Vivakor, Inc. — Director's Dealing 2022

Aug 11, 2022

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Vivakor, Inc. (VIVK)
CIK: 0001450704
Period of Report: 2022-08-01

Reporting Person: Ballengee James H. (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock, par value $0.001	3009552	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Promissory Note	$	2025-08-01	Common stock ()		Indirect

Footnotes

F1: Mr. Ballengee has beneficial ownership of shares owned by Jorgan Development, LLC (2,979,456 shares) and JBAH Holdings, LLC (30,096 shares).

F2: August 1,2022, Vivakor, Inc. ("Vivakor") issued 3-year secured, convertible promissory notes ("Notes") in the aggregate principal amount of $28,664,284 to Jorgan Development, LLC ($28,337,641) and JBAH Holdings, LLC ($286,643). Payment of principal and interest is payable monthly on the twentieth day of the month with the first payment payable on September 20, 2022. Subject to compliance with Nasdaq Rule 5635(d), on each payment date, Vivakor can make payment of principal and interest in the form of unrestricted shares of Vivakor common stock valued at the five-day volume weighted average price for Vivakor's common stock during the 5 trading days immediately preceding the issuance date ("Stock"). No more than 50% of any monthly payment of principal and interest and no more than 50% of the original principal amount of the Notes can be paid in Stock without the consent of the applicable noteholder.