Nvidia and TSMC to unveil first domestic wafer for Blackwell chips, Axios reports
Vivakor, Inc. (NASDAQ:VIVK) disclosed on Tuesday that it entered into a Second Forbearance and Amendment to Loan Agreement and Notes with J.J. Astor & Co. on October 8, 2025. The agreement amends previous loan documents and provides for an additional loan of up to $2,450,000.
According to the company’s statement in a press release, the outstanding principal on the initial note was $2,259,319.89, and the outstanding principal on the second note was $5,685,805.13 as of the effective date of the forbearance agreement. The lender issued a notice of default under the second note, accelerating all amounts due, but agreed that Vivakor was not in default under the initial note, second note, or other transaction documents effective September 30, 2025, provided the company complies with the new agreement.
All amounts due under the initial and second notes, including accrued interest, are now due on or before November 30, 2025. Interest will continue to accrue at a default rate of 19%. The conversion terms under both notes remain at the default conversion price. The lender also agreed to a standstill period until November 30, 2025, during which it will not declare an event of default or accelerate payment obligations as long as Vivakor pays interest at the default rate, issues the new note, and pays all past due amounts by the deadline.
On October 9, 2025, Vivakor issued a Third Junior Secured Convertible Promissory Note to the lender in the principal amount of $1,620,000. The company received proceeds of $1,152,000 after deducting $53,000 for legal and origination fees. The principal and interest are to be repaid in forty-two equal installments of $38,572. The company also agreed to issue 286,000 shares of its common stock to the lender for $286 as additional consideration.
The new securities were issued as unregistered sales under Section 4(a)(2) of the Securities Act. The information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.
In other recent news, Vivakor, Inc. has been active on several fronts. The company reported unregistered sales of equity securities, converting $900,000 of principal from a junior secured convertible promissory note into 6,488,276 shares of common stock, following a notice from J.J. Astor & Co. Additionally, Vivakor issued 5,235,602 shares of common stock after converting $700,000 of principal from another promissory note. The company also signed a non-binding term sheet for potential funding of up to $23 million through convertible preferred stock, which would support its crude oil marketing and remediation segments. However, Vivakor received a notice of default from J.J. Astor & Co. regarding a promissory note, with the total amount due now standing at approximately $7.66 million. Furthermore, Vivakor announced a partnership with Neuralix, Inc. to implement AI technology across its midstream energy operations, aiming to market Neuralix’s AI platform to third-party operators. These developments reflect Vivakor’s strategic maneuvers in financing and technological advancement within the energy sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.