XML 46 R31.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Business Combination (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

Schedule of recognized identified assets acquired and liabilities assumed
Common stock		$	4,287,655
Note payable to seller			28,664,284
Fair value of total consideration paid		$	32,951,939
Net assets acquired and liabilities assumed
Assets acquired in business combination
Current assets		$	6,573,359
Finance lease right-of-use assets (property, plant and equipment)			3,579,544
Property, plant and equipment, net			705,110
Other assets			546,834
Contract-based intangible assets			16,788,758
Total assets acquired		$	28,193,605
Liabilities assumed in business combination
Current liabilities		$	(7,489,639	)
Long term liabilities			(2,736,795	)
Total liabilities acquired		$	(10,226,434	)
Total net assets acquired		$	17,967,171
Goodwill		$	14,984,768

Schedule of proforma information

Schedule of proforma information
		(Unaudited)
		Years ended December 31,
		2022				2021
Total net sales		$	64,009,714			$	34,361,233
Loss from operations			21,659,746				7,429,978
Net loss (attributable to Vivakor, Inc.)		$	23,944,546			$	8,085,238
Basic and diluted loss per share			(1.35	)			(0.54	)
Weighted average shares outstanding- Basic and diluted			17,733,117				14,985,668

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration