Comstock Inc. Files 8-K for Other Events

TL;DR

Comstock Inc. (LODE) filed an 8-K on 5/20 for events on 5/17. Check for updates.

AI Summary

Comstock Inc. filed an 8-K on May 20, 2024, reporting an event that occurred on May 17, 2024. The filing pertains to "Other Events" and "Financial Statements and Exhibits." The company, formerly known as Comstock Mining Inc., is incorporated in Nevada and headquartered in Virginia City, NV.

Why It Matters

This 8-K filing indicates that Comstock Inc. is disclosing significant events or financial information, which could impact investor understanding of the company's current status.

Risk Assessment

Risk Level: low — The filing is a standard 8-K reporting an event and financial information, without immediate indication of significant financial distress or major corporate changes.

Key Numbers

• 001-35200 — SEC File Number (Identifies the company's filing history with the SEC.)
• 65-0955118 — IRS Employer Identification Number (Company's tax identification number.)

Key Players & Entities

• Comstock Inc. (company) — Registrant
• Comstock Mining Inc. (company) — Former company name
• May 17, 2024 (date) — Earliest event reported
• May 20, 2024 (date) — Filing date
• Nevada (location) — State of incorporation
• Virginia City, NV (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.000666 — ich registered Common Stock, par value $0.000666 per share LODE NYSE American Indic
• $0.40 — 250,000 restricted shares at a price of $0.40 per share, or $500,000 in net proceeds,
• $500,000 — hares at a price of $0.40 per share, or $500,000 in net proceeds, to the Executive Chair
• $1,100,000 — omissory note has a principal amount of $1,100,000, accrues interest at 6% per annum for o

Filing Documents

• lode20240515_8k.htm (8-K) — 23KB
• 0001437749-24-017526.txt ( ) — 151KB
• lode-20240517.xsd (EX-101.SCH) — 3KB
• lode-20240517_def.xml (EX-101.DEF) — 11KB
• lode-20240517_lab.xml (EX-101.LAB) — 15KB
• lode-20240517_pre.xml (EX-101.PRE) — 11KB
• lode20240515_8k_htm.xml (XML) — 3KB

01 Other Event

Item 8.01 Other Event. On May 17, 2024, Comstock Inc. ("Comstock") announced the private placement of 1,250,000 restricted shares at a price of $0.40 per share, or $500,000 in net proceeds, to the Executive Chairman & CEO of Comstock (the "Chairman"). The Chairman purchased such restricted shares with proceeds from an independent, personal promissory note issued by the Chairman to Alvin Fund LLC, who is separately a creditor and shareholder of Comstock. The promissory note has a principal amount of $1,100,000, accrues interest at 6% per annum for one year and 8% per annum thereafter and matures three years from the date of issuance. The obligations under the promissory note are secured by a security interest in Sierra Springs Opportunity Fund, Inc. ("SSOF") shares owned by the Chairman. The Chairman also assigned 500,000 shares of SSOF owned by him, as partial consideration for the extension of credit.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. COMSTOCK INC. Date: May 17, 2024 By: /s/ Corrado De Gasperis Corrado De Gasperis Executive Chairman and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR