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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 2,495,205 $ 3,101,186
Cash and cash equivalents attributed to variable interest entity 204,714 81,607
Accounts receivable 2,222,079 2,615,354
Accounts receivable- related party 150,115 948,352
Prepaid expenses 90,632 31,523
Marketable securities 1,156,928 1,652,754
Inventories 69,998 47,180
Other assets 770,829 700,298
Total current assets 7,160,500 9,178,254
Other investments 4,000 4,000
Property and equipment, net 23,808,236 22,578,876
Rights of use assets- operating leases 1,795,440 1,880,056
License agreements, net 1,741,946 1,772,153
Intellectual property, net 27,537,612 28,251,053
Goodwill 12,678,108 12,678,108
Total assets 74,725,842 76,342,500
Current liabilities:    
Accounts payable and accrued expenses 4,557,135 3,242,667
Accounts payable and accrued expenses- related parties 1,278,982 4,142,978
Accrued compensation 1,846,072 1,302,890
Operating lease liabilities, current 509,327 471,991
Finance lease liabilities, current 963,900 963,900
Loans and notes payable, current 894,000 885,204
Loans and notes payable, current attributed to variable interest entity 2,595,000 1,325,000
Loans and notes payable, current attributed to variable interest entity- related parties 944,500 599,500
Long-term debt (working interest royalty programs), current 13,341 9,363
Total current liabilities 13,602,257 12,943,493
Operating lease liabilities, long term 1,367,031 1,457,483
Finance lease liabilities, long term 2,203,395 2,298,960
Loans and notes payable, long term 28,016,224 28,383,950
Loans and notes payable, long term- related party 300,000 300,000
Long-term debt (working interest royalty programs) 4,572,043 3,897,553
Total liabilities 50,060,950 49,281,439
Stockholders’ equity:    
Convertible preferred stock, $0.001 par value; 3,400,000 shares authorized, none outstanding [1]
Common stock, $0.001 par value; 41,666,667 shares authorized; 18,064,838 were issued and outstanding as March 31, 2023 and December 31, 2022, respectively [1] 18,065 18,065
Additional paid-in capital 74,026,163 74,026,163
Treasury stock, at cost (20,000) (20,000)
Accumulated deficit (57,704,373) (55,169,781)
Total Vivakor, Inc. stockholders’ equity 16,319,855 18,854,447
Noncontrolling interest 8,345,037 8,206,614
Total stockholders’ equity 24,664,892 27,061,061
Total liabilities and stockholders’ equity $ 74,725,842 $ 76,342,500
[1] Share and per share amounts have been retroactively adjusted to reflect the one-for-thirty reverse stock split effective February 14, 2022. See Note 1 – Organization and Basis of Presentation for additional information.