Comstock Inc. Files 8-K for Material Definitive Agreement

TL;DR

Comstock Inc. signed a big deal on 12/11/24, filing an 8-K with details.

AI Summary

On December 11, 2024, Comstock Inc. entered into a material definitive agreement. The company, incorporated in Nevada with its principal executive offices at 117 American Flat Road, Virginia City, NV, filed an 8-K report detailing this agreement. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates a significant new contract or partnership for Comstock Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that may affect the company's financial health and stock performance.

Key Numbers

• 001-35200 — SEC File Number (Identifies Comstock Inc.'s filings with the SEC.)
• 65-0955118 — IRS Employer Identification Number (Tax identification number for Comstock Inc.)

Key Players & Entities

• Comstock Inc. (company) — Registrant
• Nevada (location) — State of Incorporation
• 117 American Flat Road, Virginia City, Nevada 89440 (location) — Principal Executive Offices
• December 11, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.000666 — ch registered Common Stock , par value $0.000666 per share LODE NYSE AMERICAN Indica
• $3,000,000 — omstock Fuels") was granted an award of $3,000,000 (the "Award"), pursuant to that certain
• $1,000,000 — ard will be funded in three tranches of $1,000,000 each within 45 days of Comstock Fuels m
• $5,000,000 — invests at least five million dollars ($5,000,000) towards machinery, engineering, equipm
• $80,000 — n of 45 jobs, with an average salary of $80,000 per person, $160 million of total inves
• $160 million — n average salary of $80,000 per person, $160 million of total investments, maintenance of he

Filing Documents

• lode20241217_8k.htm (8-K) — 26KB
• ex_758338.htm (EX-10.1) — 44KB
• ex_758339.htm (EX-99.1) — 18KB
• comstock.jpg (GRAPHIC) — 4KB
• 0001437749-24-037730.txt ( ) — 239KB
• lode-20241211.xsd (EX-101.SCH) — 3KB
• lode-20241211_def.xml (EX-101.DEF) — 11KB
• lode-20241211_lab.xml (EX-101.LAB) — 15KB
• lode-20241211_pre.xml (EX-101.PRE) — 11KB
• lode20241217_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 11, 2024, Comstock Fuels Corporation, a subsidiary of Comstock, Inc., ("Comstock Fuels") was granted an award of $3,000,000 (the "Award"), pursuant to that certain Contract between the Oklahoma Department of Commerce and Comstock Fuels Corporation for an Award from the Oklahoma Quick Action Closing Fund (the "Contract"). The Award will be funded in three tranches of $1,000,000 each within 45 days of Comstock Fuels meeting the following conditions: 1.) publicly announcing the relocation of the Comstock Fuels headquarters to Oklahoma; 2.) identifying an Oklahoma site for the construction and operation of a next-generation renewable fuel refinery and signs a lease on that site; and 3.) invests at least five million dollars ($5,000,000) towards machinery, engineering, equipment and/or materials associated with the Oklahoma Facility. The Award is intended to be used for purposes of economic development and related infrastructure development. Comstock Fuels believes it has met the first condition. The Award requires certain ongoing conditions to be met, including without limitation, creation of 45 jobs, with an average salary of $80,000 per person, $160 million of total investments, maintenance of headquarters by March 31, 2026, with at least ten jobs for a period of at least ten consecutive quarters no later than December 31, 2030, and operation of a commercial demonstration biorefinery no later than December 31, 2031, otherwise the granted monies received would have to be repaid. The foregoing summary of the terms of the Contract is not intended to be exhaustive and is qualified in its entirety by the terms of the Contract, a copy of which is attached hereto as Exhibit 10.1, which is incorporated by reference herein. A copy of the press release announcing the transactions contemplated by the Contract is attached as Exhibit 99.1 to the Form 8-K.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. d) Exhibits . 10.1 Contract 99.1 Press Release 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: December 17, 2024 By: /s/ Corrado De Gasperis Corrado De Gasperis Executive Chairman and CEO

View Full Filing

View this 8-K filing on SEC EDGAR