Comstock Inc
For the period ended Mar 31, 2024. Filed Apr 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 29, 2024
LODE$1.67-13.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOW FROM OPERATING ACTIVITIES | ||
| Net loss | $(6,918,320) | $(5,681,742) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 643,312 | 620,548 |
| Amortization of finance leases | 11,233 | 10,493 |
| Amortization on discount associated with finance leases | 24,321 | 195,712 |
| Amortization of debt discount and other debt-related items | 522,107 | 252,370 |
| Accretion of reclamation liability | 100,162 | 92,086 |
| Gain on sale of property | — | (178,193) |
| Loss on conversion of debt | 193,523 | 270,456 |
| Employee and director share based compensation | 56,184 | 126,288 |
| Change in fair value of derivative instruments | 756,118 | (698,595) |
| Share of net loss of equity-method investments | 575,904 | 465,165 |
| Interest expense paid with common stock | 116,603 | — |
| Other | 9,557 | (12,240) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (422,845) | (130,029) |
| Deposits - asset | — | 289,485 |
| Other assets | (142,895) | 100,948 |
| Accounts payable | (96,069) | (123,119) |
| Accrued expenses and other liabilities | 502,737 | 450,961 |
| Other | 237,772 | 100,000 |
| Net cash used in operating activities | (3,830,596) | (3,849,406) |
| CASH FLOW FROM INVESTING ACTIVITIES: | ||
| Purchase of mineral rights and property, plant and equipment | (355,939) | (788,059) |
| Payments on contractual commitments associated with derivatives | (1,500,000) | (1,775,000) |
| Investment in Sierra Springs Opportunity Fund, Inc. | (480,000) | — |
| Advance to RenFuel K2B AB | (250,000) | — |
| Advances to Sierra Springs Opportunity Fund, Inc. | — | (550,000) |
| Proceeds from sale of leased facility and related assets | — | 11,000,000 |
| Other | (34,000) | (19,447) |
| Net cash provided by (used in) investing activities | (2,619,939) | 7,867,494 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Principal payments on financing leases | (41,656) | (326,984) |
| Proceeds from the issuance of common stock | 1,463,710 | 2,150,000 |
| Principal payments on debt | (150,000) | — |
| Issuances of debt | 2,000,000 | — |
| Common stock issuance costs | (140,120) | (257,620) |
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net cash provided by financing activities | 3,131,934 | 1,565,396 |
| Net increase (decrease) in cash and cash equivalents | (3,318,601) | 5,583,484 |
| Cash and cash equivalents at beginning of period | 3,785,577 | 2,521,772 |
| Cash and cash equivalents at end of period | $466,976 | $8,105,256 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
|---|---|---|
| Issuance of common shares for debt conversion and accrued interest | $894,773 | $1,662,723 |
| Issuance of common shares with debt | $250,000 | $— |
| Investment acquired with payable | $1,285,961 | $— |
| Issuance of common shares for due diligence and commitment fees | $85,000 | $350,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.