Vivakor Inc. (NASDAQ:VIVK) surged 40.98% to $0.072 in after-hours trading on Wednesday after the oil and environmental services firm disclosed regulatory and financial developments.

Check out the current price of VIVK stock here.

The 8-K report, filed with the U.S. Securities and Exchange Commission (SEC), announces material events that investors need to know between quarterly reports.

Nasdaq Listing Deficiency

The Texas-based company recently received notice from Nasdaq’s Listing Qualifications Department that it failed to comply with Listing Rule 5635(d), which requires shareholder approval for transactions issuing 20% or more of outstanding shares below the minimum price.

The determination is based on two October registered direct offerings:

Date

Shares Issued

Warrants Issued

Price per Share

Oct 24

10,909,090

5,000,000

$0.22

Oct ...