Vivakor, Inc. Files Q2 2024 10-Q Report

TL;DR

Vivakor's Q2 2024 10-Q is in. Check financials.

AI Summary

Vivakor, Inc. filed its 10-Q for the period ending June 30, 2024. The company, incorporated in Nevada and headquartered in Dallas, TX, operates in the Refuse Systems industry. Key financial data and operational details for the second quarter and first half of 2024 are presented in this filing.

Why It Matters

This filing provides investors with an update on Vivakor's financial performance and operational status for the second quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information which can reveal significant risks or opportunities, but without specific financial performance data, the risk level is assessed as medium.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20240816 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Vivakor, Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 0001450704 (company) — Central Index Key for Vivakor, Inc.
• Dallas, TX (location) — Business and mailing address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value VIVK The Nasdaq Stock Mar
• $0.75 — n Price" shall equal the greater of (a) $0.75 per share or (b) the lesser of (i) 90%
• $2.25 — onvert all or part of this Note or (ii) $2.25 per share. Due to uncertainty of the co
• $71.1 million — deficit of approximately ( 71,103,639 ) $71.1 million. As of June 30, 2024 and 2023, we had a
• $20.7 million — urrent obligations to pay approximately $20.7 million of debt. Of the $20.7 million, $14.5 mi
• $20.7 m — oximately $20.7 million of debt. Of the $20.7 million, $14.5 million can be satisfied t
• $14.5 million — million of debt. Of the $20.7 million, $14.5 million can be satisfied through the issuance o
• $3 million — iscal year 2023 we raised approximately $3 million through debt financings with individual
• $2.2 million — t financings with individual investors, $2.2 million through a sale lease back agre

Filing Documents

• vivakor_10q.htm (10-Q) — 1130KB
• vivakor_ex10-21.htm (EX-10.21) — 36KB
• vivakor_ex31-1.htm (EX-31.1) — 12KB
• vivakor_ex31-2.htm (EX-31.2) — 12KB
• vivakor_ex32-1.htm (EX-32.1) — 7KB
• vivakor_ex32-2.htm (EX-32.2) — 7KB
• image_001.jpg (GRAPHIC) — 608KB
• image_002.jpg (GRAPHIC) — 419KB
• image_003.jpg (GRAPHIC) — 420KB
• image_004.jpg (GRAPHIC) — 192KB
• image_005.jpg (GRAPHIC) — 73KB
• image_006.jpg (GRAPHIC) — 547KB
• 0001829126-24-005612.txt ( ) — 8721KB
• vivk-20240630.xsd (EX-101.SCH) — 49KB
• vivk-20240630_cal.xml (EX-101.CAL) — 61KB
• vivk-20240630_def.xml (EX-101.DEF) — 121KB
• vivk-20240630_lab.xml (EX-101.LAB) — 298KB
• vivk-20240630_pre.xml (EX-101.PRE) — 235KB
• vivakor_10q_htm.xml (XML) — 991KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1 ITEM 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three and Six Months ended June 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months ended June 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Six Months ended June 30, 2024 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements (unaudited) 5 ITEM 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 ITEM 4.

Controls and Procedures

Controls and Procedures 34

OTHER INFORMATION

PART II. OTHER INFORMATION 36 ITEM 1.

Legal Proceedings

Legal Proceedings 36 ITEM 1A.

Risk Factors

Risk Factors 36 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 ITEM 3. Defaults Upon Senior Securities 37 ITEM 4. Mine Safety Disclosures 37 ITEM 5. Other Information 37 ITEM 6. Exhibits 40

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS VIVAKOR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 94,970 $ 744,307 Accounts receivable, net 3,372,685 2,458,730 Accounts receivable- related party 106,000 174,083 Prepaid expenses 180,385 74,876 Marketable securities 413,188 495,826 Inventories 75,167 44,632 Other assets 1,511,254 1,118,188 Total current assets 5,753,649 5,110,642 Other investments 4,000 4,000 Notes receivable 217,781 213,168 Property and equipment, net 27,641,821 24,299,317 Right of use assets- operating leases 1,353,507 1,534,870 License agreements, net 1,590,910 1,651,324 Intellectual property, net 22,133,251 23,437,654 Goodwill 14,984,768 14,984,768 Total assets $ 73,679,687 $ 71,235,743 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 18,307,013 $ 16,578,642 Accounts payable and accrued expenses- related parties 3,242,052 1,933,817 Accrued compensation 834,448 1,968,063 Operating lease liabilities, current 153,985 435,906 Finance lease liabilities, current 481,950 963,900 Loans and notes payable, current 3,960,231 2,477,970 Loans and notes payable, current- related parties 16,740,820 15,626,168 Total current liabilities 43,720,499 39,984,466 Operating lease liabilities, long term 1,291,488 1,193,915 Finance lease liabilities, long term 2,096,882 1,852,178 Loans and notes payable, long term 879,645 856,034 Loans and notes payable, long term- related parties 5,590,008 5,590,008 Long-term debt (working interest royalty programs) 4,947,524 4,433,630 Deferred tax liability 120,076 88,323 Total liabilities 58,646,122 53,998,554 Stockholders' equity: Preferred stock, $ 0.001 par value; 15,000,000 shares authorized, none

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View this 10-Q filing on SEC EDGAR