Research Reports

Key takeaways

Company and Georges Trust executed Second Note Amendment Agreement dated March 30, 2026.

Note principal remains $4,290,000, originally due April 15, 2026, now extended to July 15, 2026.

1,500,000 LODE Shares issued in August 2025; net proceeds from sales apply to Note repayment.

As of filing, LODE Shares value exceeds remaining Note principal.

Excess proceeds or shares must be returned to Company if sales exceed total payable amount.

All other Note and First Amendment terms remain substantially unchanged.

Full analysis

Comstock Inc. and Georges Trust amended the existing promissory note for the second time to provide additional runway for repayment tied to the sale of 1,500,000 LODE Shares issued under the First Amendment. The extension to July 15, 2026, avoids immediate default risk while leveraging the current share value exceeding the $4,290,000 principal. Repayment mechanics prioritize share sale proceeds to cover principal, accrued interest at 12% per annum, and future interest, with Company cash support only if monthly proceeds fall below $43,000. This structure minimizes near-term cash outflow for Comstock, preserving liquidity, but sustains the security interest until full extinguishment. Investors benefit from deferred maturity without new dilution or penalties, contingent on effective share liquidation via the registered S-3.

LODE · Comstock Inc.

Summary

Key takeaways

Full analysis