SOURCE: Vivakor, Inc.

Vivakor, Inc.

August 17, 2015 08:00 ET

Vivakor Does It Again: 9th Straight Quarter of Positive Financial Results

LAS VEGAS, NV--(Marketwired - August 17, 2015) - Vivakor Inc. (OTC PINK: VIVK) announced GAAP based financial results for the quarter ended June 30, 2015.

Q2 2015 Highlights:

  • Established a larger research and development (R&D) facility in support of oil sands and precious metals development in the quarter ended June 30, 2015
  • Commenced the construction of its first mobile oil extraction unit
  • Shareholder Equity increased 127% to $23.5M for the quarter ended June 30, 2015. This represents a 276% increase from one year ago
  • For the quarter ended June 30, 2015, liabilities decreased 73% from one year ago
  • Total Assets increased to $24M for the quarter ended June 30, 2015. Total assets have increased 176% from one year ago

Vivakor continues to focus on asset accrual in their Precious Metals Business Unit as it operates its multiple precious metal extraction processing machines. The Company has multiple claims it operates from in the Southwest US. Additionally, Vivakor entered into the Alternative Energy Sector in 2014. The Company developed over the past year a proprietary, environmentally clean solvent and process for extraction of oil from the Utah Oil Sands. They picked up land in the area near Vernal, UT as they acquired the technology and methodology for extraction of the high-value oil sands. They have also announced an ability to do remediation and reclamation of contaminated sands across the globe.

Chairman and CEO Matt Nicosia stated, "We are very excited about the fundamental soundness of the Company as evidenced by our ability to recognize nine consecutive quarters of overall positive financial results. Our balance sheet is solid and fundamentally we are exactly where we want to be as a company. The remainder of this year looks good as our precious metals production enables us to increase our total assets for the Company while we continue to contain costs and reduce our liabilities. Last year we announced our intention to move into the alternative energy sector and our effort has resulted in exciting announcements in that area during the past several months. Our first mobile oil extraction unit is being built at this time and Vivakor continues to move in a determined manner as it meets its goals and objectives. All the while staying the course through a practical business plan supported by growth of the overall asset base and valuation accrual for our loyal shareholders."

Vivakor's intellectual properties are proprietary and proving industry disruptive with a low cost basis in their operations model in the natural resources space. The Company focus is specifically in Precious metals extraction and now with the oil extraction from the oil rich area of Utah this provides Vivakor with a substantial capability going forward.

ABOUT VIVAKOR, INC.

Vivakor, Inc. (VIVK) is an Asset Acquisition company that develops and acquires resources that generate revenue currently or in the near term. The Company acquires technologies and assets primarily in the field of Natural Resources. Vivakor has several mineral assets that have great value and create a cash flow and a long term revenue stream for the Company. Additionally, the Company has effectively acquired positions in other Green Energy companies. Vivakor has several operating assets that produce revenues and cash flow to the Company. The general business model is to acquire cash-flowing or near term cash-flowing mineral and or technology assets with an identified need or a substantial market opportunity. For more information please visit www.vivakor.com.

FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

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