IRVINE, CA–(Marketwired – March 31, 2015) – Vivakor Inc. (OTC PINK: VIVK) reports that the Company closed its 2014 fourth quarter and year-end with solid financial results. This makes the seventh (7th) successive quarter of positive figures from the Company.
Much of Vivakor’s success is attributed to the addition of a second, much larger precious metals extraction unit that augments their total processing capacity through their proprietary, disruptive technology and methodology for extraction of precious and base metals from ore bodies in Arizona and Colorado.
Vivakor’s capital allocation approach has been at the center of every decision made in past couple of years. This has placed Vivakor in a much stronger position to continue with Precious Metals accumulation through the addition of a significantly larger processing unit. The Company realizes a highly efficient and optimized extraction process with a low cost basis and a strong precious metals yield from sand based ore that Vivakor processes.
The Company also added to its Natural Resources focus by entering into the Oil space in 2014 through its clean, green extraction of oil from the designated rich oil sands area of Eastern Utah.
Chairman and CEO Matt Nicosia stated, “We successfully executed on our key priorities and objectives in 2014, which included operational optimization, the acquisition of additional metals processing capabilities (increasing our asset base for that division) and overall diversification of our total assets. These were the right decisions for our shareholders and for the Company going forward through the remainder of this decade.
The following represent some of the financial highlights for the fourth-quarter (Q42014):
- Shareholder Equity increased 33% or $2.5M for the quarter ended December 31 2014. This represents a 2,582% Year-to-Date increase for 2014
- Liabilities were decreased 61% or $1M for the quarter ended December 31, 2014. This accounts for an overall decrease of 87% Year-to-Date for 2014
- Total Assets increased nearly 16% to $11M for the quarter ended December 31, 2014. Total assets accrued Year-to-Date in 2014 represent 92%
Vivakor is well poised to expand its operational capacity this year and remains attentive in its pursuit of other significant opportunities. Continuing to build a solid investment grade balance sheet was a major goal for us in 2014. Thank you to our shareholders, partners and sponsors, we appreciate your support!”
ABOUT VIVAKOR, INC.
Vivakor, Inc. (OTC PINK: 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.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor’s products and their related market potential. Forward-looking statements may be identified 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. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. 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 are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
Vivakor Investor Relations