LAS VEGAS, NV—(Marketwired – April 01, 2016) – Â Vivakor Inc.Â (OTC PINK: VIVK) announced GAAP based financial results for the quarter and fiscal year which ended December 31, 2015.
The following represent some of the highlights for the fourth–quarter (4Q2015):
- Registered the Company in the Middle East and opened an office in Doha, Qatar in the quarter ended December 31, 2015
- Successfully tested various oil material from the Middle East utilizing their proprietary process and solvent for separating oil from sand
- Completed the major build of its flagship eco–friendly, closed–loop mobile oil extraction unit (250–barrel capacity per day per unit)
- Shareholder Equity increased to $24M for the quarter ended December 31, 2015.Â This represents over 131% increase year–over–year
- Total Assets increased to $24.97M for the quarter ended December 31, 2015.Â Total assets have increased 126% year–over–year
Vivakor continues to focus on asset accrual in their Precious Metals and Energy Business Units.Â The Company operates its multiple precious metal extraction processing machines from its processing facility in Henderson, NV. They have eighteen (18) sizable mineral claims within the Southwest US.Â The Southwestern US produces in excess of 5 million ounces of gold annually.Â Additionally, the Company developed a proprietary, environmentally clean solvent and closed–loop methodology for extraction of oil from the designated Oil Sands area in Eastern Utah.Â They have leased land in the area near Vernal, UT. Eastern Utah has over 32 billion barrels of proven oil reserves within the rich oil sands in the State.Â Vivakor also has the ability to do remediation and reclamation of contaminated sands from oil spills and recently opened an office in Doha, Qatar.
Vivakor's intellectual properties are proprietary and proving industry disruptive with a low cost basis in their operational model in the natural resources space. These asset classes provide Vivakor with a significant capability and opportunity going forward for its investors.
ABOUT VIVAKOR, INC.
For more information please visit www.vivakor.com
This news release may contain forward–looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.Â Such statements are based upon our current expectations and speak only as of the date hereof.Â Our actual results may differ materially and adversely from those expressed in any forward–looking statements as a result of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions.Â 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 may be incorporated herein by reference.Â Forward–looking statements may be identified but not limited 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.Â We undertake no obligation to revise or update publicly any forward–looking statements for any reason.