$INTV Integrated Ventures Reports Preliminary Q1/2024 Revenue Results Of $1,059,064 vs $555,365 for Q1/2022
PHILADELPHIA, Nov. 10, 2023 /PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTV), ("Company"
is pleased to confirm the plans to file Q1/2024 Report, after the market close on 11/14/2023, for financial period, ending on September 31, 2023.
Key Financial Highlights are as follow:
Total Revenues: For the Q1/2024, the Company generated the revenues of $1,059,064 vs $555,365.00 for Q1/2022.
Gross Loss/Profit: The gross loss from mining operations was $514,310.00 vs $213,527.00 for Q1/2022.
Income Loss/Profit: Excluding, non-cash (common shares issued and booked at market value) expenses, for (1) depreciation and amortization, (2) consulting services and (3) employment compensation, the gross loss from total operations was $691,692.00 vs $606,800.00 for Q1/2022.
Total Assets: As of September 31, 2023, the Company reported the total assets, in the amount of $5,727,699.
Total Current Liabilities: As of September 31, 2023, the Company reported the total liabilities (non-cash), in the amount of $3,055,556.00 vs $2,975,452.00 for Q1/2022.
Total Cash Available: The ending cash balance was $57,672.00.
Total Digital Currencies Holdings: As of September 31, 2023, the Company's digital curency holdings (BTC) were valued at $477,930.00.
Net Loss Per Share: Excluding, non-cash (common shares issued and booked at market value) expenses, for (1) depreciation and amortization, (2) consulting services and (3) employment compensation, the Company's actual net loss per common share, would amount to 0.28 cents vs 0.61 for Q1/2022.
"Ancipated Mining Revenues for 2024 are projected to increase, due to (1) BTC pricing of $37,000.00 or higher and (2) increase of number of miners coming online. Thus, taking in account network difficulty of 63T+, we are expecting revenues to be in $7.7-$7.9 million range, with over 40% in mining gross margins."