Integrated Ventures Inc.
10/01/2024 | Press release | Distributed by Public on 10/01/2024 05:46
Integrated Ventures, Inc Reports Total 2024 Revenues Of $5,863,935 vs $3,862,849 for 2023.
Tampa, Fl - October 1, 2024 /PRNewswire/ -- Integrated Ventures Inc. (OTCQB: INTV), ("Company") is pleased to confirm the filing of Form 10K/Annual Report, for financial period, ending on July 30, 2024.
Financial Highlights & Management Comments:
1. Total Annual Revenues: $5,863,935.00 (2024) vs $3,862,849.00 (2023).
2. Total Liquid Capital (Cash+ Digital Assets) Available : $1,771,891.00 (2024) vs $705,423.00 (2023).
3. Total Assets: $3,942,691.00 (2024) vs $6,590,569.00 (2023) - mainly due to accounting entries for impairment of property and mining equipment.
4. Total Current Liabilities: $3,683,142.00 (2024) vs $2,975,451.00 (2023) - mainly due to accounting entries for accrued stock dividends, due to shareholders with preferred shares.
5. Net Income (Loss): ($11,524,357.00) (2024) vs ($25,459,967.00) (2023) - mainly due to the stock compensation issuances for management and consultants and losses on disposition of the property and mining equipment.
Steve Rubakh, CEO of Integrated Ventures, adds the following commentary: "The management has made a strategic decision to expand business operations by entering lucrative and rapidly growing health and wellness sector, with focus on weight loss management solutions. As of 09/30/2024, the Company have launched and fully funded internally, the following wholly owned subsidiaries: (1) Digital currency mining and hosting, (2) MedWell USA, LLC - B2B procurement agency with focus on the health and wellness category. This subsidiary markets medical weight loss and GLP-1 products by targeting medical offices, wellness clinics, gyms, and online telemedicine companies, (3) MedWell Direct, LLC - Operator of D2B/B2C telemedicine platforms that connect consumers with licensed healthcare providers and provides weight loss management services, driven by GLP-1 products and (4) MedWell Facilities, LLC - Facilities management company is dedicated to the health and wellness industry. This subsidiary is focused on developing real estate opportunities, designed to attract health and wellness tenants.
The Company is planning to launch 3 new websites to support newly launched subsidiaries and finalizing details on multiple B2B joint venture opportunities, related to health andwellness sector, with goal to increasing shareholder's value and revenue growth."
About: Integrated Ventures, Inc is Technology Holdings Company with focus on developing, acquiring, operating and investing in businesses, such as e-commerce, health and wellness solutions 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.