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Note 15 - Subsequent Events
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 15         SUBSEQUENT EVENTS

 

On April 6, 2026, the Company issued to Flux Photon 1,750,000 shares of common stock of the Company with a fair value of $6,055,000 determined by the closing price per share of our common stock of $3.46, to settle the remaining obligations of the Earn Out of $5,273,813 (see Note 14).  If and to the extent that the sale of the shares results in net proceeds greater than $5,273,813, then Flux Photon is 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 $5,273,813, then the Company is required to pay Flux Photon equal to such shortfall.

 

From April 6, 2026 through April 16, 2026, the Company issued a total of 63,944 shares of common stock of the Company to our non-employee directors for annual director services for the period from April 1, 2026 through June 30, 2026, pursuant to the shareholder approved Comstock Inc. 2020 and 2022 Equity Incentive Plans, for services rendered.

 

On April 30, 2026, the Company invested an additional $2,000,000 into SSOF for an additional 3,076,923 shares of SSOF common stock, also at $0.65 per share. These investments increased the Company's ownership to approximately 42.57%.

 

On May 6, 2026, the Company was notified that Georges Trust had sold the previously issued 1,500,000 shares of the Company’s common stock in connection with extinguishing a promissory note payable in 2025 (see Note 11). The net proceeds from the sale of those shares exceeded the amounts required to extinguish the principal and interest due on the note by approximately $500,000 which will be received by the Company in the second quarter of 2026.