Vivakor raises $500K net via convertible notes; issues 1.76M shares for dividends to CEO-controlled entities

Vivakor, Inc.

Issued convertible notes with $575K principal ($500K net) to accredited investors; 12-month maturity, 10% interest at issuance, 15% OID.
Notes convertible at 80% of lower of prior day's close or avg of 4 lowest VWAPs over 20 trading days; also issued 75,000 inducement shares.
Issued 1,764,964 restricted common shares for Series A preferred dividends; 1,384,311 to CEO-controlled Jorgan Development, 13,983 to JBAH Holdings.
SPA allows up to $5.75M principal ($5M purchase) through June 30, 2025; initial close is $575K principal.

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