other material
confidence high
sentiment negative
materiality 0.80
Vivakor issues ~10.9M shares on conversion of $1.05M convertible note
Vivakor, Inc.
- Lender J.J. Astor & Co. converted $350k each on Oct 10, 15, 16 into 3.3M, 3.8M, 3.8M shares.
- Conversion price ranged from ~$0.092 to $0.105 per share, implying heavy dilution.
- Shares issued without Rule 144 legend, allowing immediate resale.
- Note originally issued Mar 2025 for $6.625M principal; $5M net proceeds received.