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0001120970發行者:人燃料 K 2 巴不可以接受會員2024-09-30 0001120970發行者:人燃料 K 2 巴不可以接受會員2023-12-31 0001120970LODE: 新增資訊會員2024-09-30 0001120970LODE: 新增資訊會員2023-12-31 0001120970位置:丹尼蘭奇薩萊諾特萊卡會員2024-09-30 0001120970位置:丹尼蘭奇薩萊諾特萊卡會員2023-12-31 0001120970發行者:人燃料 K 2 巴不可以接受會員2024-01-02 0001120970發行者:人燃料 K 2 巴不可以接受會員2024-04-19 0001120970發行者:人燃料 K 2 巴不可以接受會員SRT: 最大會員數2024-04-19 0001120970發行者:人燃料 K 2 巴不可以接受會員SRT: 最大會員數2024-06-272024-06-27 0001120970發行者:人燃料 K 2 巴不可以接受會員2024-06-27 0001120970發行者:人燃料 K 2 巴不可以接受會員2024-01-012024-09-30 0001120970發行者:人燃料 K 2 巴不可以接受會員2024-07-012024-09-30 0001120970LODE: 新增資訊會員2024-01-012024-09-30 0001120970美國會計師範圍:國家會員2024-09-30 0001120970美國會計師範圍:國家會員2023-12-31 0001120970美國 GAAP:租賃及租賃保障成員2024-09-30 0001120970美國 GAAP:租賃及租賃保障成員2023-12-31 0001120970美國 GAAP: 探勘與生產設備成員2024-09-30 0001120970美國 GAAP: 探勘與生產設備成員2023-12-31 0001120970美國 GAAP: 物業植物和設備其他類型成員2024-09-30 0001120970美國 GAAP: 物業植物和設備其他類型成員2023-12-31 0001120970地址:康斯托克礦產大月2024-09-30 0001120970地址:康斯托克礦產大月2023-12-31 0001120970LODE: 其他礦物屬性成員2024-09-30 0001120970LODE: 其他礦物屬性成員2023-12-31 0001120970名稱:水權會員2024-09-30 0001120970名稱:水權會員2023-12-31 外線:Y 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區2023-06-30 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區2023-06-302023-06-30 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區2023-12-31 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區SRT: 情境預測成員2027-06-30 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區2024-07-012024-09-30 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區2024-01-012024-09-30 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區2023-07-012023-09-30 0001120970商品名稱:麥凱珍貴金屬成員地點:礦山區2023-01-012023-09-30 0001120970商品名稱:麥凱珍貴金屬成員LODE: 延期租賃服務即時開始費用成員地點:礦山區2024-09-30 0001120970地點:商業地區,里昂縣內華達曼2024-09-30 0001120970LODE:會員權益包括康斯托克北部礦產權利下一個招聘有限責任公司會員2024-09-30 面積:英畝 0001120970LODE: 資深水權會員2023-03-31 0001120970名稱:青少年水權會員2023-03-31 0001120970名稱:水權會員2023-03-012023-03-31 0001120970美國高級協會:停止運作待售成員2024-09-30 0001120970美國高級協會:停止運作待售成員2023-12-31 0001120970美國高級協會:發展科技權益會員2024-09-30 0001120970美國高級協會:發展科技權益會員2023-12-31 0001120970美國 GAAP: 授權合約會員2024-09-30 0001120970美國 GAAP: 授權合約會員2023-12-31 0001120970美國 GAAP: 客戶與實體資產相關成員2024-09-30 0001120970美國 GAAP: 客戶與實體資產相關成員2023-12-31 0001120970美國 GAAP: 分銷權成員2024-09-30 0001120970美國 GAAP: 分銷權成員2023-12-31 0001120970美國 GAAP: 商標會員2024-09-30 0001120970美國 GAAP: 商標會員2023-12-31 0001120970美國高級協會:發展科技權益會員2024-07-012024-09-30 0001120970美國 GAAP: 商標會員美國高級會計師事務所:企業會員2024-07-012024-09-30 0001120970美國 GAAP: 授權合約會員LODE: 策略投資部門成員2024-07-012024-09-30 0001120970LODE: 美國科技企業股份有限公司會員美國 GAAP: 授權合約會員2024-09-30 0001120970LODE: 美國科技企業股份有限公司會員美國 GAAP: 授權合約會員2024-01-012024-09-30 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2021-09-072021-09-07 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2021-09-07 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2023-12-282023-12-28 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2023-12-28 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2024-09-242024-09-24 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2024-09-30 0001120970美國 GAAP: 延期獎金會員2022-07-01 0001120970美國 GAAP: 延期獎金會員2023-04-28 0001120970美國 GAAP: 延期獎金會員2023-07-012023-09-30 0001120970美國 GAAP: 延期獎金會員2023-01-012023-09-30 0001120970美國 GAAP: 延期獎金會員LODE:根據進度成員進行補償計劃2023-01-012023-12-31 0001120970美國 GAAP: 延期獎金會員2024-06-30 0001120970美國 GAAP: 延期獎金會員2024-09-30 0001120970美國 GAAP: 延期獎金會員2024-07-012024-09-30 0001120970美國 GAAP: 延期獎金會員2024-01-012024-09-30 0001120970美國 GAAP: 延期獎金會員SRT: 情境預測成員2025-01-012025-12-31 0001120970SRT: 聯屬實體會員2024-09-30 0001120970地址:設施會議2023-09-30 0001120970地址:設施會議2023-01-012023-09-30 0001120970地址:設施會議2023-08-012023-08-31 0001120970地址:國際空氣動態電子報2023-04-262023-04-26 0001120970地址:設施會議2023-07-012023-09-30 0001120970地址:設施會議2023-04-21 0001120970地址:設施會議2023-06-30 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員2021-04-162021-04-16 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員2021-04-16 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員2024-04-022024-04-02 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員2024-04-02 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員代表:阿斯特萊斯修訂委員2024-04-102024-04-10 00011209702024-04-10 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員代表:阿斯特萊斯修訂委員2024-04-10 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員代表:阿斯特萊斯修訂委員2024-07-012024-09-30 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員代表:阿斯特萊斯修訂委員2024-01-012024-09-30 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員代表:阿斯特萊斯修訂委員2023-07-012023-09-30 0001120970LODE: 資產購買協議成員LODE: 美國科技企業股份有限公司會員代表:阿斯特萊斯修訂委員2023-01-012023-09-30 0001120970地址:海木礦場和工業物業成員2022-11-072022-11-07 0001120970地址:海木礦場和工業物業成員2022-11-07 0001120970地址:海木礦場和工業物業成員2024-04-022024-04-02 0001120970地址:海木礦場和工業物業成員代表:海伍德租賃修訂委員2024-04-112024-04-11 0001120970地址:海木礦場和工業物業成員2024-04-112024-04-11 0001120970LODE: SCP 建築成員2023-08-15 0001120970LODE: SCP 建築成員2024-07-012024-09-30 0001120970LODE: SCP 建築成員2024-01-012024-09-30 0001120970LODE: SCP 建築成員2023-07-012023-09-30 0001120970LODE: SCP 建築成員2023-01-012023-09-30 0001120970地址:SCC 前房屋和建築租賃一個2024-08-01 0001120970地址:SCC 前房屋和建築租賃一個SRT: 情境預測成員2025-08-01 0001120970地址:SCC 前房屋和建築租賃一個SRT: 情境預測成員2026-08-01 0001120970地址:SCC 前房屋和建築租賃一個2024-07-012024-09-30 0001120970地址:SCC 前房屋和建築租賃一個2024-01-012024-09-30 0001120970地址:SCC 前房屋和建築租賃一個2023-07-012023-09-30 0001120970地址:SCC 前房屋和建築租賃一個2023-01-012023-09-30 0001120970美國 GAAP: 土地和建築成員2024-07-012024-09-30 0001120970美國 GAAP: 土地和建築成員2023-07-012023-09-30 0001120970美國 GAAP: 土地和建築成員2024-01-012024-09-30 0001120970美國 GAAP: 土地和建築成員2023-01-012023-09-30 0001120970美國 GAAP: 土地和建築成員2024-09-30 0001120970上載日期:2021 年 11 月份國際機場2024-09-30 0001120970上載日期:2021 年 11 月份國際機場2023-12-31 0001120970上載日期:2021 年 11 月份國際機場2024-01-012024-09-30 0001120970上載日期:2021 年 11 月份國際機場2023-01-012023-12-31 0001120970發佈者:阿爾文基金會 2022 年 10 月2024-09-30 0001120970發佈者:阿爾文基金會 2022 年 10 月2023-12-31 0001120970發佈者:阿爾文基金會 2022 年 10 月2024-01-012024-09-30 0001120970發佈者:阿爾文基金會 2022 年 10 月2023-01-012023-12-31 0001120970發佈者:阿爾文基金會 2023 年 11 月2024-09-30 0001120970發佈者:阿爾文基金會 2023 年 11 月2023-12-31 0001120970發佈者:阿爾文基金會 2023 年 11 月2024-01-012024-09-30 0001120970發佈者:阿爾文基金會 2023 年 11 月2023-01-012023-12-31 0001120970地點:基普斯貝諾特月2024-09-30 0001120970地點:基普斯貝諾特月2023-12-31 0001120970地點:基普斯貝諾特月2024-01-012024-09-30 0001120970地點:基普斯貝諾特月2023-01-012023-12-31 0001120970出發地點:基普斯灣 2022 年 11 月2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月2024-01-012024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月2023-12-31 0001120970LODE: 水族金屬筆記可付費會員2024-09-30 0001120970LODE: 水族金屬筆記可付費會員2023-12-31 0001120970LODE: 水族金屬筆記可付費會員2024-01-012024-09-30 0001120970LODE: 水族金屬筆記可付費會員2023-01-012023-12-31 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2021-12-15 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2021-12-152021-12-15 0001120970名稱:GHFFINC 華蘭特會員2022-08-22 0001120970名稱:GHFFINC 華蘭特會員2022-12-16 0001120970名稱:第二個保證會員2022-12-16 0001120970名稱:第三屆保證會員2022-12-16 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2024-04-15 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2024-04-012024-06-30 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2024-07-012024-09-30 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2023-07-012023-09-30 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2024-01-012024-09-30 0001120970上載日期:2021 年 11 月份國際機場美國 GAAP: 不保證債務成員2023-01-012023-09-30 0001120970名稱:GHFFINC 華蘭特會員2024-04-24 0001120970發佈者:阿爾文基金會 2022 年 10 月2022-10-25 0001120970發佈者:阿爾文基金會 2022 年 10 月2022-10-252022-10-25 0001120970發佈者:阿爾文基金會 2022 年 10 月2023-09-30 0001120970發佈者:阿爾文基金會 2022 年 10 月2024-07-012024-09-30 0001120970發佈者:阿爾文基金會 2022 年 10 月2023-07-012023-09-30 0001120970發佈者:阿爾文基金會 2022 年 10 月2023-01-012023-09-30 0001120970發佈者:阿爾文基金會 2023 年 11 月2023-11-12 0001120970名稱:阿爾文基金保安會員2023-11-12 0001120970發佈者:阿爾文基金會 2023 年 11 月2024-04-22 0001120970發佈者:阿爾文基金會 2023 年 11 月2024-04-012024-06-30 0001120970發佈者:阿爾文基金會 2023 年 11 月2024-07-012024-09-30 0001120970發佈者:阿爾文基金會 2023 年 11 月2023-07-012023-09-30 0001120970發佈者:阿爾文基金會 2023 年 11 月2023-01-012023-09-30 0001120970名稱:阿爾文基金 2023 保證會員2024-04-22 0001120970地址:萊維斯頓可轉換式十一月2024-07-19 0001120970地址:萊維斯頓可轉換式十一月2024-07-192024-07-19 0001120970LODE: 將主要成員轉換為普通股成員地址:萊維斯頓可轉換式十一月2024-08-262024-08-26 0001120970LODE: 將主要庫存成員轉換為限制庫存成員地址:萊維斯頓可轉換式十一月2024-08-262024-08-26 0001120970LODE: 將主要股份轉換為公共股註冊成員地址:萊維斯頓可轉換式十一月2024-08-262024-08-26 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 嵌入式衍生性金融工具成員2024-07-19 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 嵌入式衍生性金融工具成員LODE: 測量輸入轉換價格按倍數成員減少日2024-07-19 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 嵌入式衍生性金融工具成員LODE: 測量輸入轉換價格體積百分比加權平均價格 WAP 成員2024-07-19 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 嵌入式衍生性金融工具成員美國 GAAP: 測量輸入折扣代表2024-07-19 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 嵌入式衍生性金融工具成員美國 GAAP: 測量自由利率成員2024-07-19 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 嵌入式衍生性金融工具成員美國 GAAP: 測量輸入價格變化成員2024-07-19 0001120970地址:萊維斯頓可轉換式十一月2024-07-012024-09-30 0001120970地址:萊維斯頓可轉換式十一月2024-01-012024-09-30 0001120970LODE: 將主要成員轉換為普通股成員地址:萊維斯頓可轉換式十一月2024-07-202024-09-30 0001120970LODE: 將利率轉換為公共股成員地址:萊維斯頓可轉換式十一月2024-09-30 0001120970LODE: 將內容轉換為共同股票成員地址:萊維斯頓可轉換式十一月2024-07-202024-09-30 0001120970LODE: 將債務轉換為共股成員地址:萊維斯頓可轉換式十一月2024-01-012024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月2023-12-27 0001120970發布地點:基普斯灣 2023 年 11 月2023-12-272023-12-27 0001120970發布地點:基普斯灣 2023 年 11 月2024-01-272024-01-27 0001120970發布地點:基普斯灣 2023 年 11 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0001120970洛德:清新卡協議 2024 會員2024-07-18 0001120970地點:基普斯貝諾特月2024-01-162024-01-16 0001120970地點:基普斯貝諾特月2024-01-16 0001120970LODE:2023 年利維斯頓銷售協議會員2023-02-13 0001120970LODE:2023 年利維斯頓銷售協議會員2023-01-312023-12-31 0001120970LODE:2023 年利維斯頓銷售協議會員2023-12-31 0001120970LODE:2023 年利維斯頓銷售協議會員2023-02-142023-12-31 0001120970LODE:2023 年利維斯頓銷售協議會員2024-09-30 0001120970LODE:2023 年利維斯頓銷售協議會員2024-01-012024-09-30 0001120970LODE: 與您一同成員簽訂購協議2022-06-21 0001120970LODE: 與您一同成員簽訂購協議2022-06-212022-06-21 0001120970LODE: 與您一同成員簽訂購協議2023-01-012023-12-31 0001120970LODE: 與您一同成員簽訂購協議2023-12-31 0001120970LODE: 與您一同成員簽訂購協議2024-01-012024-09-30 0001120970LODE: 與您一同成員簽訂購協議2024-09-30 0001120970LODE:二零二二二年基金附註及二零二三年基金註釋轉換為共股成員2024-01-012024-09-30 0001120970LODE:二零二二年基金註釋轉換為公共股成員2023-01-012023-12-31 0001120970LODE: 北科斯托克運營協議會員2024-09-032024-09-03 0001120970投資者名稱:單一投資者會員2024-08-162024-08-16 0001120970LODE:2024 年利維斯頓銷售協議會員2024-08-062024-08-06 0001120970LODE:2024 年利維斯頓銷售協議會員2024-08-06 0001120970SRT: 首席執行官員2024-05-222024-05-22 0001120970投資者名稱:單一投資者會員2024-04-192024-04-19 0001120970名稱:服務公司會員2024-04-192024-04-19 0001120970代表:海伍德租賃修訂委員2024-04-112024-04-11 0001120970代表:阿斯特萊斯修訂委員2024-04-102024-04-10 0001120970洛德:清新卡協議 2024 會員2024-03-272024-03-27 0001120970地點:基普斯貝諾特月2024-01-112024-01-11 0001120970地點:基普斯貝諾特月2024-01-11 0001120970LODE: 北科斯托克運營協議會員2023-08-252023-08-25 0001120970LODE:2023 年利維斯頓銷售協議會員2023-02-142023-02-14 0001120970LODE: 線性組織成員2021-12-30 0001120970名稱:水族金屬資訊會員LODE: 線性組織成員2021-12-30 0001120970名稱:水族金屬資訊會員LODE: 線性組織成員2023-12-192023-12-19 0001120970名稱:水族金屬資訊會員LODE: 線性組織成員2023-01-012023-12-31 0001120970LODE: 線性組織成員2024-09-30 0001120970LODE: 線性組織成員2023-12-31 0001120970地點:德爾維拉馬格納梅2023-03-01 0001120970商品名稱:康斯托克金屬會員2024-03-01 0001120970商品名稱:康斯托克金屬會員2024-09-30 0001120970商品名稱:康斯托克金屬會員2023-12-31 0001120970地點:德爾維拉馬格納梅2023-01-012023-12-31 0001120970地點:德爾維拉馬格納梅2024-07-012024-09-30 0001120970地點:德爾維拉馬格納梅2024-01-012024-09-30 0001120970地點:德爾維拉馬格納梅2024-09-30 0001120970商品名稱:保證 1 會員2024-09-30 0001120970商品名稱:保證 2 會員2024-09-30 0001120970商品名稱:保證 3 會員2024-09-30 0001120970商品名稱:保證 4 會員2024-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970名稱:股票持有基金前進會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970名稱:股票持有基金前進會員美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970名稱:股票持有基金前進會員美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970名稱:股票持有基金前進會員美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970美國 GAAP: 公平價值投資 1 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970美國 GAAP: 公平價值投注 2 會員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970美國 GAAP: 公平價值投注 3 成員美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970LODE: 離子可轉換債券衍生項目美國 GAAP: 公平價值投注 3 成員2023-07-012023-09-30 0001120970LODE: 離子可轉換債券衍生項目美國 GAAP: 公平價值投注 3 成員2023-01-012023-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投注 3 成員2024-07-012024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投注 3 成員2024-01-012024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值投注 3 成員2024-01-272024-01-27 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 公平價值投注 3 成員2024-07-012024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 公平價值投注 3 成員2024-01-012024-09-30 0001120970地址:萊維斯頓可轉換式十一月2024-07-19 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值投注 3 成員2024-07-012024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值投注 3 成員2024-01-012024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月2024-01-19 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值評估重複成員2024-06-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值評估重複成員2024-07-012024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 公平價值評估重複成員2024-06-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 公平價值評估重複成員2024-07-012024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值評估重複成員2024-06-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值評估重複成員2024-07-012024-09-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2024-06-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2024-07-012024-09-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2024-06-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2024-07-012024-09-30 0001120970美國 GAAP: 公平價值評估重複成員2024-06-30 0001120970美國 GAAP: 公平價值評估重複成員2024-07-012024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 公平價值評估重複成員2024-01-012024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 公平價值評估重複成員2024-01-012024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值評估重複成員2023-12-31 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 公平價值評估重複成員2024-01-012024-09-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2024-01-012024-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2024-01-012024-09-30 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2024-01-012024-09-30 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2024-09-30 0001120970美國 GAAP: 公平價值評估重複成員2024-01-012024-09-30 0001120970LODE: 離子可轉換債券衍生項目美國 GAAP: 公平價值評估重複成員2023-06-30 0001120970LODE: 離子可轉換債券衍生項目美國 GAAP: 公平價值評估重複成員2023-07-012023-09-30 0001120970LODE: 離子可轉換債券衍生項目美國 GAAP: 公平價值評估重複成員2023-09-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2023-06-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2023-07-012023-09-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2023-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2023-06-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2023-07-012023-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2023-09-30 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2023-06-30 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2023-07-012023-09-30 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2023-09-30 0001120970美國 GAAP: 公平價值評估重複成員2023-06-30 0001120970美國 GAAP: 公平價值評估重複成員2023-07-012023-09-30 0001120970美國 GAAP: 公平價值評估重複成員2023-09-30 0001120970LODE: 離子可轉換債券衍生項目美國 GAAP: 公平價值評估重複成員2022-12-31 0001120970LODE: 離子可轉換債券衍生項目美國 GAAP: 公平價值評估重複成員2023-01-012023-09-30 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2022-12-31 0001120970LODE: 線性衍生工具成員美國 GAAP: 公平價值評估重複成員2023-01-012023-09-30 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2022-12-31 0001120970LODE: 海伍德衍生工具成員美國 GAAP: 公平價值評估重複成員2023-01-012023-09-30 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2022-12-31 0001120970LODE: 生產衍生工具成員美國 GAAP: 公平價值評估重複成員2023-01-012023-09-30 0001120970美國 GAAP: 公平價值評估重複成員2022-12-31 0001120970美國 GAAP: 公平價值評估重複成員2023-01-012023-09-30 0001120970發布地點:基普斯灣 2023 年 11 月2023-12-27 0001120970發布地點:基普斯灣 2023 年 11 月2024-01-272024-01-27 0001120970發布地點:基普斯灣 2023 年 11 月LODE: 測量輸入轉換百分比元2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量輸入量值2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量輸入折扣代表2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量自由利率成員2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量輸入價格變化成員2023-12-31 0001120970發布地點:基普斯灣 2023 年 11 月LODE: 測量輸入轉換百分比元2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量輸入量值2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量輸入折扣代表2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量自由利率成員SRT: 最低成員2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量自由利率成員SRT: 最大會員數2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量輸入價格變化成員SRT: 最低成員2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 測量輸入價格變化成員SRT: 最大會員數2024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月2024-07-012024-09-30 0001120970發布地點:基普斯灣 2023 年 11 月2024-01-012024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月2024-09-19 0001120970出發地點:基普斯灣 2022 年 11 月LODE: 測量輸入轉換百分比元2024-09-19 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 測量輸入折扣代表2024-09-19 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 測量自由利率成員2024-09-19 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 測量輸入價格變化成員2024-09-19 0001120970出發地點:基普斯灣 2022 年 11 月LODE: 測量輸入轉換百分比元2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 測量輸入折扣代表2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 測量自由利率成員2024-09-30 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 測量輸入價格變化成員2024-09-30 0001120970地址:萊維斯頓可轉換式十一月LODE: 測量輸入轉換百分比元LODE: 場景 1 成員2024-09-30 0001120970地址:萊維斯頓可轉換式十一月LODE: 測量輸入轉換百分比元LODE: 場景 2 成員2024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 測量輸入折扣代表2024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 測量自由利率成員SRT: 最低成員2024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 測量自由利率成員SRT: 最大會員數2024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 測量輸入價格變化成員SRT: 最大會員數2024-09-30 0001120970地址:萊維斯頓可轉換式十一月美國 GAAP: 測量輸入價格變化成員SRT: 最低成員2024-09-30 0001120970LODE: 生產衍生工具成員2021-06-24 0001120970LODE: 生產衍生工具成員2021-06-242021-06-24 00011209702021-06-24 0001120970LODE: 生產衍生工具成員名稱:新馬特會員2023-12-31 0001120970LODE: 生產衍生工具成員2023-12-31 0001120970LODE: 生產衍生工具成員2024-05-17 0001120970LODE: 海伍德衍生工具成員2022-04-07 0001120970LODE: 海伍德衍生工具成員2022-04-082024-06-30 0001120970LODE: 海伍德衍生工具成員2024-06-30 0001120970LODE: 海伍德衍生工具成員2024-01-012024-09-30 0001120970LODE: 海伍德衍生工具成員2023-01-012023-12-31 0001120970LODE: 海伍德衍生工具成員2024-04-112024-04-11 00011209702024-04-11 0001120970LODE: 海伍德衍生工具成員2024-09-30 0001120970LODE: 前線學部執行主任成員2021-12-302021-12-30 0001120970LODE: 前線學部執行主任成員2021-12-30 0001120970LODE: 前線學部執行主任成員2024-01-012024-09-30 0001120970LODE: 前線學部執行主任成員2021-12-302024-09-30 0001120970LODE: 前線學部執行主任成員2024-09-30 0001120970LODE: 離子可轉換債券衍生項目2023-07-012023-09-30 0001120970LODE: 離子可轉換債券衍生項目2023-01-012023-09-30 0001120970名稱:美國電池技術公司 ABTC 成員2024-09-30 00011209702023-04-06 0001120970美國 GAAP: 測量輸入分享價格成員2023-04-06 0001120970美國 GAAP: 測量輸入價格變化成員2023-04-06 0001120970美國 GAAP: 測量自由利率成員2023-04-06 00011209702023-04-21 0001120970美國 GAAP: 測量輸入分享價格成員2023-04-21 0001120970美國 GAAP: 測量輸入價格變化成員2023-04-21 0001120970美國 GAAP: 測量自由利率成員2023-04-21 00011209702023-05-12 0001120970美國 GAAP: 測量輸入分享價格成員2023-05-12 0001120970美國 GAAP: 測量輸入價格變化成員2023-05-12 0001120970美國 GAAP: 測量自由利率成員2023-05-12 0001120970美國 GAAP: 表現股票成員2023-07-012023-09-30 0001120970美國 GAAP: 表現股票成員2023-01-012023-09-30 0001120970LODE: 市場條件獎勵會員2023-07-012023-09-30 0001120970LODE: 市場條件獎勵會員2023-01-012023-09-30 0001120970代號:保證會員2023-07-012023-09-30 0001120970代號:保證會員2023-01-012023-09-30 0001120970LODE: 可轉換債務股份成員2023-01-012023-09-30 00011209702024-01-052024-01-05 00011209702022-01-012022-12-31 0001120970位置:燃料區段成員2024-07-012024-09-30 0001120970區域:金屬區段成員2024-07-012024-09-30 0001120970LODE: 採礦區段成員2024-07-012024-09-30 0001120970LODE: 策略投資部門成員2024-07-012024-09-30 0001120970美國高級協會:企業及其他成員2024-07-012024-09-30 0001120970位置:燃料區段成員2024-09-30 0001120970區域:金屬區段成員2024-09-30 0001120970LODE: 採礦區段成員2024-09-30 0001120970LODE: 策略投資部門成員2024-09-30 0001120970美國高級協會:企業及其他成員2024-09-30 0001120970位置:燃料區段成員2023-07-012023-09-30 0001120970區域:金屬區段成員2023-07-012023-09-30 0001120970LODE: 採礦區段成員2023-07-012023-09-30 0001120970LODE: 策略投資部門成員2023-07-012023-09-30 0001120970美國高級協會:企業及其他成員2023-07-012023-09-30 0001120970位置:燃料區段成員2023-09-30 0001120970區域:金屬區段成員2023-09-30 0001120970LODE: 採礦區段成員2023-09-30 0001120970LODE: 策略投資部門成員2023-09-30 0001120970美國高級協會:企業及其他成員2023-09-30 0001120970位置:燃料區段成員2024-01-012024-09-30 0001120970區域:金屬區段成員2024-01-012024-09-30 0001120970LODE: 採礦區段成員2024-01-012024-09-30 0001120970LODE: 策略投資部門成員2024-01-012024-09-30 0001120970美國高級協會:企業及其他成員2024-01-012024-09-30 0001120970位置:燃料區段成員2023-01-012023-09-30 0001120970區域:金屬區段成員2023-01-012023-09-30 0001120970LODE: 採礦區段成員2023-01-012023-09-30 0001120970LODE: 策略投資部門成員2023-01-012023-09-30 0001120970美國高級協會:企業及其他成員2023-01-012023-09-30 0001120970LODE:將優勢轉換為共同股份成員2023-12-292023-12-29 0001120970LODE: 進階人士招募機會基金會員基金2024-09-30 0001120970LODE:首席執行官員和兩名董事成員LODE: 進階人士招募機會基金會員基金2023-12-29 0001120970發行者:三月名稱:世界各項投資機會基金會員2024-09-30 0001120970名稱:世界各項投資機會基金會員2024-09-30 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2021-12-102021-12-10 0001120970LODE: 資產購買協議成員名稱:富光電股份有限公司 FPC 會員2021-12-10 0001120970LODE: FPC 資產購買協議成員2021-09-072021-09-07 0001120970LODE: FPC 資產購買協議成員2023-12-282023-12-28 0001120970LODE:首席執行官和兩名董事成員名稱:世界各項投資機會基金會員2023-12-28 0001120970LODE: FPC 資產購買協議成員2024-09-202024-09-20 0001120970名稱:水族金屬資訊會員2023-04-262023-04-26 0001120970地點:德爾維拉馬格納梅2023-12-152023-12-15 0001120970地點:德爾維拉馬格納梅2023-12-15 0001120970SRT: 首席執行官員2024-05-172024-05-17 0001120970SRT: 首席執行官員2024-05-17 0001120970SRT: 最低成員SRT: 首席執行官員2024-05-17 0001120970SRT: 最大會員數SRT: 首席執行官員2024-05-17 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 後續事件成員2024-10-012024-10-01 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 後續事件成員2024-10-01 0001120970發布地點:基普斯灣 2023 年 11 月SRT: 加重平均成員美國 GAAP: 後續事件成員2024-10-01 0001120970發布地點:基普斯灣 2023 年 11 月美國 GAAP: 後續事件成員2024-10-01 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 後續事件成員2024-10-012024-10-31 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 後續事件成員2024-10-31 0001120970出發地點:基普斯灣 2022 年 11 月SRT: 加重平均成員美國 GAAP: 後續事件成員2024-10-31 0001120970所屬機構:源氏發展有限責任公司成員美國 GAAP: 後續事件成員2024-10-01 0001120970名稱:新馬特會員美國 GAAP: 後續事件成員2024-10-01 0001120970名稱:新馬特會員美國 GAAP: 後續事件成員LODE: 創始人2024-10-012024-10-01 0001120970名稱:新馬特會員美國 GAAP: 後續事件成員LODE: 創始人2024-10-01 0001120970名稱:新馬特會員LODE:完成必要交易成員2024-10-01 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 後續事件成員2024-10-072024-10-07 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 後續事件成員2024-10-07 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 後續事件成員2024-10-092024-10-09 0001120970出發地點:基普斯灣 2022 年 11 月美國 GAAP: 後續事件成員2024-10-09 0001120970美國 GAAP:開採屬性和礦產權成員2024-01-012024-09-30
 

 

目錄

美國

證券交易委員會

華盛頓特區20549

 


 

表格 10-Q

 


根據第13或15(D)條的季度報告

1934年證券交易所法

截至該季度結束 2024年9月30日

 

  根據第13或15(D)條的過渡報告

1934年證券交易所法

至________年過渡期間至________年

 

C書面檔案編號: 001-35200

 

 
logo01.jpg
 

 

comstock inc

(依憑章程所載的完整登記名稱)

內華達州

 

65-0955118

(依據所在地或其他管轄區)

的註冊地或組織地點)

 

(國稅局雇主識別號碼)

統一編號

   

117美國Flat Road, 維珍尼亞城, NV

 

89440

(總部辦公地址)

 

(郵政編碼)

 

(775) 847-5272

 
 

(申報人的電話號碼)

 
   
 

根據法案第12(b)條規定註冊的證券:

 
   

每種類別的名稱

交易符號

每個註冊交易所的名稱

普通股,每股面值$0.000666。

LODE

紐交所美國板塊

 

根據法案第12(g)條規定登記的有價證券:無。

    
     
請用勾選標記表示,申報人(1)在過去12個月內已按照1934年證券交易所法的第13或15(d)條規定提交了所有要提交的報告(或申報人要求提交此類報告的時間較短的時間段內),且(2)在過去90天內一直需要遵守此類報告要求。沒有
     
請在方框內打勾表示,在過去12個月(或註冊人需要提交此類文件的較短時間段內),是否根據S-T法規第405條規定要求提交所有電子互動數據文件。沒有
     

請使用方框標記出是否該登記人屬於大型加速遞交者、加速遞交者、非加速遞交者或較小的報告公司。請參見《交易法》第1202條中對大型加速遞交者、加速遞交者和較小的報告公司的定義。

    

 

大型加速歸檔人

 

加速披露人

 

新興成長型企業

        

非加速歸檔人

 

小型報告公司

   

 

如果該企業為新興成長型企業,請在是否選擇不使用證交法第13(a)條所提供之符合任何新的或修訂財務會計標準的延長過渡期的方格中打勾。沒有
     
勾選表示申報人是否為外殼公司(定義於交易所法規第1202條)。沒有
     

2024年10月18日,每股面值為$0.000666的普通股的流通股數為 209,251,865.

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

本頁故意留白。

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

 

 
 

comstock inc

10-Q表格

季度期間已結束 2024年和2023年的結束日期是9月30日

 

 

目錄

 

 

第一部分 財務信息

   

項目1.基本報表。

 

簡明合併資產負債表

5

簡明合併利潤表

7

壓縮的股東權益變動表

8

現金流量表簡明綜合報表

9

簡明合併財務報表附註

10

第二條 管理財務狀況和運營結果的討論和分析。

32

項目3.有關市場風險的定量和定性披露.

42

事項4. 控制和程序。

42

   

第二部分其他信息

   

第1項。法律訴訟。

43

第1A項。風險因素。

43

第2項。未註冊的股權銷售和資金使用。

43

第3項。優先證券違約事項。

44

第4項。礦業安全披露。

44

第5項。其他信息。

44

第6項。展品。

44

簽名

45

 

3

 

 

關於前瞻性聲明的注意事項

 

本季度報告中包含的某些聲明屬於前瞻性聲明,根據1933年修訂及補充的證券法第27A條和1934年修訂及補充的證券交易法第21E條的規定。除歷史事實陳述外,所有聲明均屬前瞻性聲明。 相信 期望 預計 估計, 或類似表述的目的是確定 計劃 應該 打算 可能, 將會, 將會 潛在的 等類似表述可用於識別前瞻性聲明,但並非專屬方式。前瞻性聲明包括關於以下事項的聲明:未來市場條件;未來勘探或收購;未來研究、開發和勘探活動的變化;未來財務、自然和社會收益;產品和服務的未來價格、銷售和需求;土地權利和用途;許可證;生產能力和運營;營業費用和開支;未來資本支出及其對我們的影響;運營和管理變化(包括董事會的變化);業務策略、規劃和戰術的變化;未來就業和員工貢獻,包括顧問;未來土地和資產銷售;投資、收購、合資企業、戰略聯盟、業務組合、運營、稅收、財務和重組舉措,包括重組費用的性質、時間安排和會計處理,衍生資產和負債以及其影響;應急情況;訴訟、行政或仲裁程序;環保合規和監管環境變化;發行、股權或債務證券的銷售或發行限制,包括資產銷售及相關費用;商機、增長率、未來營運資本需求、收入、變量成本、吞吐量、營業費用、債務水平、現金流、利潤率、稅收和收益。

 

這些聲明是基於我們管理層根據其經驗和他們對歷史和當前趨勢、現狀、可能的未來發展和其他他們認爲合適的因素所做的假設和評估。前瞻性聲明不構成保證、陳述或保證,受到風險和不確定性的影響,其中許多是不可預見的,超出我們的控制範圍,可能導致實際結果、發展和業務決策與這些前瞻性聲明所考慮的有重大差異。 其中一些風險和不確定性包括本報告中列明的風險因素以及我們截至2023年12月31日財年結束的年度報告第10-k表格中所述的以下內容:氣候變化或自然災害的不利影響;全球或區域性傳染病傳播或其他危機的不利影響;全球經濟和資本市場的不確定性;發展可再生能源、脫碳和/或清潔能源技術、與危險材料和金屬回收、加工或開採活動相關的危險和不確定性;黃金或礦產勘探的投機性質,以及鋁、鎘、銅、硅、白銀、鋼鐵和其他金屬和材料回收,包括資源數量或品位減少的風險;與勘探、金屬回收、材料加工或開採活動相關的運營或技術困難;與貴金屬和其他金屬相關的活動的成本、危險和不確定性,包括環保和經濟增長的、創新的乾淨採礦和加工技術、貴金屬勘探、資源開發、經濟可行性評估、環境復墾和歷史修復以及現金生產;對我們財產所有權的爭奪;因股票發行、資本重組和資產負債表重組活動而給我們股東造成的潛在稀釋;可能無法遵守適用的政府法規或法律;採用或法規的變化對我們業務產生不利影響;許可限制或延遲;對商機的挑戰或可能無法獲得商機的益處,包括我們可能面臨或追求的研發階段活動,包括涉及量子計算和基於材料科學的人工智能支持的先進材料開發和開發服務,生物燃料和相關材料生產中的纖維素技術開發;生物燃料中纖維素技術的商業化;成功識別、融資、完成和整合收購、合資企業、戰略聯盟、合作研發協議、企業合併、資產和股權投資出售,以及我們將來可能參與的投資;美國或其他貨幣或財政政策或法規的變化;由於資本限制而導致生產能力中斷;設備故障;黃金或其他某些大宗商品(如鋁、鎘 金、銅、硅、白銀、鋼鐵等)價格波動問題( 銅、硅、白銀、鋼鐵和其他金屬和材料青黴素、水、柴油、汽油和替代燃料以及電力); 一般公認會計原則的變化; 戰爭、大規模槍擊案、恐怖主義和地緣政治事件的不利影響; 潛在無法實施我們的業務策略; 潛在收入增長受阻; 潛在無法吸引和留住關鍵人員; 因供應商實施的信貸或其他限制而導致關鍵物資、設備和原材料交付中斷; 對我們提出索賠、訴訟和訴訟程序的主張; 潛在無法償還債務和租賃債務的可能性; 潛在無法維持有效的財務報告內部控制體系; 潛在不能或未能及時向證券交易委員會提交週期性報告; 潛在無法在任何證券交易所或市場上掛牌或維持我們的證券掛牌; 以及停工或其他勞資糾紛。 發生這類事件或情況可能對我們的業務、財務狀況、經營業績或現金流,或我們證券的市場價格產生重大不利影響。我們或由我們或代表我們行事的人作出的所有後續書面和口頭前瞻性聲明在其整體上均受這些因素的明確限制。除非證券法或其他法律的要求,我們不承擔公開更新或修訂任何前瞻性聲明的義務,無論是出於新信息、未來事件或其他原因。

 

 

4

 

 

第一部分:財務信息

項目1.基本報表

 

comstock inc及其子公司

簡明合併資產負債表

(未經審計)

 

  

2024年9月30日

  

2023年12月31日

 

資產

        
         

流動資產:

        

現金及現金等價物

 $1,363,327  $3,785,577 

投資

  18,912,985   18,912,985 

衍生工具資產

  428,850    

待售資產-土地、礦業權和房產

  8,380,231    

資產預付款和其他流動資產的變動

  799,760   484,577 

總流動資產

  29,885,153   23,183,139 
         

非流動資產:

        

投資

  31,406,475   31,260,928 

礦產權和固定資產

  11,250,121   13,302,013 

固定資產淨值

  8,620,646   15,204,030 

存款

  411,268   411,268 

7,637

  3,228,229   2,850,518 

應收票據及預付款項,淨額

  4,754,789   980,291 

無形資產, 淨額

  5,886,548   15,866,032 

融資租賃權益資產,淨額

  3,100,972   2,923,766 

運營租賃權益資產,淨額

  4,729,427   237,617 

其他

  419,188   246,742 

總非流動資產

  73,807,663   83,283,205 
         

資產總計

 $103,692,816  $106,466,344 

 

簡明綜合財務報表的附註是這些報表的組成部分.

 

5

 

comstock inc及其附屬公司

壓縮的合併資產負債表(續)

(未經審計)

 

  

2024年9月30日

  

2023年12月31日

 

負債和股東權益

        
         

流動負債:

        

應付賬款

 $2,524,119  $1,333,980 

應計費用及其他負債

  6,053,784   2,283,986 

存款

     410,100 

遞延收入

  1,236,645   78,495 

衍生工具負債

  1,250,000   5,400,128 

融資租賃 - 使用權租賃負債

  515,140   838,676 

債務,淨額 - 當前部分

  626,044   4,495,660 

流動負債合計

  12,205,732   14,841,025 
         

長期負債:

        

復墾責任

  5,925,903   5,606,681 

經營租賃 - 使用權租賃負債,開多期部分

  4,779,042   205,154 

遞延收入

     1,156,250 

負債-長期部分

  10,604,251   5,355,062 

其他負債

  2,105,535   1,025,000 

長期負債總額

  23,414,731   13,348,147 
         

負債合計

  35,620,463   28,189,172 
         

承諾和 contingencies(注9和14)

          
         

股東權益

        

優先股 $0.000666每股面值,50,000,000 股已流通

      

普通股,每股面值爲 $0.0001;0.000666每股面值,245,000,000 206,634,788和頁面。117,862,081 2024年9月30日和2023年12月31日分別發行並流通的股份數

  137,649   78,405 

庫藏股 0和頁面。2,605,322 2024年9月30日和2023年12月31日,分別以成本計量的股票

     (3,360,867)

額外實收資本

  380,656,890   363,889,245 

累積赤字

  (312,832,590)  (282,329,611)

comstock inc的總權益

  67,961,949   78,277,172 

非控制權益

  110,404    

股東權益合計

  68,072,353   78,277,172 

負債合計與股東權益

 $103,692,816  $106,466,344 

 

簡明綜合財務報表的附註是這些報表的組成部分.

 

6

 

 

comstock inc及其子公司

簡明合併利潤表

(未經審計)

 

   

三個月結束

   

九個月結束

 
   

2020年9月30日

   

2020年9月30日

 
   

2024

   

2023

   

2024

   

2023

 
                                 

營業收入

  $ 556,383     $ 760,721     $ 1,417,158     $ 826,796  
                                 

營業費用:

                               

銷售,總務及管理費用

    3,176,373       3,140,080       9,496,719       10,025,904  

研發

    1,440,367       1,394,860       4,880,847       4,426,543  

折舊和攤銷

    562,456       676,779       1,875,151       2,012,701  

無形資產減值損失

    8,667,869             8,667,869        

固定資產減值

    324,047             324,047        

設施銷售收益

          (7,126,377 )           (7,304,570 )

營業費用總計

    14,171,112       (1,914,658 )     25,244,633       9,160,578  
                                 

營業收支(虧損)

    (13,614,729 )     2,675,379       (23,827,475 )     (8,333,782 )
                                 

其他收益(費用)

                               

投資收益

          14,074,875             13,309,875  

利息支出

    (696,996 )     (320,815 )     (2,298,098 )     (1,312,154 )

利息收入

    81,015       73,067       220,587       179,942  

衍生工具公允價值變動

    1,350,370       (2,369,176 )     516,756       (105,964 )

債務轉換的收益(損失)

    (2,218,694 )     289,512       (3,690,760 )     51,856  

債務清償損失

    (222,634 )           (744,256 )      

其他費用收益

    327,085       (681,678 )     (741,929 )     (1,234,940 )

總其他收入(費用),淨額

    (1,379,854 )     11,065,785       (6,737,700 )     10,888,615  
                                 

    (14,994,583 )     13,741,164       (30,565,175 )     2,554,833  
                                 

歸屬於非控制權益的淨利潤(虧損)

    (26,568 )     1,376,189       (62,196 )     1,327,283  
                                 

淨利潤(損失)歸屬於comstock inc。

  $ (14,968,015 )   $ 12,364,975     $ (30,502,979 )   $ 1,227,550  
                                 

基本每股收益:

                               

每股淨收入(虧損)——基礎

  $ (0.08 )   $ 0.11     $ (0.20 )   $ 0.01  
                                 

攤薄每股收益:

                               

每股淨利潤攤薄

  $ (0.08 )   $ 0.11     $ (0.20 )   $ 0.01  
                                 

基礎加權平均普通股數

    187,868,997       109,093,289       149,430,981       101,853,484  

攤薄加權平均普通股數

    187,868,997       110,356,870       149,430,981       101,996,145  
                                 

 

簡明綜合財務報表的附註是這些報表的組成部分.

 

7

 

 

Comstock Inc. 及其子公司

簡化合並股東權益變動表

(未經審計)

 

          

額外

      

財政部

  

非-

     
  

普通股

  

已支付

  

累計

  

股票

  

控制

     
  

股份

  

金額

  

資本

  

赤字

  

金額

  

利息

  

總計

 

餘額 - 2023年1月1日

  91,442,018  $60,660  $348,390,556  $(291,491,432) $(3,360,867) $2,764,542  $56,363,459 
                             

普通股發行

  6,090,276   4,056   2,145,944            2,150,000 

普通股發行成本

        (607,620)           (607,620)

以普通股發行成本發行普通股

  963,445   642   349,358            350,000 

以普通股發行用於償還債務及應計利息

  4,539,413   3,023   1,659,700            1,662,723 

員工和董事基於股份的補償

     120   126,168            126,288 

AQMS未分配的LINICO分紅派息

                 (44,703)  (44,703)

淨損失

           (5,668,937)     (12,805)  (5,681,742)

結餘 - 2023年3月31日

  103,035,152   68,501   352,064,106   (297,160,369)  (3,360,867)  2,707,034   54,318,405 
                             

普通股發行

  619,352   412   499,588            500,000 

發行普通股用於轉換債務和應計利息,淨回股

  1,951,248   1,300   1,667,632            1,668,932 

發行普通股以替代利息支付

  270,757   180   107,327            107,507 

員工和董事基於股份的補償

        46,328            46,328 

AQMS未分配的LINICO分紅派息

                 (46,092)  (46,092)

淨損失

           (5,468,488)     (36,101)  (5,504,589)

餘額 - 2023年6月30日

  105,876,509   70,393   354,384,981   (302,628,857)  (3,360,867)  2,624,841   51,090,491 
                             

普通股發行

  7,397,575   4,927   3,695,073            3,700,000 

向Northern Comstock LLC支付礦權款

  963,074   641   481,859            482,500 

發行普通股以轉換債務和應計利息

  2,818,714   1,877   1,166,066            1,167,943 

發行普通股以替代支付利息

  74,353   50   45,320            45,370 

員工和董事基於股份的薪酬(追回)

        (240,221)           (240,221)

AQMS未分配的LINICO分紅派息

                 (47,528)  (47,528)

向AQMS的LINICO分配

                 (70,355)  (70,355)

凈利潤

           12,364,975      1,376,189   13,741,164 

資產負債表 - 2023年9月30日

  117,130,225  $77,888  $359,533,078  $(290,263,882) $(3,360,867) $3,883,147  $69,869,364 
                             

餘額 - 2024年1月1日

  117,862,081  $78,405  $363,889,245  $(282,329,611) $(3,360,867) $  $78,277,172 
                             

普通股發行

  4,102,697   2,732   1,460,978            1,463,710 

普通股發行成本

        (225,120)           (225,120)

爲發行成本而發行普通股

  250,000   167   84,833            85,000 

爲債務發行成本而發行普通股

  489,141   326   249,674            250,000 

爲債務及應計利息的轉換而發行普通股

  2,276,944   1,516   893,257            894,773 

以發行普通股替代利息支付

  239,609   160   116,443            116,603 

退休庫存股 (2,605,322 股)

  (2,605,322)  (1,735)  (3,359,132)     3,360,867       

員工和董事基於股份的薪酬

     120   56,064            56,184 

非控股權益在子公司股權的歸屬

        (172,600)        172,600    

淨損失

           (6,901,412)     (16,908)  (6,918,320)

餘額 - 2024年3月31日

  122,615,150   81,691   362,993,642   (289,231,023)     155,692   74,000,002 
                             

普通股發行

  15,548,944   10,356   3,739,644            3,750,000 

發行普通股用於償還債務和應計利息

  12,244,556   8,155   3,398,706            3,406,861 

發行普通股以替代支付利息

  375,412   250   123,213            123,463 

爲市場營銷相關費用發放普通股

  561,010   374   162,319            162,693 

爲海伍德租賃修訂發放普通股

  1,500,000   999   508,851            509,850 

爲ASt租賃修訂發放普通股

  4,975,000   3,313   1,583,712            1,587,025 

員工和董事基於股份的薪酬

        43,149            43,149 

與債務修訂相關的權證修改

        108,230            108,230 

淨損失

           (8,633,552)     (18,720)  (8,652,272)

餘額 - 2024年6月30日

  157,820,072   105,138   372,661,466   (297,864,575)     136,972   75,039,001 
                             

普通股發行

  11,704,146   7,795   1,992,205            2,000,000 

支付給Northern Comstock LLC的礦權費用

  2,920,702   1,945   480,555            482,500 

發行普通股用於償還債務發行費用

  844,468   562   135,313            135,875 

發行普通股用於轉換債務和應計利息

  32,571,655   21,693   5,200,543            5,222,236 

發行普通股以代替支付利息

  773,745   516   143,659            144,175 

員工和董事基於股票的補償

        43,149            43,149 

淨損失

           (14,968,015)     (26,568)  (14,994,583)

餘額 - 2024年9月30日

  206,634,788  $137,649  $380,656,890  $(312,832,590) $  $110,404  $68,072,353 

 

簡明綜合財務報表的附註是這些報表的組成部分.

 

8

 

 

Comstock Inc. 及其子公司

簡明合併現金流量表

(未經審計)

 

   

截至九個月

 
   

九月三十日

 
   

2024

   

2023

 

經營活動產生的現金流量

               

凈利潤(虧損)

  $ (30,565,175 )   $ 2,554,833  

調整淨虧損與經營活動使用的現金的折算:

               

折舊和攤銷

    1,833,878       1,979,740  

融資租賃的攤銷

    36,853       32,960  

與融資租賃相關的折扣攤銷

    16,445       229,425  

債務折扣及其他債務相關項目的攤銷

    1,178,105       659,743  

恢復義務的增值

    308,276       282,119  

以普通股支付的利息費用

    384,241       152,877  

無形資產減值

    8,667,869        

資產、廠房和設備的減值

    324,047        

以普通股支付的研發費用

    1,208,180        

SSOF存款註銷的收益

    (400,000 )      

設施出售的收益

          (7,304,570 )

投資收益

          (13,309,875 )

債務滅失損失

    744,256        

債務轉換損失(收益)

    3,690,760       (51,856 )

員工及董事股份基於補償(回收)

    142,482       (67,605 )

衍生工具公允價值變動

    (516,756 )     105,964  

Pelen期權損失

          150,000  

權益法投資的淨損失份額

    1,675,069       1,337,801  

其他

    (392,318 )     (34,357 )
                 

經營資產和負債的變動:

               

預付費用

    (149,362 )     (165,780 )

存款 - 資產

          289,485  

其他資產

    310,055       428,264  

應付賬款

    1,510,114       (320,236 )

應計費用、其他負債和存款

    (1,902 )     581,456  

遞延收入

    1,900        

其他負債

    374,998       1,285,628  

淨現金流出活動

    (9,617,985 )     (11,183,984 )
                 

投資活動的現金流量:

               

購買礦權和財產、工廠及設備

    (804,949 )     (1,515,553 )

出售租賃設施及相關資產的收益

          21,000,000  

購買Aqua Metals Transfer LLC及設施

          (12,000,000 )

出售ABTC普通股的收益

          5,365,981  

出售Green Li-ion優先股的收益

          779,600  

與衍生品相關的合同承諾支付

    (2,464,364 )     (5,625,000 )

向Sierra Springs機會基金公司提供的預付款。

          (1,470,000 )

對SSOF的投資。

    (530,000 )      

無形資產的收購。

    (100,000 )      

對RenFuel應收票據的資金支持。

    (1,350,000 )      

向GenMat提供的預付款。

    (1,235,636 )      

對恢復債券的資金支持。

    (274,711 )      

其他

    (103,000 )     (77,642 )

投資活動提供的(使用的)淨現金

    (6,862,660 )     6,457,386  
                 

融資活動的現金流量:

               

融資租賃的本金償還

    (75,195 )     (377,114 )

發行普通股的收益

    7,213,710       6,350,000  

債務的本金償還

    (850,000 )      

債務發行

    8,000,000        

分配給AQMS的支付

          (70,355 )

債務發行成本

    (90,000 )      

普通股發行費用

    (140,120 )     (257,620 )

融資活動提供的淨現金

    14,058,395       5,644,911  

現金及現金等價物的淨增加(減少)

    (2,422,250 )     918,313  

期初的現金及現金等價物

    3,785,577       2,521,772  

期末現金及現金等價物

  $ 1,363,327     $ 3,440,085  
                 

非現金投資及融資活動:

               

發行普通股用於債務轉換及應計利息

  $ 9,523,870     $ 4,499,598  

發行普通股用於Northern Comstock LLC礦權支付

  $ 482,500     $ 482,500  

發行普通股以償還債務

  $ 385,875     $  

以應付賬款獲取的投資

  $ 1,285,961     $  

發行普通股用於盡職調查和承諾費用

  $ 85,000     $ 350,000  

發行普通股代替支付營銷費用

  $ 162,693     $  

因Haywood租賃修正發行普通股

  $ 509,850     $  

因ASt租賃修正發行普通股

  $ 378,845     $  

GenMat持有的普通股公允價值轉移至GenMat預付款項(見註釋2)

  $ 694,970     $  

由於建築物經營租賃產生的使用權資產和負債

  $ 4,567,814     $ 213,925  

將衍生負債轉移至應計費用

  $ 3,243,853     $  

普通股在債務及應計利息轉換中的回報

  $     $ (287,049 )

出售設施時收到的投資股份

  $     $ 9,365,000  

以投資股份代替託管資金的回報

  $     $ (1,500,000 )

簡明綜合財務報表的附註是這些報表的組成部分.                  

9

 

Comstock Inc. 及其子公司

簡化合並財務報表附註

 

注意 1                  重要會計政策概要

 

公司參考

 

除非另有說明,以下術語 我們, 我們, 我們的, Comstock,或 公司 指Comstock Inc.及其合併的子公司。

 

當前財務報表的基礎和合並原則

 

簡化合並基本報表是根據美國公認會計原則("GAAP")編制的,包含Comstock Inc.及其全資和控股子公司的帳戶。內部交易已被消除。簡化合並基本報表並 包含所有年度合併基本報表要求的披露內容,因此應與我們年度報告中的合併基本報表及其附註一起閱讀。 10-k文件,截止於 2023年12月31日的合併基本報表及附註中. 經營業績爲 九個月期間-個月結束 2024年9月30日 可能 可能代表全年的2024 結果。

 

管理層認爲,隨附的簡明合併基本報表包含了我們截至的財務狀況所需的所有調整, 2024年9月30日以及我們在此期間的經營成果和股權變動。 九個月期間-個月結束 2024年9月30日 2023,以及我們的現金流量表} 九個月期間-個月結束 2024年9月30日 2023.

 

流動性和資本資源

 

簡化合並基本報表是基於持續經營假設編制的,該假設假定資產的實現和負債的履行是在業務的正常過程中進行的。公司已經出現了重複的經營淨虧損,並且累積赤字達$312,832,590 2024年9月30日對於 九個月期間-個月結束 2024年9月30日公司確認的淨虧損爲$30,565,175,現金及現金等價物減少了$2,422,250從$3,785,577 2023年12月31日的合併基本報表及附註中 到$1,363,327 2024年9月30日。公司打算在接下來的時間裏爲其運營提供資金 十二 從計劃銷售非戰略資產和其他投資、根據我們現有的貨架註冊聲明和私人配售發行股權、發行子公司級別股權、計劃的授權和相關工程服務、我們的燃料業務的銷售以及我們的太陽能面板回收業務的已發生營業收入和遞延收入及現金及現金等價物開始的幾個月內。基於這些預期的資金來源,管理層相信公司將擁有足夠的資金維持運營並履行我們的合同和投資承諾。 12 在本壓縮合並基本報表發佈日期後的幾個月內。儘管公司過去在獲取必要的資本以支持我們的運營方面取得了成功,包括從現有的貨架註冊聲明中進行的註冊股權融資、借款、資產出售和其他方式,但仍然存在 公司能夠及時出售額外資產和/或根據需要獲取額外的股權資本或其他融資的保證。我們流動性風險因素包括未來的運營支出超出管理層的預期,包括但不限於勘探、預開發、研究和開發、銷售、一般和行政、投資相關支出、銀泉地產的出售,以及根據我們現有的貨架註冊聲明或某些子公司直接發行的非註冊股權所籌集的資金。 我們普通股股價的下降還會對我們的運營結果、財務狀況、現金流及可用流動性產生不利影響。如果公司無法獲得任何必要的額外資金,這可能會對流動性產生立即的重大不利影響,並引發我們持續作爲一個持續經營主體的能力的重大懷疑。在這種情況下,公司可能需要限制或停止某些業務計劃、活動或運營,減少或推遲某些資本支出或投資,或出售某些資產或業務。可能會有 確保公司能夠以有利的條款,及時採取任何此類行動,或者根本能夠採取這些行動。

 

重分類

 

某些以前的期間金額已重新分類,以符合 2024 財務報表的呈現。重新分類對 之前報告的凈利潤(損失)或現金流產生了影響。

 

最近發佈的會計準則

 

2023年8月, FASB發佈了ASU 2023-05 業務合併 - 創業公司形成(子主題 805-60):確認和初始計量新指引涉及在創業公司獨立基本報表中,對創業公司成立時所作貢獻的會計處理。修訂的目標是(1)向創業公司的基本報表中的投資者和其他資本分配者提供決策有用的信息,並且(2)減少實踐中的差異。該指引採用前瞻性適用,並適用於成立日期爲後 2025年1月1日, 允許提前採用。我們將自 2025年1月1日針對任何新成立的合資企業。

 

2023年11月, FASB發佈了ASU 2023-07 (主題 280) 對可報告分部披露的改進. 新的指引要求披露重要的分部費用,這些費用(1) 經常提供給首席運營決策者或可以輕鬆從經常提供的信息中計算得出,並(2) 包含在報告的分部利潤或虧損的衡量指標中。新的標準還允許公司披露多個分部利潤或虧損的衡量標準,如果這些標準用於評估業績和分配資源。該指引適用於在之後開始的財政年度。 2023年12月15日 以及在之後開始的財政年度的中期 2024年12月15日之後。 允許提前採用,且對於不切實際的情況要求追溯採用。該指導方針在實施時可能會導致額外的披露要求。這些新的披露要求將包含在截至 2024年12月31日的合併基本報表中。 比較年度的分部披露 2023年12月31日 將修改以包括新的要求。新的披露將包括我們重要的分部費用類別及每個可報告分部的金額,我們的首席運營決策者以及首席運營決策者如何使用每個報告的分部利潤和損失指標來評估績效併爲該分部分配資源。

 

2023年12月, FASB發佈了ASU 2023-09 (主題 740)對所得稅披露的改進新的指導方針旨在增強年度所得稅披露,以回應投資者對公司運營中存在的稅收風險和機會的信息需求。本標準中的修正要求按指定類別披露與有效稅率與法定稅率之間的調節(稅率調解)有關的額外信息,包括聯邦、州和外國所得稅。還要求增加關於稅率調解中個別調節項目的詳細信息,前提是這些項目的影響超過指定閾值。除了與稅率調解相關的新披露外,本次更新中的修正要求提供關於所支付稅款(扣除已收到退款)信息的分解,分別針對聯邦、州和外國稅款,以及進一步分解爲特定司法管轄區,前提是相關金額超過定量閾值。本次更新中的修正適用於2024年12月15日之後開始的年度期間, 並允許提前採納。公司計劃在 2025年1月1日。 公司目前正在評估此披露指引對我們合併基本報表的影響。

 

管理層認爲, 任何其他近期發佈但尚未生效的會計準則,如果目前被採納, 當前所採用的會計準則雖未見效,但會對伴隨的基本報表產生重大影響。

 

10

 
 

注意 2                  投資

 

投資摘要

 

2024年9月30日 2023年12月31日的合併基本報表及附註中 我們的投資包括:

 

  

2024年9月30日

  

2023年12月31日

 

權益法投資:

 

投資

  

所有權百分比

  

投資

  

所有權百分比

 

量子生成材料有限責任公司

 $10,007,752   48.19% $11,606,763   48.19%

皮倫有限責任公司

  607,471   25.00%  609,165   25.00%

對研發公司的投資

  1,216,252   40.00%     %

總權益法投資

  11,831,475       12,215,928     
                 

計量替代投資:

                

綠鋰離子私人有限公司

  18,912,985   13.34%  18,912,985   13.34%

塞拉春季機會基金公司

  19,575,000   17.38%  19,045,000   17.11%

總計量替代投資

  38,487,985       37,957,985     
                 

總投資

  50,319,460       50,173,913     

減:當前投資

  (18,912,985)      (18,912,985)    

長期投資

 $31,406,475      $31,260,928     

 

附屬公司的基本報表摘要(20% 到 50%-擁有)按權益法計算的財務信息,數據來自權益投資者的基本報表, 一個 並以季度滯後報告如下:

 

  

2024年9月30日

  

2023年12月31日

 

流動資產

 $972,618  $665,765 

非流動資產

  4,025,449   6,260,818 

流動負債

  508,710    

非流動負債

  312,571    

 

  

截至九個月

 
  

2024年9月30日

  

2023年9月30日

 

營業收入

 $519,400  $47,400 

毛利潤

  51,800   47,400 
         

淨損失

 $(4,456,715) $(3,587,417)

歸屬於Comstock Inc. 的淨虧損。

 $(1,675,069) $(1,337,801)

 

在收購時,管理層確定我們投資價值超過各個權益法投資的淨資產部分由商譽和知識產權組成。 2024年9月30日 2023年12月31日的合併基本報表及附註中上述表格中總結的財務信息中的非流動資產包括對公司的普通股的GenMat投資和相關衍生資產,金額爲$0.2 百萬和$3.7百萬,分別。

 

對量子生成材料公司的投資

 

2021年6月24日, 本公司投資了Quantum Generative Materials LLC(「GenMat」)的股權,我們收到了 465,000 會員單位並承諾$5,000,000 現金和$10,000,000 的保證股票價值,總計$15,000,000 用於初始SEED投資,並承諾額外$35,000,000 基於GenMat實現關鍵開發里程碑,最高可達 50% 對GenMat的持股。該公司支付了$5.0 百萬現金在 20212022 簽署協議後,向GenMat發行了 3,000,000 股份的普通股。協議規定,股票銷售所得將用於抵消$10.0 百萬的融資承諾。

 

通過 2024年5月17日, Comstock直接投資了現金$9,714,364 用於$10.0 百萬承諾。此外,在 2024, GenMat共售出了 486,549 持有的Comstock普通股,總收益爲$285,636直接現金資助加上GenMat從出售Comstock普通股中獲得的收益總計$10.0 百萬,從而履行達成的承諾, 2021. 在此期間, 九個月期間-個月結束 2024年9月30日2023, Comstock支付了$2,164,364 和 $3,600,000分別針對初始的$10,000,000 資金承諾(見註釋 11, 公允價值計量).

 

2024年5月17日, GenMat持有 2,513,451 的Comstock普通股,公允價值爲$694,970根據協議條款,這些股份未來出售的收益將用於抵消未來投資批次在GenMat的購買價格。10.0 在達到$ 2024年5月, 公司向GenMat提供的所有基金類型被記錄爲預付款,且每期公允價值的變化計入收益(見註釋 3, 應收賬款和預付款,淨額).

 

2024年9月30日, 這些股票的公允價值爲$1,188,862 基於該期間結束時Comstock普通股的收盤交易價格。在此期間。 九個月期間-個月結束 2024年9月30日公司確認了該資產公允價值變動帶來的收益,來自於 2024年5月17日 2024年9月30日 爲$776,656 和 $493,892相應地,這部分收益包含在綜合財務報表中的其他收入(費用)中。

 

截至 九個月期間-個月結束 2024年9月30日公司記錄了$425,872 和 $1,599,011分別是,我們對GenMat的投資在權益損失中的份額。

 

截至 九個月期間-個月結束 2023年9月30日公司記錄了$533,635 和 $1,322,844分別在我們對GenMat的投資中,從關聯公司虧損的資本中。

 

11

 

公司的執行主席兼首席執行官擔任GenMat的董事長,公司首席科技官和另一名Comstock員工也擔任GenMat的董事會成員。GenMat的董事會由以下人員組成, 公司員工擁有 一個 票,與GenMat的首席執行官和創始人一起,他獲得了 四個 票。

 

請參見注釋 15, 後續事件, 針對GenMat。

 

對Pelen LLC的投資

 

2020年4月24日, 公司完成了對 25% 的Pelen LLC(「Pelen」)的會員權益收購,價格爲$602,500對於 九個月期間-個月結束 2024年9月30日, 公司錄得$1,952 在權益收入中和$1,694 在對關聯公司的投資中錄得權益損失,針對我們的Pelen投資。 九個月期間-個月結束 2023年9月30日公司記錄了$2,100 在股權收入和$14,957 因我們對Pelen的投資而產生的股權損失。

 

對研發公司的投資

 

2024年3月1日, 公司與一家無關聯的研發公司(「開發者」)簽訂了證券購買協議(「開發者證券購買協議」),根據該協議,公司同意購買 4,000,000 開發者的普通股 40%的開發者完全稀釋後的發行和流通資本股票,金額爲$1,500,000。同時,爲了與開發者證券購買協議相關, 公司和開發者簽訂了開發服務協議(「DSA」),以進行某些研發工作。根據開發者證券購買協議,公司需支付的購買價款將按照以下時間表支付:

 

階段 1

 

$100,000 2024年3月1日;

 

$20,000 每月從 2024年3月1日 直到該 首先 項目在DSA下完成;和

 

$205,000 在完成時 首先 DSA項目下的

 

完成階段後 1

 

$30,000 每月直到全部付款爲止;以及

 

$205,000 在完成時 首先 DSA下的項目。

 

由於支付是 有利息的,軸承公司計算了未來現金支付的隱含利息,金額爲 $214,039 ,使用的利率爲 9.76%,這被記錄爲初始投資的折扣,金額爲 $1.5百萬,並將在支付期限內確認。軸承公司記錄了相應的應付款項,以應對對開發者的 40%的所有權權益。在 2024年9月30日未來剩餘的付款,淨隱含利息,總計$1,122,424(見註釋 6, 應計費用及其他負債)。對於 九個月期間-個月結束 2024年9月30日, 公司錄得$25,964 和 $74,364在對開發者的投資方面,我們的股權損失分別爲。九個月期間-個月結束 2024年9月30日,Comstock支付了$60,000 和 $240,000,分別根據開發者證券購買協議的資金承諾支付給開發者。

 

對綠色鋰離子的投資

 

作爲我們收購LINICO多數股權的一部分 2021年12月30日, 我們收購了 37,162 綠色鋰離子私人有限公司(「綠色鋰離子」)的優先股。開啓 2023 年 9 月 12 日, LINICO獲得的總收益爲美元795,510,扣除佣金 $15,910,來自銷售 1,500 綠色鋰離子優先股售價爲美元530.34 每股並錄得的已實現收益爲美元597,248 包含在合併運營報表中的投資收益(虧損)中 第三 的四分之一 2023. 在本次出售中,公司對剩餘部分進行了估值 35,662 它按美元現金利率持有的綠色鋰離子優先股530.34 每股導致確認的未實現投資收益爲美元14,577,6272023. 該公司打算在此期間出售剩餘的綠色鋰離子優先股2025.

 

對西拉春天機會基金公司進行投資。

 

2019, 公司投資了$335,0006,700,000 西耶拉泉機會基金公司(「SSOF」)的普通股。來自 2020 所規定的條款 2023年11月, 公司向SSOF及其子公司預支了$6,985,000 用於購買土地、土地定金支付以及土地和水權購買的選擇權支付。於 2023年12月29日, 公司與SSOF同意將總借款轉換爲 3,880,556 SSOF普通股票的股份。轉換價格爲$1.80 每股的價格是根據SSOF普通股的現金銷售和SSOF房地產業資產的增值確定的公允價值。公司的SSOF普通股份初始 2019 投資被重新評估爲$1.80 每普通股導致確認未實現收益$11,725,0002023., 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 的季度 2024, SSOF以每股$發行了額外的股權。1.80 向 , 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“-方投資者,減少了我們的持股比例到  17.38%。公司監控SSOF的額外股權發行,以評估所發行的股票證券是否屬於類似投資,從而需要對我們的投資賬面價值進行公允價值調整。到  2024年9月30日 由於SSOF股權發行,我們對投資的賬面價值進行了調整。

 

2023年12月31日的合併基本報表及附註中, 公司的總SSOF投資包括 10,580,556 普通股,或者 17.11% 的SSOF已發行普通股,按完全稀釋後的轉換基礎計算。對於 九個月期間-個月結束 2024年9月30日,公司額外投資了 $530,000在每股 $1.80 將我們在SSOF的股權提高到 10,875,000普通股,或 17.38% 在 2024年9月30日

 

公司的首席執行官是SSOF的高管。

 

12

 

對美國電池科技公司的投資

 

與該設施的銷售有關, 2023, 公司收到 11 百萬股有限流通普通股,來自設施的買方,美國電池科技公司(「ABTC」),其初始公允價值爲$9,365,000 (見說明 7, 租賃)。在 2023年6月30日, 公司和ABTC修改了協議,公司的股份被退還 1,923,077 ABTC限制性股份的金額,ABTC同意放棄有$1.5百萬的購買價格預留在託管賬戶中以解決賠償請求。在 2023年8月, 剩餘的 9,076,923 公司擁有的股份變爲無限制。在 , 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 的季度 2023, 公司出售了所有 9,076,923 ABTC股份的收益爲$5,456,920減去佣金費用爲$90,939對於 九個月期間-個月結束 2023年9月30日公司在損失中確認了$1,100,000 和 $1,865,000在合併綜合經營報表中,投資收益包含的投資損失分別爲。

 

注意 3                  應收票據和預付款,淨額

 

應收賬款和預付款淨額爲 2024年9月30日 2023年12月31日的合併基本報表及附註中 包括:

 

  

2024年9月30日

  

2023年12月31日

 

非流動部分

        

RenFuel K20億 應收賬款

 $1,350,000  $ 

GenMat預付款

  2,424,498    

Daney Ranch 應收賬款

  980,291   980,291 

總應收賬款和預付款,非流動部分,淨額

 $4,754,789  $980,291 

 

RenFuel K2B Ab (RenFuel)

 

開啓 2024 年 1 月 2 日, 公司出資 $250,000 向 RenFuel 申請定期貸款,利息爲 7每年百分比,到期日 2024 年 2 月 15 日。開啓 2024 年 4 月 19 日, 公司和RenFuel簽訂了一項證券購買協議,其中公司同意爲RenFuel提供資金 十二 一小部分 $250,000 最高不超過本金總額 $3,000,000 對於 7% 優先擔保可轉換票據(「優先擔保可轉換票據」)。開啓 2024年6月27日, 雙方簽署了RenFuel SPA的修訂協議,其中包括某些律師費,最高可達美元450,000,將優先有擔保可轉換票據的本金總額增加到美元3,450,000。全職校長和 7年利率百分比的到期日爲 2034 年 4 月 30 日。 優先擔保可轉換票據由 (i) a擔保 第一 對RenFuel和RenFuel所有物質資產的優先留置權 K2B 根據證券購買協議,Ipco Ab(「SPV」)優先於所有其他目前未償還的及以下是現有的RenFuel債務,(ii)a 第一 RenFuel授予的優先擔保權益和留置權 100% 根據證券購買協議,SPV的已發行和流通股權,以及(iii)a 第一 優先擔保權益和留置權 100% 根據擔保和證券購買協議,SPV現在和以後的現有資產。RenFuel通過發行優先擔保可轉換票據完全滿足了定期貸款。

 

截至 九個月期間-個月結束 2024年9月30日,公司資助了$1,350,000,其中包括$450,000 法律費用$,根據高級有擔保可轉換票據,資金已提供給RenFuel。爲了 九個月期間-個月結束 2024年9月30日公司確認了利息收入爲$20,613 和 $32,958,分別爲。到 2024年9月30日公司在截至2023年10月的情況下,記錄了應收利息$32,958 在我們濃縮的合併資產負債表中,預付費用和其他流動資產中列示了$。

 

GenMat進展

 

GenMat的預付餘額包括 $1,235,636 在 GenMat期間預付的現金九個月期間-個月結束 2024年9月30日,和 $1,188,862 代表GenMat持有的公司普通股的公允價值。公允價值是基於公司股票的交易價格確定的。 2024年9月30日. GenMat持有的普通股的公允價值將用於抵消公司未來對GenMat的投資(見註釋2, 投資 和註釋 11, 公允價值計量)。這些預付款是無息的。

 

注意 4                  財產、計劃與設備、淨值和礦權

 

截至2023年10月的數據,物業、植物和設備在 2024年9月30日 2023年12月31日的合併基本報表及附註中 包括以下內容:

 

  

2024年9月30日

  

2023年12月31日

 

土地

 $  $6,328,338 

租賃給第三方的房地產

  1,037,049   1,037,049 

礦物加工用的財產、廠房和設備

  27,644,745   27,644,745 

其他

  7,561,408   7,394,191 

累計折舊

  (27,622,556)  (27,200,293)

總財產、廠房和設備,淨值

 $8,620,646  $15,204,030 

 

-個月結束 2024年9月30日 2023我們確認了$的折舊費用143,265 和 $142,915,分別。在 九個月期間-個月結束 2024年9月30日 2023我們確認了折舊費用爲$422,263 和 $478,388,分別在 2024年9月30日 2023年12月31日, 公司擁有$433,411 和 $402,931分別爲未投入使用的物業、廠房和設備 尚未投入使用並且具有 尚未貶值。在 , 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 的季度 2024, 公司對過時設備進行了減值處理 尚未在我們的公司部門投入使用。對於九個月期間-個月結束 2024年9月30日公司在截至到2023年10月的數據中記錄了$的減值損失,324,047 在我們的簡明合併運營報表中,設備的減值記錄在財產、工廠和設備的減值中。

 

礦產權益和財產

 

我們在此的房產 2024年9月30日 2023年12月31日的合併基本報表及附註中 包含以下內容:

 

  

2024年9月30日

  

2023年12月31日

 

康斯托克礦產地產

 $10,842,716  $12,164,013 

其他礦產物業

  317,405   317,405 

水權

  90,000   820,595 

礦權和物業總計

 $11,250,121  $13,302,013 

 

13

 

康斯托克礦產資產包括公司所有的資源區域和勘探目標。 九個月期間-個月結束 2024年9月30日 2023我們沒有 記錄任何耗竭費用,作爲 截至2024年9月30日和2023年12月31日,未發行。 這些資產目前正在生產中。我們所有的礦產勘探和採礦租賃付款在壓縮合並運營報告中被歸類爲銷售、一般和行政費用。

 

2023年6月30日, 公司與Mackay 貴金屬公司("Mackay")簽署了一份礦產勘探和採礦租賃協議("採礦租賃")。該採礦租賃提供了 二十-年期限,授予Mackay在內華達州Storey縣對公司某些礦產財產進行勘探的權利。Mackay支付了$1,250,000 並且已經他們的 首先 兩個 季度租賃支付總計 $875,000,隨後每季度租賃支付 $375,000 在接下來的 年半,之後剩餘的季度租賃支付 $250,000 。此外,麥凱將補償礦產物業的持有成本,並將支付一個 1.5% 的冶煉淨回報(「NSR」)版稅,來源於礦產物業的最終礦山生產。麥凱還承諾每年在累積基礎上進行 $1,000,000 的勘探支出,並在此之後提供越來越詳細的技術報告。 首先 五、十,和 十五 年。 

 

我們確定採礦租賃啓動費用爲$1,250,000 應在採礦租賃的期限內按比例確認爲營業收入,季度租金將在收到時確認爲營業收入。在九個月期間-個月結束 2024年9月30日中,我們記錄的營業收入爲$390,625 和 $1,171,876分別包括季度租賃付款$1,125,000和租賃啓動費用的攤銷$46,876對於 九個月期間-個月結束 2023年9月30日我們記錄的營業收入爲$490,625 其中包括 首先 季度租賃付款爲$475,000 以及租賃啓動費的攤銷爲$15,6252024, 公司承諾計劃出售內華達州斯托裏縣的礦產資源,$1,171,874 我們短期合併資產負債表中仍然記錄有遞延營業收入的啓動費用,並將其作爲當前的遞延營業收入。

 

待售的資產

 

第二, 在滿足12月 Tranche A 支付之後,向 Tranche b 票據的持有者支付一個 等同於並滿足攤銷贖回價格(如 Tranche b 票據中定義)在2025年1月2日到期的總金額(“ 的季度 2024, 公司已承諾計劃出售位於內華達州里昂縣的工業和商業土地。該餘額爲$6,328,339在截至的簡明合併資產負債表中,被列爲待售資產。 2024年9月30日

 

首先 的季度 2024, 公司承諾出售Comstock Northern Exploration LLC的會員權益,包括礦產資源權。截止至 2024年9月30日待出售的資產包括餘額爲$的礦產資源權1,321,297

 

2023 年 3 月, 該公司收購了高級用水權 (50-英畝英尺)與 其現有財產和初級用水權(16-英畝英尺),總計 $730,595。在 第二 的四分之一 2024, 該公司承諾了一項出售水權的計劃,並在簡明的合併資產負債表中將這些水權重新歸類爲待售資產。

 

該公司的待售資產在 2024年9月30日 2023年12月31日的合併基本報表及附註中 包括以下內容:

 

待售資產

資產組

 

2024年9月30日

  

2023年12月31日

 

礦產權

礦產權和財產

 $1,321,297  $ 

水權

礦產權和財產

  730,595    

土地

淨資產、廠房和設備

  6,328,339    

出售總資產

 $8,380,231  $ 

 

 

注意 5                  無形資產

 

該公司的無形資產包括在 2024年9月30日 2023年12月31日的合併基本報表及附註中 以下內容:

 

  

預計

         
  

經濟生活

         

描述

 

(以年爲單位)

  

2024年9月30日

  

2023年12月31日

 
            

發達的技術

 10  $7,879,402  $19,582,402 

許可證協議

 10   499,952   510,752 

客戶協議

 1   122,885   122,885 

分銷協議

 8   19,733   19,733 

商標

 10      7,000 

累計攤銷

     (2,635,424)  (4,376,740)

無形資產,淨值

    $5,886,548  $15,866,032 

 

截至目前的累計攤銷 2024年9月30日 2023年12月31日的合併基本報表及附註中 包括以下內容:

 

  

2024年9月30日

  

2023年12月31日

 

發達的技術

 $2,336,795  $4,113,045 

許可證協議

  165,647   131,917 

客戶協議

  122,885   122,885 

分銷協議

  10,097   7,493 

商標

     1,400 

累計攤銷

 $2,635,424  $4,376,740 

 

 

14

 
爲了 -截至的月份 2024年9月30日 2023與無形資產相關的攤銷費用爲 $404,867和 $500,450,分別爲。 九個月期間-個月結束 2024年9月30日 2023與無形資產相關的攤銷費用爲 $1,411,615 和 $1,501,352,分別爲。

 

未來的最低攤銷費用如下: 2024年9月30日:

 

2024年剩餘時間

 $210,354 

2025

  841,415 

2026

  841,415 

2027

  841,415 

2028

  838,669 

之後

  2,313,280 
  $5,886,548 

 

無形資產餘額的變化如下: 九個月期間-個月結束 2024年9月30日 2023如下所示:

 

  

截至2023年12月31日

  

新增

  

減值

  

攤銷

  

截至2024年9月30日

 

無形資產

 $20,242,772  $100,000  $(11,820,800) $  $8,521,972 

累計攤銷

  (4,376,740)     3,152,931   (1,411,615)  (2,635,424)

無形資產和商譽總額

 $15,866,032  $100,000  $(8,667,869) $(1,411,615) $5,886,548 

   

  

截至2022年12月31日

  

新增

  

減值

  

攤銷

  

截至2023年9月30日

 

無形資產

 $20,042,772  $  $  $  $20,042,772 

累計攤銷

  (2,379,091)        (1,501,352)  (3,880,443)

總無形資產和商譽

 $17,663,681  $  $  $(1,501,352) $16,162,329 

 

, 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 的季度 2024, 我們確定,我們重新處理清潔和可重複使用材料的能力確實需要使用我們獲得的先進科技。 因此,公司對與我們金屬期貨部門相關的開發科技的無形資產淨餘額記錄了$的減值。 2021.此外,我們對與商標相關的無形資產進行了$的減值。8,655,176 5,133 在我們的企業部門和許可證$7,560 在我們的戰略投資部門。無形資產的總減值爲$8,667,869 在本季度確認並 九個月期間 截至月份 2024年9月30日 在我們的合併財務報表中。

 

該公司是 許可協議(統稱爲「ASt許可協議」)與美國科學與科技公司(「AST」)簽訂,根據該協議,公司同意許可AST的某些知識產權供在 設施使用,作爲交換 具體設施的許可費用爲$500,000 每個,以及等於 1.0% 每個營業收入總額的 首先 運營設施。截至 2024年9月30日,我們已經獲得了 許可協議和 預計會有額外的許可費用。 截至 2024年9月30日, 根據ASt許可協議,版稅費用已經支付。

 

2023年12月28日, 公司與Flux Photon Corporation(「FPC」)簽署了修改協議( “2023 「FPC資產購買協議修訂」)以修訂2021年9月7日簽署的某項資產購買協議, 和2021年12月10日修訂的 經修訂後稱爲「FPC資產購買協議」)。根據FPC資產購買協議,公司收購了某些知識產權和相關的光催化實驗室設備(「FPC資產」)。原始購買價格包括對FPC資產的應付款項爲$17,650,000僅從 20% 的未來現金流,未來的合併銷售額減去總的變量成本、營業費用、維護、稅款支付,以及公司及其現在和未來子公司的債務服務支付,直到購買價格全額支付爲止。 2023 FPC 資產購買協議修訂版將支付給FPC的購買價格減少至 $16,850,000 2023年12月28日, 公司已支付 $200,000 該款項被視爲知識產權的收購。剩餘餘額 $16,650,000 將從未來現金流中支付給FPC。 2024年9月20日,公司從未來現金流中向FPC支付了額外的$100,000 剩餘餘額爲$16,550,000公司的首席科技官和公司董事會成員,還是 100持有% 的FPC普通股,因此間接受益於根據FPC資產購買協議向FPC支付的所有款項(見註釋 14, 關聯方交易).

 

15

 
 

注意 6                  應計費用和其他負債

 

應計費用及其他負債爲 2024年9月30日 2023年12月31日的合併基本報表及附註中 包括以下內容:

 

  

2024年9月30日

  

2023年12月31日

 

應計利息費用

 $259,630  $52,500 

應計工資及相關費用

  768,174   798,827 

應計激勵薪酬

  1,082,813   1,332,169 

應計供應商負債

  193,436   53,088 

應付給研究與開發公司的款項

  453,059    

LINICO 合同承諾

  3,243,853    

其他應計費用

  52,819   47,402 

Total accrued expenses

 $6,053,784  $2,283,986 

 

2022年7月1日, 公司的董事會批准了一項基於業績目標的現金激勵薪酬計劃,供公司的高管使用,潛在的業績獎金可達 100%的基本工資。 2023年4月28日,970,000 董事會薪酬委員會批准了除了首席執行官之外的指定高管的激勵薪酬,金額爲$ 截至2022年12月31日 並支付於 第二, 在滿足12月 Tranche A 支付之後,向 Tranche b 票據的持有者支付一個 等同於並滿足攤銷贖回價格(如 Tranche b 票據中定義)在2025年1月2日到期的總金額(“, 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 的季度 2023.對於 九個月期間-個月結束 2023年9月30日,公司支出了$444,057 和 $1,332,169,分別爲 2023 應計的激勵補償。公司的薪酬委員會的董事會決定估計$1,332,169用於2023 獎勵補償將根據對激勵計劃目標的評估進展被取消。公司因此減少了預計的 2023 激勵提成的 第二, 在滿足12月 Tranche A 支付之後,向 Tranche b 票據的持有者支付一個 等同於並滿足攤銷贖回價格(如 Tranche b 票據中定義)在2025年1月2日到期的總金額(“, 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 季度 2024 減少了$507,169 和 $825,000,分別。對於 九個月期間-個月結束 2024年9月30日,公司支出了$670,313 和 $1,082,813,分別爲 2024 在簡明合併基本報表中計提的激勵補償。截至 2024年9月30日2024激勵補償爲$1,082,813至今計提的預計將在 2025. 

 

截至 2024年9月30日,對一家研發公司的短期應付款爲$453,059和長期應付款爲$669,365 是根據與研究和開發公司簽署的證券購買協議中的付款 2024年3月1日, (參見注釋 2, 投資對於 九個月期間-個月結束 2024年9月30日公司確認的利息支出爲$31,997 和 $76,464,分別。在九個月期間-個月結束 2024年9月30日,Comstock支付了$60,000 和 $240,000,分別根據開發者證券購買協議的資金承諾支付給開發者。

 

截至 2024年9月30日,LINICO的合同承諾爲$3,243,853 包括對LINICO前首席執行官的補償支付(見註釋 11, 公允價值計量 - LINICO衍生工具). 

 

注意 7                  租賃                  

 

公司在簡明合併資產負債表上記錄的以下租賃餘額如下:

 

租賃資產和負債

分類

 

2024年9月30日

  

2023年12月31日

 

融資租賃使用權資產

融資租賃 - 使用資產的權利, 淨值

 $3,100,972  $2,923,766 

經營租賃使用權資產

經營租賃 - 使用資產的權利, 淨值

  4,729,427   237,617 

使用權資產總額

  $7,830,399  $3,161,383 
          

運營租賃負債 - 當前

應計費用和其他負債

 $42,820  $37,401 

經營租賃負債-長期

經營租賃 - 使用權租賃負債

  4,779,042   205,154 

融資租賃負債,當前部分

融資租賃 - 使用權租賃負債

  515,140   838,676 

租賃負債總額

  $5,337,002  $1,081,231 

 

公司在合併的經營報表中記錄的租賃成本如下:
 
  

三個月結束

  

截至九個月

 
  

2024年9月30日

  

2023年9月30日

  

2024年9月30日

  

2023年9月30日

 

融資租賃成本:

                

使用權資產的攤銷

 $12,810  $9,307  $36,853  $32,960 

租賃負債的利息

     16,776   16,445   229,426 

運營租賃成本

  162,682   12,464   197,549   17,513 

總租賃成本

 $175,492  $38,547  $250,847  $279,899 
                 

其他信息

                

來自經營租賃的經營現金流

 $76,871  $2,475  $110,051  $7,425 

融資租賃的現金流

 $25,064  $25,064  $75,195  $377,114 

 

16

 
公司對我們的融資租賃和經營租賃的加權平均剩餘租期和折扣率如下:

 

  

2024年9月30日

  

2023年9月30日

 

融資租賃的加權平均剩餘租賃期限

  0.58   0.58 

經營租賃的加權平均剩餘租賃期限

  9.60   4.86 

加權平均折現率 - 融資租賃

  %  8.0%

加權平均折現率 - 經營租賃

  13.0%  13.2%

 

融資租賃

 

設施租賃

 

九個月期間-個月結束 截至2023年9月30日,公司收到$29.1 百萬(現金收入爲$21.25 百萬和限制性ABTC股票$7.9 百萬),用於租賃設施(「設施」)及所有相關設備的出售,其中設施部分的出售最終在 2023年8月 此時公司確認獲得了$7.3百萬。在 2023年4月26日, 公司完成了對Aqua Metals Inc.所持Aqua Metals Transfer LLC會員權益的購買,並支付了剩餘的$12.0 百萬,完全擁有Aqua Metals Transfer LLC的會員權益並終止該租約。對於 九個月期間-個月結束 2023年9月30日, 公司在出售該設施時確認了收益 $7.1 百萬和$7.3 百萬,分別爲。

 

2023年4月21日, 公司與ABTC簽署了一份前期租賃協議,允許ABTC在銷售完成之前使用該設施。租賃協議的條款於 2023年4月21日, 並於 2023年6月30日 結束,ABTC每月支付$1 的租金。於 2023年6月30日, 租期在後續被自動延長。 2023年6月30日, 按月計算,月租金增加到$175,000 根據租賃條款,ABTC 負責支付與該設施相關的所有稅費和運營成本。 , 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 的季度 2023, 公司收到了$237,473 在關閉日期之前從ABTC租賃設施獲得的租金收入, 八月2023, 當時租賃合同已終止。

 

資產購買協議

 

2021年4月16日, 公司與ASt簽署了一項資產收購協議(「ASt資產收購協議」)。同時,爲了簽署ASt資產收購協議,公司與ASt還簽署了ASt許可協議(見註釋 5, 無形資產)。ASt許可協議規定在此設施及其中所有機械和設備的全面使用,直至 2022年4月30日。 根據ASt資產收購協議,公司同意以$3,500,000 支付。 2024年4月30日 除了$35,000 每月從 2022年5月1日 2025年4月30日。 開始 2022年5月1日, ASt資產購買協議規定,直到所有款項支付完畢並且所有權轉讓給公司之前,全面訪問和使用ASt資產。

 

根據協議購買的所有資產都用於研發活動。所獲得的機械和設備是爲特定目的而建,正在用於處理木質生物質轉化爲可用於生產紙製品和燃料的中間材料所需科技的開發測試。這些資產已經 具有替代的未來用途。購買的設施是位於威斯康星州沃索的工業物業,具有替代用途。自合同生效以來,合同下的付款根據其相對獨立的估計公允價值分配給合同的租賃和非租賃元件。

 

2024年4月2日, 公司與ASt修改了ASt許可協議和ASt資產購買協議(「許可協議修訂」),以修訂根據ASt許可協議和ASt資產購買協議支付的對價,使得未來的某些或潛在的所有義務將以公司的普通股票支付。根據ASt資產購買協議支付的對價被以下內容替代:

 

 

5 在許可證協議修正的生效日期後的業務日內,公司將向 4,975,000 ASt發行公司的普通股股份,
 

開啓或之前 2025年4月30日, 公司將向aST支付等於美元的款項3,500,000 減去出售公司股票獲得的淨現金收益,再加上美元的應計利息3,500,000 速率爲 12每年百分比,利息起始於 2024 年 5 月 1 日 並根據許可協議修正案(「真實付款」)的條款計算,以及
 該公司將支付 aSt $35,000 每月租金起始日期 2024 年 5 月 1 日 2025 年 4 月 30 日。

 

2025年4月30日, 如果未售出公司股票的價值加上ASt因銷售公司股票收到的淨現金收益超過真實補償付款,則該超出部分應按比例應用於減少根據ASt許可協議支付的對價。在 2024年4月10日, 根據許可證協議的修訂,公司發行了 4,975,000 公司的普通股股份給ASt,公允價值爲 $1,587,025 由我們普通股的收盤價確定 $0.319 2024年4月10日。 公允價值爲 $1,587,025 用於 4,975,000 普通股已發行股份的價值被分配爲租賃負債的減少 $378,845 以及研發費用的確認 $1,208,180該修訂導致使用權資產和租賃負債的增加 $114,059
 
根據該協議支付的款項中,有一部分與收購的機械和設備相關,並在合併簡明的運營報表中作爲研發費用確認。期間, 九個月期間-個月結束 2024年9月30日,公司確認了 $79,935和 $1,447,985分別是研發費用。在 九個月期間-個月結束 2023年9月30日公司確認 $79,935和 $239,805與本協議項下的付款相關的研發費用,分別爲。

 

海伍德礦石收購與租賃協議

 

2022年4月7日 2022年11月7日 公司與Decommissioning Services LLC(「去委託服務」)簽訂了購買協議(「海伍德購買協議」),以總價$購買海伍德採石場和工業物業(「海伍德物業」)2.1百萬,支付方式爲$50,000 現金和 1,500,000 公司普通股,總價值爲$2,295,000海伍德地產大約有 190 工業用地在內華達州里昂縣,部分 一個 由更大的工業園區組成,該地區擁有電力、水源和直接公路通道。公司計劃將部分物業用於儲存使用壽命結束的電氣化產品。

 

17

 

海伍德購買協議的結束取決於股份的清算和退役服務公司收到全額購買價。公司同意在股份銷售收益加上存入資金少於$ 百萬時彌補任何缺口,退役服務公司同意退還任何超出部分。此合同股票補償已作爲衍生品記錄在合併資產負債表上(見附註 公平價值計量)。2.2 百萬,退役服務公司同意退還任何超出部分。此合同股票補償已作爲衍生品記錄在合併資產負債表上(見附註 11, 公平價值計量)。

 

2024年4月2日, 公司與退役服務公司修改了海伍德購買協議,將關閉的最晚日期延長至 2025年6月30日, 並將購買價格提高到 $2.2 百萬。根據修正案,公司將每月支付 $75,000 給退役服務公司,每筆付款中有 $60,000 應用於 $2.2 百萬購買價格,直到這些申請的現金金額加上以前的現金支付加上公司普通股銷售的淨收益等於$2.2 百萬。在 2024年4月11日, 根據修正案,公司向拆解服務公司發行了 1,500,000 股普通股,公允價值爲$509,850。該支付已被用於抵消與普通股相關的完全償付衍生負債。購買價格從$2.1 百萬減少到$2.2 百萬的增加使使用權融資租賃資產和完全償付衍生負債增加了 $100,000 (見說明 11, 公允價值計量法)。

 

在執行海伍德購買協議與交易完成之間的期間,退役服務公司將海伍德物業租賃給康斯托克勘探,作爲 額外的對價,提供獨佔權以訪問、使用或轉租海伍德物業的部分區域,以獲得許可證併爲其預期用途準備該物業,包括改進。如果交易完成的條件在 2025年6月30日之前得到滿足, 海伍德購買協議將終止,退役服務公司將保留總計$ 的租金,以用於海伍德物業。在此租賃期間,康斯托克勘探將向退役服務公司支付400,000 一筆費用。 2任何從海伍德物業中生產和銷售的砂石、骨料或岩石產品的銷售價格的%版稅,不包括已承諾給某方用於改進的材料的移除。 , 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“-方所做的改進。

 

經營租賃

 

截至 九個月期間-個月結束 2024年9月30日短期經營租賃費用爲$25,199 和 $70,699,分別。對於 九個月期間-個月結束 2023年9月30日, 開空期經營租賃費用爲$44,789 和 $75,367,分別爲。

 

2023年8月15日, 公司作爲承租方,與Sierra Clean Processing LLC(「SCP」)簽署了一份房地產業和建築租賃協議(「SCP建築租賃」),租賃位於內華達州銀泉的房地產及其改建。SCP建築租賃的期限爲 -年,始於 2023年8月1日, 並自動續約另一個 -年期。根據SCP大樓租賃協議,租金支出爲$4,680 每月租金爲$,每年租金增長 3%,所有租賃付款均被確認作爲租金支出。在租賃開始時,SCP大樓租賃被分類爲經營租賃,租賃期限爲 年。在 2023年8月15日, 公司記錄了一項使用權資產和租賃負債,總額爲$213,925 和 $213,925,分別以折扣率爲 13.57%。對於 九個月期間-個月結束 2024年9月30日,固定經營租賃費用爲$14,908 和 $44,724,分別。對於 九個月期間-個月結束 2023年9月30日,固定的租賃費用爲$9,939公司的首席執行官是SCP的執行官和董事。

 

2024年7月1日, 公司作爲承租方,與SCP簽署了一份房地產業和建築租賃協議(「SCP房地產業和建築租賃」),租賃位於內華達州銀泉市的房地產及其改進設施。SCP房地產業和建築租賃的期限爲 -年,從 2024年8月1日, 並將自動續租延長 -年期限。根據租約,租金支出爲$70,000 每月$爲 首先 十二 租金支付,$75,000 每月$接下來的 十二 個月和$80,000 在租約的最後一個月,每月爲 三十六 個月,所有租賃付款均被視爲租金費用。根據SCP房地產業和建築租約,租金將開始並保持在$30,000 每月,直到所有必要和要求的許可證獲得,並且操作開始。租賃開始時,SCP房地產業和建築租約被分類爲經營租賃,租期爲 年,基於公司的假設,將選擇延長租約。在 2024年8月1日, 公司記錄了權利使用資產和租賃負債,金額爲$4,567,814 和 $4,567,814,分別以折扣率爲 12.95%.對於 九個月期間-個月結束 截止到2024年9月30日, 固定經營租賃費用爲$145,250對於 九個月期間-個月結束 截至2023年9月30日, 在SCP房地產業和建築租賃上固定的營業租賃費用已被計入公司的費用。公司的首席執行官是SCP的執行官和董事。

 

公司在財務年度內需支付的最低租賃付款,包括公司的運營租賃和融資租賃如下:

 

  

經營租賃

  

融資租賃

 

在2024年的剩餘時間裏

 $107,061  $25,066 

2025

  429,118   490,074 

2026

  431,175    

2027

  433,285    

2028

  406,371    

之後

  4,760,000    

總租賃付款

  6,567,010   515,140 

減:隱含利息

  (1,745,148)   

租賃負債的現值

 $4,821,862  $515,140 

 

經營租賃收入

 

截至 -個月結束 2024年9月30日 2023從我們出租給他人的土地和建築物的經營租賃收入總計$37,200 和 $269,298,分別爲。對於 九個月期間-個月結束 2024年9月30日 2023從租賃給他人的土地和建築物的經營租賃收入總計 $109,125 和 $335,373,分別來自於經營租賃的收入在 , 在滿足1月 Tranche b 支付之後,向持有者支付,直到根據票據第2(e)條款支付的剩餘 未償本金和應計未支付的利息全額支付(“ 的季度 2023 包括$237,473 來自設施的ABTC運營租賃。

 

來自他人的運營租賃的最低租賃付款如下:

 

在2024年的剩餘時間裏

 $24,000 

2025

  96,000 

2026

  96,000 

2027

  96,000 

2028

  96,000 

之後

  192,000 

最低租賃收入總計

 $600,000 

 

18

 
 

注意 8          債務義務

 

債務爲 2024年9月30日 2023年12月31日的合併基本報表及附註中 包括以下內容:

 

  

2024年9月30日

  

2023年12月31日

 

GHF擔保本票 - 12%利率,到期 2026年4月15日

 $4,290,000  $4,290,000 

Alvin基金有限責任公司本票 - 16%利率,到期 2026年4月15日

  2,000,000   2,000,000 

Alvin 基金 LLC 本票 - 12% 利息,到期 2026年4月15日

  2,100,000   2,100,000 

2023 Kips Bay 無擔保可轉換本票 - 8% 利息,到期 2025年3月27日

  505,387   3,157,894 

2024 Kips Bay 無擔保可轉換本票 - 6% 利息,到期 2026年1月19日

  3,723,404    

AQMS應付票據 - 9.76% 隱含利率,到期 2024年12月31日

  250,000   600,000 

總債務

  12,868,791   12,147,894 

減:債務折扣和發行成本

  (1,638,496)  (2,297,172)

總債務,扣除折扣

  11,230,295   9,850,722 

減:流動負債

  (626,044)  (4,495,660)

長期債務,扣除折扣和發行成本後

 $10,604,251  $5,355,062 

 

GHF公司無擔保本票

 

2021年12月15日, 公司與GHF, Inc.("GHF")簽署了一份長期的 promissory note(「GHF Note」), 2021 金額爲$5,000,000, 其中 $4,550,000 已經資金到位,$450,000 爲原始發行折扣(「OID」),本金到期日爲 並允許提前採納。公司計劃在 並且按每年 % 的利率每月支付利息。 6 2022年8月22日, 與GHF 2021 票據相關, 公司向GHF發行了Warrants,允許他們以 $ 200,000 的價格購買公司普通股1.00 (「第一次GHF Warrants」)。第一次GHF Warrants可以在 2024年8月22日之前行使。 2022年12月15日, 與GHF相關, 2021 公司向GHF發行了額外的Warrants,允許他們購買 1,000,000 公司的普通股, 500,000 可在$0.4555 (「第二GHF Warrants」)的價格行使,剩餘的 500,000 可在$的價格行使2.5217 (「第三GHF Warrants」以及與第一GHF Warrants和第二GHF Warrants共同稱爲「GHF Warrants」)。第二GHF Warrants和第三GHF Warrants可以在或之前行使 2024年12月15日之後。 2024年4月22日, 公司與GHF修改了GHF 2021 票據(“修訂後的GHF 2021 票據”)以延長到期時間,從 2024年12月15日 2026年4月15日 並將利率提升至 6% 到 12% 每年。該公司確定修訂後的GHF 2021 票據導致了債務修改並被記錄在 第二, 在滿足12月 Tranche A 支付之後,向 Tranche b 票據的持有者支付一個 等同於並滿足攤銷贖回價格(如 Tranche b 票據中定義)在2025年1月2日到期的總金額(“ 的季度 2024 在債務解除中損失$331,891 在我們的壓縮合並運營報表中。允許在任何時間全額或部分預付款,無需支付溢價或罰金。貸款由公司的所有非礦業相關資產、白銀春天的土地和水權擔保,不包括盧瑟恩和代頓物業。公司須用任何抵押品銷售所得的淨現金收益預付款項。 2021 在銷售任何抵押品時,使用任何淨現金收益預付款項。期間 -個月結束 2024年9月30日 2023公司確認的利息支出爲$129,758 和 $160,188, 分別包括OID攤銷$0 和 $95,309, 分別與GHF相關 2021 注意。在 九個月期間-個月結束 2024年9月30日 2023公司確認的利息支出爲$422,089 和 $475,340分別,包括OID攤銷的$116,028 和 $282,819分別,與GHF相關的 2021 注意。在 2024年4月22日, 公司與GHF還修改了GHF Warrants,其中(i)第一份GHF Warrants和第三份GHF Warrants的行使價格降低至$0.4555,以及(ii) GHF Warrants的到期日被延長至 截至2025年12月31日。 修改GHF Warrants所產生的增量公允價值爲$85,331 並被確認爲債務解除損失的一部分(見註釋 10, 股權).

 

Alvin 基金備註

 

2022年10月25日, 公司簽署了一個短期本票(“阿爾文基金 2022 本票”)與阿爾文基金有限責任公司(「阿爾文基金」),本金金額爲$2,000,000。作爲與阿爾文基金 2022 本票進行交易的對價,公司以公平價值$250,000向阿爾文基金髮行了公司的普通股,這被認定爲阿爾文基金 2022 本票的折扣。根據阿爾文基金的到期日 2022 該說明最初爲 2023年10月25日。 2023年9月30日, 公司與阿爾文基金修訂了阿爾文基金 2022 的說明以延長到期日至 2026年1月31日, 利率爲 16%.利息按月支付,利率爲 9% 年利。於 2024年4月22日, 公司與阿爾文基金對阿爾文基金 2022票據(“修訂後的阿爾文基金 2022 票據”)進行了修訂,以將到期日延長至 2026年1月31日 2026年4月15日。 允許在任何時候全額或部分提前還款,無需支付任何額外費用或罰款。阿爾文基金 2022 該票據由所有通常稱爲代頓物業的財產提供擔保。在 -個月結束 2024年9月30日 2023公司確認的利息支出爲$80,658 和 $108,384, 分別,包括OID攤銷$0 和 $63,014, 分別,與阿爾文基金相關 2022 注意。在九個月期間-個月結束 2024年9月30日 2023公司確認的利息支出爲$240,220 和 $321,617分別包括OID攤銷的$0 和 $186,986分別與Alvin 基金相關 2022 附註。

 

2023年11月12日, 公司與Alvin基金簽署了一份開空票據(“Alvin基金 2023 票據”),本金金額爲$2.1百萬,包括$100,000 OID。全額本金到期日爲 2025年2月12日。 利息按月支付,利率爲 8% 年每年。在 2023年11月12日, 與Alvin 基金相關, 2022 公司向Alvin 基金髮行了Warrants,允許他們以$ 1,000,000 每股購買公司普通股,0.70 (「Alvin 基金Warrants」)。Alvin 基金Warrants可在 2025年11月12日或之前行使。 2024年4月22日, 公司與阿爾文基金修訂了阿爾文基金 2023票據(“修訂後的阿爾文基金 2023票據”)以延長到期日,從 2025年2月12日 到2026年4月15日 並將利率提高至 8% 到 12% 年百分比。公司確定修訂後的阿爾文基金 2023票據導致了債務修改,並記錄在 第二, 在滿足12月 Tranche A 支付之後,向 Tranche b 票據的持有者支付一個 等同於並滿足攤銷贖回價格(如 Tranche b 票據中定義)在2025年1月2日到期的總金額(“ 的季度 2024 我們的合併財務報表中債務解除損失$189,731 可以在任何時候全額或部分提前還款,無需支付溢價或罰金。阿爾文基金 2023 票據以公司的非礦業資產作爲擔保。在 -個月結束 2024年9月30日 2023公司確認的利息支出爲$64,208 和 $0, 分別包括OID攤銷的$0 和 $0與Alvin基金相關,分別爲 2023 註釋。在九個月期間-個月結束 2024年9月30日 2023公司確認的利息支出爲$226,310 和 $0,分別,包括OID攤銷$62,913 和 $0,分別與Alvin 基金有關 2023注意。 在 2024年4月22日, 公司和Alvin 基金還修訂了Alvin 基金Warrants,降低了行使價格至$0.4555並將到期日延長至 截至2025年12月31日。 根據對Alvin基金Warrants的修訂而產生的增量公允價值爲$22,900 並作爲債務解除損失的一部分被確認(見註釋 10, 股權). 

 

19

 

 

Leviston資源公司 無擔保可轉換票據

 

2024年7月19日, 公司簽訂了一份證券購買協議(“2024 「Leviston協議」)與Leviston Resources LLC("Leviston")簽署了一份金額爲$的無擔保可轉換票據(「Leviston票據」),2,717,500其中$2,500,000 已籌集,$217,500 爲原始發行折扣。全額本金於 2025年10月31日到期。 利息按每月支付,年利率爲 8%。公司可以在交割後的 30天內以 125面值的百分之,外加應計利息。

 

根據協議,於 2024年8月6日, 公司發行了總計 844,468 股普通股(337,787 受限制的和 506,681 註冊的)總值爲$135,875 作爲貸款承諾費,支付給Leviston。

 

Leviston票據包含基於交易價格和定義的測量週期內的交易量百分比的轉換條款。這些條款要求將轉換選項分拆爲衍生工具。截止到 2024年7月19日, 公司分拆了轉換特徵,並記錄了一項衍生負債,附帶相應的債務折扣增加$1,210,000反映在我們的合併資產負債表中。該衍生工具的估值使用蒙特卡羅估值模型,轉換價格等於以下兩者中的較低者:(i) 收盤日價格乘以 150% 或 (ii) 80% 的最低歷史 10 日加權平均價格,折現率爲 35%,無風險利率爲 4.65%,以及波動性爲 79.0%。在 九個月期間-個月結束 截止到2024年9月30日, 公司確認利息費用爲$75,452 包括OID攤銷的$59,370 與Leviston票據相關。

 

截至 2024年9月30日該公司交付了 24,680,175 普通股的3,957,052每股平均轉換價格爲$0.16在轉換的本金餘額爲$2,717,500和應計利息爲$16,082截至 2024年9月30日列維斯頓備註已完全轉換。

 

在債務轉換中確認的損失如下:九個月期間-個月結束 2024年9月30日計算如下:

 

本金轉換

 $2,717,500 

與本金轉換相關的債務折扣

  (1,524,006)

應付的應計利息轉換

  16,082 

衍生負債轉換

  1,080,000 

總計

  2,289,576 

發行股票的公平價值

  3,957,052 

債務轉換損失

 $(1,667,476)

 

Kips Bay Select LP 無擔保 2023 可轉換票據

 

2023年12月27日, 公司與Kips Bay Select LP("Kips Bay")簽署了一份無擔保可轉換 promissory note( "2023 Kips Bay Note"),本金爲$5,263,157, 其中 $263,157 是一個OID。全部本金到期日爲 2025年3月27日。 利息按每月支付,利率爲 8% 每年。公司收到了 $3.0 百萬在 2023年12月27日 並在2.0 百萬上 2024年1月27日收到了。

 

2023 Kips Bay的通知要求公司支付一筆貸款承諾費,金額爲$250,000 以公司普通股的形式支付。截至 2023年12月31日, 公司在合併資產負債表上記錄了一筆應付股票,金額爲$150,000 作爲非流動其他負債。該金額被確認爲便籤的額外折扣。在 2024年1月11日, 公司向其董事發行了 308,931 限制性股份等於其普通股的 3%的本金金額 2023 Kips Bay票據,或$157,895 每月$0.511 每股 2024年1月16日, 公司發行了額外的 180,210 註冊股份,相等於其價值 1.75%的額外$2.0百萬的本金金額 2023 Kips Bay票據,或$92,105,也在$0.511 每股。

 

2023 Kips Bay Note包含基於規定計量週期的交易價格和交易量百分比的轉換條款。條款要求將轉換選項分拆爲衍生品。 截至 2024年9月30日,以及 2023年12月31日的合併基本報表及附註中,公司與此轉換選項相關的衍生負債餘額爲$10,000 和 $1,360,000,分別,反映在我們的簡明合併資產負債表中。在 -個月結束 2024年9月30日 2023公司確認的利息支出爲$154,789 和 $0分別包括OID攤銷 $128,526 和 $0與...相關的,分別是, 2023 Kips Bay 說明。 在...九個月期間-個月結束 2024年9月30日 2023公司確認的利息支出爲$980,498 和 $0分別包括OID攤銷的$792,985 和 $0分別與之相關的 2023 Kips Bay票據。

 

2024年7月19日, 公司贖回了$500,000 的本金 202310%贖回溢價,現金總額爲$550,000 在此期間。 九個月期間-個月結束 2024年9月30日公司確認債務解除損失爲$222,634.

 

截至 2024年9月30日公司交付了 22,412,980普通股股票,公允價值爲$5,566,817每股的平均轉換價格爲$0.25在轉換本金餘額$時4,263,908以及應計利息$181,854 (見說明 15, 後續事件).

 

認定的債務轉股損失如下: 九個月期間-個月結束 2024年9月30日 計算方法如下:
 

本金轉換

 $4,263,908 

與本金轉換相關的債務折扣

  (1,627,354)

應付的應計利息轉換

  181,854 

衍生負債轉換

  725,125 

總計

  3,543,533 

發行股票的公平價值

  5,566,817 

債務轉換損失

 $(2,023,284)

 

Kips Bay Select LP 無擔保 2024 可轉換票據

 

2024年9月19日, 公司簽訂了證券購買協議(“2024 Kips Bay協議)以獲得一張無擔保可轉債的本票( “2024 Kips Bay本票)與Kips Bay,面額爲$5,319,149,其中$319,149 爲原始發行折扣。全額本金到期日爲 2026年1月19日。 利息按每月支付,年利率爲 6% 2024年9月19日, Kips Bay首次融資金額爲$3,500,000這將導致總本金金額爲$3,723,404 ($3,500,000 現金加上原始發行折扣$223,404)。在 2024年10月30日, 公司 可能 選擇申請額外的資金 $1,500,000, 這將導致該部分的本金金額爲 第二, 在滿足12月 Tranche A 支付之後,向 Tranche b 票據的持有者支付一個 等同於並滿足攤銷贖回價格(如 Tranche b 票據中定義)在2025年1月2日到期的總金額(“ $1,595,745 ($1,500,000 現金加上 $95,745 的原始發行折扣)。公司可以贖回 2024 Kips Bay現金票據 30-在交易結束後的天數 120%的面值,加上應計利息。該票據要求公司支付貸款承諾費$186,170 以其普通股的形式。截止到 截止到2024年9月30日, 公司在簡明合併資產負債表中記錄了$的股票應付賬款,186,170 該金額被確認爲票據的額外折扣。

 

20

 

2024 Kips Bay Note包含基於定義測量期間的交易價格和交易量百分比的轉換條款。條款要求將轉換選項作爲衍生品進行分拆。至 2024年9月19日, 公司已將轉換特徵分拆,並記錄了一項衍生負債,同時增加了相應的債務折扣$1,120,000 反映在我們的合併資產負債表中。該衍生品的估值使用了蒙特卡洛估值模型,轉換價格等於 88%的 日均加權價格,折現率爲 35%,無風險利率爲 3.75%,波動率爲 78.0%。在 九個月期間-個月結束 截止到2024年9月30日, 公司確認的利息支出爲$41,733 幷包括OID攤銷爲$35,001 與以下相關的 2024 Kips Bay票據。

 

Aqua Metals Inc. 注意事項

 

2023年12月19日, Comstock Inc.、LINICO 和 Aqua Metals Inc.("AQMS")簽訂了一項股票回購協議,公司同意購買,AQMS 同意賣出其在 LINICO 的股份,價格爲$600,000。對價以 十二 分期支付,每期$50,000首先 到期付款爲 2024年1月31日, 而下一個 十一 到期付款將在接下來的 十一 月份的最後一天到期。由於付款是 有利息的,軸承公司計算了未來現金支付的隱含利息,金額爲 $33,673 ,使用的利率爲 9.76% 被記錄爲協議上的折扣,並將在付款期限內予以確認。在 -個月結束 2024年9月30日 2023公司確認的利息支出爲$6,797 和 $0, 分別與AQMS應付票據相關。在九個月期間-個月結束 2024年9月30日 2023公司確認的利息支出爲$29,921 和 $0與AQMS應付票據相關,分別。

 

Ionic Ventures LLC 無擔保可轉換債券

 

2022年12月16日, 公司與Ionic Ventures, LLC(「Ionic」)簽訂了一份無擔保可轉換票據(「Ionic Note」)的證券購買協議,票據面值爲$3,150,000, 其中 $2,975,000 獲得資金爲$175,000 爲OID。全額本金到期日期爲 2024年3月16日。 利息按每月支付,利率爲 8% 每年。離子票據包含基於特定計量週期的交易價格和交易量的轉換條款。離子票據要求將轉換選項作爲衍生品進行拆分。

 

截至 2023年9月30日, 公司交付了 9,309,375 普通股的4,499,598 每股的平均替代轉換價格爲$0.48本金餘額爲$3,150,000 和應計利息爲$103,912在此期間 九個月期間-個月結束 2023年9月30日, 公司在債務轉換中記錄了收益 $289,512 和 $51,856轉換條款要求一個測量期限爲 在此期間,初始轉換的股份數量會根據交易量的變化進行調整。根據此條款, 2023年4月6日, Ionic退回了 327,549 在早期轉換中發行的公司普通股的多餘股份。在此期間, 九個月期間-個月結束 2023年9月30日, 公司確認了利息費用爲$35,468 和 $285,772,分別包括OID攤銷$22,357 和 $189,938,分別與Ionic Note相關。Ionic Note已完全轉換爲 2023.

 

注意 9         承諾和或有事項

 

COMSTOCk礦物財產租賃支付

 

我們租賃某些礦權和物業,租約在不同日期到期。 2040. 根據這些現有租約,未來最低年度租賃支付,包括權利金和租金,金額如下: 2024年9月30日:

 

年份

 

租賃

 

2024年剩餘時間

 $27,550 

2025

  111,000 

2026

  151,000 

2027

  151,000 

2028

  151,000 

之後

  1,361,250 

最低年度租賃付款總額

 $1,952,800 

 

我們在某些礦產資產和租賃上有最低的特許權使用費義務。對於大多數礦產資產和租賃,我們的特許權使用費義務區間與生產開始的程度有關。這些特許權使用費爲 0.5% 到 5%的淨回報(NSR),來自於這些資產上提取的礦產,大部分在 3%以下。一些會影響特許權使用費金額的因素包括提取的金屬盎司數和提取金屬的價格。

 

我們的採礦和勘探活動受到各種法律法規的約束,這些法律法規專門針對環境保護。這些法律法規不斷變化,通常變得更加嚴格。公司相信其運營在所有重大方面均符合適用的法律法規。公司已經進行了,並預計未來還會進行支出以遵守這些法律法規,但無法預測未來支出的全部金額。

 

RENFUEL 許可證付款
 

2023年10月11日, 2023年12月22日, 公司與RenFuel簽署了獨家許可協議,根據該協議,RenFuel授予公司全資子公司Comstock Fuels Corporation(「Comstock Fuels」)在北美、中美和南美使用RenFuel的專利催化酯化及相關技術的獨家許可,以換取根據合格產品的生產和銷售支付的持續特許權使用費。公司需要每季度至少花費$250,000 在商業上合理的研究、開發和商業化活動上,預計從 2024年1月1日起。 截至 2024年9月30日,這一承諾已通過對RenFuel的進展得以滿足(見註釋 3, 應收賬款和預付款,淨額).

 

21

 

對許可科技的投資

 

2024年3月1日, Comstock與開發者簽訂了DSA,以推進Comstock子公司擁有的技術,這些技術包含開發者擁有的知識產權(「開發者知識產權」)的應用。DSA的範圍涉及研究和開發,以驗證Comstock知識產權和開發者知識產權的集成應用,包括僅涉及開發者知識產權的基礎應用。DSA要求工作分階段完成, 首先 階段(“階段 1”)由 項目組成, 九個月期間 months at a cost to Comstock of $116,900 per month, or $1,052,100 in total. Current estimates for the next projects in the 第二, 在滿足12月 Tranche A 支付之後,向 Tranche b 票據的持有者支付一個 等同於並滿足攤銷贖回價格(如 Tranche b 票據中定義)在2025年1月2日到期的總金額(“ phase of work under the DSA (“Phase 2”) 包括 $116,900 每月額外 個月,或者 $701,400 總共 $,包括 $321,160 設備和供應品在第 1 階段購買的剩餘付款,將在第 2. 對於 九個月期間-個月結束 2024年9月30日,公司記錄了$350,700 和 $818,300,分別作爲在簡明合併財務報表中的研發費用。階段 2 在收集和評估階段數據後,估算可能會出現上行變化。 1. 該估算適用於超出階段的工作。 2 目前,DSA考慮在初始期內繼續進行研究和開發合作。 每個工作階段都通過詳細的範圍定義,最終形成具體、可衡量、可實現、相關和及時的里程碑和決策點。階段下的工作。 2 在滿足階段完成的條件後,不能在沒有Comstock發出的書面開始通知的情況下發生。 1 基於所述的里程碑和決策點。階段 2 開始通知還不能發出,直到階段的詳細項目計劃最終確定並得到Comstock和開發者的批准。 2 階段

 

2024年3月1日, 開發者授予公司一項獨佔許可,以使用開發者的知識產權生產燃料(「燃料許可證」)和水(「水許可證」,與燃料許可證合稱爲「Comstock許可證協議」),以換取基於合格產品生產和銷售的版稅費用。Comstock許可證協議還要求公司支付最低版稅費用,金額爲$20,000 在發生的較早事件上, 240 收到開發者的知識產權專利後的天數,以及,在 2025年2月15日, 以及此後每年,(i)$10,000 在第 12, (ii) $25,000 在年 34, 和 (iii) $75,000 在年 5 及其後。公司還同意支付某些未結和未來的專利費用,以及爲每個新專利申請支付的新專利申請費用,這些專利權源自開發者獨立創建的專利 ($10,000) 或與公司共同申請 ($5,000)。水權的範圍是獨佔的,除非Comstock選擇 在完成階段後,每個日歷季度至少投資100,000 美元 1. 根據DSA和Comstock許可協議支付給開發者的所有金額,將抵扣未來在Comstock許可協議下應支付的特許權使用費。Comstock許可協議規定,Comstock開發的新知識產權源自開發者知識產權,將被轉讓給開發者。截止到 2024年3月1日, 公司的一個高管和一名員工(「Comstock發明者」)發明了源自開發者知識產權的新發展(「Comstock開發者發明」)。Comstock發明者將Comstock開發者發明轉讓給Comstock,然後Comstock再將Comstock開發者發明轉讓給開發者。儘管Comstock在之後對開發者知識產權的新發展 2024年3月1日, 需要被分配給開發者以便於 額外考慮,開發者同意向公司支付相當於 20% 的任何通過開發者使用和再許可Comstock開發者發明所產生的吞吐量的技術使用費。

 

其他

 

每年,公司向每位獨立董事支付總額爲$160,000 的現金和基於股票的補償,並加上主席和委員會會議費用,每位獨立董事還會獲得$60,000的現金保留費。每個委員會的主席將額外獲得$20,000 的年薪。對於-個月結束 2024年9月30日 2023公司確認了袍金用支出爲$250,000 和 $360,275分別爲。對於九個月期間-個月結束 2024年9月30日 2023公司確認了袍金用支出爲$675,000 和 $606,825,分別。截止到 2024年9月30日 2023年12月31日的合併基本報表及附註中,包含在壓縮合並資產負債表中的袍金用賠償爲$162,500 和 $87,500,分別。截止到 2024年9月30日 2023年12月31日, 公司累計了$875,000 和 $500,000,分別與在中獲得的股票基礎薪酬相關的袍金補償, 20232024 預計將在中發行 2024 並且按年支付,包含在合併資產負債表的長期負債中。

 

我們不時會涉及在正常業務過程中產生的索賠和訴訟。 我們目前有一些事項待決,我們預計這些事項將對我們的業務、運營成果、財務控制項或現金流產生重大不利影響。

 

22

 
 

注意 10         股本

 

發行註冊普通股

 

2024年8月6日, 根據 2024 Leviston協議,公司向Leviston發行506,681 註冊股份,公允價值爲$81,525,代表公司普通股 3%的Leviston票據的本金金額,基於每股價格等於 20-日VWAP,從 10日 收盤日之前的交易日以及結束於 10日 收盤日之後的交易日(「VWAP期間」) 額外補償(見註釋 8, 債務義務). 

 

2024年3月25日, 公司與ClearThink Capital Partners LLC(「ClearThink」)簽訂了股權購買協議(“2024 「ClearThink協議」)以提供並出售公司受限制和註冊的普通股,整體發行價格最高可達$5.0 百萬,隨時根據我們的選擇,在我們認爲合適的條款下進行。於 2024年3月26日, 公司向S-登記聲明提交了補充招股說明書。3, 日期 2022年3月28日, 根據 這些股票的轉售登記, 2024 ClearThink協議。截止到 2024年9月30日,公司發行了 20,787,773 ClearThink的已註冊普通股,合計銷售價格爲$4,250,000每股平均價格爲$0.20 2024年7月18日, 公司決定終止根據 2024 ClearThink協議進行的所有未來報價和銷售,公司提交了補充招股說明書,以反映證券的總髮行美元金額減少,5,000,000 到$4,250,000從$ 2024 因此, ClearThink協議截至 2024年9月30日

 

2024年1月16日, 公司發行了額外的 180,210 註冊股份,相等於其價值 1.75% 的Kips Bay票據本金金額,或$92,105,也在$0.511 每股 (見備註 8, 債務義務).

 

2023年2月13日, 公司與Leviston簽訂了一份股權購買協議(“2023 「Leviston銷售協議」),以提供和出售註冊普通股,總髮行價格最高可達$5.0 百萬,按照我們認爲合適的條款,隨時可以選擇。截止至 2023年12月31日, 公司向其董事發行了 10,892,604 向Leviston根據公司的S-表格註冊普通股3 向美國證券交易委員會提交的,總代售價格爲$5.0百萬,平均每股價格爲$0.46,以及額外的 552,486 普通股的公允價值爲$200,000 作爲承諾費用。截止於 2024年9月30日2023 Leviston銷售協議已經 剩餘容量和 根據此協議進行的銷售在 2024.

 

2022年6月21日, 公司與Tysadco Partners, LLC(「Tysadco」)簽訂了一份股權購買協議( “2022 「Tysadco銷售協議」)以提供和出售註冊的普通股,累計發行價格最高可達$10.0 百萬,根據我們的選擇,隨時按我們認爲有利的條款進行。任何提供和出售給Tysadco的股票均已根據美國證券交易委員會提交的S-1 表格註冊聲明進行轉售,依據《證券法》 1933 (「證券法」)。公司在與此類銷售相關的交易中支付給安置代理的佣金等於 5%的發行收益。截至 2023年12月31日, 公司向其董事發行了 7,897,838 將普通股股份出售給Tysadco,銷售總價爲$3,000,000 每股平均價格爲$0.38對於九個月期間-個月結束 2024年9月30日,公司發行了 3,318,014 以總銷售價格向Tysadco出售普通股票1,213,710以每股平均價格0.37普通股的銷售,如果有的話,依據 2022 Tysadco銷售協議是在 10以普通股的成交量加權平均銷售價格的折扣來進行的,公司收到資本要求時爲 2024年9月30日2022 Tysadco銷售協議有 剩餘容量。

 

發行未經註冊的普通股股票

 

2024, 公司發行了 1,388,766 股份的未註冊限制普通股,公允價值爲$384,241以現金支付作爲Alvin基金項下的利息 2022 匯票和Alvin基金 20232023, 公司發行了 345,110 股份的未註冊限制普通股,公允價值爲$152,877 作爲對Alvin基金的利息現金支付的替代,轉至Alvin基金有限公司。 2022 票據。 

 

2024年9月3日, 公司向其董事發行了 2,920,702 未註冊的限制性普通股的公允價值爲$482,500 作爲根據北康斯托克運營協議到期義務的支付,支付給北康斯托克有限責任公司。

 

2024年8月16日, 公司向其董事發行了 5,000,000 以$向單一投資者出售限制性未註冊普通股1,000,000 現金。

 

2024年8月6日, 根據 2024 Leviston協議,公司向Leviston資源有限責任公司(「Leviston」)發行了 337,787 限制性股票,公允價值爲$54,350,代表公司的普通股 2%的Leviston票據本金,基於每股價格等於 20VWAP期間的-日VWAP 附加考慮(見註釋 8, 債務義務). 

 

2024年5月22日, 公司向其董事發行了 1,250,000 以$向我們首席執行官發行公司的限制性普通股,500,000 以現金(見註釋 14, 關聯方交易).

 

2024年4月19日, 公司向其董事發行了 1,000,000 向單一投資者發行股份的受限未註冊普通股,價格爲$250,000 現金。

 

2024年4月19日, 公司向其董事發行了 561,010 公司限制性普通股的公允價值爲$162,693 支付給一家專業服務公司,與公司營銷服務協議相關的對價。

 

2024年4月11日, 根據與海伍德租賃相關的修訂,公司發佈了 1,500,000 股普通股,公允價值爲$509,850 (見說明 7, 租賃).

 

2024年4月10日, 根據ASt許可協議修正案,公司向ASt發行了 4,975,000 股份,公允價值爲$1,587,025 (見說明 7, 租賃).

 

2024年3月27日, 公司向其董事發行了 250,000 公平價值爲$的未註冊限制普通股85,000 作爲支付承諾費用的ClearThink 2024 協議。

 

2024年1月11日, 公司向其董事發行了 308,931 限制性股份等於其普通股的 3% 的Kips Bay票據本金金額,或$157,895 每月$0.511 每股 (見備註 8, 債務義務).

 

2023年8月25日, 公司向其董事發行了 963,074 公允價值爲$的未登記限制普通股,482,500 作爲對Northern Comstock經營協議項下到期義務的支付,向Northern Comstock LLC支付。

 

23

 

2023年2月14日, 公司向其董事發行了 410,959 以公允價值的未註冊限制普通股支付$150,000 作爲對Leviston盡職調查費用的支付, 2023 根據Leviston銷售協議。

 

非控制性權益

 

2021年12月30日, 公司與LINICO達成協議,購買額外的LINICO股份,使公司擁有大約 90%的控股權。而剩餘的 10%的所有權由AQMS持有(見注 14, 關聯方交易)並在我們的合併基本報表中作爲非控股權益進行覈算。於 2023年12月19日, 公司、LINICO和AQMS簽署了一份股票贖回協議,AQMS將其LINICO股份以美元出售給LINICO600,000擁有權比例的增加和非控股權益的減少導致公司的額外實收資本增加了美元3,758,807 在截至的年份 2023年12月31日。 截至 2024年9月30日 以及 2023年12月31日,公司擁有 100% 的LINICO。

 

2023年3月1日, Comstock Metals Corporation(「Comstock Metals」)是本公司的全資子公司,已與富圖納託·維拉馬尼亞博士簽訂了僱傭協議,擔任Comstock Metals的總裁。根據該協議,維拉馬尼亞博士將獲得 20%的Comstock Metals股權,均勻歸屬,在一個 -年期間,自 2023年3月1日起 2028年3月1日, 預計公平價值的股權獎勵總額爲$863,000 由Villamagna博士持有。在 2024年3月1日, 首先 分批歸屬,減少公司在Comstock金屬期貨中的持股比例至 96%,並持有非控制性權益 4%.截至 2024年9月30日 2023年12月31日, 該公司擁有 96% 100% 的Comstock金屬期貨,分別。

 

For the year ended December 31, 2023, the Company recognized share-based compensation of $143,833 associated with the agreement with Dr. Villamagna. During the three and nine-months ended September 30, 2024, the Company recognized share-based compensation of $43,150 and $129,450, respectively. At September 30, 2024, unamortized stock-based compensation for the equity award was $589,717 and will be amortized over the remaining vesting term of 3.50 years.

 

Treasury Stock

 

At December 31, 2023, treasury stock included 2,605,322 shares of our common stock with carrying value of $3,360,867. On January 5, 2024, the Company retired and cancelled the treasury stock.

 

Warrants

 

Outstanding warrants at September 30, 2024 and  December 31, 2023 are as follows:

  

Number of Warrants

  

Exercise Price

  

Expiration Date

GHF, Inc.

  200,000  $0.4555  

December 31, 2025

GHF, Inc.

  500,000  $0.4555  

December 31, 2025

GHF, Inc.

  500,000  $0.4555  

December 31, 2025

Alvin Fund LLC

  1,000,000  $0.4555  

December 31, 2025

Total Outstanding warrants

  2,200,000       

 

During the nine-months ended September 30, 2024 and 2023, no warrants to purchase common stock were issued, exercised, or expired. During the second quarter 2024, the warrants were modified in connection with amendments to related debt agreements (see Note 8, Debt Obligations). 

 

NOTE 11         FAIR VALUE MEASUREMENTS

 

The following table presents our assets and liabilities measured at fair value on a recurring basis at September 30, 2024:

      

Fair Value Measurements at

 
      

September 30, 2024

 
      

Quoted

  

Significant

     
      

Prices

  

Other

  

Significant

 
      

in Active

  

Observable

  

Unobservable

 
      

Markets

  

Inputs

  

Inputs

 
  

Total

  

(Level 1)

  

(Level 2)

  

(Level 3)

 

Assets:

                

Haywood derivative

 $428,850  $  $428,850  $ 

Stock held by GenMat advances (see Note 3)

  1,188,862      1,188,862    

Total assets measured at fair value

 $1,617,712  $  $1,617,712  $ 
                 

Liabilities:

                

2023 Kips Bay convertible debt derivative

 $10,000  $  $  $10,000 

2024 Kips Bay convertible debt derivative

  1,240,000         1,240,000 

Total liabilities measured at fair value

 $1,250,000  $  $  $1,250,000 

 

The following table presents our liabilities measured at fair value on a recurring basis at  December 31, 2023:
      

Fair Value Measurements at

 
      

December 31, 2023

 
      

Quoted

  

Significant

     
      

Prices

  

Other

  

Significant

 
      

in Active

  

Observable

  

Unobservable

 
      

Markets

  

Inputs

  

Inputs

 
  

Total

  

(Level 1)

  

(Level 2)

  

(Level 3)

 

Liabilities:

                

2023 Kips Bay convertible debt derivative

 $1,360,000  $  $  $1,360,000 

LINICO related derivative

  2,383,162      2,383,162    

Haywood derivative

  875,000      875,000    

GenMat derivative

  781,966      781,966    

Total liabilities measured at fair value

 $5,400,128  $  $4,040,128  $1,360,000 

 

24

 

Changes in the assets and liabilities that include level 3 inputs the following:

 

 

During the three and nine-months ended September 30, 2023, the Company recognized a gain of $76,667 and a loss of $1,099,587, respectively, for the change in fair value of the Ionic conversion option derivative. During the three and nine-months ended September 30, 2023, $523,333 and $1,519,587, respectively, of the derivative liability was converted.

 

During the three and nine-months ended September 30, 2024, the Company recognized a gain of $404,794 and $1,460,875 respectively, for the change in fair value of the 2023 Kips Bay conversion option derivative. On January 27, 2024, the Company recorded an additional $836,000 associated with the additional borrowings under the Kips Bay Note. During three and nine-months ended September 30, 2024, $55,206 and $725,125, respectively, of the derivative liability was converted.

 During the three and nine-months ended September 30, 2024, the Company recognized a gain of $130,000 for the change in fair value of the Leviston conversion option derivative. On July 19, 2024, the Company recorded $1,210,000 associated with the derivative liability. During three and nine-months ended September 30, 2024, $1,080,000 of the derivative liability was converted.  As of September 30, 2024, the Leviston Note was fully converted
 During the three and nine-months ended September 30, 2024, the Company recognized a loss of $120,000 for the change in fair value of the 2024 Kips Bay conversion option derivative. During three and nine-months ended September 30, 2024, $0 of the derivative liability was converted and on September 19, 2024, the Company recorded an additional $1,120,000 associated with the derivative liability. 
 
VALUATION METHODOLOGIES

  

Following is a description of the valuation methodologies used for the Company's financial instruments measured at fair value on a recurring basis as well as the general classification of such instruments pursuant to the valuation hierarchy.

 

Derivatives

 

The Company has several derivatives associated with its common stock including make-whole commitments and debt conversion options. The following tables presents changes in our derivative liabilities for the three and nine-months ended September 30, 2024 and 2023, at fair value:

 

  

For the Three-Months Ended September 30, 2024

 
  

As of June 30, 2024

  

(Additions) Deductions

  

Change in Fair Value

  

Payments for Decrease in Contractual Stock Consideration

  

As of September 30, 2024

 

2023 Kips Bay convertible debt derivative

 $(470,000) $55,206  $404,794  $  $(10,000)

Leviston convertible debt derivative

     (130,000)  130,000       

2024 Kips Bay convertible debt derivative

     (1,120,000)  (120,000)     (1,240,000)

LINICO related derivative

  (3,252,429)  3,243,853   8,576       

Haywood derivative

  (678,150)     927,000   180,000   428,850 

Total derivative assets and liabilities measured at fair value

 $(4,400,579) $2,049,059  $1,350,370  $180,000  $(821,150)

 

  

For the Nine-Months Ended September 30, 2024

 
  

As of December 31, 2023

  

(Additions) Deductions

  

Change in Fair Value

  

Payments for Decrease in Contractual Stock Consideration

  

As of September 30, 2024

 

2023 Kips Bay convertible debt derivative

 $(1,360,000) $(110,875) $1,460,875  $  $(10,000)

Leviston convertible debt derivative

     (130,000)  130,000       

2024 Kips Bay convertible debt derivative

     (1,120,000)  (120,000)     (1,240,000)

LINICO related derivative

  (2,383,162)  3,243,853   (860,691)      

Haywood derivative

  (875,000)  409,850   594,000   300,000   428,850 

GenMat derivative

  (781,966)  (694,970)  (687,428)  2,164,364    

Total derivative assets and liabilities measured at fair value

 $(5,400,128) $1,597,858  $516,756  $2,464,364  $(821,150)

 

  

For the Three-Months Ended September 30, 2023

 
  

As of June 30, 2023

  

(Additions) Deductions

  

Change in Fair Value

  

Payments for Decrease in Contractual Stock Consideration

  

As of September 30, 2023

 

Ionic convertible debt derivative

 $(600,000) $523,333  $76,667  $  $ 

LINICO related derivative

  (3,278,162)     (1,120,000)  625,000   (3,773,162)

Haywood derivative

  (605,000)     (480,000)     (1,085,000)

GenMat derivative

  (3,303,172)     (845,843)  1,500,000   (2,649,015)

Total derivative liabilities measured at fair value

 $(7,786,334) $523,333  $(2,369,176) $2,125,000  $(7,507,177)

 

25

 
  

For the Nine-Months Ended September 30, 2023

 
  

As of December 31, 2022

  

(Additions) Deductions

  

Change in Fair Value

  

Payments for Decrease in Contractual Stock Consideration

  

As of September 30, 2023

 

Ionic convertible debt derivative

 $(420,000) $1,519,587  $(1,099,587) $  $ 

LINICO related derivative

  (6,053,162)     455,000   1,825,000   (3,773,162)

Haywood derivative

  (1,480,000)     195,000   200,000   (1,085,000)

GenMat derivative

  (6,592,638)     343,623   3,600,000   (2,649,015)

Total derivative liabilities measured at fair value

 $(14,545,800) $1,519,587  $(105,964) $5,625,000  $(7,507,177)

 

At September 30, 2024, December 31, 2023 and September 30, 2023, the fair value of the LINICO, the Haywood Property, and GenMat derivatives was based on a trading price of the Company’s shares of $0.47, $0.55 and $0.41, respectively.

 

2023 Kips Bay Select LP Conversion Option

 

On December 27, 2023, the Company recorded a derivative liability on the consolidated balance sheets in connection with the 2023 Kips Bay Note. On that date, the $1,360,000 fair value of the derivative liability was determined based on bifurcation of the derivative conversion option from the 2023 Kips Bay Note. On January 27, 2024, the Company recorded an additional $836,000 associated with the additional borrowings under the 2023 Kips Bay Note (see Note 8, Debt Obligations). At December 31, 2023, the derivative was valued using a Monte Carlo valuation model with a conversion price equal to 90% of the average price capped at $1.00, discount rate of 35%, risk free rate of 4.54%, and volatility of 96.0%. For debt conversions occurring during 2024 and for the valuation at September 30, 2024, the derivative was valued using a Monte Carlo valuation model with a conversion price equal to 90% of the average price capped at $0.88, discount rate range of 35% to 35%, risk free rate range of 4.30% to 5.13%, and volatility range of 61.0% to 96%. During three and nine-months ended September 30, 2024, $55,206 and $725,125, respectively, of the derivative liability was decreased in connection with the conversion of the related debt into shares of common stock. The derivative liability was classified within Level 3 of the valuation hierarchy.

 

2024 Kips Bay Select LP Conversion Option

 

On September 19, 2024, the Company recorded a derivative liability on the condensed consolidated balance sheets in connection with the 2024 Kips Bay Note (see Note 8, Debt Obligations). On that date, the $1,120,000 fair value of the derivative liability was determined based on the bifurcation of the derivative conversion option from the 2024 Kips Bay Note. The derivative was valued using a Monte Carlo valuation model with a conversion price equal to 88% of the seven day minimum VWAP, discount rate of 35%, risk free rate of 3.75%, and volatility of 78.0%. At  September 30, 2024, the derivative was valued using a Monte Carlo valuation model with a conversion price equal to 88% of the seven day minimum VWAP, discount rate of 35%, risk free rate of 3.81%, and volatility of 81.0%. During three and nine-months ended September 30, 2024, $0 of the derivative liability was converted. The derivative liability was classified within Level 3 of the valuation hierarchy.

 

Leviston Resources LLC Conversion Option

 

On July 19, 2024, the Company recorded a derivative liability on the condensed consolidated balance sheets in connection with the Leviston Note (see Note 8, Debt Obligations). On that date, the $1,210,000 fair value of the derivative liability was determined based on the bifurcation of the derivative conversion option from the Leviston Note. For debt conversions occurring during third quarter of 2024, the derivative was valued using a Monte Carlo valuation model with a conversion price equal to the lower of (i) the closing day price times 150% or (ii) 80% of minimum historical 10 day VWAP, discount rate range of 35% to 35%, risk free rate range of 4.33% to 4.65%, and volatility range of 70.0% to 79.0%. During three and nine-months ended September 30, 2024, $1,080,000 of the derivative liability was decreased in connection with the conversion of the related debt into shares of common stock. At September 30, 2024, the Leviston Note was fully converted. The derivative liability was classified within Level 3 of the valuation hierarchy.

 

GenMat Derivative Instrument

 

On June 24, 2021, the Company recorded a derivative asset on the condensed consolidated balance sheets in connection with the GenMat Membership Interest Purchase Agreement. On that date, the $530,000 fair value of the derivative asset was determined based on the excess of the fair value of 3,000,000 shares of our common stock issued to and held by GenMat over the $10,000,000 contractual stock consideration required under the agreement. The value of the shares was based on the $3.51 closing price per share of our common stock on that date. At December 31, 2023, the fair value of Comstock’s shares held by GenMat of 2,513,451 shares was based on the closing price per share of our common stock of $0.55 with a fair value of the derivative liability of $781,966. On May 17, 2024, Comstock fulfilled our initial funding requirements of $15.0 million which satisfied the make-whole provision and first investment tranche and removed the requirement to account for the commitment as a derivative. The derivative liability was classified in Level 2 of the valuation hierarchy.

 

Haywood Derivative Instrument

 

On April 7, 2022, we recorded a derivative asset on the consolidated balance sheets in connection with the Haywood acquisition and lease from Haywood (see Note 7, Leases). On that date, the $245,000 fair value of the derivative asset was determined based on the excess of the fair value of 1,500,000 shares of our common stock issued to and held by Haywood and a deposit of $50,000 over the initial $2,100,000 contractual stock consideration required under the agreement. The agreement was amended in 2024 (see Note 7, Leases) increasing the commitment by $100,000 from $2.1 million to $2.2 million. During the nine-months ended  September 30, 2024 and the year-ended  December 31, 2023, the Company paid Haywood $300,000 and $200,000, respectively, which resulted in a decrease in contractual stock consideration. On April 11, 2024, the Company issued an additional 1,500,000 shares of our common stock issued to and held by Haywood with a fair value of $509,850 at the closing price of $0.34 (see Note 7, Leases). At September 30, 2024, the fair value of the 3.0 million shares was based on the closing price per share of our common stock of $0.47 and the fair value of the derivative asset was $428,850. The derivative liability is classified within Level 2 of the valuation hierarchy.

 

26

 

LINICO Derivative Instrument

 

On December 30, 2021, the Company entered into an agreement to acquire 3,129,081 LINICO common shares from its former chief executive officer and director in exchange for 3,500,000 shares of the Company's common stock. If and to the extent that the sale of the shares results in net proceeds greater than $7,258,162, then former chief executive officer was required to pay all of such excess proceeds to the Company. If and to the extent that the sale of the shares results in net proceeds less than $7,258,162, then the Company was required to pay the former chief executive officer equal to such shortfall. In 2024, the former chief executive officer sold 3,500,000 of the Company's shares for net proceeds of $1,064,309. Net proceeds from the sale of the Company's shares of $1,064,309 and make whole cash payments to date of $2,950,000 resulted in a short fall of $3,243,853 of the contract consideration of $7,258,162. The Company included a payable of $3,243,853 recorded in accrued expenses and other liabilities in our condensed consolidated balance sheet (see Note 6, Accrued Expenses and Other Liabilities). The derivative liability was classified within Level 2 of the valuation hierarchy.

 

Ionic Ventures, LLC Conversion Option

 

On December 16, 2022, we recorded a derivative liability on the consolidated balance sheets in connection with the Ionic Note. During the three and nine-months ended September 30, 2023, the Company recorded a gain of $76,667 and a loss of $1,099,587, respectively, for the change in fair value of the derivative. In 2023, the derivative was fully converted. The derivative liability was classified within Level 3 of the valuation hierarchy.

 

American Battery Technology Investment

 

In connection with the sale of the Facility, the Company received 11 million shares of restricted common stock from the purchaser of the Facility, ABTC, with an initial fair value of $9,365,000. The fair value of our investment in ABTC restricted common shares acquired in connection with the sale of the Facility valued using a Monte Carlo valuation model.

 

Date

Description

 

Fair Value

  

Beginning Stock Price

  

Volatility

  

Risk Free Rate

 

April 6, 2023

10 million ABTC shares (make-whole provision $6.6 million to $7.6 million)

 $7,000,000  $0.78   94.0%  4.80%

April 21, 2023

Change in fair value of the 10 million ABTC shares for a change in make-whole commitment

 $2,000,000  $0.86   95.0%  5.00%

May 12, 2023

1 million ABTC shares

 $365,000  $0.74   95.0%  5.07%

 

Other Financial Instruments

 

At September 30, 2024, the carrying amount of cash and cash equivalents, notes receivable and debt carried at amortized costs, approximates fair value because of the short-term maturity of these financial instruments.

 

 

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NOTE 12         NET INCOME (LOSS) PER COMMON SHARE

 

                 
  

Three-Months Ended

  

Nine-Months Ended

 
  

September 30,

  

September 30,

 
  

2024

  

2023

  

2024

  

2023

 

Numerator:

                

Net income (loss) attributed to Comstock Inc.

 $(14,968,015) $12,364,975  $(30,502,979) $1,227,550 
                 

Denominator:

                

Basic weighted average shares outstanding

  187,868,997   109,093,289   149,430,981   101,853,484 

Incremental shares

  -   1,263,581   -   142,661 

Diluted weighted average shares outstanding

  187,868,997   110,356,870   149,430,981   101,996,145 
                 

Net income (loss) per common shares:

                

Basic EPS

 $(0.08) $0.11  $(0.20) $0.01 

Diluted EPS

 $(0.08) $0.11  $(0.20) $0.01 
                 

 

Net income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the period. For the three and nine-months ended September 30, 2024, all common stock equivalent shares, including warrants to purchase common stocks, stock options or awards and a conversion option on a convertible debt, are antidilutive. For the three and nine-months ended September 30, 2023, the calculation of incremental shares for diluted weighted average shares outstanding did not include the following items due to their anti-dilutive impact: 439,583 performance award shares, 527,500 market condition award shares, and 700,000 warrant shares. Additionally, the incremental share calculation for the nine-months ended September 30, 2023, did not include the anti-dilutive impact of 1,718,952 convertible debt shares. 

 

For the three and nine-months ended September 30, 2023, the weighted average number of shares outstanding, for the purpose of calculating earnings per share, were reduced by treasury shares of 2,605,322, which is the number of treasury shares through our ownership in LINICO. On January 5, 2024, the Company elected to retire 2,605,322 treasury shares of the Company’s common stock from LINICO for cancellation upon receipt, resulting in no treasury shares reduction for calculating earnings per share in 2024.

 

NOTE 13         SEGMENT REPORTING

 

We have the following segments and reporting units: Fuels, Metals, Mining, Strategic Investments and Corporate. The Company’s goal is to accelerate the commercialization of decarbonizing technologies. Once a technology achieves a certain technology readiness or a justifiable critical mass or market distinction, we strategically plan its commercialization and dedicate resources toward that end. Until then, it is managed with corporate resources.

 

Summarized financial information relating to our reportable segments is provided below. In 2023, our chief operating decision maker (“CODM”) reassessed the Company's performance and allocation of resources. Based on this reassessment, the Company's segments were determined to be Fuels, Metals, Mining, Strategic Investments and Corporate. Previously, our CODM assessed performance and allocation of resources to three business segments and reporting units including Renewable Energy, Mining and Strategic Investments. Certain amounts have been reclassified to conform to the current period presentation on a comparable basis. The Company plans, executes and monitors each reporting segment and has dedicated personnel responsible for each reportable segment. Our Fuels Segment represents our lignocellulosic biomass into biointermediates for refining into renewable fuels. Our Metals Segment represents our recycling of electrification products. Our Mining Segment includes our gold and silver mining assets and related real estate. Our Strategic Investments Segment includes our investments in GenMat, Green Li-ion and SSOF and our Corporate Segment includes all other assets and general corporate costs. Mining revenue is from leasing mineral claims and other real estate.

 

Three-Months Ended

                        

September 30, 2024

 

Fuels

  

Metals

  

Mining

  

Strategic Investments

  

Corporate / Other

  

Total

 

Revenue

 $  $128,558  $423,025  $  $4,800  $556,383 
                         

Depreciation and amortization

 $229,030  $260,371  $45,199  $180  $27,676  $562,456 
                         

Impairment of intangible assets

 $  $8,655,176  $  $7,560  $5,133  $8,667,869 
                         

Impairment of properties, plant and equipment

 $  $  $  $  $324,047  $324,047 
                         

Loss from operations

 $(695,290) $(9,521,902) $(271,630) $(20,496) $(3,105,411) $(13,614,729)
                         

Change in fair value of derivative instruments

 $  $  $927,000  $(768,080) $1,191,450  $1,350,370 
                         

Total other income (expense), net

 $(105,863) $  $980,188  $(417,293) $(1,836,886) $(1,379,854)
                         

Net income (loss)

 $(801,153) $(9,521,902) $708,558  $(437,789) $(4,942,297) $(14,994,583)
                         

Capital Expenditures

 $  $339,011  $  $  $  $339,011 
                         

Total Assets as of September 30, 2024

 $6,884,991  $7,115,747  $25,555,940  $57,562,436  $6,573,702  $103,692,816 

 

 

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Three-Months Ended

                        

September 30, 2023

 

Fuels

  

Metals

  

Mining

  

Strategic Investments

  

Corporate / Other

  

Total

 

Revenue

 $781  $  $519,166  $  $240,774  $760,721 
                         

Depreciation and amortization

 $264,688  $310,986  $61,694  $(8,579) $47,990  $676,779 
                         

Income (loss) from operations

 $(3,373,038) $(484,008) $27,740  $(1,178,299) $7,682,984  $2,675,379 
                         

Change in fair value of derivative instruments

 $  $  $(870,000) $(3,563,089) $2,063,913  $(2,369,176)
                         

Total other income (expense), net

 $17,508  $  $(814,885) $10,984,025  $879,137  $11,065,785 
                         

Net income (loss)

 $(3,355,530) $(484,008) $(787,145) $9,805,726  $8,562,121  $13,741,164 
                         

Capital Expenditures

 $  $694,480  $  $  $5,000  $699,480 
                         

Total Assets as of December 31, 2023

 $7,257,580  $11,797,921  $25,003,871  $57,082,301  $5,324,671  $106,466,344 

 

Nine-Months Ended

                        

September 30, 2024

 

Fuels

  

Metals

  

Mining

  

Strategic Investments

  

Corporate / Other

  

Total

 

Revenue

 $  $136,157  $1,266,601  $  $14,400  $1,417,158 
                         

Depreciation and amortization

 $692,352  $974,684  $135,472  $720  $71,923  $1,875,151 
                         

Impairment of intangible assets

 $  $8,655,176  $  $7,560  $5,133  $8,667,869 
                         

Impairment of properties, plant and equipment

 $  $  $  $  $324,047  $324,047 
                         

Income (loss) from operations

 $(3,675,407) $(10,996,950) $(354,085) $30,572  $(8,831,605) $(23,827,475)
                         

Change in fair value of derivative instruments

 $  $  $594,000  $(2,042,013) $1,964,769  $516,756 
                         

Total other income (expense), net

 $(191,241) $  $768,885  $(2,747,120) $(4,568,224) $(6,737,700)
                         

Net income (loss)

 $(3,866,648) $(10,996,950) $414,800  $(2,716,548) $(13,399,829) $(30,565,175)
                         

Capital Expenditures

 $  $804,949  $  $  $  $804,949 
                         

Total Assets as of September 30, 2024

 $6,884,991  $7,115,747  $25,555,940  $57,562,436  $6,573,702  $103,692,816 

    

Nine-Months Ended

                        

September 30, 2023

 

Fuels

  

Metals

  

Mining

  

Strategic Investments

  

Corporate / Other

  

Total

 

Revenue

 $781  $  $569,641  $  $256,374  $826,796 
                         

Depreciation and amortization

 $707,736  $901,136  $185,082  $61,202  $157,545  $2,012,701 
                         

Income (loss) from operations

 $(5,593,190) $(1,202,340) $(1,328,673) $(3,510,590) $3,301,011  $(8,333,782)
                         

Change in fair value of derivative instruments

 $  $  $(195,000) $(798,623) $887,659  $(105,964)
                         

Total other income (expense), net

 $52,353  $  $(67,412) $12,873,727  $(1,970,053) $10,888,615 
                         

Net income (loss)

 $(5,540,837) $(1,202,340) $(1,396,085) $9,363,137  $1,330,958  $2,554,833 
                         

Capital Expenditures

 $68,582  $694,480  $736,595  $  $15,896  $1,515,553 
                         

Total Assets as of December 31, 2023

 $7,257,580  $11,797,921  $25,003,871  $57,082,301  $5,324,671  $106,466,344 

 

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NOTE 14         RELATED PARTY TRANSACTIONS

 

The following related party transactions occurred during the nine-months ended September 30, 2024 and 2023.

 

TRANSACTIONS INVOLVING SIERRA SPRINGS OPPORTUNITY FUND

 

On December 29, 2023, the Company and SSOF agreed to convert total advances into 3,880,556 shares of SSOF common stock (see Note 2, Investments). At September 30, 2024, the Company’s total investment in SSOF was $19,575,000, representing 10,875,000 common shares of SSOF, or 17.38% of the total SSOF outstanding common shares on a fully diluted, if converted basis.

 

The Company's executive chairman and chief executive officer co-founded SSOF and SSE and serves as the chief executive officer of SSOF and as an executive of SSE along with a diverse team of qualified financial, capital markets, real estate and operational professionals that together govern, lead, and manage SSOF and SSE. The $525,000 investment and 8,667,666 voting shares of our chief executive officer and two of our directors represent 13.85% of total as converted SSOF common shares. The Company's chief executive officer has not received compensation from either SSOF or SSE.

 

SSOF is a qualified opportunity zone fund, which owns 100% of SSE, a qualified opportunity zone business. SSE and its subsidiaries own or control approximately 2,500 acres of land, a manufacturing facility, significant senior, junior and effluent water rights, sewer rights and also owns and operates the Silver Springs Regional Airport LLC. The substantial majority of these properties are contiguous and strategically located within immediate proximity of Highway 50, State Route 492, the Northern Nevada Industrial Center and the Tahoe Reno Industrial Center where high tech companies like Tesla, Switch, Google, Microsoft, Tract and Redwood Materials, amongst many others that are currently located, expanding or locating in this industrializing region.

 

TRANSACTIONS INVOLVING FLUX PHOTON CORPORATION

 

On September 7, 2021, the Company entered into the FPC Asset Purchase Agreement with FPC to acquire the FPC Assets. The purchase price payable for the FPC Assets was $18,000,000 payable in cash to FPC at a rate equal to 20% of the future monthly consolidated sales, less total variable costs, less operating expenses, maintenance, tax payments, and debt service payments of the Company and its now and hereafter-existing subsidiaries, until the purchase price of $18,000,000 has been fully paid. The Company assigned the FPC Assets to the Company immediately after closing. On December 10, 2021, the FPC Asset Purchase Agreement was amended to provide for the payment by the Company of a $350,000 down payment against the purchase price, with a remaining performance-based cash payment of $17,650,000 required under the FPC Asset Purchase Agreement. The Company’s chief technology officer and the president of Comstock Fuels are indirect beneficiaries of all payments made to FPC under the FPC Asset Purchase Agreement. The Company additionally agreed to appoint the Company's chief technology officer to the Company’s Board of Directors in connection with the Company’s acquisition of Comstock Innovations Corporation on September 7, 2021.

 

On December 28, 2023, the Company entered into the 2023 FPC Asset Purchase Agreement Amendment to reduce the purchase price payable from the remaining purchase price of $17,650,000 to $16,850,000. On December 28, 2023, the Company paid $200,000 on this payable which was accounted for as an acquisition of intellectual property. The remaining balance of $16,650,000 will be paid to FPC from future cash flows. The Company’s chief technology officer and a member of the Company's board of directors, is also the owner of 100% of the outstanding common stock of FPC and as such was the indirect beneficiary of all payments made to FPC pursuant to the FPC Asset Purchase Agreement. On September 20, 2024, the Company paid an additional $100,000 to FPC from future cash flows with a remaining balance of $16,550,000.

 

LEASE AND PURCHASE AGREEMENT FOR FACILITY

 

In 2021, LINICO, a majority-owned subsidiary of the Company, had a finance lease, as lessee, with AQMS, for the Facility. The chief financial officer of AQMS was on the Company's board of directors until he resigned effective as of April 5, 2023. On April 26, 2023, the Company closed on the purchase of AQMT, a subsidiary of AQMS, whose sole asset was the Facility, and paid $12.0 million due to AQMS, effectively taking full ownership of the Facility. The previously existing lease between LINICO and AQMS was terminated. 

 

PURCHASE OF METAL RECYCLING FURNACE

 

On December 15, 2023, the Company and Dr. Fortunato Villamagna, president of Comstock Metals, signed an agreement in which Dr. Villamagna agreed to contribute a metal recycling furnace to the Company. The Company agreed to make payments for the metal recycling furnace totaling $375,000 from an amount not exceeding 20% of excess cash flow generated by Comstock Metals, defined as excess cash available after the satisfaction of all planned growth capital for Comstock Metals and the repayment of intercompany loans. At September 30, 2024 and December 31, 2023, the metal recycling furnace is included in Properties, plant and equipment, net and the corresponding liability is included in other liabilities (long-term) on the condensed consolidated balance sheet.

 

OTHER

 

Sierra Clean Processing LLC, a wholly owned subsidiary of SSOF, owns the building at 600 Lake Avenue, Silver Springs, Nevada which the Company entered into the Building Lease on August 15, 2023 and a Real Estate and Building Lease on July 1, 2024 (see Note 7, Leases). The Company's chief executive officer is an executive and director of Sierra Clean Processing LLC. 

 

On May 17, 2024, the chief executive officer purchased 1,250,000 restricted shares of the Company's common stock at a price of $0.40 per share, or $500,000 in net proceeds. Separately, the chief executive officer entered into a personal promissory note with Alvin Fund LLC (“Alvin”), who is separately a creditor and shareholder of the Company. The promissory note has a principal of $1,100,000 and accrues interest at 6% per annum for one year and 8% per annum thereafter and matures three years from the date of issuance. The obligations under the chief executive officer's personal promissory note are secured by a security interest in SSOF shares owned by the chief executive officer. The chief executive officer assigned 500,000 shares of SSOF owned by him to the Alvin as partial consideration for the extension of credit. The Company is not a party to the chief executive officer's arrangements with the Alvin. 

 

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NOTE 15         SUBSEQUENT EVENTS

 

On October 1, 2024, pursuant to the 2023 Kips Bay Note, the Company issued 547,605 shares to Kips Bay at a conversion price of $149,004 at an average conversion price of $0.27. The Company plans to pay the remaining principal balance of $361,419 with cash in the fourth quarter of 2024.

 

In October 2024, pursuant to the 2024 Kips Bay Note, the Company issued 1,392,219 shares to Kips Bay at a conversion price of $536,840 at an average conversion price of $0.39.

 

On October 1, 2024, the Company executed an Exclusive License Agreement (“ELA”) and a Cooperative Research and Development Agreement (“CRADA”) with Alliance for Sustainable Energy LLC (“Alliance”), the managing and operating contractor of the U.S. Department of Energy’s (“DOE”) National Renewable Energy Laboratory (“NREL”), involving technologies developed by NREL and the Massachusetts Institute of Technology (“MIT”) for conversion of lignocellulosic biomass into aromatic sustainable aviation fuel (“SAF”). NREL and MIT are separately party to an Inter-Institutional Agreement that appointed NREL the exclusive right to license NREL’s and MIT’s joint intellectual properties. The ELA provides the Company with the exclusive worldwide right to use the NREL technologies in the processing and conversion of seed plants to renewable fuels and renewable fuel feedstocks, subject to limited geographic restrictions, in exchange for royalty and other fees linked to sales of licensed products and sublicensing. The terms of the CRADA involve a three-year scope of work to jointly develop an integrated process based on the Company's existing process and the NREL technologies for the solvocatalytic refining of woody biomass into aromatic SAF and other renewable fuels. The Company will fund the research and contribute staff, equipment, and use of its pilot facility in Wisconsin and the joint work will be supported by NREL, MIT, and Washington State University. 

 

On October 1, 2024, the Company entered into a binding letter agreement (the “Letter Agreement” with Deep Interstellar Research LLC (“DIR”) and Quantum Generative Materials LLC (“GenMat”) to (i) separate GenMat’s materials development activities (“Materials Science Business”) and space development activities (“Space Business”); (ii) assign all assets, operations, and liabilities relating to the Materials Business to GenMat; (iii) assign all assets, operations, and liabilities relating to the Space Business to GenMat Development LLC; (iv) exchange 100% of GenMat’s equity in GenMat Development LLC for 100% of DIR’s equity in GenMat; and (v) devise and implement a mutually agreeable transition plan to assist GenMat in developing independent operations for the Material Science Business without the need for support from assets, personnel, and vendors that are utilized by the Space Business. In connection with the foregoing transactions, GenMat will additionally pay $1,000,000 to the founder of GenMat in exchange for assignment of all rights to related intellectual properties, plus a contingent earn-out payment equal to 3% of either (a) the consideration paid in connection with the liquidation of substantially all of the equity of GenMat in excess of $100,000,000, or (b) the funds raised by GenMat upon completion of an initial public offering of GenMat at a valuation in excess of $100,000,000. Upon completion of the transactions described above, GenMat will become a 100% owned subsidiary of the Company.  

 

On October 7, 2024, pursuant to the 2024 Kips Bay Note, the Company issued Kips Bay 406,352 registered shares of the Company's common stock representing 3% of the principal amount of the 2024 Kips Bay Note, based on a price per share equal to the 20-day VWAP for the period beginning on the 10th trading day prior to the closing of the 2024 Kips Bay Note and ending on the 10th trading day after the closing of the 2024 Kips Bay Note (the “VWAP Period”), for no additional consideration. On October 9, 2024, pursuant to the 2024 Kips Bay Note, the Company issued Kips Bay 270,901 restricted shares of the Company's common stock representing 2% of the principal amount of the 2024 Kips Bay Note, based on a price per share equal to the 20-day VWAP for the VWAP period, for no additional consideration.

 

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ITEM 2            MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

The following discussion and analysis provides information that management believes is relevant to an assessment and understanding of our condensed consolidated financial condition and results of operations. This discussion should be read in conjunction with the Condensed Consolidated Financial Statements, footnotes and the risk factors included herewith and herein.

 

OVERVIEW

 

Comstock innovates and commercializes technologies that enable systemic decarbonization, primarily by enabling the extraction and conversion of under-utilized natural resources into renewable energy and related products that integrate into existing global supply chains, facilitate the clean energy transition that reduce reliance on fossil fuels and contribute to net zero mobility.

 

Our goal is to Accelerate the Commercialization of Hard Technologies for the Energy Transition primarily in renewable fuels, electrification metals, and artificial intelligence enabled mineral and materials development. Our strategic plan is based on accelerating the rate that our system innovates, enables and commercializes material science solutions that use our technologies to reduce reliance on long cycle fossil fuels, shift to short cycle fuels, and lead and support the adoption and growth of a profitable, balanced short cycle ecosystem that continuously offsets, recycles, and/or neutralizes carbon emissions. We are pushing the boundaries in technology development and sustainability by leveraging our systems unique design, our teams’ unique skills, our diverse technology portfolio, and our frontier research networks toward achieving breakthrough innovations that deliver meaningful positive impact across communities. 

 

Our approach integrates frontier scientific discovery with our systemic management practices into One System aligned and capable to meet the demand for commercial-ready energy transition solutions. Our operations primarily involve the innovation, development, and commercialization of our intellectual properties and related assets, with integrated teams focused on each core function in dedicated lines of business organized to address high impact decarbonization targets. We innovate and develop technologies to achieve significant growth on industry-wide scales by creating financial and other incentives for rapid integration into and across entire industries. Our commercialization plans are designed to facilitate that result, such as by selling process solutions, engineering services and technology licenses that enable clients to use their capital, infrastructure, and other resources to maximize the rate and scale of commercial adoption.

 

We are currently commercializing pioneering intellectual properties for refining lignocellulosic (woody) biomass into renewable replacements for fossil crude at remarkably high yields, recycling increasingly scarce electrification metals from end-of-life photovoltaics and other electronic devices, and advanced physics based artificial intelligence for precision mining and materials discovery. We make, own and manage investments in related assets to support our businesses, including multiple, existing minority equity positions and partnerships in strategic technology developers, a renewable fuels demonstration facility in Wisconsin, a metals recycling demonstration facility in Nevada, and direct investments in northern Nevada real estate comprised of industrial and commercial properties, strategic water rights and about twelve square miles of mining claims and related surface parcels with measured and indicated mineral resources containing 605,000 ounces of gold and 5,880,000 ounces of silver, and inferred mineral resources containing an additional 297,000 ounces of gold and 2,572,000 ounces of silver.

 

Our partnerships include licensing and development agreements with, for example, RenFuel and the Alliance for Sustainable Energy LLC (“Alliance”), the managing and operating contractor of the U.S. Department of Energy’s (“DOE”) and the National Renewable Energy Laboratory (“NREL”), involving technologies developed by NREL and the Massachusetts Institute of Technology (“MIT”) (and collectively, the NREL Technologies).

 

RenFuel’s license is for the expansive use of their technologies and for the continued development and commercialization of advanced applications of RenFuel’s and Comstock’s complimentary technologies and with an unaffiliated research and development company for purposes of conducting certain research and development work for increasing fuel yields, reducing carbon impact and lowering costs. 

 

NREL’s license represents an exclusive worldwide right to use the NREL Technologies in the processing and conversion of woody biomass to renewable fuels, subject to limited geographic restrictions, in exchange for royalty and other fees linked to related sales.

 

The Company recently executed an indicative term sheet for $325 million (about $315 million net of transaction fees) in funding through SBC Commerce LLC (“SBCC”), a U.S. based, globally positioned, private equity group. The transaction is subject to final due diligence and applicable regulatory approvals, including $200 million into Comstock Fuels Corporation; $22 million into Comstock Metals; $50 million into Comstock Mining; and $50 million for the sales of the Company's real estate and water rights in Silver Springs, NV. This term sheet represents a combination of direct equity and/or debt financing and certain asset sales that secures timely and essential growth capital to advance, elevate and accelerate the commercialization of the Company’s fuels, metals and mining businesses.

 

The transaction package includes $275 million (about $267 million net of transaction fees) of direct investments into Comstock’s three main operating subsidiaries, including a $3 million direct equity investment into common shares of Comstock itself, as well as an agreement to sell the membership interests in the entities that own Comstock’s directly owned Nevada real estate and water rights for gross proceeds of $50 million ($47 million, net of transaction expenses).

 

Lines of Business

 

Fuels Segment

 

Our Fuels Segment develops and commercializes technologies that extract and convert wasted and unused lignocellulosic biomass into intermediates for refining into advanced renewable fuels. Most renewable fuels draw from the same pool of conventional fats, oils and greases (“FOG”) feedstocks, but the total existing FOG supply can only meet a small fraction of the global mobility demand. Our technologies unblock that constraint by converting abundant, lignocellulosic biomass into biointermediates for refining into high-yielding renewable fuels.

 

On October 1, 2024, the Company executed an Exclusive License Agreement (“ELA”) and a Cooperative Research and Development Agreement (“CRADA”) with Alliance for Sustainable Energy LLC (“Alliance”), the managing and operating contractor of the U.S. Department of Energy’s (“DOE”) National Renewable Energy Laboratory (“NREL”), involving technologies developed by NREL and the Massachusetts Institute of Technology (“MIT”) for conversion of lignocellulosic biomass into aromatic sustainable aviation fuel (“SAF”). The ELA provides the Company with the exclusive worldwide right to use the NREL technologies in the processing and conversion of seed plants to renewable fuels and renewable fuel feedstocks, subject to limited geographic restrictions, in exchange for royalty and other fees linked to sales of licensed products and sublicensing. The terms of the CRADA involve a three-year scope of work to jointly develop an integrated process based on the Company's existing process and the NREL technologies for the solvocatalytic refining of woody biomass into aromatic SAF and other renewable fuels. The Company will fund the research and contribute staff, equipment, and use of its pilot facility in Wisconsin and the joint work will be supported by NREL, MIT, and Washington State University. 

 

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While innovation and development are ongoing and we expect additional advancements, our existing commercially available technologies have proven the potential to produce up to 125 gallons per dry tonne of woody biomass as measured on a Gasoline Gallon Equivalent Basis (“GGE”) basis, with Carbon Intensity (“CI”) scores of 15 or less for Cellulosic Ethanol and our proprietary hydro-deoxygenated Bioleum oil (“HBO”). HBO is used by biofuel refineries to blend with and extend conventional hydroprocessed FOG feedstocks to enhance production of renewable fuels. Complimentary technologies have been secured that can add up to 15 more GGEs.

 

On September 18, 2024, Comstock Fuels executed a term sheet with SACL Pte. Ltd. (“SACL”), a Singapore-based project development and management company that intends to develop renewable energy projects in Australia and New Zealand (the “Territory”). The term sheet is non-binding, but binding in respect of the essential economic terms until such time as the parties execute definitive agreements.

 

Comstock Fuels will grant SACL an exclusive marketing agreement for Comstock Fuels’ advanced lignocellulosic biomass refining processes in Australia and New Zealand, and a master non-exclusive license to certain intellectual property for the sole purpose of developing, financing, constructing, and the ongoing management of these renewable production facilities (each, a “Licensed Facility”).

 

Comstock Fuels and the owner of each Licensed Facility (“Producer”) will execute a separate non-exclusive, site-specific license agreement (“Site License Agreement”) for the development, financing, construction, and management of the corresponding Licensed Facility, and the direct use of the certain intellectual property of Comstock Fuels to produce and sell renewable fuels and related products.

 

Comstock Fuels will contribute the site-specific license to develop, finance, build, and manage the corresponding Licensed Facility in exchange for 20% of Producer’s fully diluted equity on a post-money basis after completion of construction financing for the corresponding Licensed Facility or scope expansion.

 

Comstock Fuels will provide each Producer with engineering support services in exchange for 3% of each applicable Producer’s total capital and construction costs, increasing to 6% at and above a capacity of 250,000 metric tons per year (“MTPY”), including an initial upfront payment of $2,500,000 payable upon execution of each applicable Site License Agreement.

 

Each applicable Producer will also agree to pay to Comstock Fuels an ongoing royalty fee equal to 3% of the total sales of licensed products by each Licensed Facility (“Royalty Fees”), increasing to 6% at and above a capacity of 250,000 MTPY. Royalty Fees shall be paid monthly.

 

We are also evaluating our own first demonstration scale commercial facility and several, related joint development solutions and systems based on our technologies, as well as feedstock and offtake agreements, licenses, engineering services, and direct investments of up to $200 million into Comstock Fuels Corporation, for deploying that first demonstration scale commercial facility, primarily from clean energy facilitating, technologically sophisticated and well capitalized partners. 

 

Closing on $200 million of direct equity and/or debt financing into Comstock Fuels for the development and deployment of our first demonstration scale commercial facility, plus the execution of additional commercial agreements, including joint development agreements, offtake agreements, feedstock agreements, and additional licensing agreements represents our 2024 and ongoing objectives.

 

Metals Segment

 

Our Metals Segment recently secured its first industry-scale facility lease, the related county permit for storage, and increasingly significant supplier commitments and all of the necessary permits for operating its previously commissioned demonstration scale commercial photovoltaic recycling facility and commenced receiving revenue in the form of tipping fees during the 2024 second quarter, and revenue from recycled metal and residual material sales from processed end-of-life PV materials during the 2024 third quarter. 

 

During the nine months of 2024, we expanded our metals recycling team, commissioned our first production site, secured all permitting for our first demonstration scale commercial facility, secured long term supply agreements from our first customers, commenced production commissioning activities and recorded revenue from both tipping fees and recycled metal sales, while we continued expanding existing revenue generating supply commitments that included additional decommissioning services for certain customers. We have also completed the site selection and secured our first “industry-scale” production facility and commenced the design and the permitting thereto, having already received our first county-level permit for industry-scale storage and processing.

 

Closing on $22 million of direct equity and/or debt financing into Comstock Metals, submitting all prerequisite permits, finalizing the industry-scale engineering, ordering all of the industry-scale equipment for our first industry-scale facility, and accelerating site selection for our second and third facilities, are the key 2024 Metals objectives.

  

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Mining Segment

 

Our Mining Segment generated income in the form of leases, licenses, and related fees during the first nine months of 2024, and is administered by our wholly owned subsidiaries, Comstock Mining LLC, Comstock Processing and various other local subsidiaries that collectively own or control twelve square miles of properties of patented mining claims, unpatented mining claims and surface parcels in northern Nevada, including six and a half miles of continuous mineralized strike length (the “Comstock Mineral Estate”).

 

Closing on $50 million of direct equity and/or debt financing into the Mining segment for the full development of the Dayton mine, closing on the sale of the equity interest of the entity that holds certain claims in Storey County, other than the Lucerne resource and processing assets, advancing the preliminary economic assessment for the Dayton resource and progressing toward full economic feasibility for the southern part of the district and the development of preliminary Dayton mine and reclamation plans are key 2024 objectives.

 

Strategic Investments Segment

 

We own and manage several investments and projects that are strategic to our plans and ability to produce and maximize throughput in our Fuels, Metals and Mining Segments, that are held for the purpose of complimenting or enhancing our mission of enabling systemic decarbonization and creating value but that are not a component of such other segments or otherwise have distinct operating activities. Our Strategic Investments Segment includes minority equity and equity-linked investments in GenMat (physics-based artificial intelligence), Green Li-ion Pte Limited (lithium-ion battery component recycler and remanufacturing), RenFuel (advanced biofuel development and production) and Sierra Springs Opportunity Fund (northern Nevada real estate) and other equity investments.

 

Investment in GenMat – Our investments in GenMat represent an integral component of our innovation strategy. GenMat has developed and launched a material science based AI that we believe can simulate critical properties of known materials with high accuracy. GenMat also plans on using its AI to simulate new material characteristics for new and existing applications. We believe these material science based AI models can be employed today, on GenMat’s existing high-performance computing platform, for immediately productive uses.

 

During 2023, GenMat developed its proprietary Hyperspectral Remote Sensing Imaging (“HRSI”) satellite, the GENMAT-1, and deployed it into Low Earth Orbit (LEO). Hyperspectral imaging collects and processes information from across the electromagnetic spectrum using contiguous bands and is useful for mineral exploration, oil and gas exploration, agriculture, and forest management. GenMat has also developed and operationalized the GenMat MCS, its proprietary mission control software. The purpose of the GENMAT-1 and MCS is for researching and developing mineral exploration capabilities using their proprietary physics-based artificial intelligence (AI) known as ZENO.

 

On October 1, 2024, the Company entered into a binding letter agreement (the “Letter Agreement” with Deep Interstellar Research LLC (“DIR”) and GenMat to (i) separate GenMat’s materials development activities (“Materials Science Business”) and space development activities (“Space Business”); (ii) assign all assets, operations, and liabilities relating to the Materials Business to GenMat; (iii) assign all assets, operations, and liabilities relating to the Space Business to GenMat Development LLC; (iv) exchange 100% of GenMat’s equity in GenMat Development LLC for 100% of DIR’s equity in GenMat; and (v) devise and implement a mutually agreeable transition plan to assist GenMat in developing independent operations for the Material Science Business without the need for support from assets, personnel, and vendors that are utilized by the Space Business. In connection with the foregoing transactions, GenMat will additionally pay $1,000,000 to the founder of GenMat in exchange for assignment of all rights to related intellectual properties, plus a contingent earn-out payment equal to 3% upon the cash realization from GenMat of a valuation in excess of $100,000,000.

 

Upon completion of the transactions described above, GenMat will become a 100% owned subsidiary of the Company.

 

Investment in Green Li-ion – Our wholly owned LINICO subsidiary has owned 37,162 preferred shares of Green Li-ion since 2021. On September 12, 2023, LINICO received gross proceeds of $795,510 from the sale of 1,500 Green Li-ion preferred shares (representing approximately 4% of the 37,162 of the shares then owned by LINICO). In 2023, the Company adjusted our investment's carrying value to fair value by increasing that value by $14,577,627 for the remaining 35,662 Green Li-ion preferred shares representing 13.34% of Green Li-ion. The Company intends to sell its remaining shares during 2025.

 

Investment in SSOF – During 2019, the Company invested $335,000 for 6,700,000 shares. From 2020 through November of 2023, the Company advanced $6,985,000 to SSOF and its subsidiary, for the purpose of purchasing land, payments for deposits on land and payments for an option on land and water rights purchases. On December 29, 2023, the Company and SSOF agreed to convert the full amount of the outstanding advances for an additional 3,880,556 common shares of SSOF stock (at a dollar value of $1.80 per share) that also resulted in an unrealized gain recognized of $11,725,000 on the original 6,700,000 shares. For the nine months ended 2024, the Company invested an additional $530,000 in SSOF at $1.80 per share increasing our equity ownership to 17.38%.

 

SSOF is a qualified opportunity zone fund, that owns 100% of SSE, a qualified opportunity zone business. SSE and its subsidiaries own or controls approximately 2,500 acres of land, a manufacturing facility, significant senior, junior and effluent water rights, sewer rights and also owns and operates the Silver Springs Regional Airport LLC. The substantial majority of these properties are contiguous and strategically located within immediate proximity of Highway 50, State Route 492, the Northern Nevada Industrial Center and the Tahoe Reno Industrial Center where high tech companies like Tesla, Switch, Google, Microsoft, Tract and Redwood Materials, and over one hundred other companies are currently located, expanding or locating in this industrializing region.

 

34

 

Other Investment – On March 1, 2024, the Company entered into Securities Purchase Agreement (the “Developer Securities Purchase Agreement”) with an unaffiliated research and development company (“Developer”) under which the Company agreed to purchase 4,000,000 shares of common stock of the Developer, corresponding to 40% of Developer's fully-diluted issued and outstanding capital stock, for $1,500,000. Concurrently and in connection with the entity into the Developer Securities Purchase Agreement, the Company and Developer entered into Development Services Agreement (“DSA”) for purposes of conducting certain research and development work. The purchase price payable by the Company pursuant to the Developer Securities Purchase Agreement is scheduled to be paid on the following schedule:

 

Phase 1

 

$100,000 on March 1, 2024;

 

$20,000 per month from March 1, 2024 to completion of the first project under the DSA; and

 

$205,000 on completion of the first project under the DSA.

 

After completion of Phase 1

 

$30,000 per month until fully paid; and

 

$205,000 on completion of the first six projects under the DSA.

 

Since the payments are not interest bearing, the Company calculated the implied interest of $214,039 on the future cash payments using an interest rate of 9.76% which was recorded as a discount on initial investment of $1.5 million and will be recognized over the payment term. The Company recorded a corresponding payable for future cash payments to account for the 40% ownership interest in the Developer. At September 30, 2024, the future remaining payments, net implied interest, totaled $1,122,424 (see Note 6, Accrued Expenses and Other Liabilities).  For the three and nine-months ended September 30, 2024, the Company recorded $25,964 and $74,364, respectively, in equity loss from affiliates for our investment in the Developer. During the three and nine-months ended September 30, 2024, Comstock paid $60,000 and $240,000, respectively, to the Developer in accordance with the funding commitments under the Developer Securities Purchase Agreement. 

 

Other

 

Investments in Properties – The Company directly owns three types of properties in Silver Springs, NV, including 98 acres of industrial land, 160 acres of commercial land, both centrally located in Silver Springs, just south of the Silver Springs Regional Airport and a portfolio of water rights. The Company has begun marketing these assets for sale as both industrial and commercial development as interest in Silver Springs, NV continuously increased during 2024, and accordingly classified these assets as held for sale in the condensed consolidated balance sheet.

 

COMPARATIVE FINANCIAL INFORMATION

 

Three-Months Ended September 30, 2024 Compared to Three-Months Ended September 30, 2023

 

Net loss for the three-months ended September 30, 2024 increased by $28,735,747 to $14,994,583 from net income of $13,741,164 for the comparable 2023 period. The increase in net loss primarily resulted due to gain on investments in 2023 of $14,074,875 with no similar investment sales in 2024, higher impairment of intangible assets and properties plant and equipment of $8,667,869 and $324,047, respectively, lower gain on sale of Facility in 2023 of $7,126,377 with no similar gain in 2024, change in loss on conversion of debt of $2,508,206, higher interest expense of $376,181, loss on debt extinguishment of $222,634, and lower revenues of $204,338. The increase is partially offset by change in estimated fair value of the derivative assets of $3,719,546 with a $1,350,370 gain recorded in 2024 as compared to a $2,369,176 loss in 2023, lower other income (expense) by $1,008,763, and lower depreciation and amortization expense of $114,323. 

 

Below we set forth a summary of comparative financial information for the three-months ended September 30, 2024 and 2023:

 

   

September 30, 2024

   

September 30, 2023

   

Change

 

Revenue

  $ 556,383     $ 760,721     $ (204,338 )
                         

Operating Expenses:

                       

Selling, general and administrative expenses

    3,176,373       3,140,080       36,293  

Research and development

    1,440,367       1,394,860       45,507  

Depreciation and amortization

    562,456       676,779       (114,323 )

Impairment of intangible assets

    8,667,869             8,667,869  

Impairment of properties, plant and equipment

    324,047             324,047  

Gain on sale of Facility

          (7,126,377 )     7,126,377  

Total operating expenses

    14,171,112       (1,914,658 )     16,085,770  
                         

Income (loss) from operations

    (13,614,729 )     2,675,379       (16,290,108 )
                         

Other Income (Expense)

                       

Gain on investments

          14,074,875       (14,074,875 )

Interest expense

    (696,996 )     (320,815 )     (376,181 )

Interest income

    81,015       73,067       7,948  

Change in fair value of derivative instruments

    1,350,370       (2,369,176 )     3,719,546  

Gain (loss) on conversion of debt

    (2,218,694 )     289,512       (2,508,206 )

Loss on debt extinguishment

    (222,634 )           (222,634 )

Other income (expense)

    327,085       (681,678 )     1,008,763  

Total other income (expense), net

    (1,379,854 )     11,065,785       (12,445,639 )
                         

Net income (loss)

  $ (14,994,583 )   $ 13,741,164     $ (28,735,747 )
                         

Net income (loss) attributable to noncontrolling interest

  $ (26,568 )   $ 1,376,189     $ (1,402,757 )
                         

Net income (loss) attributable to Comstock Inc.

  $ (14,968,015 )   $ 12,364,975     $ (27,332,990 )

 

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RESULTS OF OPERATIONS

 

Three-Months Ended September 30, 2024 Compared to Three-Months Ended September 30, 2023

 

Revenues for the three-months ended September 30, 2024 decreased by $204,338 to $556,383 from $760,721 for the comparable 2023 period, primarily due to lower revenues from the ABTC lease of $237,473 and lower revenues from the Mackay mineral lease of $100,000, partially offset by revenues from Comstock Metals of $128,558. 

 

Revenue and costs of sales in future periods will vary significantly depending on a number of factors, including the amount of solar panels that we recycle and the amount of renewable energy technology solutions that we license and sell, lease revenues on our properties, the market prices for those services, the extent to which we secure and collect reasonable royalties, the degree to which we can provide event-driven engineering services, and the costs associated with each component of the aforementioned revenues.

 

Selling, general and administrative expense for the three-months ended September 30, 2024 increased by $36,293 to $3,176,373 from $3,140,080 in the comparable 2023 period, primarily as a result of higher consulting expense of $259,878, higher share-based compensation of $214,778, and higher rent expense of $181,931; partially offset by lower employee costs of $325,478 attributed to lower incentive compensation and lower bad debt expense of $240,000 attributed to the 2023 impairment of a Fenix deposit.

 

Research and development expenses for the three-months ended September 30, 2024 increased by $45,507 to $1,440,367 from $1,394,860 in the comparable 2023 period. The increase is primarily related to higher costs for processing crushing and separating electrification products of $309,427; offset partially by lower employee costs of $215,965 for salaries and incentive compensation.

 

Depreciation and amortization for the three-months ended September 30, 2024 decreased by $114,323 to $562,456 from $676,779 in the comparable 2023 period. The decrease is primarily related to lower amortization for impaired intangible assets in 2024. 

 

Impairment of intangible assets and properties, plant and equipment assets for the three-months ended September 30, 2024 of $8,667,869 and $324,047, respectively, was attributed to the impairment of intangible assets and equipment in 2024 (see Note 4, Properties, Plant and Equipment, Net and Mineral Rights and Note 5, Intangible Assets).   

 

In 2023, we recognized a gain on the sale of the Facility of $7,126,377, with no comparable amount in 2024.

 

Gain on investments for the three-months ended September 30, 2024 decreased by $14,074,875 to $0 from $14,074,875 in the comparable 2023 period. The decrease is primarily related to the 2023 realized gain of $597,248 on the sale of 1,500 shares of our Green Li-ion investment and the adjusted fair value unrealized gain of $14,577,627 recorded on the remaining 35,662 Green Li-ion preferred shares at $530.34 per share; offset by $1,100,000 in loss on the ABTC investment as we sold 9,076,923 ABTC shares for the three-months ended September 30, 2023, with no comparable amount in 2024.

 

Interest expense for the three-months ended September 30, 2024 increased by $376,181 to $696,996 from $320,815 in the comparable 2023 period, primarily due to higher interest and higher amortization of the original issue discount (“OID”) on the 2023 Kips Bay Note and 2023 Alvin Fund Note originating in the fourth quarter of 2023 and the 2024 Leviston Note and 2024 Kips Bay Note originating in the third quarter of 2024.

 

Interest income for the three-months ended September 30, 2024 increased by $7,948 to $81,015 from $73,067 in the comparable 2023 period, primarily due to higher interest income related to our cash sweep account. 

 

Change in the fair value of our derivative instruments for the three-months ended September 30, 2024 increased by $3,719,546 to a gain of $1,350,370 from a loss of $2,369,176 in the comparable 2023 period, as a result of an increase in the Company's share price in connection with potential make-whole obligations for minimum value commitments on the Company's common shares. The 2024 gain was attributed to gain of $8,575 for the LINICO investment, gain of $927,000 for the Haywood investment, gain of $404,794 on the derivative liability for 2023 Kips Bay Note and gain of $130,000 for the 2024 Leviston Note; partially offset by a loss of $120,000 for the 2024 Kips Bay Note. The loss from the three-months ended September 30, 2023 was attributed to $1,120,000 for the LINICO investment, $845,843 for the GenMat investment and $480,000 for the Haywood investment, partially offset by a gain of $76,667 on the derivative liability for Ionic Note.

 

Loss of $2,218,694 on the conversion of debt to equity for the three-months ended September 30, 2024 is attributed to the 2023 Kips Bay Note and 2024 Leviston Note debt conversions associated with 7,891,480 and 24,680,175, respectively, of the Company's common shares issued for the conversion of the debt during the three-months ended September 30, 2024. Gain of $289,512 on the conversion of debt to equity for the three-months ended September 30, 2023 was attributed to the Ionic Note debt conversions associated with 2,818,714 of the Company's common shares used for the conversion during the three-months ended September 30, 2023.

 

Loss on debt extinguishment of $222,634 resulted from the Company using cash to redeem $500,000 of principal on the 2023 Kips Bay Note at a 10% redemption premium totaling $50,000 and loss on debt extinguishment of $172,634.

 

Other income (expense), net for the three-months ended September 30, 2024 were $327,085, primarily consisting of unrealized gain on fair value change of GenMat advances of $776,656, partially offset by losses from our equity method investments of $449,883 substantially all of which were from GenMat.

 

Other income (expense), net for the three-months ended September 30, 2023 were $681,678, primarily consisting of losses from our equity method investments of $531,535 substantially all of which were from GenMat.

 

COMPARATIVE FINANCIAL INFORMATION

 

Nine-Months Ended September 30, 2024 Compared to Nine-Months Ended September 30, 2023

 

Net loss for the nine-months ended September 30, 2024 increased by $33,120,008 to $30,565,175 from net income of $2,554,833 for the comparable 2023 period. The increase in net loss primarily resulted due to gain on investments in 2023 of $13,309,875 with no investment sales in 2024, higher impairment of intangible assets and properties plant and equipment of $8,667,869 and $324,047, respectively, lower gain on sale of Facility in 2023 of $7,304,570 with no similar gain in 2024, change in loss on conversion of debt of $3,742,616, higher interest expense of $985,944, loss on debt extinguishment of $744,256, and higher research development expenses of $454,304. The increased loss is partially offset by a change in estimated fair value of the derivative assets of $622,720 with a $516,756 gain recorded in 2024 as compared to a loss of $105,964 in 2023, higher revenues of $590,362, lower selling, general and administration expenses of $529,185, lower other income (expense) of $493,011, and lower depreciation and amortization expense of $137,550.

 

36

 

Below we set forth a summary of comparative financial information for the nine-months ended September 30, 2024 and 2023:

 

   

September 30, 2024

   

September 30, 2023

   

Change

 

Revenue

  $ 1,417,158     $ 826,796     $ 590,362  
                         

Operating Expenses:

                       

Selling, general and administrative expenses

    9,496,719       10,025,904       (529,185 )

Research and development

    4,880,847       4,426,543       454,304  

Depreciation and amortization

    1,875,151       2,012,701       (137,550 )

Impairment of intangible assets

    8,667,869             8,667,869  

Impairment of properties, plant and equipment

    324,047             324,047  

Gain on sale of Facility

          (7,304,570 )     7,304,570  

Total operating expenses

    25,244,633       9,160,578       16,084,055  
                         

Income (loss) from operations

    (23,827,475 )     (8,333,782 )     (15,493,693 )
                         

Other Income (Expense)

                       

Gain on investments

          13,309,875       (13,309,875 )

Interest expense

    (2,298,098 )     (1,312,154 )     (985,944 )

Interest income

    220,587       179,942       40,645  

Change in fair value of derivative instruments

    516,756       (105,964 )     622,720  

Gain (loss) on conversion of debt

    (3,690,760 )     51,856       (3,742,616 )

Loss on debt extinguishment

    (744,256 )           (744,256 )

Other income (expense)

    (741,929 )     (1,234,940 )     493,011  

Total other income (expense), net

    (6,737,700 )     10,888,615       (17,626,315 )
                         

Net income (loss)

  $ (30,565,175 )   $ 2,554,833     $ (33,120,008 )
                         

Net income (loss) attributable to noncontrolling interest

  $ (62,196 )   $ 1,327,283     $ (1,389,479 )
                         

Net income (loss) attributable to Comstock Inc.

  $ (30,502,979 )   $ 1,227,550     $ (31,730,529 )

 

RESULTS OF OPERATIONS

 

Nine-Months Ended September 30, 2024 Compared to Nine-Months Ended September 30, 2023

 

Revenues for the nine-months ended September 30, 2024, increased $590,362 to $1,417,158 from $826,796 for the comparable 2023 period, primarily due to higher revenues from the Mackay mineral lease of $681,251 and revenues from Comstock Metals of $136,157 partially offset by lower revenues from the ABTC lease of $237,473 in 2023. 

 

Revenue and costs of sales in future periods will vary significantly depending on a number of factors, including the amount of solar panels that we recycle and the amount of renewable energy technology solutions that we license and sell, lease revenues on our properties, the market prices for those services, the extent to which we secure and collect reasonable royalties, the degree to which we can provide event-driven engineering services, and the costs associated with each component of the aforementioned revenues.

 

Selling, general and administrative expense for the nine-months ended September 30, 2024 decreased by $529,185 to $9,496,719 from $10,025,904 in the comparable 2023 period, primarily as a result of lower insurance expense of $406,012, lower bad debt expense $220,269, lower employee related costs of $190,369, lower marketing expense of $187,075 and lower legal fees of $157,381; partially offset by higher consulting fees of $413,495 and higher share based compensation expense of $272,387.

 

Research and development expenses for the nine-months ended September 30, 2024 increased by $454,304 to $4,880,847 from $4,426,543 in the comparable 2023 period. The increase is primarily related to higher rent expense of $1,430,046 attributed to the AST research and development rent of $1,208,180 paid in April 2024 (see Note 7, Leases) and higher costs for processing crushing and separating electrification products of $602,356; offset partially by lower employee costs of $1,283,859 for salaries and incentive compensation and lower consulting fees of $355,283.

 

Depreciation and amortization during the nine-months ended September 30, 2024 decreased by $137,550 to $1,875,151 from $2,012,701 in the comparable 2023 period. The decrease is primarily related to lower amortization for impaired intangible assets in 2024. 

 

Impairment of intangible assets and properties, plant and equipment assets for the three-months ended September 30, 2024 of $8,667,869 and $324,047, respectively, was attributed to the impairment of intangible assets and equipment in 2024 (see Note 4, Properties, Plant and Equipment, Net and Mineral Rights and Note 5, Intangible Assets).  

 

In 2023, we recognized a gain on the sale of the Facility of $7,304,570, with no comparable amount in 2024.

 

Gain on investments for the nine-months ended September 30, 2024 decreased by $13,309,875 to $0 from $13,309,875 in the comparable 2023 period. The decrease is primarily related to the 2023 realized gain of $597,248 on the sale of 1,500 shares of our Green Li-ion investment and the adjusted fair value unrealized gain of $14,577,627 recorded on the remaining 35,662 Green Li-ion preferred shares at $530.34 per share; offset by $1,865,000 in loss on the ABTC investment as we sold 9,076,923 ABTC shares for the nine-months ended September 30, 2023, with no comparable amount in 2024.

 

Interest expense for the nine-months ended September 30, 2024, increased by $985,944 to $2,298,098 from $1,312,154 for the comparable 2023 period, primarily due to interest and related amortization of the original issue discount (“OID”) on the 2023 Kips Bay Note and 2023 Alvin Fund Note originating in the fourth quarter of 2023 and the 2024 Leviston Note and 2024 Kips Bay Note originating in the third quarter of 2024.

 

Interest income for the nine-months ended September 30, 2024, of $220,587 was comparable to 2023 of $179,942. 

 

37

 

Change in fair value of our derivative instruments for the nine-months ended September 30, 2024, increased by $622,720 to a gain of $516,756 in 2024 compared to a loss in 2023 of $105,964 resulting from an increase in the Company's share price in connection with potential make whole obligations for minimum value commitments on the Company’s common shares. The 2024 gain was attributed to gain of $1,460,875 on the derivative liability for the 2023 Kips Bay Note, gain of $594,000 for the Haywood investment, gain of $130,000 on the derivative liability for the 2024 Leviston Note, partially offset by a $860,691 loss for the LINICO investment, loss of $120,000 for the 2024 Kips Bay Note, and $687,428 loss for the GenMat investment. The 2023 loss was attributed to a loss of $1,099,587 on the derivative liability for the Ionic Note, partially offset by a gain of $455,000 for the LINICO investment, $343,623 for the GenMat investment and $195,000 for the Haywood investment.  

 

Loss of $3,690,760 on conversion of debt for the nine-months ended September 30, 2024 are attributed to the 2023 Kips Bay Note and 2024 Leviston Note debt conversions associated with 22,412,980, and 24,680,175, respectively of the Company's common shares used for the conversion during the nine-months ended September 30, 2024. Gain of $51,856 on conversion of debt for the nine-months ended September 30, 2023 are attributed to the Ionic Note conversions of 9,309,375 of the Company's common shares.

 

Loss on debt extinguishment of $744,256 attributed to the debt modifications for the Amended GHF 2021 Note and Amended Alvin Fund 2023 Note and from the Company using cash to redeem $500,000 of principal on the 2023 Kips Bay Note at a 10% redemption premium totaling $50,000 and loss on debt extinguishment of $172,634.

 

Other income (expense), net, for the nine-months ended September 30, 2024 were $741,929, primarily consisting of income recognized on SSOF deposits of $400,000 and unrealized gain on fair value change of GenMat advances of $493,892, partially offset by losses from our equity method investments of $1,675,069 substantially all of which were from GenMat.

 

Other income (expense), net, for the nine-months ended September 30, 2023 were $1,234,940, primarily consisting of losses from our equity method investments of $1,337,801 substantially all of which were from GenMat.

 

OUTLOOK

 

Our goal is to Accelerate the Commercialization of Hard Technologies for the Energy Transition. We are pushing the boundaries of what is possible in technology and sustainability by leveraging our teams’ unique skills, our diverse technology portfolio and our frontier research and development networks toward achieving breakthrough innovations that deliver meaningful positive impact across industries, economies and communities. The primary focus for 2024 is the commercialization and capitalization of our businesses and the continuous innovation, development, engineering and actionable commercialization of our technologies and solutions.

 

Technology Readiness

 

The Company’s biorefining technologies are commercially ready and offer growth-enabling performance for the Company’s prospective customers. Comstock Fuels is actively engaged in the planning and deployment of our first commercial demonstration facility and pursuing joint development and licensing agreements representing strategic capital and future revenue sources from technical and engineering services, including securing associated supply chain participants, performing preliminary and final engineering, facilitating commissioning, construction and operations with globally recognized current and developing renewable fuel producers.

 

Comstock Metals is also commercially ready and has constructed and commissioned its first commercial demonstration facility. The facility is operating on one shift and is currently expanding to three shifts over the next two to three months. Site selection, design and permitting is currently underway for the first “Industry Scale” photovoltaic recycling facility and related storage capacity. Industry Scale facilities are anticipated to scale up to 15-20 times the capacity of the operating demonstration facility (that is, from approximately 5,000-7,000 tons per annum of capacity for the demonstration facility up to 100,000 tons per annum of capacity for Industry Scale).

 

Regional site assessment and selection activities are ongoing for the next two facilities.

 

Comstock’s team has decades of diverse technology development and commercialization experience. The Company uses a disciplined approach to devising, qualifying, and elevating innovations from conception through increasing degrees of commercial readiness. The Company has adopted a widely used Technology Readiness Level (“TRL”) measurement system for objectively assessing Comstock’s progress, risks, investment qualifications, and commercial maturity.

 

There are nine readiness levels on the TRL scale, starting with TRL 1. Progression up the scale requires achievement of “SMART” milestones that are Specific, Measurable, Achievable, Relevant, and Timely. Proof of concept occurs at TRL 3. TRL 4 and 5 involve increasing degrees of process validation. TRL 6 is the first true demonstration of commercial readiness. TRL 7 and 8 involve various functional prototypes and pilots with increasing fidelity and sophistication. A TRL 9 technology is commercially mature and fully deployed. Depending on the technology and other applicable factors, revenue can commence at TRL 6 for early adopting and generally sophisticated commercial clients with continued development to TRL 7, 8, and 9.

 

Each of our lines of developing businesses have achieved sufficiency for certain aspects of their technology readiness enabling early adoption and commercialization efforts.

 

The following summarizes the recent change in TRL status, and the 2024 objectives:

 

Line of Business

 

Technology

 

12/2023

 

12/2024 Goal

             

Lignocellulosic Fuels

 

Conversion of under-utilized woody biomass into renewable fuels at high yield

 

TRL 6

 

TRL 6

             

Metals

 

Scalable extraction of metals from electrification products

 

TRL 6

 

TRL 7

             

Mining

 

Reduced exploration costs with hyperspectral imaging and AI-based analytics

 

TRL 3

 

TRL 6

             

Artificial Intelligence

 

AI that simulates new materials at exponentially increased speed

 

TRL 3

 

TRL 4

 

 

Comstock’s SMART milestones and commercialization process involve meticulous planning that is informed by many factors, including the total addressable markets, their growth rates and the speed that the Company can initiate and increase revenue.

 

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Commercialization Lines of Business

 

Comstock Fuels

 

Most current forms of renewable fuel draw from the same pool of conventional feedstocks, including corn and vegetable oils in the U.S., but the entire available supply of those feedstocks could only meet a small fraction of the rapidly growing demand for renewable fuels. Comstock's patented and patent-pending biorefining technologies unblock that constraint by converting underutilized lignocellulosic or "woody" biomass into biointermediates for refining drop-in and other renewable fuels.

 

Comstock Fuel’s objectives for the fourth quarter of 2024 include:

 

  Execute multiple, revenue generating commercial agreements for industry-scale joint developments;
 

Advancing and expanding our innovation network for even higher yields and lower costs; and

 

Expand our integrated bio-intermediate production system, including cellulosic ethanol and HBO.

 

Additionally, closing on the $200 million SBCC direct equity and/or debt financing, enables our first commercial demonstration facility which is designed to be profitable and to confirm the scale of multiple industry facilities. Then, the Company plans to build its own, three U.S. based industrial scale facilities designed for inputs of up to 1 million tons per year of woody biomass feedstock and producing up to 125 million GGE of advanced biofuels, including renewable diesel and sustainable aviation fuels. Our commercialization plans also includes multiple, global joint development projects, with each joint development project, like SACL, with the potential for generating in millions of dollars of technical services and engineering revenues and license agreements for additional production facilities that generate royalty revenues.

 

Comstock Metals

 

End of life solar panels are one of the primary metals-based products that can cause a massive amount of pollution if simply allowed to be landfilled at the end of life with no recovery of any of the underlying metal values.

 

Comstock Metal’s objectives for the fourth quarter of 2024 include:

 

 

Commencing full, three-shift production of the demonstration scale production facility;

  Confirming the ongoing ability to fully and cleanly reprocess and reuse all residual materials;
  Advancing the technology readiness for broader material recycling, prioritizing photovoltaics, to TRL 7;
 

Expanding our existing revenue generating decommissioning, supply and offtake commitments; and

 

Commencing permitting for our first “industry-scale” facility in Silver Springs, NV. 

 

Comstock Metals is operating its demonstration scale production facility in Silver Springs, NV, and has also secured the initial county level permits for industry-scale operations and storage and is actively engaged in garnering expanded revenue generating supply. Additionally, closing on the $22 million direct equity and/or debt financing, accelerates the deployment of the next two commercial demonstration facilities. Comstock Metals is also further expanding our business into decommissioning services both as a revenue generator and a feeder for our recycling business, and establishing markets for the sale of residual material including aluminum, glass and silver.

 

Comstock Mining

 

The Company has amassed the single largest known repository of historical and current geological data within the Comstock mineral district, including extensive geophysical surveys, geological mapping, and drilling data, including the Dayton resource.

 

On June 30, 2023, the Company signed a Mineral Exploration and Mining Lease Agreement (the “Mining Lease”) with Mackay. Mackay paid a lease initiation fee of $1,250,000 and made additional, quarterly lease payments to date totaling approximately $2,000,000. 

 

The Company’s objectives for the fourth quarter of 2024 include:

 

 

Receive cash proceeds of more than $2 million from mineral leases and asset sales leveraging the northern district claims;

 

Commercialize mineral development agreements that enable resource expansion of the central district claims; and

 

Complete the preliminary mine plans that enables the economic development of the southern district claims.

 

The Company’s 2024 efforts apply economic analysis to Comstock’s existing gold and silver resources progressing toward preliminary economic feasibility for the southern part of the district and the ultimate development of full mine and reclamation plans and the development of post productive land and community development plans. Additionally, closing on the SBCC $50 million direct equity and/or debt financing, accelerates the development of the Dayton mine plan, broader resource expansions for the southern district claims and the design and engineering of the post productive real estate and community development plans.

 

Strategic Investments

 

Investment in GenMat

 

Investment in physics-based AI is a meaningful component of Comstock’s technology innovation strategy. GenMat develops and commercializes proprietary material science based artificial intelligence models for the discovery and manipulation of matter. This includes AI models that can be employed today, for commercial use on GenMat’s existing, high-performance computing platforms. Comstock has a minority investment interest in GenMat.

 

39

 

GenMat's AI uses atoms and molecules to generate physical systems and harness math and science to discover new materials in an exponentially shorter time than traditional methods allow. New material discovery typically takes many years and many millions of dollars. GenMat's AI can simulate thousands of unique new materials in seconds.

 

The Company is integrating GenMat’s capabilities into its own advanced innovation capacity and plans elevating new material simulation to TRL 6 by simulating, synthesizing and directly testing the AI’s ability to predict material properties to confirm the precision and accuracy of those simulations, for both Comstock and third-party material developments and breakthroughs.

 

Investment in Green Li-ion

 

Green Li-ion continues making meaningful progress in the development and deployment of its system that remanufactures critical precursor cathode active materials (“PCAM”), having now deployed its first commercial battery remanufacturing facility from fully recycled battery materials deployed. The Company intends to sell the remaining 35,662 Green Li-ion preferred shares in 2025.

 

Investments in others non-mining real estate, water rights and securities

 

The Company has announced an indicative agreement selling its non-mining real estate and water rights for $50 million in gross (approximately $47 million in net proceeds) during the fourth quarter of 2024.

 

LIQUIDITY AND CAPITAL RESOURCES

 

Our financial position and liquidity are based on our net sources of capital from financing as generally compared to our net uses of capital from investing activities and ultimately, our ability to generate cash flows from our operations. Our cash balances at September 30, 2024 and December 31, 2023 were $1,363,327 and $3,785,577, respectively. The Company had current assets of $29,885,153 and current liabilities of $12,205,732, representing working capital excess of $17,679,421 at September 30, 2024.

 

The current liabilities include derivative liabilities of $1,250,000 for the contingent make-whole liabilities and $6,053,784 of accrued expenses and other liabilities, including $3,243,853 for the remaining LINICO make whole provision, $1,082,813 for incentive compensation and $768,174 for accrued payroll and related expenses.

 

Our primary source of liquidity during the first nine-months of 2024 was cash from financing activities. During the nine-months ended September 30, 2024, we generated $14,058,395 in cash from our financing activities and we used $9,617,985 and $6,862,660, respectively, in cash in our operating and investing activities.

 

During the nine-months ended September 30, 2024, the Company issued 3,318,014 shares of common stock to Tysadco, for an aggregate sales price of $1,213,710 at an average price per share of $0.37.

 

On September 19, 2024, the Company entered into a securities purchase agreement (“2024 Kips Bay Agreement”) for an unsecured convertible promissory note (the “2024 Kips Bay Note”) with Kips Bay Select, LP ("Kips Bay") with a principal amount of $5,319,149, of which $319,149 was an original issue discount. The full principal is due on January 19, 2026. Interest is payable monthly at a rate of 6% annually. On September 19, 2024, Kips Bay funded an initial tranche of $3,500,000, which shall result in an aggregate principal amount of $3,723,404 ($3,500,000 in cash plus original issue discount of $223,404). On October 30, 2024, the Company may elect to request an additional funding of $1,500,000, which shall result in a principal amount for such second tranche of $1,595,745 ($1,500,000 in cash plus $95,745 of original issue discount). The Company can redeem the 2024 Kips Bay Note for cash 30-days following closing at 120% of the face value, plus accrued interest. 

 

On July 19, 2024, the Company entered into a securities purchase agreement (“2024 Leviston Agreement”) for an unsecured convertible promissory note (the “Leviston Note”) with Leviston Resources LLC ("Leviston") with a principal amount of $2,717,500, of which $2,500,000 was funded and $217,500 was an original issue discount. The full principal was due on October 31, 2025. Interest was payable monthly at a rate of 8% annually. The Company could redeem the Leviston Note for cash 30-days following closing at 125% of the face value, plus accrued interest. As of September 30, 2024, the Company delivered 24,680,175 shares of common stock with a fair value of $3,957,052 at an average conversion price per share of $0.16 upon the conversion of a principal balance of $2,717,500 and accrued interest of $16,082. The Company agreed to, and on August 6, 2024, issued Leviston (i) 337,787 restricted shares of the Company’s common stock representing 2% of the principal amount, based on a price per share equal to the 20-day VWAP for the period beginning on the 10th trading day prior to the closing of the Leviston Note and ending on the 10th trading day after the closing of the Leviston Note (the “VWAP Period”), and (ii) 506,681 registered shares of the Company’s common stock representing 3% of the principal amount of the Leviston Note, based on a price per share equal to the 20-day VWAP for the VWAP Period, in each case, for no additional consideration. As of September 30, 2024, the Leviston Note was fully converted.

 

On March 25, 2024, the Company entered into an equity purchase agreement (“2024 ClearThink Agreement”) with ClearThink Capital Partners LLC (“ClearThink”) to offer and sell restricted and registered shares of common stock of the Company at an aggregate offering price of up to $5,000,000 from time to time, at our option, on terms we deem favorable. On March 26, 2024, the Company filed a prospectus supplement to the registration statement on Form S-3, dated March 28, 2022, that registered for resale these shares issued pursuant to the 2024 ClearThink Agreement. As of September 30, 2024, the Company issued 20,787,773 registered shares of common stock to ClearThink for an aggregate sales price of $4,250,000 at an average price per share of $0.20. On July 18, 2024, the Company elected to terminate all future offers and sales pursuant an Equity Purchase Agreement (the “Sales Agreement”) with ClearThink Capital Partners LLC (“ClearThink”) and the Company filed a prospectus supplement to reflect the reduction in the aggregate offering dollar amount of securities to be offered and sold from $5,000,000 to $4,250,000, and accordingly, the 2024 ClearThink Agreement has no remaining capacity. 

 

On December 27, 2023, the Company entered into a securities purchase agreement for an unsecured convertible promissory note (the "Kips Bay Note") with Kips Bay Select LP ("Kips Bay") with a principal amount of $5,263,157, of which $263,157 was OID. The full principal is due on March 27, 2025. Interest is payable monthly at a rate of 8% annually. The Company received $3.0 million on December 27, 2023 and received the remaining $2.0 million by January 27, 2024. On January 11, 2024, the Company issued 308,931 restricted shares of its common stock equal to 3% of the principal amount of the Kips Bay Note, or $157,895 at $0.511 per share. On January 16, 2024, the Company issued an additional 180,210 registered shares of its common stock equal in value to 1.75% of the additional $2.0 million in principal amount of the Kips Bay Note, or $92,105, also at $0.511 per share. During nine-month period ended September 30, 2024, the Company delivered 22,412,980 shares of common stock with a fair value of $5,566,817 at an average conversion price per share of $0.25 upon the conversion of a principal balance of $4,263,908 and accrued interest of $181,854. On July 19, 2024, the Company redeemed $500,000 of principal on the Kips Bay Note at a 10% redemption premium, for $550,000 in cash. 

 

40

 

We intend to fund our operations over the next twelve months from planned sales of non-strategic assets and other investments, issuance of equity under our existing shelf registration statement and private placements, issuance of subsidiary-level equity, planned licensing and related engineering services, sales and deferred revenue from our solar panel recycling business and existing cash and cash equivalents. Based on these expected funding sources, management believes we will have sufficient funds to sustain our operations and meet our commitments under our investment agreements during the 12 months following the date of issuance of the condensed consolidated financial statements included herein. While we have been successful in the past in obtaining the necessary capital to support our operations, including registered equity financings from our existing shelf registration statement, non-registered equity placements, non-registered equity issued directly from certain subsidiaries, borrowings, and various other means. There is no assurance we will be able to obtain additional equity capital or other financing, if needed. We intend to fund our operations beyond the next twelve months from planned sales of non-strategic assets, sales from our solar panel recycling operations, sales from licensing our lignocellulosic technology and related engineering services, issuance of subsidiary-level equity, and borrowings and other various equity financing alternatives from our existing shelf and other registration statements.

 

Net cash used in operating activities for the nine-months ended September 30, 2024 decreased by $1,565,999 to $9,617,985 from $11,183,984 in the comparable 2023 period, due primarily to decreases in operating expenses and increases in sources of cash from working capital, primarily increases in accounts payable, discussed in Financial Condition and Results of Operating Information.

 

Net cash used in investing activities for the nine-months ended September 30, 2024 was $6,862,660, compared to net cash provided by investing activities of $6,457,386 in the comparable 2023 period, resulting in a $13,320,046 change, primarily due to proceeds received in 2023 from sale of AQMS lease and related assets of $21.0 million offset by purchase of the facility of $12.0 million. Decrease attributed to proceeds received in 2023 for the sale of ABTC shares of $5,365,981 with no sales in 2024, funding of RenFuel note of $1,350,000, advances to GenMat of $1,235,636, proceeds from sale of Green Li-ion shares in 2023 of $779,600 and investment in SSOF of $530,000; partially offset by lower make-whole payments for our investments of $3,160,636, lower advances to SSOF of $1,470,000 and lower purchase of mineral rights and property, plant and equipment of $710,604.

 

Net cash provided in financing activities for the nine-months ended September 30, 2024 increased $8,413,484 to $14,058,395 from $5,644,911 for the comparable 2023 period, primarily as a result of additional funding from the 2023 Kips Bay Note, 2024 Leviston Note and the 2024 Kips Bay Note of $2,000,000, $2,500,000 and $3,500,000, respectively. Increase also due to an increase in proceeds from issuance of common stock of $863,710.

 

Risks to our liquidity could result from future operating expenditures above management’s expectations, including but not limited to pre-development, research and development, exploration, selling, general and administrative, and investment related expenditures in excess of sale proceeds from our non-strategic assets and other investments, amounts to be raised from direct equity from our subsidiaries or the issuance of equity under our existing shelf registration statement or amounts to be raised directly from the non-registered equity of our subsidiaries, declines in the market value of properties planned for sale, or declines in the share price of our common stock that would adversely affect our results of operations, financial condition and cash flows. If we were unable to obtain any necessary additional funds, this could have an immediate material adverse effect on liquidity and raise substantial doubt about our ability to continue as a going concern. In such case, we could be required to limit or discontinue certain business plans, activities or operations, reduce or delay certain capital expenditures or investments, or sell certain assets or businesses. There can be no assurance that we would be able to take any such actions on favorable terms, in a timely manner, or at all.

 

CRITICAL ACCOUNTING ESTIMATES

 

There have been no significant changes to the critical accounting estimates disclosed in Management's Discussion and Analysis of Financial Condition and Results of Operations in our 2023 Form 10-K.

 

41

 

ITEM 3          QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Market Prices

 

Changes in the market price of commodities, including precious metals, critical metals and oil and gas may significantly affect our future profitability and cash flow. Metal prices fluctuate widely due to factors such as: demand, global mine production levels, supply chain constraints, investor sentiment, central bank reserves, global conflicts and the value of the U.S. dollar and other currencies.

 

Interest Rate Risk

 

The interest rates on our existing long-term debt borrowings are fixed, and as a result, interest due on borrowings are not impacted by changes in market-based interest rates.

 

There have been no material changes in the market risks discussed in Item 7A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

 

ITEM 4                  CONTROLS AND PROCEDURES

 

A. Disclosure

 

Evaluation of Disclosure Controls and Procedures

 

As of the end of the period covered by this Quarterly Report on Form 10-Q, with the participation of both our Principal Executive and Financial Officer and our Principal Accounting Officer, an evaluation of the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 ("Exchange Act") was conducted. Our disclosure controls and procedures are designed to ensure information required to be disclosed in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Exchange Act rules, and such information is accumulated and communicated to our management, including our Principal Executive and Financial Officer, to allow timely decisions regarding required disclosures. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives. Based on that evaluation, our chief executive officer concluded that our disclosure controls and procedures, including controls and procedures designed to ensure that information required to be disclosed by us is accumulated and communicated to our management (including our chief executive officer), were effective as of September 30, 2024, in assuring them in a timely manner that material information required to be disclosed in this report has been properly recorded, processed, summarized and reported.

 

Changes in Internal Control Over Financial Reporting

 

During the quarter ended September 30, 2024, there was no change in our internal control over financial reporting that materially affected or is reasonably likely to materially affect our internal control over financial reporting.

 

42

 

 

PART II - OTHER INFORMATION

 

ITEM 1                  LEGAL PROCEEDINGS

 

The Company’s business activities, including cellulosic fuels, battery recycling, storage, mining, and exploration, are subject to various laws and regulations governing environmental protection. These laws and regulations are frequently changing and generally becoming more restrictive. The Company believes its operations are compliant with applicable laws and regulations, in all material respects and continuously spends money to comply with such laws and regulations and cannot predict the full amount of such future expenditures.

 

ITEM 1A               RISK FACTORS

 

Our investors should consider the risks set forth in Part I, Item 1A, Risk Factors, of our Annual Report on Form 10-K for the year ended December 31, 2023 that could affect our business. Additionally, investors should consider the following risk factors identified since the filing of our Annual Report. 

 

Our plans to expand our revenue sources through commercializing our market-ready technologies and developing new technology with commercial applicability may not be successful and could materially adversely affect our long-term business, financial condition and operating results.

 

As part of our business strategy, we are seeking to expand our revenue sources through the continued development, commercialization and licensing of technology projects. Our technology development activities may experience delays, or the markets for our technology solutions may fail to materialize to the extent or at the rate we expect, each of which could reduce our opportunities for technology sales and licensing. In addition, there could be fewer applications for our technology and products than we expect. The development of technology markets also could be affected by general economic conditions, customer buying patterns, timeliness of equipment development, and the availability of capital for, and the high cost of, infrastructure improvements. Additionally, investing in technology development is costly and may require structural changes to the organization that could require additional costs, including without limitation legal and accounting fees. Furthermore, delays or failures to enter into additional partnering relationships to facilitate technology development efforts or delays or failures to enter into technology licensing agreements to secure integration of additional functionality could impair our ability to introduce into the market portions of our technology and resulting products, cause us to miss critical market windows, or decrease our ability to remain competitive. In addition, the commercialization of certain technologies could potentially lead to patent exhaustion or implied license issues that could limit our ability to derive licensing revenue from certain patents under our patent licensing program. In the event that any of these risks materialize, our long-term business, financial condition and operating results may be materially adversely affected.

 

We face risks from doing business in international markets.

 

A significant portion of our licensees, potential licensees and customers are international, and our licensees, potential licensees and customers sell their products to markets throughout the world. Accordingly, we could be subject to the effects of a variety of uncontrollable and changing factors, including, but not limited to: difficulty in protecting our intellectual property in foreign jurisdictions; enforcing contractual commitments in foreign jurisdictions or against foreign corporations; government regulations, tariffs and other applicable trade barriers; biased enforcement of foreign laws and regulations to promote industrial or economic policies at our expense; currency control regulations and variability in the value of the U.S. dollar against foreign currency; social, economic and political instability; natural disasters, acts of terrorism, widespread illness and war; potentially adverse tax consequences; and general delays in remittance of and difficulties collecting non-U.S. payments. In addition, we also are subject to risks specific to the individual countries in which we and our licensees, potential licensees and customers do business.

 

Our current and future licensing arrangements may not be successful and may make us susceptible to the actions of third parties over whom we have limited control.

 

We have entered into a select number of product licensing agreements with companies that plan to produce and sell products requiring specialized expertise. We have also entered into a number of select licensing agreements pursuant to which we have granted third parties certain rights to distribute and sell our products in certain geographical areas outside of the United States. In the future, we may enter into additional licensing arrangements. Although we take steps to carefully select our licensing partners, such arrangements may not be successful. Our licensing partners may fail to fulfill their obligations under their license agreements or have interests that differ from or conflict with our own, such as the timing of new store openings, the pricing of our products and the offering of competitive products. In addition, the risks applicable to the business of our licensing partners may be different than the risks applicable to our business, including risks associated with each such partner’s ability to:

 

 

 

obtain capital;

 

 

exercise operational and financial control over its business;

 

 

manage its labor relations;

 

 

maintain relationships with suppliers;

 

 

manage its credit and bankruptcy risks; and

 

 

maintain customer relationships.

 

Any of the foregoing risks, or the inability of any of our licensing partners to successfully market our products or otherwise conduct its business, may result in loss of revenue and competitive harm to our operations in regions or product categories where we have entered into such licensing arrangements.

 

ITEM 2                  UNREGISTERED SALES OF EQUITY SECURITIES AND USES OF PROCEEDS

 

On September 3, 2024, the Company issued 2,920,702 shares of unregistered restricted common stock with a fair value of $482,500 to Northern Comstock LLC as payment for obligations due under the Northern Comstock operating agreement. 

 

In August 2024, the Company issued 773,745 shares of unregistered restricted common shares with a fair value of $144,175 to Alvin Fund in lieu of cash for interest expense due under the Alvin Fund 2022 Note and the Alvin Fund 2023 Note pursuant to Section 4(a)(2) of the Securities Act.

 

On August 16, 2024, the Company issued 5,000,000 shares of restricted unregistered common stock to a single investor for $1,000,000. 

 

On August 6, 2024, pursuant to the 2024 Leviston Agreement, the Company issued to Leviston Resources LLC 337,787 restricted shares of the Company's common stock representing 2% of the principal amount of the Leviston Note based on a price per share equal to the 20-day VWAP for the VWAP period for no additional consideration. 

 

43

 

ITEM 3           DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4                  MINE SAFETY DISCLOSURES

 

Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 104 of Regulation S-K, we are required to disclose items believed to be violations of the Federal Mine Safety and Health Act of 1977, any health and safety standard, or any regulation, as administered by the Federal Mine Safety and Health Administration. The required information is included in Exhibit 95 to this Report on Form 10-Q.

 

ITEM 5                  OTHER INFORMATION

 

None.

 

ITEM 6                  EXHIBITS

 

The exhibits required to be filed as a part of this Report on Form 10-Q are listed in the Exhibit Index attached hereto, which is incorporated herein by reference.

 

(1) Exhibits filed as part of this Report:

 

See Exhibits for which the Exhibit number is noted with an asterisk on the Exhibit Index attached hereto.

 

Exhibit

Number

 

Exhibit

     
10.1   Securities Purchase Agreement (incorporated by reference to Exhibit 10.1 on Form 8-K filed September 19, 2024).
     
10.2   Convertible Note (incorporated by reference to Exhibit 10.2 on Form 8-K filed September 19, 2024).
     
10.3   License Agreement (incorporated by reference to Exhibit 10.1 on Form 8-K filed October 2, 2024).
     
10.4   Letter Agreement (incorporated by reference to Exhibit 10.1 on Form 8-K filed October 7, 2024).
     

31*

 

Certification of Principal Executive Certification of Principal Executive Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a), promulgated under the Securities Exchange Act of 1934, as amended. pursuant to Rule 13a-14(a) and Rule 15d-14(a), promulgated under the Securities Exchange Act of 1934, as amended.

     

32*

 

Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     

95*

 

Mine Safety Disclosures.

     

101*

 

Interactive Data File (Quarterly Report on Form 10-Q, for the periods ended September 30, 2024, furnished in iXBRL (Inline eXtensible Business Reporting Language)).

 

Attached as Exhibit 101 to this report are the following documents formatted in XBRL: (i) the Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023, (ii) the Condensed Consolidated Statements of Operations for the three and nine-months ended September 30, 2024 and 2023, (iii) the Condensed Consolidated Statements of Changes in Equity for the three and nine-months ended September 30, 2024 and 2023, (iv) the Condensed Consolidated Statements of Cash Flows for nine-months ended September 30, 2024 and 2023 and (v) the Notes to Condensed Consolidated Financial Statements, tagged as blocks of text. Users of this data are advised pursuant to Rule 406T of Regulation S-T that this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

     
104   Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

* Filed herewith.

# Management contract or compensatory plan.

 

44

 

The SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the date indicated.

 

COMSTOCK INC.

 

By: /s/ CORRADO DE GASPERIS

CORRADO DE GASPERIS

Executive Chairman

Chief Executive Officer

(Principal Executive Officer and 

Principal Financial Officer)

 

Date: October 22, 2024

 

 

By: /s/ MATTHEW J. BIEBERLY

          MATTHEW J. BIEBERLY

Chief Accounting Officer

          (Principal Accounting Officer)

 

Date: October 22, 2024

 

 

45