CORALVILLE, Iowa, June 29, 2010 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK) today announced the completion of its phase one SBIR research grant and submission of its final report to the National Eye Institute of the National Institutes of Health. Research from this grant will be used to improve Vivakor's VivaSight technologies and imaging performance of its Digital Photo Refractor device. Performance parameters of specific components to be used in the device were evaluated to maximize efficiencies of the temporal multiplexing capacity of the VivaSight technologies.
Vivakor Chief Executive Officer and Chief Scientific Officer Dr. Tannin Fuja added this statement to the news: "The high quality of research conducted by Vivakor scientists, as funded through this NIH Grant, will accelerate the development of a superior market-ready VivaSight Device." The company believes the market size of its VivaSight division is estimated to be $50 million annually.
About Vivakor, Inc.
Vivakor™ 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. More information can be found about Vivakor at www.vivakor.com.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.