and Antminer L3 miners.
    --  The Company was able to off set lower mining revenues, with the gain on
        sales of digital currencies.
    --  Integrated Ventures had executed three (3) Letters of Intent, during
        Q4/2020 and Q1/2021. As of 11/15/2020, the Company does not have any
        active discussions, in terms of entering into any definitive agreements.

About: Integrated Ventures,Inc.is Technology Portfolio Holdings Company with focus on Blockchain Technology and Cryptocurrency Mining.

For more details, please visit the Company's website: 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.