Comstock Inc.
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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.
Sep 30, 2026 · Filed Nov 4, 2026
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
| Nine-Months Ended | ||
|---|---|---|
| September 30, | ||
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(35,605,273) | $(29,809,210) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 3,143,812 | 2,178,188 |
| Accretion of interest | 449,966 | — |
| Accretion of reclamation liability | 327,902 | 337,237 |
| Gain on sales of properties, mineral and royalty rights | (15,418,476) | (200,000) |
| Loss on intangible assets impairment | 13,648,042 | 9,333 |
| Loss on property, plant and equipment impairment | 1,736,481 | 433,411 |
| Loss on sale of note receivable | 403,217 | — |
| Loss on investment impairment | 1,031,371 | — |
| Director stock-based compensation | 701,938 | — |
| Employee stock-based compensation | 784,508 | — |
| Loss on investments | 260,000 | — |
| Gain on Tulsa lease cancellation | (473,695) | — |
| Change in fair value of derivative instruments | 2,228,177 | (433,991) |
| Change in fair value of SAFE Note | (1,100,000) | (900,000) |
| Share of net loss of equity-method investments | 126,435 | 6,562 |
| Amortization of debt discount and other debt-related items | — | 542,470 |
| Interest expense paid with common stock | — | 401,523 |
| Research and development expense paid with common stock | — | 1,487,476 |
| Gain on extinguishment of liability | — | (845,000) |
| Loss on conversion of debt | — | 3,088,167 |
| Loss on debt extinguishment | — | 2,767,887 |
| Other | (3,374) | 565,927 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 621,409 | 1,128,496 |
| Prepaid expenses | (338,383) | (133,014) |
| Deposits | 28,268 | (375,000) |
| Other assets | 631,078 | 38,632 |
| Accounts payable | 242,625 | (1,359,356) |
| Accrued expenses and other liabilities | 68,880 | (240,806) |
| Deferred revenue | 2,450,308 | 2,687,111 |
| Flux Photon payable | (1,200,000) | — |
| Other liabilities | (69,090) | 137,204 |
| Net cash used in operating activities | (25,323,874) | (18,486,753) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchase of properties, plant and equipment | (8,109,366) | (1,630,189) |
| Proceeds received from sale of properties, royalty and mineral rights | 21,400,010 | 1,950,000 |
| Escrow deposit paid into Escrow for Great Basin Guaranty | (4,000,000) | — |
| Advances to SSOF | (5,750,000) | (2,500,000) |
| Investment in SSOF | (13,640,000) | (650,000) |
| Proceeds from the sale of note receivable | 500,000 | — |
| Proceeds received from derivative contractual commitments | 1,740,619 | — |
| Payments on derivative contractual commitments | (129,000) | (316,000) |
| Payment of reclamation bond deposit | (480,325) | (450,000) |
| Deposits paid on equipment | — | (5,140,028) |
| Acquisition of intangible asset | — | (300,000) |
| Funding of RenFuel note receivable | — | (1,000,000) |
| Investment in Hexas SAFE Note | — | (960,000) |
| Other investing activities | (72,172) | (100,638) |
| Net cash used in investing activities | (8,540,234) | (11,096,855) |
COMSTOCK INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
|---|---|---|
| Proceeds from common stock issuance | 60,979,181 | 36,000,002 |
| Common stock issuance costs | (4,606,575) | (3,034,663) |
| Principal payments on financing leases | (5,290) | (23,650) |
| Issuances of convertible debt | — | 10,000,000 |
| Principal payments of debt | — | (2,600,000) |
| Proceeds from the issuance of equity in subsidiary | — | 20,000,000 |
| Net cash provided by financing activities | 56,367,316 | 60,341,689 |
| Net increase (decrease) in cash and cash equivalents | 22,503,208 | 30,758,081 |
| Cash and cash equivalents at beginning of period | 16,951,645 | 954,271 |
| Cash and cash equivalents at end of period | $39,454,853 | $31,712,352 |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
| SSOF advances converted to equity investment | $15,150,000 | $— |
| Deposits on equipment applied to property, plant and equipment | 7,571,679 | — |
| Issuance of common stock for Flux Photon liability | 6,055,000 | — |
| Investment shares received on sales of properties, mineral and royalty rights | 4,380,000 | — |
| Recognition of lease liability and right of use asset | 2,148,534 | 11,717,706 |
| Recognition of long-term receivable | 5,843,015 | — |
| Right-of-use asset applied to property, plant and equipment | 824,111 | — |
| Issuance of common stock for director compensation | 1,542,500 | — |
| Recognition of Great Basin guaranty asset and liability | 475,000 | — |
| SSOF accrued interest converted to equity investment | 237,415 | — |
| Issuance of common stock for debt conversion and accrued interest | — | 11,850,097 |
| Issuance of common stock for promissory note settlement | — | 9,193,000 |
| Issuance of common stock for Northern Comstock LLC mineral rights payments | — | 482,500 |
| Issuance of common stock for Haywood lease amendment | — | 700,000 |
| Issuance of common stock for AST lease amendment | — | 2,482,200 |
| Issuance of common stock for LINICO acquisition-related payable | — | 1,860,000 |
| Intangible asset acquired with common stock issued for Flux Photon amendment | — | 5,780,000 |
| Intangible asset acquired with derivative liability for Flux Photon amendment | — | 5,087,000 |
| Intangible asset acquired with issuance of equity in subsidiary | — | 5,280,000 |
| Intangible asset acquired with commitment obligation | — | 4,468,617 |
| Fair value of common stock held by AST transferred to accounts receivable | — | 722,361 |
| Fair value of common stock held by Haywood transferred to accounts receivable | — | 389,174 |
| Acquisition of plant and equipment from Marathon SAFE Note | — | 12,000,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.