Tomco Energy Share Discussion Threads

[lopodop] 23/3/2022 19:59

TD
If the auditors find their association with Tom an embarrassment, let them spare a thought or two for the hapless investors who have absolutely no information about the current plight.
What is the point in letting Tom carry on carrying on if the management does not have the skills to run the business - this is what it is and has been about. How does BDO rate the leadership?

[lopodop] 23/3/2022 19:59

TD
If the auditors find their association with Tom an embarrassment, let them spare a thought or two for the hapless investors who have absolutely no information about the current plight.
What is the point in letting Tom carry on carrying on if the management does not have the skills to run the business - this is what it is and has been about. How does BDO rate the leadership?

[the diddymen] 23/3/2022 17:10

Worth pointing out that for the going concern review the Heads of Terms will have to be binding, if this is central to the liquidity of TOM.

Just my view, and we tend to be right on this side of the fence, but if there are binding terms it will be the last moment, so in about 14 weeks.

[ducky fuzz] 23/3/2022 16:22

I do agree with your comments AJ .. I also understand rmart's frustration. The funding is such a big deal for the share price and our future.

[ajj2003] 23/3/2022 16:19

Anybody would think we had not had an update for months and months, it has been less than two weeks folks so a sense of realism would not go a miss.

Regarding the Terms Sheet (thanks DF ;)), we have already been given notice by the company (proactive investors interview) of projected timescales but nowhere to my knowledge did the company say that receipt of the Terms Sheet would be notified in a RNS. I personally would prefer that it was but can understand why it may not, given everything else that is going on.

No doubt there is lots going on behind the scenes so more than willing to let it play out.

[joeblogg2] 23/3/2022 16:04

Yes very disappointing rmart especially with USA wanting the resource more urgently!!

[vauch] 23/3/2022 16:03

I have a suspicion that the delay in funding note has something to do with PQE.
As the delay seems to mirror the PQE delay in it sale.

[ducky fuzz] 23/3/2022 16:03

Hi rmart .. I don't think us not getting news is because there is bad news coming. I think the delay is down to TOMco getting the best deal it can. There is no urgency to get the funding in the very short term. We don't need it till we start the production wells and we won't start the production wells till we get the exploration well results.

In the future I hope TOMco are much more vague in their prediction dates. Like Q3 etc .. DF

[rmart] 23/3/2022 15:51

Just thought someone should stick a post on today. Look what has happened. Missed self imposed dates have destroyed any interest or confidence.

tick tock. Into week 8.

No drill news either.

[lopodop] 23/3/2022 08:04

Vauch
JP knows that when he issues a few titbits, the rank and file take the bait. The titbits tend to be open ended but these are usually well received. Then investors like RM descend into deep depression when the inevitable silences prevail.
Time and time again you have been caught - are you plain stupid?

[the diddymen] 22/3/2022 19:58

It does appear that the 3 month extension to AIM rule 19 for reporting is still in place, therefore it is inevitable that TOM will use the covid extension. So for shareholders do not expect any news on financing shortly. Given that there is no balance sheet left to audit, covid can hardly be a concern, but it is a reprieve timewise.

[jaynealex] 22/3/2022 16:55

Well given Tom's track record of throwing in suprises ..do you really think it's going to be a simple ..finance agreed ??

[vauch] 22/3/2022 16:39

Give up Rmart, JP should no better than to give time scales as he never hits them.

[rmart] 22/3/2022 16:35

almost entering week 8 of 2.

[talais] 22/3/2022 15:30

With that and nano sponge , It just shows they are a cutting edge company, lots to come from them

[rmart] 22/3/2022 15:24

sadly its nothing to do with the tomco deal

[ducky fuzz] 22/3/2022 15:12

Current Report Filing (8-k)
15/03/2022 9:11pm
Edgar (US Regulatory)



UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 8-K



CURRENT REPORT



Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934



Date of Report (Date of earliest event reported): March 8, 2022



VIVAKOR, INC.
(Exact name of registrant as specified in its charter)


Nevada 001-41286 26-2178141
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)


433 Lawndale Drive

South Salt Lake City, Utah

84115
(Address of principal executive offices) (Zip Code)


Registrant’s telephone number, including area code: [phone]



(Former name or former address, if changed since last report)

Not Applicable



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:




☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)




☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)




☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))



☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Act:



Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock VIVK The Nasdaq Stock Market LLC


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).



Emerging growth company ☒



If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐














Item 1.01 Entry into a Material Definitive Agreement.


Lease Agreement



On March 9, 2022, Vivakor, Inc. (the “Company”; or “Tenant”), entered into a lease agreement (the “Lease Agreement”), with Tar Sands Holdings II, LLC, a Utah limited liability company (the “Landlord̶1;). The Company will lease from the Landlord the land on which the Company owns a plant, certain existing fixtures, equipment and facilities (the “Premises̶1;) for the Company to develop a 1,000-barrel per day (or equivalent tonnage of asphalt cement) refinery and plant on the Premises (collectively, the “Tenant Improvements”) to process oil sands and other hydrocarbons and to sell finished hydrocarbon products as well as the byproduct from such processing. Pursuant to the Lease Agreement, the Landlord allows the Company to process mined oil sands on the Premises using the Tenant Improvements. Additionally, pursuant to the Lease Agreement, the Landlord is tosupply oil sands to the Company in a quantity determined by the Company, in an amount not to exceed 2,000 tons per day at a saturation quality of not less than ten 10%, as verified by the Company.



The Lease Agreement provides for an initial term of 60 months, commencing on signing and expiring on March 8, 2027 (the “Initial Term”). The Company has the option to extend the Initial Term for the Premises for an additional term of five years. .



The Lease Agreement contains a covenant pursuant to which the Company will pay to the Landlord $3 per ton of oil sands to processed by the Company through the Tenant Improvements.



The Company will pay to the Landlord an advance against future rent in the amount of $30,000, which advance shall be credited against future rent obligations of the Company.



Memorandum of Understanding



On March 9, 2022, the Company entered into a non-binding memorandum of understanding (the “Memorandum221;), with Greenfield Energy, LLC (“Greenfield”) to develop, design, and construct the Company’s enhanced oil sands processing plant on the Premises to produce at least 1,000 barrels of oil per day or equivalent tonnage of asphalt cement. The plant, the intellectual property related to the plant and its operations and any byproduct from the operation of the plant will be owned by the Company. Greenfield will be entitled to receive fifty percent (50%) of the Company’s net revenue for any post-processed sand material from the plant sold through offtake agreements procured by Greenfield.



Pursuant to the Memorandum, the Company and Greenfield will enter into a professional services agreement (the “Professional Services Agreement”), pursuant to which Greenfield may provide certain operating services, including sand treatment and oil upscaling to the Company, to be provided by Valkor, LLC through Greenfield.



The Memorandum is subject to the entry into of definitive agreements for a period of approximately five years..



The foregoing description of the Lease Agreement and Memorandum are not complete and are qualified in their entirety by references to the full text of the Lease Agreement and Memorandum, which are filed as exhibits 10.1 and 10.2, respectively, to this report and are incorporated by reference herein.



Item 8.01 Other Events.


On March 10, 2022, the Company issued a press release announcing the signing of the Lease Agreement and Memorandum. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.







2




Item 9.01. Exhibits.


(d) Exhibits



Exhibit No. Exhibit
10.1#
Lease Agreement, by and between Vivakor, Inc., and Tar Sands Holdings II, LLC, dated March 9, 2022

10.2 Memorandum of Understanding, by and between Vivakor, Inc., and Greenfield Energy, LLC, dated March 8, 2022
99.1 Press Release announcing the signing of the Lease Agreement, dated March 10, 2022
104 Cover Page Interactive Data File (formatted as Inline XBRL)


# Certain schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company will furnish supplemental copies of omitted schedules to the Securities and Exchange Commission or its staff upon its request.

[talais] 22/3/2022 15:09

Should get results of core samples soon,

[zooskeeper] 22/3/2022 14:25

Its been long enough……?!?

[freedom97] 22/3/2022 14:02

It won't be long before TomCo is rocketing too.🚀

[ducky fuzz] 22/3/2022 13:41

Vivakor rocketing this morning. Lots of trades going through. DF

[morningswimmer] 21/3/2022 17:11

Cracking the heavy oils inexpensively would be a game changer. I would be interested to know how many cycles the sponge can go through before it deteriorates. Thanks Talais for clarifying what Vivakor does.

[vauch] 21/3/2022 16:52

Well that was a rubbish day.

[talais] 20/3/2022 15:13

https://vivakor.com/nano-sponge/

[talais] 20/3/2022 15:12

Vivakor Nano sponge.NanoSpongeWe have acquired an exclusive right and license to utilize a highly thermally conductive nano-sponge technology, which essentially serves as a micro-upgrader, transforming the recovered hydrocarbons into a more useful product, such as petroleum or gasoline.This patented technology allows for hydrocarbon material to be absorbed by a specialized sponge where low energy microwaves are introduced into the process and the sponge absorbs this energy causing an instant thermal effect which essentially refines the crude by cutting or cracking the carbon chains. We intend to add this system to our process of upgrading the heavy crude recovered by our RPCs.