Comstock Inc
For the period ended Sep 30, 2024. Filed Oct 22, 2024.
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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.
Sep 30, 2024 · Filed Oct 22, 2024
LODE$1.67-13.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine-Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | $(30,565,175) | $2,554,833 |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,833,878 | 1,979,740 |
| Amortization of finance leases | 36,853 | 32,960 |
| Amortization on discount associated with finance leases | 16,445 | 229,425 |
| Amortization of debt discount and other debt-related items | 1,178,105 | 659,743 |
| Accretion of reclamation liability | 308,276 | 282,119 |
| Interest expense paid with common stock | 384,241 | 152,877 |
| Impairment of intangible assets | 8,667,869 | — |
| Impairment of properties, plant and equipment | 324,047 | — |
| Research and development expense paid with common stock | 1,208,180 | — |
| Gain on write-off of SSOF deposits | (400,000) | — |
| Gain on sale of Facility | — | (7,304,570) |
| Gain on investments | — | (13,309,875) |
| Loss on extinguishment of debt | 744,256 | — |
| Loss (gain) on conversion of debt | 3,690,760 | (51,856) |
| Employee and director share based compensation (recapture) | 142,482 | (67,605) |
| Change in fair value of derivative instruments | (516,756) | 105,964 |
| Loss on Pelen option | — | 150,000 |
| Share of net loss of equity-method investments | 1,675,069 | 1,337,801 |
| Other | (392,318) | (34,357) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | (149,362) | (165,780) |
| Deposits - asset | — | 289,485 |
| Other assets | 310,055 | 428,264 |
| Accounts payable | 1,510,114 | (320,236) |
| Accrued expenses, other liabilities and deposits | (1,902) | 581,456 |
| Deferred revenue | 1,900 | — |
| Other liabilities | 374,998 | 1,285,628 |
| Net cash used in operating activities | (9,617,985) | (11,183,984) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of mineral rights and properties, plant and equipment | (804,949) | (1,515,553) |
| Proceeds from sale of leased facility and related assets | — | 21,000,000 |
| Purchase of Aqua Metals Transfer LLC and Facility | — | (12,000,000) |
| Proceeds from sale of ABTC common shares | — | 5,365,981 |
| Proceeds from sale of Green Li-ion preferred shares | — | 779,600 |
| Payments on contractual commitments associated with derivatives | (2,464,364) | (5,625,000) |
| Advances to Sierra Springs Opportunity Fund, Inc. | — | (1,470,000) |
| Investment in SSOF | (530,000) | — |
| Acquisition of intangible asset | (100,000) | — |
| Funding of RenFuel note receivable | (1,350,000) | — |
| Advances to GenMat | (1,235,636) | — |
| Funding of reclamation bond | (274,711) | — |
| Other | (103,000) | (77,642) |
| Net cash provided by (used in) investing activities | (6,862,660) | 6,457,386 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Principal payments on financing leases | (75,195) | (377,114) |
| Proceeds from the issuance of common stock | 7,213,710 | 6,350,000 |
| Principal payments of debt | (850,000) | — |
| Issuances of debt | 8,000,000 | — |
| Distribution paid to AQMS | — | (70,355) |
| Debt issuance costs | (90,000) | — |
| Common stock issuance costs | (140,120) | (257,620) |
| Net cash provided by financing activities | 14,058,395 | 5,644,911 |
| Net increase (decrease) in cash and cash equivalents | (2,422,250) | 918,313 |
| Cash and cash equivalents at beginning of period | 3,785,577 | 2,521,772 |
| Cash and cash equivalents at end of period | $1,363,327 | $3,440,085 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
| Issuance of common shares for debt conversion and accrued interest | $9,523,870 | $4,499,598 |
| Issuance of common shares for Northern Comstock LLC mineral rights payments | $482,500 | $482,500 |
| Issuance of common shares with debt | $385,875 | $— |
| Investment acquired with payable | $1,285,961 | $— |
| Issuance of common shares for due diligence and commitment fees | $85,000 | $350,000 |
| Issuance of common stock in lieu of payment of marketing expense | $162,693 | $— |
| Issuance of common stock for Haywood lease amendment | $509,850 | $— |
| Issuance of common stock for AST lease amendment | $378,845 | $— |
| Fair value of common stock held by GenMat transferred to GenMat Advances (see Note 2) | $694,970 | $— |
| Right of use asset and liability due to building operating lease | $4,567,814 | $213,925 |
| Transfer of derivative liability to accrued expenses | $3,243,853 | $— |
| Return of common stock in connection with conversion of debt and accrued interest | $— | $(287,049) |
| Investment shares received on sale of Facility | $— | $9,365,000 |
| Return of investment shares in lieu of escrowed funds | $— | $(1,500,000) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.