Core Insights - Comstock Inc. has successfully strengthened its capital base, eliminated debt obligations, and is advancing its industry-scale metals launch, particularly in solar panel recycling and mining operations [1][6][11]. Financial Performance - For the nine months ended September 30, 2025, Comstock raised $34.5 million in gross proceeds from an oversubscribed equity offering, adding over 30 institutional investors to its capital base [6]. - The company reported net current assets of $21.3 million, with cash and cash equivalents totaling $31.7 million as of September 30, 2025 [6][7]. Business Developments - Comstock has ordered all equipment for its fully automated solar recycling system and is on track to receive the necessary permits for its first facility, which is expected to recycle over 3.3 million solar panels annually [4][24]. - The company has committed approximately $12.5 million in capital expenditures for its first industry-scale facility, with operations expected to commence in the second quarter of 2026 [7][25]. Strategic Partnerships and Acquisitions - Comstock has entered into a Master Services Agreement with RWE Clean Energy for end-of-life recycling services, enhancing its strategic partnerships [13]. - The acquisition of Haywood industrial mineral properties and additional land has expanded Comstock's mineral portfolio, supporting its mining operations [10][14]. Market Position and Future Outlook - The company is positioned to capitalize on the increasing demand for industrial silver and the anticipated growth in solar panel recycling, with expectations of billable revenues increasing eightfold in 2025 compared to 2024 [11][25]. - Comstock aims to establish up to seven industry-scale recycling facilities across the U.S., enhancing its market leadership in the renewable metals sector [24][21].

Revenue and Financial Performance - The Metals Segment generated $0.4 million in revenue during 2024, with billable revenues increasing nearly six-fold in the first nine months of 2025 due to decommissioning services and recycling end-of-life solar panels [210]. - Revenue for the three-months ended September 30, 2025 decreased by $502,304 to $54,079 from $556,383 in 2024, primarily due to lower revenues from the Mining Segment and Comstock Metals operations [233]. - For the nine-months ended September 30, 2025, revenue decreased by $237,718 to $1,179,440 from $1,417,158 in 2024, with future revenues expected to vary based on several operational factors [247]. - The company expects billable revenues to be over $3.5 million in 2025, which is projected to be eight times greater than in 2024 [272]. Costs and Expenses - Cost of goods sold for the three-months ended September 30, 2025 increased by $324,397, attributed to the commencement of the first commercial demonstration facility for metal recycling operations [234]. - Selling, general and administrative expenses for the three-months ended September 30, 2025 increased by $2,933,638 to $6,110,011, driven by higher employee-related costs and acquisition-related expenses [235]. - Research and development expenses for the three-months ended September 30, 2025 increased by $789,471 to $2,229,838, mainly for renewable fuel projects with external laboratories [236]. - Depreciation and amortization for the three-months ended September 30, 2025 increased by $599,790 to $1,162,246, primarily due to higher amortization of intangible assets [237]. Net Loss and Gains - Net loss for the three-months ended September 30, 2025 was $12,888,336, an improvement of $2,106,247 compared to the net loss of $14,994,583 in 2024 [232]. - The company recognized a gain on the conversion of debt to equity of $242,664 for the three-months ended September 30, 2025, compared to a loss of $2,218,694 in 2024 [242]. - The company recognized a loss of $3,088,167 on the conversion of debt to equity for the nine-months ended September 30, 2025, compared to a loss of $3,690,760 in 2024 [257]. Cash Flow and Financing - Cash balances at September 30, 2025, were $31,712,352, significantly up from $954,271 at December 31, 2024 [283]. - The company generated $60,341,689 in cash from financing activities during the nine-months ended September 30, 2025, compared to $14,058,395 in the same period of 2024 [287]. - The Company entered into a securities purchase agreement for an unsecured convertible promissory note with a principal amount of $10,638,298, with $5,000,000 funded in cash on January 13, 2025, and the remaining $5,000,000 funded on March 11, 2025 [293]. - The Company agreed to pay $2,500,000 in cash and issue 447,724 shares of Common Stock to Kips Bay in full satisfaction of its obligations under the Note [293]. Investments and Future Plans - The company plans to build up to seven recycling facilities in the U.S. over the next five years to support energy independence and deliver economic and environmental value [212]. - The company plans to build up to 7 industry-scale U.S. based recycling facilities, with the first facility expected to have a capacity of 100,000 tons annually, commencing operations in Q2 2026 [270]. - Bioleum plans to produce up to 200 million barrels of renewable fuel per year by 2035, starting with a 400,000 barrel per year facility in Oklahoma [219]. - Bioleum has negotiated exclusive rights to intellectual properties for producing energy crops, with proven yields exceeding 25 to 30 dry metric tons per acre per year [219]. Market Risks and Liquidity - Risks to liquidity may arise from future operating expenditures exceeding management's expectations, including research and development and capital expenditures [295]. - The Company may need to limit or discontinue certain business plans or operations if unable to obtain necessary additional funds, which could adversely affect liquidity [295]. - Changes in market prices of commodities, including precious metals and oil, may significantly affect future profitability and cash flow [297]. - The interest rates on existing long-term debt borrowings are fixed, insulating the Company from market-based interest rate changes [298]. Other Financial Metrics - Interest expense for the three-months ended September 30, 2025 decreased by $360,920 to $336,076, due to lower interest and amortization of original issue discount [239]. - Interest income for the three-months ended September 30, 2025 increased by $231,847 to $312,862, primarily from higher accrued interest related to the RenFuel note receivable [240]. - Interest expense decreased by $528,816 to $1,769,282 for the nine-months ended September 30, 2025, down from $2,298,098 in 2024 [254]. - Interest income increased by $343,084 to $563,671 for the nine-months ended September 30, 2025, compared to $220,587 in 2024 [255]. - The fair value change of derivative instruments resulted in a gain of $433,991 for the nine-months ended September 30, 2025, down from a gain of $516,756 in 2024, a decrease of $82,765 [256]. - There have been no significant changes to the critical accounting estimates disclosed in the 2024 Form 10-K [296]. - There have been no material changes in the market risks discussed in the Annual Report for the fiscal year ended December 31, 2024 [298].

Group 1 - Comstock Inc. will participate as a Silver Sponsor at the 51st Annual New Orleans Investment Conference from November 2-5, 2025, with CFO Judd B. Merrill presenting on November 3rd [1] - The New Orleans Investment Conference is a prominent event that gathers successful analysts, newsletter writers, and investors to explore major asset classes, including equities [2][3] - The conference has a rich history of featuring notable speakers, including former political leaders and economists, which adds to its prestige [4] Group 2 - This year's speaker lineup includes influential figures such as Robert Kiyosaki, Peter Schiff, and Mary Katharine Ham, indicating a diverse range of insights and expertise [5][6] - Comstock Inc. focuses on innovating and commercializing technologies for clean energy systems, particularly through the extraction and conversion of under-utilized natural resources into reusable metals [7]

Core Insights - Comstock Inc. (LODE) is set to report its third-quarter 2025 results on October 30, with total sales expected to reach $0.99 million, reflecting a 76.8% increase year-over-year [1][5] - The consensus estimate for earnings indicates a loss of 18 cents per share, an improvement from the loss of 30 cents per share in the same quarter last year [1][5] - The company has a trailing four-quarter negative earnings surprise of 47.94% on average [2][3] Financial Performance - Total revenues for Comstock in the first half of 2025 were reported at $1.12 million, marking a 31% increase year-over-year, with the Metals segment contributing approximately 93% of total revenues [6] - The Metals segment generated revenues of $1.05 million in the first half of 2025, a significant increase from $0.007 million in the prior-year period [7] - Mining revenues were reported at $0.06 million in the first half of 2025, down 92% year-over-year, primarily due to the termination of the Mackay Mining Lease [8] Segment Analysis - Comstock operates through five segments: Fuels, Metals, Mining, Strategic Investments, and Corporate, with the Metals segment being the primary growth driver [4] - The Fuels segment focuses on converting biomass into renewable fuels, while the Mining segment includes gold and silver mining assets [4] - Higher revenues from the Metals segment are expected to offset weaker results from the Mining segment in the upcoming quarter [10] Cost and Profitability - The cost of goods sold is anticipated to be higher in the third quarter due to underutilization of the commercial demonstration facility and increased research and development costs [9] - Rising employee-related and consulting costs, along with additional rent expenses, are also expected to impact profitability [9] Stock Performance - Comstock's shares have declined by 62% year-to-date, contrasting with the industry's growth of 109% [13]

Core Insights - Comstock Inc. will host a webinar on October 30, 2025, at 11:30 am ET to discuss recent financial results and business updates [1][2] - The webinar will include a Q&A session where participants can submit questions in advance [2] - Comstock Inc. focuses on innovating and commercializing technologies for clean energy systems, particularly in extracting and converting natural resources into reusable metals [3] Company Overview - Comstock Inc. operates in the clean energy sector, specializing in the extraction of metals such as silver, aluminum, and gold from end-of-life photovoltaics [3] - The company aims to support sustainable practices by efficiently utilizing under-utilized natural resources [3] Communication Strategy - Comstock Inc. utilizes various platforms, including its investor relations website and social media accounts, to disclose material non-public information and comply with regulatory obligations [4]

Core Insights - Comstock Inc. has completed the acquisition of the Haywood quarry industrial and mineral properties for $2.2 million in cash and stock, enhancing its mineral portfolio and operational capabilities in Lyon County, Nevada [1][2] Company Developments - The Haywood property spans approximately 190 acres and is strategically located near the Company's existing mineral properties, including the Dayton gold and silver resource [1][2] - The acquisition is expected to support mining activities at Dayton and provide post-mining industrial property in one of Lyon County's largest industrial parks [2] Historical Context - The Comstock Lode, discovered in 1859, historically produced over 8 million ounces of gold and 192 million ounces of silver from depths exceeding 3,000 feet [2] - The Company has consolidated significant portions of the historic Comstock Lode mining district and has conducted extensive geological studies and drilling [2][3] Geological and Operational Insights - The Company has performed extensive geological mapping and drilling, particularly in the Lucerne and Dayton resource areas, and has characterized the mineralized material [4] - A third-party S-K 1300 Technical Report Summary for the Dayton gold and silver resources was published in November 2022, indicating ongoing efforts in economic analysis and mine planning [4][5] Future Plans - The Company's 2025 initiatives include applying economic analysis to existing resources and progressing towards preliminary economic feasibility for the broader Dayton resource complex [5]

Core Viewpoint - Comstock Holding Companies, Inc. has announced that D1 Training has signed a lease for retail space, indicating growth in the fitness sector and the company's ongoing development in the Washington, D.C. region [1] Company Summary - Comstock Holding Companies, Inc. is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. area [1] - The company has secured a lease agreement with D1 Training for 4,360 square feet of retail space at 43800 Central Station Drive in Loudoun Station [1] Industry Summary - D1 Training is a franchise fitness center that offers sports-science-based training to athletes of all ages, reflecting a trend towards specialized fitness services [1]

Summary of Comstock Inc. Presentation at Lithium Partners Fall 2025 Investor Conference Company Overview - **Company Name**: Comstock Inc. - **Ticker Symbol**: LODE on NYSE American - **Industry Focus**: Renewable and sustainable metals, specifically solar panel recycling [1][2] Core Business Model - Comstock specializes in recycling end-of-life solar panels, which typically last 12 to 17 years instead of the intended 25+ years [3] - The company aims to prevent hazardous materials from entering landfills, thus addressing environmental concerns [3] - Key materials extracted from solar panels include: - 20 grams of silver per panel - 6.5 pounds of aluminum per panel - Other critical metals such as indium, iridium, manganese, gallium, and tellurium [3][4] Market Opportunity - There are over 1 billion solar panels currently deployed in the U.S., with demand for silver reaching record highs [4] - Silver demand has exceeded supply for the first time in four years, with prices rising from the teens to the low 40s [5] - The market for solar panel recycling is projected to grow significantly, with estimates of 33 million panels reaching end-of-life by 2030 [11][21] Operational Efficiency - Comstock has developed a proprietary recycling process that eliminates contaminants without harmful emissions and at a low variable cost of $35 per ton [5][6] - The company operates a facility capable of processing a panel every seven seconds, with plans to scale to millions of panels per year [6][10] - The facility is currently running three shifts, 24 hours a day, five days a week, and is expected to achieve cash profitability by Q2 of the following year [9][10] Financial Projections - At full capacity, Comstock anticipates generating $55 million in free cash flow from processing 100,000 tons of material [11] - The company has a significant hidden asset in net operating loss carryforwards, which could shelter over $250 million in profits [18] Expansion Plans - Comstock plans to establish seven facilities across the U.S. to capture more than 30% market share by 2028 [15][16] - The first three facilities are expected to come online between 2026 and 2028, with a focus on regions with high solar panel deployment [12][15] Additional Assets - Comstock holds mineral assets in Nevada with an NPV of over $200 million based on updated mine plans [16][17] - The company has investments in real estate and renewable fuels, with a significant stake in Violium Corp valued at over half a billion dollars [17][19] Recent Developments - Comstock successfully raised $30 million from institutional investors, enhancing its shareholder base and eliminating debt [20] - The company emphasizes the tremendous value potential in the solar panel recycling market, with a long-term business outlook driven by the increasing number of panels reaching end-of-life [21][22] Conclusion - Comstock Inc. is positioned as a leader in the solar panel recycling industry, with a robust business model, significant market opportunities, and plans for substantial growth in the coming years [22]

Core Points - Comstock Holding Companies, Inc. has entered into a purchase agreement to acquire a multifamily property with over 400 units in Rockville, Maryland, marking its first acquisition since the pandemic [1][4] - The property is designed with one-to-three bedroom apartments and includes amenities such as a fitness center, social gathering spaces, a resort-style pool, and garage parking, conveniently located along Metro's Red Line [3][6] - The acquisition is part of Comstock's Institutional Venture Platform, aimed at attracting institutional investors and structured as a joint venture to maximize value for stakeholders [5][6] Company Strategy - The acquisition aligns with Comstock's strategic growth plan, focusing on enhancing its managed portfolio and generating above-average returns on invested capital (ROIC) [6] - The company has emphasized its efforts to eliminate debt and strengthen its balance sheet, positioning itself for growth opportunities [6] Company Background - Founded in 1985, Comstock is a leading asset manager and developer of mixed-use and transit-oriented properties in the Washington, D.C. region, managing approximately 10 million square feet at full build-out [7][8]

Company Announcement - Comstock Inc. will participate in a webcast presentation and host one-on-one meetings with investors at the Lytham Partners Fall 2025 Investor Conference on September 30, 2025 [1] - The webcast presentation is scheduled for 4:15 p.m. ET and will be accessible via the conference home page or directly through a provided link [2] - Management will engage in virtual one-on-one meetings throughout the event, with arrangements available through Lytham Partners [3] Company Overview - Comstock Inc. focuses on innovating and commercializing technologies that support clean energy systems by extracting and converting under-utilized natural resources into reusable electrification metals, including silver, aluminum, copper, and other critical minerals from end-of-life photovoltaics [4] Communication Strategy - Comstock Inc. utilizes its investor relations link and main website, along with social media platforms like X.com, LinkedIn, and YouTube, to disclose material non-public information and comply with disclosure obligations [5]