$VIVK

Vivakor, Inc.

CIK:0001450704|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 32,117,206	$ 29,099,446	$ 51,575,316	$ 66,439,737
Cost of revenues	25,482,907	24,519,777	39,217,787	57,101,634
Gross profit	6,634,299	4,579,669	12,357,529	9,338,103
Operating expenses:
Sales and marketing	157,500	720	157,500	720
General and administrative	3,767,311	4,484,746	9,364,350	9,854,023
Amortization and depreciation	2,551,186	6,870,950	5,102,643	12,702,552
Total operating expenses	6,475,997	11,356,416	14,624,493	22,557,295
Income (loss) from operations	158,302	(6,776,747)	(2,266,964)	(13,219,192)
Other income (expense):
Unrealized gain on marketable securities	346,871	(1,731,160)	335,493	(78,406)
Gain (loss) on disposition of assets		378,000		(1,219,913)
Gain on conversion of debt	781,398		595,543
Interest income	10,285	17,828	18,258	43,310
Interest expense	(3,880,704)	(4,383,710)	(5,750,954)	(5,567,908)
Interest expense - related parties	(240,273)	(53,121)	(383,434)	(53,121)
Other income		12,540	50,500	25,080
Total other income (expense)	(2,982,423)	(5,759,623)	(5,134,594)	(6,850,958)
Loss before provision for income taxes	(2,824,121)	(12,536,370)	(7,401,558)	(20,070,150)
Provision for income taxes	(0)	(0)	(0)	(0)
Consolidated net loss	(2,824,121)	(12,536,370)	(7,401,558)	(20,070,150)
Less: Net loss attributable to noncontrolling interests				(6,518)
Net loss attributable to Vivakor, Inc.	(2,824,121)	(12,536,370)	(7,401,558)	(20,063,632)
Series A Preferred Stockholder Dividends	1,450,966	1,452,624	3,649,241	3,045,037
Net loss to common shareholders	$ (4,275,087)	$ (13,988,994)	$ (11,050,799)	$ (23,108,669)
Basic net loss per share	$ (13.35)	$ (0.30)	$ (64.28)	$ (0.52)
Diluted net loss per share	$ (13.35)	$ (0.30)	$ (64.28)	$ (0.52)
Basic weighted average common shares outstanding	320,287	11,512	171,916	11,143
Diluted weighted average common shares outstanding	320,287	11,512	171,916	11,143
Revenues [Member]
Revenues
Total revenues	$ 26,514,153	$ 20,998,423	$ 40,607,537	$ 53,786,939
Revenues Related Party [Member]
Revenues
Total revenues	$ 5,603,053	$ 8,101,023	$ 10,967,779	$ 12,652,798

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES:
Consolidated net loss	$ (7,401,558)	$ (20,070,150)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and depreciation	5,102,643	12,702,552
Stock-based compensation	674,988	690,350
Stock-based compensation - consultant	702,488	462,735
Unrealized (gain) loss on marketable securities	(335,493)	78,406
Loss on disposition of assets		1,219,913
Gain on conversion of debt	595,672
Noncash interest charges	3,635,842	2,805,481
Interest on notes receivable	(14,773)	(46,771)
Changes in operating assets and liabilities:
Accounts receivable	(7,897,623)	(17,309,724)
Prepaid expenses	241,121	(1,583,825)
Inventories		73,205
Right of use assets - operating leases	302,986	1,085,126
Other assets	169,957	(155,984)
Accounts payable and accrued expenses	2,053,562	14,297,080
Accrued compensation	444
Operating lease liabilities	(302,985)	(1,228,730)
Net cash provided by (used in) operating activities	(3,664,073)	(6,980,336)
INVESTING ACTIVITIES:
Proceeds from sale of property and equipment		1,860,000
Investment in joint venture	(500,000)
Net cash provided by (used in) investing activities	(500,000)	1,860,000
FINANCING ACTIVITIES:
Payment on financing lease liabilities	(75,294)	(1,222,045)
Proceeds from loans and notes payable	7,190,365	10,396,612
Proceeds from loans and notes payable - related party		1,911,432
Payment of notes payable	(4,254,772)	(4,812,898)
Payment of notes payable - related party	(532,374)	(1,164,601)
Net cash provided by (used in) financing activities	2,327,925	5,108,500
Net increase (decrease) in cash and cash equivalents	(1,836,148)	(11,836)
CASH AND CASH EQUIVALENTS, and CASH RESTRICTED, BEGINNING OF PERIOD	2,095,896	3,676,992
CASH AND CASH EQUIVALENTS, and CASH RESTRICTED, END OF PERIOD	259,749	3,665,156
Cash paid during the year for:
Interest		1,719,037
Noncash transactions:
Accounts payable on purchase of equipment		1,433,463
Notes payable settled against working capital items for netting arrangement	10,203,666
Series A preferred shareholder stock dividends	3,649,241	3,045,037
Common stock issued with debt		$ 1,086,963
Common stock issued for a reduction in liabilities		754,642
Common stock issued on conversion of debt	$ 4,124,705

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 256,853	$ 265,019
Cash - restricted	2,896	1,830,877
Accounts receivable, net of allowance for credit losses of $1,246,467 and $0 at June 30, 2026 and Dec 31, 2025, respectively	2,007,247	3,525,138
Accounts receivable - related party	10,680,036	1,439,228
Prepaid expenses	591,645	832,766
Marketable securities	583,406	247,913
Inventories	82,425	82,425
Total current assets	14,204,508	8,223,366
Other assets	821,264	491,221
Notes receivable	294,333	279,560
Property and equipment, net	55,984,734	58,297,200
Right of use assets - operating leases	191,769	494,755
Intellectual property, net	7,109,807	7,522,772
Customer relationships, net	35,806,846	38,184,057
Total assets	114,413,261	113,492,931
Current liabilities:
Accounts payable and accrued expenses	16,211,378	13,976,431
Accounts payable and accrued expenses - related parties	1,528,694	1,832,625
Accrued compensation	485	41
Unearned revenue	9,107,297	9,107,297
Operating lease liabilities, current	191,769	272,469
Finance lease liabilities, current	9,549,265	9,101,852
Loans and notes payable, current	21,747,676	7,443,434
Loans and notes payable, current - related parties	2,568,617	3,616,401
Derivative liabilities	6,404,425	9,062,320
Other liabilities	5,201,776	7,103,109
Total current liabilities	72,511,382	61,515,979
Operating lease liabilities, long term	(0)	222,285
Loans and notes payable, long term	103,151	7,864,226
Loans and notes payable, long term - related parties	5,166,764	6,701,887
Total liabilities	77,781,297	76,304,377
Stockholders’ equity (deficit):
Preferred stock, $0.001 par value; 15,000,000 shares authorized, 96,731 outstanding as of June 30, 2026 and December 31, 2025	97	97
Common stock, $0.001 par value; 500,000,000 shares authorized; 511,000 and 100,000 were issued and outstanding as of June 30, 2026 and Dec 31, 2025, respectively	511	100
Additional paid-in capital	256,096,053	245,602,255
Treasury stock, at cost	(20,000)	(20,000)
Accumulated deficit	(215,320,318)	(204,269,519)
Total Vivakor, Inc. stockholders’ equity	40,756,343	41,312,933
Noncontrolling interest	(4,124,379)	(4,124,379)
Total stockholders’ equity	36,631,964	37,188,554
Total liabilities and stockholders’ equity	$ 114,413,261	$ 113,492,931