Vivakor, Inc. (VIVK): Nasdaq/NYSE listing notice — Vivakor receives Nasdaq bid-price deficiency notice; shareholders approve CEO compensation at 87% premium

Vivakor, Inc.

Nasdaq notified Vivakor of non-compliance: bid price below $1 for 33 consecutive days.
Company has 180 days, until May 20, 2024, to regain compliance with $1 close for 10 days.
At special meeting, all proposals approved with >90% votes, including CEO stock issuance at $1.42/share (87% premium).
Authorized shares increased to 200 million; acquisition stock issuance at $1.08/share (42% premium) approved.
CEO Ballengee is now largest shareholder and will take 100% salary in common stock.

item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

Vivakor, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

November 22, 2023, Vivakor, Inc. (the “Company”) received a deficiency notification letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the bid price for the Company’s common stock had closed below $1.00 per share for the previous 33 consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company can regain compliance with the minimum bid price requirement at any time within the 180 calendar day period following receipt of the Nasdaq noti

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Vivakor, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-23-007659

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