James Ballengee - Aug 1, 2022 Form 3 Insider Report for Vivakor, Inc. (VIVK)

Role: 10%+ Owner
Signature: /s/ James Ballengee
Stock symbol: VIVK
Transactions as of: Aug 1, 2022
Transactions value $: $0
Form type: 3
Date filed: 8/11/2022, 05:37 PM
Next filing: Nov 29, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	VIVK	Common stock, par value $0.001						3.01M	Aug 1, 2022	See Footnote	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	VIVK	Promissory Note							Aug 1, 2022	Common stock			See Footnote	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.

Content

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

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.