|By Marketwired .||
|May 19, 2014 09:49 PM EDT||
IRVINE, CA--(Marketwired - May 19, 2014) - Vivakor Inc. (PINKSHEETS: VIVK) today announced GAAP based financial results for the quarter ended March 31, 2014.
Q1 Financial Highlights
- VivaVentures Inc. exceeded quarter over quarter expectations on its metals production by 12% as previously reported on April 16, 2014.
- Total Assets increased over 25% for the quarter ended March 31, 2014.
- Vivakor reports decreased liabilities by $872K or 17.45% from the previous quarter ended December 31, 2013.
- The Company reports an increase in shareholder equity of $1.45M for the quarter ended March 31, 2014, an increase of 25.3% compared to the fourth quarter of 2013.
- The Company entered into a Royalty Land Lease Agreement with National Reserves Mining Statutory Trust (NRMST) spanning ten (10) years with a minimum value to Vivakor of Fifty Million ($50M) dollars over that period.
Vivakor established increasing efficiencies to its operating model in order to further sharpen its focus on value. This was in anticipation of the new scaled-up extraction machine coming on-line in May 2014. The progressive momentum in production output will continue in the form of lower costs, improved yield and greater cash flow for the Company.
The longer-range strategy is to increase its capital position in support of continued procurement of strategic assets. Vivakor maintains a commitment to a seamless asset acquisition plan that is supported strongly by protection of all its assets and is comprised of the following:
- Qualitative/Best-Practices Model for managing Vivakor, Inc.
- Built on increasing Net Present Value (NPV)
- Increasing the Company's Book Value
- Driving Earnings and keeping Operating Expenses low
- Capital accumulation for asset acquisition which includes:
- Precious Metal Extraction Machines
- In-Ground Asset Acquisition
- Investments in other income producing assets and/or strategic technologies
Vivakor realizes a very strong precious metals yield through a highly efficient and optimized mining extraction processs that is proprietary with a very low cost basis per ton of ore processed.
Chairman and CEO Matt Nicosia stated, "We are very pleased about our continued ability to drive value for shareholders, and to position the business to capture the benefits of continued demand growth in this sector in the longer term. We have now been able to attain four successive quarters of overall positive results.
"Higher production output has enabled us to increase our total asset growth for the company in four consecutive quarters while reducing our liabilities. Our highly efficient extraction process enables continued asset accrual going forward. Last year we improved by 35% quarter-over-quarter our total ounces accumulated from our mining operations and this year we are off to a great start.
"The addition of more robust metals extraction units this year is setting the stage for Vivakor's long-range positioning in the Precious Metals markets and we're excited about that prospect! We appreciate the trust and marked confidence in Vivakor."
ABOUT VIVAKOR, INC.
Vivakor, Inc. (VIVK) is an Asset Acquisition company that develops and acquires resources that generate revenue currently or in the near term. The Company acquires technologies and assets primarily in the field of Natural Resources. Vivakor has several mineral assets that have great value and create a cash flow and a long term revenue stream for the Company. Additionally, the Company has effectively acquired positions in other Green Energy companies. Vivakor has several operating assets that produce revenues and cash flow to the Company. The general business model is to acquire cash-flowing or near term cash-flowing mineral and or technology assets with an identified need or a substantial market opportunity. For more information please visit www.vivakor.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
Vivakor Investor Relations
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jul. 31, 2016 12:45 AM EDT Reads: 2,041
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Jul. 30, 2016 11:30 PM EDT Reads: 1,337
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Jul. 30, 2016 10:30 PM EDT Reads: 1,944
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Jul. 30, 2016 09:45 PM EDT Reads: 1,320
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 30, 2016 09:45 PM EDT Reads: 1,497
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 30, 2016 09:30 PM EDT Reads: 1,533
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Jul. 30, 2016 07:30 PM EDT Reads: 1,768
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Jul. 30, 2016 07:30 PM EDT Reads: 1,318
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jul. 30, 2016 07:00 PM EDT Reads: 2,777
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Jul. 30, 2016 05:00 PM EDT Reads: 1,311
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 30, 2016 04:30 PM EDT Reads: 2,283
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Jul. 30, 2016 04:30 PM EDT Reads: 586
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Jul. 30, 2016 04:30 PM EDT Reads: 1,128
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Jul. 30, 2016 04:15 PM EDT Reads: 660
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Jul. 30, 2016 02:30 PM EDT Reads: 1,080