Vivakor Announces Q4 and Year-End Results for Fiscal 2013
March 27 2014 - 11:43AM
Marketwired
Vivakor Announces Q4 and Year-End Results for Fiscal 2013
IRVINE, CA--(Marketwired -
March 27, 2014) - Vivakor Inc. (PINKSHEETS: VIVK) reports that the Company
closed its 2013 fourth quarter and year-end with strong financial
results. This makes the third successive quarter of positive
numbers from the Company. Much of this success is attributed
to the highly productive efficiency of its proprietary, industry
disruptive technology and methodology for extraction of Precious
Metals from ore bodies in Arizona and Colorado.
The disciplined capital allocation structure from the initial
capital raise that Vivakor adopted through 2013 has been at the
core of every decision made in the last year. This has put
Vivakor in a much stronger position to deal with the Precious
Metals supply and price environment the markets realistically face
today. Last year many of the Major and Junior Mining companies
announced a significant pullback and slowdown in their mining
operations toward the end of 2013 due to their high mining
costs. Vivakor however enjoys a highly efficient and optimized
extraction process with a low cost basis per ton of ore processed
and a very healthy gold equivalent yield realized per ton of sand
based ore that Vivakor processes.
Chairman and CEO Matt Nicosia stated, "We successfully executed
on our key priorities in 2013, which include operational
optimization, the acquisition of additional mining claims in
Arizona (increasing our asset base) and diversification of our
portfolio as we entered into a joint arrangement into Kyrgyzstan
toward the end of 2013. These were the right decisions for our
shareholders and for the Company, and now in 2014 we are seeing the
tangible benefits of our past efforts. We drove significant
growth in the stock price and capped off the year with a
substantial forward-stock split as we closed a momentous
2013. We will continue to build a stronger business by
delivering industry leading cost and efficiency along with stable
production as we further grow our processing capacity; through this
we build a stronger asset portfolio as we continue to increase our
cash position and reduce our liabilities."
"We are extremely pleased about our effort to continue to
maximize value for shareholders, and to position the business to
capture the benefits of precious metals demand growth and physical
inventory shortfall across the globe. Higher production output
increases asset growth and our low-cost extraction business model
ensures continued cash accruement going forward. Vivakor is
well poised to expand its operational capacity this year and
remains vigilant in its pursuit of other significant opportunities
as well in the near term. Continuing to build a solid
investment grade balance sheet is a major motivation in 2014."
ABOUT VIVAKOR, INC.
Vivakor, Inc. (PINKSHEETS: 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.
FORWARD-LOOKING STATEMENTS
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.
Attachment Available:
http://www.marketwire.com/library/MwGo/2014/3/27/11G013823/MultimediaAsset1-2020384404.pdf
Contact: Vivakor Investor Relations (949) 281-2606
irpr@vivakor.com