other material
confidence high
sentiment negative
materiality 0.65
Vivakor amends 8-K; hires consultant for up to $1.3M/yr, extends CFO note with 5% penalty, issues stock to insiders
Vivakor, Inc.
- Entered consulting with WSGS for up to $1.3M/yr in stock; 1-yr term with option for second year.
- CFO Tyler Nelson note maturity extended to June 30, 2025; 5% fee added on outstanding balance as of Dec 31, 2024.
- Hired Andre Johnson as VP HR; salary $180k (Oct-Dec 2024) then $200k, plus $75k equity/yr and $250k signing bonus in stock.
- Issued 56,880 Series A Preferred shares (incl. 16,880 escrowed) to sellers of Endeavor entities; stock also 24,291 common shares.
- Issued 160,266 shares to CEO Ballengee for services and 105,213 shares to CFO Nelson for bonuses on Feb 27, 2025.