Integrated Ventures Files 2024 10-K, Reports $300M Assets

TL;DR

IVNT 2024 10-K: $300M assets, $5M liabilities, new stock issuance & credit line post-year-end.

AI Summary

Integrated Ventures, Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting significant changes in its financial structure. The company's total assets were $300,000,000, with total liabilities at $5,064,492. Key financial events include a future common stock issuance and a sublease agreement executed on August 1, 2024, with a line of credit also established on August 27, 2024.

Why It Matters

This filing provides a comprehensive overview of Integrated Ventures' financial health and strategic moves, including asset levels and recent financing activities, which are crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The company's financial structure, including stock issuances and credit lines, along with its SIC code in Finance Services, suggests potential volatility and regulatory scrutiny.

Key Numbers

• $300.0B — Total Assets (Represents the company's total resources as of June 30, 2024.)
• $5.1M — Total Liabilities (Indicates the company's total obligations as of June 30, 2024.)
• $2.9M — Net Income (Represents the company's profit for the fiscal year ending June 30, 2024.)

Key Players & Entities

• Integrated Ventures, Inc. (company) — Filer of the 10-K
• 06-30-2024 (date) — Fiscal year end
• $300,000,000 (dollar_amount) — Total assets
• $5,064,492 (dollar_amount) — Total liabilities
• August 1, 2024 (date) — Date of sublease agreement and common stock issuance
• August 27, 2024 (date) — Date of line of credit establishment

FAQ

Key Financial Figures

• $0.001 — 2(g) of the Exchange Act: Common Stock, $0.001 par value per share Title of each clas
• $1.85 — s reported on the OTC Markets system of $1.85. For purposes of this response, the reg
• $350,000 — price for the Membership Interests was $350,000, consisting of $250,000 in cash and 97,
• $250,000 — p Interests was $350,000, consisting of $250,000 in cash and 97,088 shares of the Compan
• $100,000 — urchase Shares") with a market value of $100,000. The number of Purchased Shares was bas
• $1.03 — er of Purchased Shares was based on the $1.03 closing price of the Company's common s
• $182,000 — hy Lifestyle in the aggregate amount of $182,000 for working capital and (ii) an adverti
• $300,000 — credit line for Healthy Lifestyle up to $300,000 on commercially reasonable terms for ad
• $42,000 — principal to be issued as follows: (i) $42,000 on the effective date of the Note; (ii)
• $60,000 — on the effective date of the Note; (ii) $60,000 15 days after such effective date of th
• $80,000 — uch effective date of the Note and (iii)$80,000 45 days after such effective date of th
• $225 — n cost to acquire a customer ("CPA") of $225 (not including marketing admin fees/com
• $200,000 — ell Direct shall lend Healthy Lifestyle $200,000 to be used exclusively for PPC, and if
• $225, M — 0,000 loan amount and achieves a CPA of $225, MedWell Direct shall lend Healthy Lifesty
• $5,863,935 — ur digital asset mining operations were $5,863,935 and $3,862,849 for the years ended June

Filing Documents

• intv_10k.htm (10-K) — 1106KB
• intv_ex311.htm (EX-31.1) — 10KB
• intv_ex321.htm (EX-32.1) — 4KB
• 0001477932-24-006034.txt ( ) — 4770KB
• intv-20240630.xsd (EX-101.SCH) — 52KB
• intv-20240630_lab.xml (EX-101.LAB) — 295KB
• intv-20240630_cal.xml (EX-101.CAL) — 47KB
• intv-20240630_pre.xml (EX-101.PRE) — 249KB
• intv-20240630_def.xml (EX-101.DEF) — 162KB
• intv_10k_htm.xml (XML) — 586KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unresolved Staff Comments 15 Item 1C. Cybersecurity 15 Item 2.

Properties

Properties 15 Item 3.

Legal Proceedings

Legal Proceedings 15 Item 4. Mine Safety Disclosures 15 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 16 Item 6. Reserved 17 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 27 Item 9A.

Controls and Procedures

Controls and Procedures 27 Item 9B. Other Information 28 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 28 PART III Item 10. Directors, Executive Officers and Corporate Governance 29 Item 11.

Executive Compensation

Executive Compensation 30 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 31 Item 13. Certain Relationship and Related Transactions, and Director Independence 33 Item 14. Principal Accountant Fees and Services 33 PART IV Item 15. Exhibits and Financial Statement Schedules 34 Item 16. Form 10-K Summary 34 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements All statements in this Annual Report on Form 10-K, other than historical fact or present financial information, may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements that address activities, outcomes and other matters that should or may occur in the future, including, without limitation, statement regarding the financial position, business strategy, growth, projections and other plans and objectives for our future operations, are forward-looking statements. Although we believe the expectations expressed in such forward-looking statements, they are no guarantees of future performance. We have no obligation and make no undertaking to publicly update or revise any forward-looking statements, except as may be required by law. Forward-looking statements include the items identified in the preceding paragraph, information concerning possible or assumed future results of operations and other statements in this Annual Report, and can be identified by terminology such as "may," "will," "should," "expects," "intend," "anticipates," "believes," "could," "estimates," "plans," "potential," "predicts," "project," or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Readers of this Annual Report should carefully consider such risks, uncertainties and other information, disclosures and discussions which contain cautionary statements identifying important factors that could

Business

Item 1. Business. We were incorporated in the State of Nevada on March 22, 2011 under the name Lightcollar, Inc. In March 2015, we changed our name to EMS Find, Inc. On May 30, 2017, Integrated Ventures, Inc. ("Integrated Ventures"), a Nevada corporation, was formed as a wholly owned subsidiary of the Company. Pursuant to an Agreement and Plan of Merger dated May 30, 2017, Integrated Ventures was merged into the Company, with the Company being the surviving corporation and changing its name to Integrated Ventures, Inc. In July 2024, the Company formed three wholly-owned subsidiaries, MedWell Direct, LLC ("MedWell Direct"), MedWell Facilities, LLC ("MedWell Facilities"), and MedWell USA, LLC, all of which were organized in the State of Nevada. We are a diversified holdings company that develops, acquires, operates, and invests in unique and profitable businesses. Our business focus is acquiring, launching, and operating companies in the digital asset sector, mainly in digital asset mining and sales of branded mining rigs. Subsequent to June 30, 2024, we strategically entered into the rapidly growing health and wellness sector. As of June 30, 2024, the Company owned a total of approximately 2,300 miners in one location, Granbury, Texas. All miners previously located in Tioga, Pennsylvania were relocated to Granbury, Texas during September 2023. On April 21, 2023, the Company effected a 1-for-125 reverse split of the Company's common stock. The reverse split has been given retroactive effect in the financial statements for all periods presented. Recent Material Developments As of June 7, 2024, our host disconnected all of our miners from their power source. At this time, the Company is actively exploring options regarding what to do with their digital asset miners. Potential options include finding another hosted facility, selling our digital assets miners as is, or refurbishing broken digital asset miners and selling them. Acquisition of Healthy Lifestyle

Risk Factors

Item 1A. Risk Factors. Risks Related to Our Business Because we are an early-stage company with minimal revenue and a history of losses and we expect to continue to incur substantial losses for the foreseeable future, we cannot assure you that we can or will be able to operate profitably. We have incurred losses since our organization, and are subject to the risks common to start-up, pre-revenue enterprises, including, among other factors, undercapitalization, cash shortages, limitations with respect to personnel, financial and other resources and lack of revenues. We cannot assure you that we will be able to operate profitably or generate positive cash flow. If we cannot achieve profitability, we may be forced to cease operations and you may suffer a total loss of your investment. An investment in the company must be considered speculative since our operations are dependent on the market value of Bitcoin. Our operations are dependent on the continued viable market performance of cryptocurrencies that we market and, in particular, the market value of Bitcoin. The decision to pursue blockchain and digital currency businesses exposes the Company to risks associated with a new and untested strategic direction. Under the current accounting rules, cryptocurrency is not cash, currency or a financial asset, but an indefinite-lived intangible asset; declines in the market price of cryptocurrencies would be included in earnings, whereas increases in value beyond the original cost or recoveries of previous declines in value would not be captured. The prices of digital currencies have varied wildly in recent periods and reflects "bubble" type volatility, meaning that high prices may have little or no merit, may be subject to rapidly changing investor sentiment, and may be influenced by factors such as technology, regulatory void or changes, fraudulent actors, manipulation and media reporting. Bitcoin is subject to halving; the reward for successfully solving a block

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