XML 19 R8.htm IDEA: XBRL DOCUMENT
v3.22.1

Liquidity | 12 Months Ended
--- | ---
Dec. 31, 2021
Liquidity |
Liquidity | Note 2. Liquidity We have historically suffered net losses and cumulative negative cash flows from operations, and as of December 31, 2021, we had an accumulated deficit of approximately $35.7 million. As of December 31, 2021 we had cash of $1,493,719. To date we have financed our operations primarily through debt financing, private equity offerings and our working interest agreements. For the year ended December 31, 2021 and 2020, we issued none and $624,907 noncontrolling units of RPC Design and Manufacturing, LLC (“RDM”), respectively, made payments on our working interest agreement with RII of $7,735 and $116,535, respectively, and we also received proceeds of $9,135,984 and $2,231,796 related to the issuance of convertible bridge notes and other loans. For the years ended December 31, 2021 and 2020, as included in the proceeds above, we obtained two Paycheck Protection Program loans for $295,745 and $295,745 that may be forgiven under the CARES Act, if we can demonstrate that the proceeds from the loan were used for eligible expenses. We also obtained loans from the Small Business Administration in the amount of $299,900 in May 2020, as included in the proceeds above. In addition, for the years ended December 31, 2021 and 2020, the Company received debt financing of $8,090,000 and $735,000 through the operations of Viva Wealth Fund I, LLC, which debt converts into Viva Wealth Fund I units at the earlier of 6 months or the minimum raise of $6,250,000 to build a Remediation Processing Center (“RPC”) system. As of December 31, 2021, $5,560,000 of this debt financing has converted to noncontrolling units in Viva Wealth Fund I, LLC. We believe we have other liquid assets that may be used to assist in financing the operations of the Company if needed, including marketable securities in Scepter, which hold a fair value $2,231,218 as of December 31, 2021 and have been deposited for trading. Subsequent to December 31, 2021, the Company closed its underwritten public offering of 1,600,000 shares of common stock, at a public offering price of $5.00 per share, for aggregate gross proceeds of $8 million, prior to deducting underwriting discounts, commissions, and other offering expenses. We believe the liquid assets from the Company’s available for sale investments and funding provided from subsequent fundraising activities of the Company give it adequate working capital to finance our day-to-day operations for at least twelve months through March 2023.

X
- References No definition available. + Details
Name: | VIVK_DisclosureLiquidityAbstract
Namespace Prefix: | VIVK_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | VIVK_LiquidityTextBlock
Namespace Prefix: | VIVK_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration