Vivakor issues 3.92M shares to J.J. Astor on conversion of $400K of convertible note

Vivakor, Inc.

Lender converted $400,000 of principal amount into 3,923,492 shares of common stock on Oct 23, 2025.
Shares were issued without Rule 144 restrictive legend based on legal opinion, exempt under Section 4(a)(2).
Conversion price per share implied at approximately $0.102, significantly below recent market price.
Initial note was for $6.625M principal; company received $5M net in March 2025.
Lender J.J. Astor & Co. continues to hold remaining $6.225M principal balance.

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