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ORGANIZATION BASIS OF PRESENTATION
6 Months Ended
Dec. 31, 2024
ORGANIZATION BASIS OF PRESENTATION  
ORGANIZATION BASIS OF PRESENTATION

1. ORGANIZATION BASIS OF PRESENTATION

 

Organization

 

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 (“MedWell USA”), all of which were organized in the State of Nevada.

 

On August 29, 2024, the Company, through MedWell Direct, consummated its acquisition of 51% of the membership interests of Healthy Lifestyle USA LLC, a Florida limited liability company (“Healthy Lifestyle”).

 

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.

 

Basis of Presentation

 

The accompanying unaudited financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. The results of operations for the interim period ended December 31, 2024 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2025. In the opinion of the Company’s management, the information contained herein reflects all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the Company’s results of operations, financial position and cash flows. The unaudited interim financial statements should be read in conjunction with the audited financial statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2024 filed on September 30, 2024 and Management’s Discussion and Analysis of Financial Condition and Results of Operations.