XML 35 R20.htm IDEA: XBRL DOCUMENT
v3.23.1

Accounts Payable and Accrued Expenses | 12 Months Ended
--- | ---
Dec. 31, 2022
Payables and Accruals [Abstract] |
Accounts Payable and Accrued Expenses | Note 14. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consist of the following:
Schedule of accounts payable and accrued expenses |  |  |  |  |  |  |  |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Accounts payable |  | $ | 5,022,302 |  |  | $ | 1,450,531 |
Office access deposits |  |  | 235 |  |  |  | 340 |
Accrued compensation |  |  | 1,302,890 |  |  |  | 175,000 |
Unearned revenue |  |  | 20,936 |  |  |  | - |
Accrued interest (various notes and loans payable |  |  | 380,175 |  |  |  | - |
Accrued interest (working interest royalty programs) |  |  | 1,437,711 |  |  |  | - |
Accrued tax penalties and interest |  |  | 524,286 |  |  |  | 398,114 |
Accounts payable and accrued expenses |  | $ | 8,688,535 |  |  | $ | 2,023,985 |
As of December 31, 2022, our accounts payable are primarily made up of trade payable for the purchase of for crude oil. Trade accounts payables in the amount of $4,000,681 is with a vendor who our CEO is a beneficiary of. $37,685 of accounts payable related to services rendered, which are not trade payables, are with a vendor who our CEO is a beneficiary of. $43,934 of accounts payable related to services rendered, which are not trade payables, are with a vendor where our Chief Financial Officer sits on the board of the directors and is an officer. As of December 31, 2021 the Company accrued $225,000 for a milestone payment to be paid to TBT Group, Inc. (of which an independent Vivakor Board member is a 7% shareholder) related to our worldwide, exclusive license agreement for the license of piezo electric and energy harvesting technologies for creating self-powered sensors for making smart roadways. This milestone payment was paid in March 2022. In March 2023, the Compensation Committee reviewed the Company’s 2022 results, including, but not limited to, the progress of the Company’s historic business and certain acquisitions completed by the Company, and approved discretionary bonuses, which have been accrued as of December 31, 2022, for the Chief Financial Officer, and an acquisition consultant, in the amounts of $505,467 (included in accrued compensation) and $421,222 (included in accounts payable), respectively.

X
- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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