Comstock Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
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.
Jun 30, 2025 · Filed Aug 14, 2025
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
| Six-Months Ended | ||
|---|---|---|
| June 30, | ||
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(16,920,874) | $(15,570,592) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 992,498 | 1,285,746 |
| Amortization of finance leases | 25,621 | 24,043 |
| Amortization on discount associated with finance leases | — | 16,445 |
| Amortization of debt discount and other debt-related items | 485,853 | 910,992 |
| Accretion of reclamation liability | 222,302 | 203,088 |
| Interest expense paid with common stock | 284,526 | 240,066 |
| Research and development expense paid with common stock | 1,487,476 | 1,208,180 |
| Gain on extinguishment of liability | (845,000) | — |
| Loss on conversion of debt | 3,330,831 | 1,472,067 |
| Employee and director share based compensation | — | 99,333 |
| Change in fair value of derivative instruments | (1,677,373) | 833,614 |
| Share of net (income) loss of equity-method investments | (17,438) | 1,225,185 |
| Gain on write-off of SSOF deposits | — | (400,000) |
| Loss on debt extinguishment | — | 521,622 |
| Other | 336,926 | 302,167 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,502,064 | (385,676) |
| Prepaid expenses | 65,099 | 58,321 |
| Deposits | (217,500) | — |
| Other assets | (454,973) | 222,123 |
| Accounts payable | 973,634 | 1,301,050 |
| Accrued expenses, other current liabilities, and deposits | (247,712) | 327,761 |
| Deferred revenue | 983,333 | 23,673 |
| Other long-term liabilities | (88,478) | 249,998 |
| Net cash used in operating activities | (9,779,185) | (5,830,794) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of mineral rights and properties, plant and equipment | (709,572) | (465,938) |
| Acquisition of intangible asset | (300,000) | — |
| Funding of RenFuel note receivable | (800,000) | (1,030,000) |
| Advances to GenMat | — | (235,636) |
| Investment in Hexas SAFE Note | (765,334) | — |
| Investment in SSOF | (650,000) | (530,000) |
| Payments on contractual commitments associated with derivatives | (230,000) | (2,284,364) |
| Payment of reclamation bond deposit | (300,000) | (50,000) |
| Other | (63,788) | (68,000) |
| Net cash used in investing activities | (3,818,694) | (4,663,938) |
COMSTOCK INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
|---|---|---|
| Principal payments on financing leases | (23,650) | (50,131) |
| Principal payments of debt | (100,000) | (200,000) |
| Issuances of debt | 10,000,000 | 2,000,000 |
| Proceeds from the issuance of common stock | 1,500,000 | 5,213,710 |
| Common stock issuance costs | (145,000) | (140,120) |
| Proceeds from the issuance of equity in subsidiary | 20,000,000 | — |
| Net cash provided by financing activities | 31,231,350 | 6,823,459 |
| Net increase (decrease) in cash and cash equivalents | 17,633,471 | (3,671,273) |
| Cash and cash equivalents at beginning of period | 954,271 | 3,785,577 |
| Cash and cash equivalents at end of period | $18,587,742 | $114,304 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
| Acquisition of plant and equipment from Marathon SAFE Note | $12,000,000 | $— |
| Intangible asset acquired with common stock issued for Flux amendment | $5,780,000 | $— |
| Intangible asset acquired with derivative liability for Flux amendment | $5,087,000 | $— |
| Issuance of common stock for Haywood lease amendment | $700,000 | $509,850 |
| Intangible asset acquired with payable | $4,468,617 | $— |
| Issuance of common shares for debt conversion and accrued interest | $10,739,742 | $4,301,634 |
| Issuance of common stock for AST lease amendment | $2,482,200 | $378,845 |
| Recognition of operating lease liability and right of use asset | $3,548,557 | $— |
| Issuance of common stock for LINICO acquisition-related payable | $1,860,000 | $— |
| Intangible asset acquired with issuance of equity in subsidiary | $5,280,000 | $— |
| Fair value of common stock held by AST transferred to accounts receivable | $722,361 | $— |
| Issuance of common stock in lieu of payment of marketing expense | $— | $162,693 |
| Fair value of common stock held by GenMat transferred to GenMat Advances | $— | $694,970 |
| Issuance of common shares for debt issuance costs | $— | $250,000 |
| Investment acquired with payable | $— | $1,285,961 |
| Issuance of common shares for due diligence and commitment fees | $— | $85,000 |
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