VIVK on Nasdaq
Vivakor, Inc.
Vivakor, Inc. was originally organized in 2006 as a Nevada limited liability company and converted to a Nevada corporation in 2008.3 From its latest annual report
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Last updated Oct 19, 2026.
Overview
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- TickerVIVK on Nasdaq1
- IndustryRefuse Systems1
- HeadquartersDallas, Texas1
- Incorporated inNV2
- Business address5220 Spring Valley Rd., Suite Ll20, Dallas, Tx 752542
- Filer category, Emerging growth company2
- Legal formCorporation
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Vivakor, Inc. was originally organized in 2006 as a Nevada limited liability company and converted to a Nevada corporation in 2008. Since then, we have grown through strategic acquisitions and the development of our integrated midstream platform, which provides crude oil transportation, terminaling, and marketing services across major U.S. producing basins.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
36.1%Gross margin4
-61.1%Operating margin4
-105.6%Net margin5
16.3%Revenue growth, 20254
-266.8%Return on equity4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Revenues brought in 81% of the revenue Vivakor, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Revenues | $58.6M | $84.2M |
| Revenues Related Party | $31.2M | $20.2M |
Business segments
Supply and Trading brought in 68% of the revenue Vivakor, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Supply and Trading | $57.6M | |
| Transportation and Logistics | $18.8M | $23.2M |
| Terminaling and Storage | $39.8M | $3.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue64¢$66.7M
- Other costs36¢$37.6M
- Income tax0¢$117.0K
Out of $104.4M in revenue.45 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Total revenues | $104.4M | $89.8M |
| Cost of revenues | $66.7M | $79.6M |
| Gross profit | $37.7M | $10.2M |
| Sales and marketing | $8.2K | $15.3K |
| General and administrative | $43.0M | $12.2M |
| Impairment expense | $40.6M | $8.6M |
| Amortization and depreciation | $18.0M | $11.4M |
| Total operating expenses | $101.6M | $32.2M |
| Gain (loss) from operations | -$63.8M | -$22.0M |
| Unrealized gain (loss) on marketable securities | -$413.2K | $165.3K |
| Gain (loss) on disposition of assets | -$1.2M | $57.2K |
| Gain on deconsolidation of subsidiary | $177.6K | |
| Loss on conversion of debt | -$17.4M | |
| Interest income | $73.5K | $60.4K |
| Interest expense | -$26.7M | -$4.7M |
| Interest expense - related parties | -$444.3K | -$121.5K |
| Other income (loss) | -$216.2K | $127.5K |
| Total other income (expense) | -$46.3M | -$4.2M |
| Loss before provision for income taxes | -$110.1M | -$26.2M |
| Provision for income taxes | -$117.0K | -$126.9K |
| Consolidated net loss | -$110.2M | -$26.4M |
| Less: Net loss attributable to noncontrolling interests | -$5.1K | -$4.2M |
| Net loss attributable to Vivakor, Inc. | -$110.2M | -$22.2M |
| Series A Preferred Stockholder Dividends | $5.1M | $853.2K |
| Net loss to common shareholders | -$115.3M | -$23.0M |
| Basic net loss per share | -$318.01 | -$151.32 |
| Diluted net loss per share | -$318.01 | -$151.32 |
| Basic weighted average common shares outstanding | 362.6K shares | 152.3K shares |
| Diluted weighted average common shares outstanding | 362.6K shares | 152.3K shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $265.0K | $651.0K | |
| Cash - restricted | $1.8M | $3.0M | |
| Accounts receivable, net of allowance for credit losses of $0 at December 31, 2025 and December 31, 2024, respectively | $3.5M | $1.6M | |
| Accounts receivable - related party | $1.4M | $4.6M | |
| Prepaid expenses | $832.8K | $1.2M | |
| Marketable securities | $247.9K | $661.1K | |
| Inventories | $82.4K | $205.5K | |
| Total current assets | $8.2M | $12.0M | |
| Other assets | $491.2K | $3.6M | |
| Notes receivable | $279.6K | $242.7K | |
| Property and equipment, net | $58.3M | $100.0M | |
| Right of use assets - operating leases | $494.8K | $4.9M | |
| Intellectual property, net | $7.5M | $8.3M | |
| Customer relationships, net | $38.2M | $43.0M | |
| Goodwill | $68.9M | $15.0M | |
| Total assets | $113.5M | $241.0M | |
| Accounts payable and accrued expenses | $14.0M | $34.3M | |
| Accounts payable and accrued expenses - related parties | $1.8M | $832.0K | |
| Accrued compensation | $41 | $1.2M | |
| Unearned revenue | $9.1M | $9.1M | |
| Operating lease liabilities, current | $272.5K | $2.6M | |
| Finance lease liabilities, current | $9.1M | $4.3M | |
| Loans and notes payable, current | $7.4M | $39.0M | |
| Loans and notes payable, current - related parties | $3.6M | $22.1M | |
| Derivative liabilities | $9.1M | ||
| Other liabilities | $7.1M | ||
| Total current liabilities | $61.5M | $113.5M | |
| Operating lease liabilities, long term | $222.3K | $2.2M | |
| Finance lease liabilities, long term | $5.1M | ||
| Loans and notes payable, long term | $7.9M | $4.9M | |
| Loans and notes payable, long term - related parties | $6.7M | ||
| Deferred tax liability | $0 | $154.4K | |
| Total liabilities | $76.3M | $125.9M | |
| Preferred stock, $0.001 par value; 15,000,000 shares authorized, 96,731 and 107,789 outstanding as of December 31, 2025 and December 31, 2024 | $97 | $108 | |
| Common stock, $0.001 par value; 500,000,000 shares authorized; 2,013,106 and 208,546 were issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $402.6K | $41.7K | |
| Additional paid-in capital | $245.2M | $208.2M | |
| Treasury stock, at cost | -$20.0K | -$20.0K | |
| Accumulated deficit | -$204.3M | -$89.0M | |
| Total Vivakor, Inc. stockholders equity (deficit) | $41.3M | $119.2M | |
| Noncontrolling interest | -$4.1M | -$4.1M | |
| Total stockholders equity (deficit) | $37.2M | $115.1M | $17.2M |
| Total liabilities and stockholders equity (deficit) | $113.5M | $241.0M | |
| Allowance for credit losses | $0 | $0 | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock shares authorized | 15.0M shares | 15.0M shares | |
| Preferred stock shares outstanding | 96.7K shares | 107.8K shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 500.0M shares | 500.0M shares | |
| Common stock, shares outstanding | 2.0M shares | 208.5K shares | |
| Common stock, shares issued | 2.0M shares | 208.5K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $265.0K | $651.0K | |
| Cash - restricted | $1.8M | $3.0M | |
| Accounts receivable, net of allowance for credit losses of $0 at December 31, 2025 and December 31, 2024, respectively | $3.5M | $1.6M | |
| Accounts receivable - related party | $1.4M | $4.6M | |
| Prepaid expenses | $832.8K | $1.2M | |
| Marketable securities | $247.9K | $661.1K | |
| Inventories | $82.4K | $205.5K | |
| Total current assets | $8.2M | $12.0M | |
| Other assets | $491.2K | $3.6M | |
| Notes receivable | $279.6K | $242.7K | |
| Property and equipment, net | $58.3M | $100.0M | |
| Right of use assets - operating leases | $494.8K | $4.9M | |
| Intellectual property, net | $7.5M | $8.3M | |
| Customer relationships, net | $38.2M | $43.0M | |
| Goodwill | $68.9M | $15.0M | |
| Total assets | $113.5M | $241.0M | |
| Accounts payable and accrued expenses | $14.0M | $34.3M | |
| Accounts payable and accrued expenses - related parties | $1.8M | $832.0K | |
| Accrued compensation | $41 | $1.2M | |
| Unearned revenue | $9.1M | $9.1M | |
| Operating lease liabilities, current | $272.5K | $2.6M | |
| Finance lease liabilities, current | $9.1M | $4.3M | |
| Loans and notes payable, current | $7.4M | $39.0M | |
| Loans and notes payable, current - related parties | $3.6M | $22.1M | |
| Derivative liabilities | $9.1M | ||
| Other liabilities | $7.1M | ||
| Total current liabilities | $61.5M | $113.5M | |
| Operating lease liabilities, long term | $222.3K | $2.2M | |
| Finance lease liabilities, long term | $5.1M | ||
| Loans and notes payable, long term | $7.9M | $4.9M | |
| Loans and notes payable, long term - related parties | $6.7M | ||
| Deferred tax liability | $0 | $154.4K | |
| Total liabilities | $76.3M | $125.9M | |
| Preferred stock, $0.001 par value; 15,000,000 shares authorized, 96,731 and 107,789 outstanding as of December 31, 2025 and December 31, 2024 | $97 | $108 | |
| Common stock, $0.001 par value; 500,000,000 shares authorized; 2,013,106 and 208,546 were issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $402.6K | $41.7K | |
| Additional paid-in capital | $245.2M | $208.2M | |
| Treasury stock, at cost | -$20.0K | -$20.0K | |
| Accumulated deficit | -$204.3M | -$89.0M | |
| Total Vivakor, Inc. stockholders equity (deficit) | $41.3M | $119.2M | |
| Noncontrolling interest | -$4.1M | -$4.1M | |
| Total stockholders equity (deficit) | $37.2M | $115.1M | $17.2M |
| Total liabilities and stockholders equity (deficit) | $113.5M | $241.0M | |
| Allowance for credit losses | $0 | $0 | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock shares authorized | 15.0M shares | 15.0M shares | |
| Preferred stock shares outstanding | 96.7K shares | 107.8K shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 500.0M shares | 500.0M shares | |
| Common stock, shares outstanding | 2.0M shares | 208.5K shares | |
| Common stock, shares issued | 2.0M shares | 208.5K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Consolidated net loss | -$110.2M | -$26.4M |
| Amortization and depreciation | $18.0M | $11.4M |
| Impairment loss | $40.6M | $8.6M |
| Stock-based compensation | $1.5M | $2.6M |
| Stock-based compensation - consultant | $1.9M | $20.0K |
| Unrealized gain (loss) on marketable securities | $413.2K | -$165.3K |
| Gain (loss) on disposition of assets | $1.2M | |
| Loss on conversion of debt | $17.4M | |
| Gain on forgiveness of debt | -$2.0M | |
| Gain on deconsolidation of subsidiary | -$177.6K | |
| Noncash interest charges | $17.4M | $4.8M |
| Deferred tax liability | $117.0K | $66.1K |
| Adjustments from operating leases | -$243.8K | $39.4K |
| Interest on notes receivable | -$36.8K | -$25.5K |
| Accounts receivable | -$22.8M | -$5.1M |
| Prepaid expenses | $351.9K | $970.2K |
| Inventories | $101.6K | -$114.4K |
| Other assets | $25.0K | -$2.2M |
| Accounts payable and accrued expenses | $13.4M | $7.5M |
| Operating lease liabilities | $7.1M | $0 |
| Net cash provided by (used in) operating activities | -$15.8M | $1.8M |
| Return of cash for divestiture | -$746.1K | |
| Acquisition of assets | $4.8M | |
| Proceeds from sale of property and equipment | $2.4M | |
| Purchase of equipment | -$25.5K | -$4.5M |
| Net cash provided by (used in) investing activities | $1.7M | $302.2K |
| Payment on financing lease liabilities | -$2.6M | -$2.0M |
| Proceeds from loans and notes payable | $18.0M | $5.8M |
| Proceeds from loans and notes payable - related party | $3.1M | $1.7M |
| Payment of notes payable | -$12.9M | -$3.3M |
| Payment of notes payable - related party | -$2.7M | -$2.8M |
| Proceeds from sale of common stock | $9.7M | $1.4M |
| Net cash provided by (used in) financing activities | $12.5M | $819.7K |
| Net increase (decrease) in cash and cash equivalents | -$1.6M | $2.9M |
| Interest | $1.1M | $1.0M |
| Return of preferred stock as consideration for divestiture, net | $1.5M | |
| Common stock and Series A preferred stock issued for acquisition | $116.3M | |
| Accounts payable on purchase of equipment | $2.8M | |
| Notes payable settled against working capital items for netting arrangement | $19.2M | |
| Security deposits and reserves applied to finance lease liabilities | $3.0M | |
| Series A preferred shareholder stock dividends | $5.1M | $853.2K |
| Common stock issued with debt | $1.4M | $944.3K |
| Common stock issued for a reduction in liabilities | 719.6K shares | 859.3K shares |
| Common stock issued for legal settlement | 2.0M shares | |
| Common stock issued for services | $735.6K | |
| Common stock issued on conversion of debt | $16.6M | $2.2M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Vivakor, Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
2010201520202025
- Chief executive officerMatthew Nicosia Feb 18, 2022 to Jun 13, 202212
- Chief executive officerJames H. Ballengee Nov 29, 2022 to now13
- Chief executive officerEd Corrente Oct 13, 2009 to Oct 13, 200914
- Chief executive officerTannin J. Fuja Dec 23, 2008 to Oct 13, 200915
- ChairJames H. Ballengee Aug 6, 2024 to now16
- PresidentJames H. Ballengee Aug 6, 2024 to now16
- PresidentEd Corrente Oct 13, 2009 to Oct 13, 200914
- PresidentTannin J. Fuja Dec 23, 2008 to Oct 13, 200915
- Chief financial officerKimberly Ann Hawley Dec 4, 2025 to now17
- Chief financial officerTyler Robert Nelson Mar 2, 2022 to Jun 13, 202218
- Chief financial officerEd Corrente Dec 23, 2008 to Oct 13, 200919
Board members and other officers (10)
- EVP, Gen. Counsel, & SecretaryPatrick Knapp Jul 30, 2024 to Jul 30, 202420
- Board memberTrent Philip Staggs Feb 24, 2022 to Oct 26, 202221
- Board memberJoseph S. Spence Jr. Feb 28, 2022 to Feb 28, 202222
- Board memberJames H. Ballengee Nov 29, 2022 to now13
- Board memberDavid Natan Dec 19, 2022 to Dec 19, 202223
- Board memberJohn Gryga Oct 9, 2009 to Apr 20, 201024
- Board memberFritz Lin Dec 4, 2009 to Apr 20, 201025
- Board memberFrancis Wen-Hou Chen Dec 9, 2009 to Dec 9, 200926
- Board memberMatthew Nicosia Dec 23, 2008 to Jun 13, 202227
- Board memberTannin J. Fuja Dec 23, 2008 to Oct 13, 200915
Named in SEC Form D filings
People the company listed in its private-offering notices.
Timeline
Filings
266 filings to the SEC since October 2021: 7 annual reports, 14 quarterly reports, 119 major events, 30 insider forms, 1 large holders, 1 private raises, 94 other. The latest 20:
- Oct 15, 20268-K EDGAR
- Oct 9, 20268-K EDGAR
- Oct 6, 20268-K EDGAR
- Sep 30, 20268-K EDGAR
- Sep 9, 20268-K EDGAR
- Aug 19, 202610-Q EDGAR
- Aug 14, 2026NT 10-Q EDGAR
- Aug 13, 20268-K EDGAR
- Aug 4, 20268-K EDGAR
- Jul 27, 20268-K EDGAR
- Jul 21, 20268-K EDGAR
- Jul 21, 2026424B3 EDGAR
- Jul 16, 2026EFFECT EDGAR
- Jul 16, 20268-K EDGAR
- Jul 10, 20268-K EDGAR
- Jun 30, 20268-K EDGAR
- Jun 25, 2026S-1/A EDGAR
- Jun 18, 20268-K EDGAR
- Jun 15, 20268-K EDGAR
- Jun 10, 2026S-8 EDGAR
The 266 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
15 open-market trades by officers, directors and large owners since October 2021: 15 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 3, 2024 | Ballengee James H.CEO | Buy | 1,000 | $1.57 | $1.6K | Form 4 |
| May 31, 2024 | Ballengee James H.CEO | Buy | 12,612 | $1.53 | $19.3K | Form 4 |
| May 30, 2024 | Ballengee James H.CEO | Buy | 15,139 | $1.52 | $23.0K | Form 4 |
| May 29, 2024 | Ballengee James H.CEO | Buy | 42,098 | $1.35 | $56.8K | Form 4 |
| May 28, 2024 | Ballengee James H.CEO | Buy | 15,277 | $1.37 | $20.9K | Form 4 |
| May 24, 2024 | Ballengee James H.CEO | Buy | 41,381 | $1.27 | $52.6K | Form 4 |
| May 23, 2024 | Ballengee James H.CEO | Buy | 30,744 | $1.29 | $39.7K | Form 4 |
| Apr 24, 2024 | Ballengee James H.CEO | Buy | 47,500 | $1.59 | $75.5K | Form 4 |
| Apr 23, 2024 | Ballengee James H.CEO | Buy | 54,500 | $1.44 | $78.5K | Form 4 |
| Apr 22, 2024 | Ballengee James H.CEO | Buy | 138,000 | $1.37 | $189.1K | Form 4 |
| Apr 19, 2024 | Ballengee James H.CEO | Buy | 30,000 | $1.12 | $33.6K | Form 4 |
| Feb 23, 2022 | Nicosia MatthewChief Executive Officer | Buy | 3,528 | Form 4 | ||
| Feb 17, 2022 | Nicosia MatthewChief Executive Officer | Buy | 320 | $2.95 | $944 | Form 4 |
| Feb 16, 2022 | Nicosia MatthewChief Executive Officer | Buy | 591 | $3.05 | $1.8K | Form 4 |
| Feb 16, 2022 | Nicosia MatthewChief Executive Officer | Buy | 320 | $2.95 | $944 | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- James H. BallengeeSC 13D, 1 filing Aug 11, 202229
Money raised
Private offerings the company reported to the SEC on Form D.
- May 14, 2025Raised $650,000 in a private offering of securities Form D: $5 million offered in all Form D
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARVivakor, Inc. filings on SEC EDGAR
- 2SEC EDGARVivakor, Inc. filings on SEC EDGAR
- 3
- 4SEC EDGARVivakor, Inc. 10-K for fiscal 2025
- 5SEC EDGARVivakor, Inc. 10-K for fiscal 2025
- 6SEC EDGARVivakor, Inc. 10-K for fiscal 2020
- 7SEC EDGARVivakor, Inc. 10-K for fiscal 2021
- 8SEC EDGARVivakor, Inc. 10-K for fiscal 2022
- 9SEC EDGARVivakor, Inc. 10-K for fiscal 2023
- 10SEC EDGARVivakor, Inc. 10-Q for fiscal 2025
- 11SEC EDGARVivakor, Inc. 10-Q for fiscal 2026
- 12
- 13
- 14SEC EDGAREd Corrente, Chief executive officer
- 15
- 16SEC EDGARJames H. Ballengee, Chair
- 17
- 18
- 19SEC EDGAREd Corrente, Chief financial officer
- 20
- 21SEC EDGARTrent Philip Staggs, Board member
- 22SEC EDGARJoseph S. Spence Jr., Board member
- 23SEC EDGARDavid Natan, Board member
- 24SEC EDGARJohn Gryga, Board member
- 25SEC EDGARFritz Lin, Board member
- 26SEC EDGARFrancis Wen-Hou Chen, Board member
- 27SEC EDGARMatthew Nicosia, Board member
- 28
- 29