Did Integrated Ventures Inc (OTCMKTS:INTV) Find a Bottom?

Integrated Ventures Inc (OTCMKTS:INTV) is trading higher on Friday after the company released its Q3 results for the quarter ended March 31, 2021.

Market Action

INTV stock is moving higher and as of 10:30, trading up by 12.10% at $0.213. volume was 956K shares in the first 60 minutes of trade. The stock opened at $0.1999 and touched a high and low of $0.2225 and $0.1928 respectively. The stock is up 400% so far this year.

INTV Release Q3 Results

On Friday, before the market opened, Integrated Ventures released Q3 results. Let’s take a look at the company’s key highlights:

  • Reported Record Total Revenues: For the Q3/2021, the Company generated its highest ever revenues of $696,805 vs $130,910 for Q3/2020, an increase of over 432%.
  • Reported Record Gross Profit: The Company reported, for the first time, a gross profit from mining operations and sales of mining equipment, in the amount of $429,908 vs a gross loss of ($87,710) for Q2/2021, an increase of over 590%.
  • Reported Record Total Assets: As of March 31, 2021, the Company reported the total assets on balance sheet were $5,145,938 vs $546,822 as of June 30, 2020. The ending cash balance was $99,974.
  • Reported Positive Shareholders’ Equity: As of March 31, 2021, the Company reported total shareholder equity of $709,964 vs ($109,603) as of June 30, 2020.

Trader Notes

INTV continues to trend downward. It is nearing the area it broke out from in February, which may offer support. Wednesday and Thursday, the stock broke below its recent support area, which isn’t a good sign, but today’s positive news may give investors something to rally around. Potential pivot points to watch are .21, .23 and .26 above and .18 .17 and .14 below.

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