IRVINE, CA–(Marketwired – August 17, 2015) – Vivakor Inc. (
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 eighteen (18) 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 cash flow and a long term, diverse revenue stream for the Company. Additionally, the Company has effectively acquired positions in other Green Energy companies. 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