UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-K ____________________________________________________________________ ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______ TO ______. COMMISSION FILE NO.: 001 ...

gallons of transportation fuels potential future consumption EMISSIONS REDUCTION PERFORMANCE IS INCREASINGLY IMPORTANT TO THE BIOFUEL PRODUCER VALUE EQUATION Data updated 10/16/23. 14 © 2023 COMSTOCK INC | NYSE American: LODE FOR PUBLIC RELEASE BIOLEUM™ CARBON INTENSITY IS CLASS LEADING - 60% electrified Hypothetical scenario Data updated 10/16/23. EMISSIONS REDUCTION PERFORMANCE IS INCREASINGLY IMPORTANT TO THE BIOFUEL PRODUCER VALUE EQUATION 13 © 2023 COMSTOCK INC | NYSE American: LODE FOR PUBLIC RELEASE ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ COMSTOCK INC. (Exact name of registrant as specified in its charter) Nevada 65-0955118 (State or other jurisdiction of incorporation or organization) FORM 10-Q _______________________________________________________________________ 117 American Flat Road, Virginia City, NV 89440 ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR ...

Financial Data and Key Metrics Changes - The company finalized the sale of the Proof facility, receiving $21 million in cash and $6 million in ABML stock, with net cash proceeds expected to exceed $15 million after selling the stock [2][12] - The outstanding shares increased to over 109 million, with approximately 4.7 million shares issued recently due to delays in selling ABML shares [12] - An accounting gain of over $7 million is anticipated in the third quarter P&L from the completed transaction [12] Business Line Data and Key Metrics Changes - Comstock Mining received cash proceeds of $1.25 million from a new mineral lease, expected to generate an additional $1 million in cash revenues in the upcoming quarters, plus ongoing annual revenues of over $1.5 million [17] - The company plans to sell its Silver Springs properties, with current assessments indicating values have doubled from $10 million to at least $20 million [19] - Comstock Fuels is targeting the rapidly growing market for renewable fuels, with the U.S. consuming about 2.5 to 3 billion gallons of vegetable oils annually, and expected demand for renewable fuel capacity to increase by 5 to 7 billion gallons per year [24] Market Data and Key Metrics Changes - The company is engaged with multiple potential mineral development partners to expand gold and silver resources, aiming to potentially double or triple existing resources without deploying its own capital [21] - The market for solar panel recycling is expected to grow significantly as the first wave of solar panel deployments reaches their end of life, with the company positioning itself as a low-cost recycling solution [46] Company Strategy and Development Direction - The company is focused on systematic decarbonization and energy transition through its three divisions: Comstock Fuels, Comstock Metals, and Comstock Mining [3] - Strategic investments include Genmat, which is developing innovative material solutions and has secured regulatory approval for a satellite launch to enhance mineral prospecting capabilities [13][15] - The company aims to commercialize its technologies and generate revenue while expanding its market presence in renewable fuels and metals recycling [36][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the renewable fuels market, highlighting the company's readiness to scale up production and secure commercial agreements [36][61] - The company is actively engaging with institutional investors to validate its technologies and market position, with plans for non-deal roadshows to increase visibility [57] - Management emphasized the importance of unlocking the value of its technologies and generating revenue, indicating a strong growth trajectory for the company [73] Other Important Information - The company has initiated a quarterly investor survey to gather feedback and strengthen investor relations [9] - The launch of Genmat's CubeSat for mineral discovery is scheduled for later this year, which is expected to enhance the company's exploration capabilities [15][82] Q&A Session Summary Question: What updates are available regarding the potential for commercial agreements in the Fuels division? - Management indicated that they are very close to finalizing agreements and are actively engaging with potential refinery partners [58][59] Question: What is the financial outlook regarding cash flow expectations and future financing needs? - The company is positioned to monetize current investments, including $6 million from ABML stock and proceeds from the sale of Green Lion shares, which should address immediate cash flow needs [76] Question: Can you provide more details on the solar recycling business and its market potential? - The initial launch of the solar recycling business is expected at the beginning of next year, targeting a significant market as solar panels reach their end of life [78][79]

Financial Performance - Net loss for the three months ended June 30, 2023 decreased by $8,586,008 to $5,504,589 from a loss of $14,090,597 for the comparable 2022 period [165]. - Net loss for the six months ended June 30, 2023 decreased by $9,451,289 to $11,186,331 from a loss of $20,637,620 for the comparable 2022 period [179]. - Revenue for the six months ended June 30, 2023, decreased by $41,475 to $66,075 compared to $107,550 in the same period of 2022, primarily due to lower revenues from operating leases after the sale of the Daney Ranch [182]. Expenses - Selling, general and administrative expenses increased by $990,279 to $3,498,852 from $2,508,573 in the comparable 2022 period, mainly due to higher employee costs [170]. - Selling, general and administrative expenses increased by $1,974,485 to $6,885,824, driven by higher employee costs and marketing expenses [184]. - Research and development expenses decreased by $815,846 to $1,763,304 from $2,579,150 in the comparable 2022 period, attributed to lower costs related to pilot scale systems [171]. - Research and development expenses decreased by $742,885 to $3,031,683, mainly due to lower costs related to pilot scale systems for processing biomass and lithium-ion batteries [185]. - Interest expense rose by $354,589 to $991,339, attributed to interest and amortization on promissory notes [188]. - Interest income fell by $251,477 to $106,875, due to the extinguishment of certain note receivables [189]. Derivative Instruments - Change in the fair value of derivative instruments increased by $9,754,617 to a gain of $1,564,617 from a loss of $8,190,000 in the comparable 2022 period [176]. - The change in fair value of derivative instruments resulted in a gain of $2,263,212, an increase of $7,388,212 compared to a loss of $5,125,000 in 2022 [190]. Company Strategy and Objectives - The company demonstrated commercial readiness with yields approaching 100 gallons of fuel per dry ton of feedstock on a gasoline gallon equivalent basis [160]. - The company plans to secure revenue-generating supply commitments in its expanded metals recycling business as a key objective for 2023 [161]. - GenMat plans to elevate new material simulation to commercial readiness by synthesizing and directly testing new AI simulated materials in high-value applications in 2023 [163]. - The company aims to achieve commercialization of its biorefining technologies and expects capital expenditures of approximately $2 million for its first commercial demonstration facility in 2023 [196]. - The company plans to secure cash proceeds of over $2 million from new mineral leases and execute early adopter license agreements for commercial scale projects in 2023 [208]. Investments and Assets - Comstock Mining signed a 20-year Mining Lease Agreement with Mackay Precious Metals, receiving an initial fee of $1,250,000 and quarterly payments totaling $375,000 for the first four years [207]. - Comstock has a 48.19% investment interest in Quantum Generative Materials LLC (GenMat), which focuses on generative artificial intelligence for material discovery [211]. - GenMat's AGI can simulate thousands of unique new materials in seconds, significantly reducing the time and cost compared to traditional methods [212]. - The company expects to complete the monetization of over $30 million in sales of non-strategic assets during 2023 [214]. - For the six months ended June 30, 2023, the company generated $21.0 million from ABTC and expects to sell 9,076,923 restricted shares of ABTC common stock, yielding a minimum of $6.0 million in proceeds [214]. Cash Flow and Liquidity - Current assets were $41,122,241 and current liabilities were $44,349,777, resulting in a working capital deficit of $3,227,536 as of June 30, 2023 [216]. - Net cash used in operating activities decreased by $1,036,673 to $6,678,030 for the six months ended June 30, 2023, compared to $7,714,703 in the same period of 2022 [227]. - Net cash provided by investing activities increased by $3,185,496 to $3,701,641 for the six months ended June 30, 2023, primarily due to proceeds from the sale of the AQMS lease and related assets [228]. - Net cash provided in financing activities decreased by $3,591,355 to $2,040,330 for the six months ended June 30, 2023, compared to $5,631,685 in the same period of 2022 [229]. - The company intends to fund operations over the next twelve months from existing cash, planned sales of non-strategic assets, and other investments [226]. - Risks to liquidity may arise from future operating expenditures exceeding management's expectations, which could adversely affect financial condition and cash flows [230].

Comstock Inc. (NYSE:LODE) Q1 2023 Earnings Conference Call May 3, 2023 4:15 PM ET Company Participants Will Maze - IR, RB Milestone Corrado De Gasperis - Executive Chairman and CEO William McCarthy - COO Conference Call Participants Will Maze Ladies and gentlemen, welcome to Comstock's First Quarter 2023 Business Results Webcast. This is Will Maze with RB Milestone. Ladies and gentlemen, welcome to Comstock's First Quarter 2023 Business Results Webcast. This is Will Mas with RB milestone. For those of you n ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______ TO ______. COMMISSION FILE ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-K _______________________________________________________________________ ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 COMMISSION FILE NO.: 001-35200 COMSTOCK INC. (Exact name of registrant as specified in its charter) Nevada 65-0955118 (State or other jurisdiction of incorporati ...

Comstock Mining Inc. (NYSE:LODE) Q3 2022 Earnings Conference Call October 31, 2022 12:15 PM ET Company Participants Corrado De Gasperis - Executive Chairman & CEO Zach Spencer - Director-External Relations, Treasurer and Secretary Conference Call Participants Operator Ladies and gentlemen, welcome to Comstock's 2022 Third Quarter business results webcast. Here is Comstock's Executive Chairman and CEO; Mr. Corrado De Gasperis. Corrado De Gasperis Good afternoon, everyone, and welcome to Comstock Inc.'s third ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2022 COMMISSION FILE NO.: 001-35200 COMSTOCK INC. (Exact name of registrant as specified in its charter) Nevada 65-0955118 (State or other jurisdiction of in ...