Vivakor (NASDAQ:VIVK) Withdraws Designation of Preferred Stock Series

Vivakor, Inc. (Nevada, 001-41286, 26-2178141) announced in a recent 8-K filing that on February 6, 2025, they have officially withdrawn all previously designated series of preferred stock. This change was made through the filing of a Certificate of Amendment to the Company’s Amended and Restated Articles of Incorporation with the Secretary of State of Nevada.

As of February 6, 2025, Vivakor now has 15,000,000 shares of preferred stock authorized but with no shares designated to any series, and there are currently no shares of preferred stock outstanding. The details of this amendment can be found in Exhibit 3.1 attached to the 8-K filing.

The recent action taken by Vivakor entails a significant alteration in its capital structure and strategic financing decisions. This move aligns with the company’s objectives and signifies a shift in its operational focus. Investors are advised to keep track of further updates and disclosures from Vivakor to understand how this change may impact the company’s financial dynamics and future prospects.

The forward-looking statements included in the filing provide insights into the company’s plans and objectives for future operations. Readers are cautioned against placing undue reliance on these statements due to inherent risks and uncertainties. Vivakor disclaims any obligation to update these forward-looking statements in response to new information or changing circumstances, except as required by law.

As part of the regulatory requirements, Vivakor has furnished the necessary financial reports and exhibits associated with this development, adhering to the guidelines outlined in the 8-K filing. For a more comprehensive understanding of these modifications and their implications, interested parties are encouraged to review the complete filing available through the Securities and Exchange Commission.

This report was signed and authorized by James H. Ballengee, Chairman, President, and CEO of Vivakor, Inc., on February 12, 2025. It stands as a formal acknowledgment of the recent adjustments in the company’s capital structure and operational strategy.

It is essential for stakeholders and market observers to stay informed about Vivakor’s future moves and financial performance in light of these pivotal changes regarding its preferred stock structure.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vivakor’s 8K filing here.

About Vivakor

Vivakor, Inc operates, acquires, and develops technologies and assets in the oil and gas industry and related environmental solutions in the United States and Kuwait. The company owns and operates a crude oil gathering, storage, and transportation facility in Delhi, Louisiana. It also owns a crude oil storage tank located near Colorado City, Texas.