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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