Vivakor, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 22, 2022 at 06:04 am
Share
Vivakor, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported net loss was USD 4.91 million compared to USD 9.41 million a year ago. Basic loss per share from continuing operations was USD 0.33 compared to USD 0.79 a year ago. Diluted loss per share from continuing operations was USD 0.33 compared to USD 0.79 a year ago.
For the six months, net loss was USD 5.51 million compared to net income of USD 0.10591 million a year ago. Basic loss per share from continuing operations was USD 0.38. Diluted loss per share from continuing operations was USD 0.38.
Vivakor, Inc. is a clean energy technology company. The Company is an operator, acquirer and developer of technologies and assets in the oil and gas industry, as well as related environmental solutions. The Company is primarily focused on operating crude oil gathering, storage and transportation facilities, as well as contaminated soil remediation services. Its soil remediation services specialize in the remediation of soil and the extraction of hydrocarbons, such as oil, from properties contaminated by or laden with heavy crude oil and other hydrocarbon-based substances. Its technologies include Hydrocarbon Extraction Technology, Automation and Machine Learning, and Hydrocarbon Upgrading Technologies. The Hydrocarbon Extraction Technology is aimed at remediating contaminated soil and recovering usable hydrocarbons, which is used in its remediation plants, also known as Remediation Processing Centers (RPCs).