NASDAQ: VIVK
Vivakor, Inc.CIK 0001450704 · SIC 4953 · Refuse Systems
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Vivakor launches $108M crude oil deal, forms Texas wash plant JV with $4.25M commitment
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revenue $19.5M, net income -$4.6M. Vivakor revenue falls 48% post-divestiture; up to distressed financing closes amid + lawsuit surge
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Vivakor closes $6M convertible note with 20% discount conversion, secures $100M equity line
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Vivakor enters forbearance on $7.9M debt after default, ties repayment to planned financing
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Vivakor announces $72M crude oil transaction, delays Adapti dividend to June 30
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Vivakor regains Nasdaq compliance after 1-for-200 reverse split, faces one-year monitoring
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revenue $104.4M, net income -$110.2M. Vivakor posts loss on impairment, debt conversion hit; CEO buys divested unit
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Latest financial statements
From 10-Q filed Aug 19, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | ||||
| Revenues | 26,514,153 | 20,998,423 | 40,607,537 | 53,786,939 |
| Revenues related party | 5,603,053 | 8,101,023 | 10,967,779 | 12,652,798 |
| 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 | - | - | - | - |
| 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 and 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 |
Condensed Consolidated Balance Sheets
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| 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 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| 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 | - | 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 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 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 |
| SUPPLEMENTAL CASHFLOW INFORMATION: | ||
| 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 | - |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗