Integrated Ventures, Inc. Announces Earnings Results for the First Quarter Ended September 30, 2018
January 24, 2019 at 08:30 pm IST
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Integrated Ventures, Inc. announced earnings results for the first quarter ended September 30, 2018. For the quarter, the company reported total revenues of $115,245, consisting of revenues from mining operations of $100,465 and equipment retail sales of $14,780. The company had reported a non-cash net loss of $1,700,222 for 3 months, ended September 30, 2018, mainly due to crypto industry driven accounting treatment, consisting of non-cash impairment of crypto assets of $2,097,930, which was partially offset by non-cash other income of $1,051,207, resulting from the reduction in their derivative liabilities.
Integrated Ventures, Inc. is a diversified holdings company, which develops, acquires, operates, and invests in businesses, focused on e-commerce, entertainment, information technology, data center design and cryptocurrency mining. The Company focuses on blockchain applications, information technology, cryptocurrency mining which includes mining, design, management, and operation of the data centers and power plants. Its operations include consist of cryptocurrency mining and retail sales of the mining equipment.