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Vivakor (VIVK) - 2023 Q2 - Quarterly Report
2023-08-19 01:27
Revenue and Profit - For the three months ended June 30, 2023, the company reported revenues of $13,590,638, a 100% increase compared to none in the same period of 2022[116] - For the six months ended June 30, 2023, revenues reached $29,135,510, also a 100% increase compared to none in the same period of 2022[116] - Gross profit for the three months ended June 30, 2023, was $1,214,764, marking a 100% increase compared to none in the same period of 2022[119] - For the six months ended June 30, 2023, gross profit totaled $2,727,922, also a 100% increase compared to none in the same period of 2022[119] Cost of Revenue - The cost of revenue for the three months ended June 30, 2023, was $12,375,874, representing a 100% increase compared to none in the same period of 2022[118] - For the six months ended June 30, 2023, the cost of revenue was $26,407,588, reflecting a 100% increase compared to none in the same period of 2022[118] Operating Expenses and Cash Flow - Operating expenses for the six months ended June 30, 2023 decreased by $789,236, or 14.40%, compared to the same period in 2022, totaling $4,690,728[120] - Net cash used in operating activities for the six months ended June 30, 2023 was $1,296,778, an improvement from $2,808,793 in 2022[124] - Cash and cash equivalents as of June 30, 2023 were $2,637,971, down from $3,182,793 as of December 31, 2022[126] Debt and Financial Obligations - Interest expense for the six months ended June 30, 2023 increased by $2,354,211, or 2,048.10%, totaling $2,469,157, primarily due to $28,664,284 in notes payable from newly acquired entities[122] - The company has obligations to pay approximately $15.4 million in cash within one year, with $13.2 million potentially satisfied through common stock issuance[131] Investments and Future Plans - The company is focusing on soil remediation services, particularly in Kuwait and Houston, Texas[101] - A secured promissory note of up to $1,950,000 was issued to DIC for relocating and installing a Remediation Processing Center in Kuwait[106] - The company plans to connect a 120,000 barrel crude oil storage tank to major pipeline systems to enhance operations[100] - A new facility in Houston, Texas, is expected to be financed with approximately $2.2 million from Maxus Capital Group for build-out[111] - Capitalized interest on construction in process was $589,775 for the six months ended June 30, 2023, with anticipated further construction costs of approximately $1 million for wash plant facilities[132] Management and Compensation - The company has entered into new compensation agreements for management, with the current CEO's salary increasing from $375,000 to $1,000,000 annually, payable in common stock[121] Marketable Securities and Deficits - Unrealized loss on marketable securities for the six months ended June 30, 2023 decreased by $82,638, or 20.00%, totaling $330,551[123] - As of June 30, 2023, the accumulated deficit was approximately $59.5 million, with a working capital deficit of approximately $8.3 million[125] - The company received proceeds of $3,984,667 from the issuance of notes and other loans for the six months ended June 30, 2023[130]
Vivakor (VIVK) - 2023 Q1 - Quarterly Report
2023-07-28 01:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission file number: 000-41286 VIVAKOR, INC. (Exact name of registrant as specified in its charter) | Nevada | 26-2178141 | | --- | --- | | (St ...
Vivakor (VIVK) - 2022 Q4 - Annual Report
2023-05-24 23:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-41286 VIVAKOR, INC. (Exact name of registrant as specified in its charter) | Nevada | 26-2178141 | | --- | --- | | (State ...
Vivakor (VIVK) - 2022 Q2 - Quarterly Report
2022-08-19 22:17
or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission file number: 000-41286 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2022 VIVAKOR, INC. (Exact name of registrant as specified in its charter) (State or other Jurisdicti ...
Vivakor (VIVK) - 2022 Q1 - Quarterly Report
2022-05-13 21:24
Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the Quarterly Period Ended March 31, 2022 or For the Transition Period from _________ to _________ Commission file number: 000-41286 VIVAKOR, INC. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Nevada 26-2178141 (State ...
Vivakor (VIVK) - 2021 Q4 - Annual Report
2022-04-15 20:47
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the transition period from _________ to __________ Commission File Number: 001-41286 VIVAKOR, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...