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I just got alerted on VIVK. VIVK is a biomedical/biotechnology company with transdisciplinary research that develops and acquires products in the fields of molecular medicine, electro-optics, biological handling and natural and formulary compounds that extend or improve life. Comapny came with news this morning and looks like its setting itself up for a strong run next week. Awesome time to take a position in this one. Here is the latest news
Vivakor Announces Substantial Reduction of Company's Long Term Debt Position and Finalizes Health America Inc. Acquisition
CORALVILLE, Iowa, Jun 4, 2010 (GlobeNewswire via COMTEX) -- Vivakor, Inc. (OTCBB:VIVK) today announced the Company has reduced its long and short term debt by an additional $510,000 by converting those debts to shares of common stock. This substantial debt reduction through conversion to stock finalizes the acquisition payments for Health America Inc. and the VIVASLICES MRI software technology, which the company purchased in August of 2008. VIVASLICES is a software technology which increases image resolution of previous generations of MRI units, thereby saving hospitals and clinics with older equipment millions of dollars in costs related to purchasing new MRI units with enhanced image resolution capacity.
Vivakor Executive Chairman Matt Nicosia added this statement to the news: "This reduction of the Company's debt represents both the positive outlook by management and its creditors as we make progress on both the commercialization of VIVASLICES and other Vivakor technologies. Additionally the Company has now eliminated all of its long term debt, which increases shareholder equity and improves the balance sheet. This elimination of long term debt allows the Company to devote its resources to technology commercialization and development. We look forward to completing the Company's financing needs which will add to the Company's sustainability and improve the outlook for Vivakor."
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Vivakor Announces Receipt of LOI for $600k Investment
.Companies:Vivakor, Inc..Press Release Source: Vivakor, Inc. On Friday June 4, 2010, 4:30 pm EDT
CORALVILLE, Iowa, June 4, 2010 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK - News) today announced that the Company has received a letter of intent for an investment up to $600,000 from Excelsior Management. The terms of the transaction are for an investment in restricted common stock at $0.08 per share or shares registered in the current S-1 at the S-1 price of $0.23 per share.
Vivakor Chairman Matt Nicosia added this statement to the news: "This investment interest in Vivakor coincides with management's belief that the Company is currently undervalued and validates management's efforts to create value by reducing debt and increasing the viability of its technologies. We look forward to increasing the Company's value through pushing forward commercialization efforts for both VIVASLICES and VIVASIGHT."
About Vivakor, Inc.
Vivakor(TM) is a biomedical/biotechnology company with transdisciplinary research that develops and acquires products in the fields of molecular medicine, electro-optics, biological handling and natural and formulary compounds that extend or improve life. More information can be found about Vivakor at http://www.vivakor.com/.
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Vivakor, Inc. recently announced that its management increased the revenue outlook for its VivaThermic division. Increased global demand for disposable products used to support the stem cell research and therapy markets is following aggressive private and public funding of these markets. Vivakor's VivaThermic vials improve cryopreservation of sensitive cell types such as human stem cells. The potential market size for their VivaThermic vials has increased and could potentially be in excess of $20 million annually.
looking for a reversal play monday. positive buying volume will definitely show this. reversal at .046 last trade at .0369. found a video chart on VIVK with stockhideout's own TI reviewing chart.. http://www.screencast.com/t/YjE4ZGRm
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