Comstock Inc. 8-K

What Happened

• Comstock Inc. (LODE) filed an 8-K disclosing a Second Note Amendment dated March 30, 2026 with Georges Trust (the Noteholder). The amendment extends the payment date for the Company’s promissory note (remaining principal $4,290,000) from April 15, 2026 to July 15, 2026. All other terms of the Note and the earlier August 8, 2025 amendment remain substantially unchanged.
• Previously, under the First Amendment, Comstock issued 1,500,000 shares of common stock to the Noteholder (LODE shares) in August 2025. A registration statement on Form S-3 to permit resale of those shares was filed November 21, 2025 and declared effective December 10, 2025.

Key Details

• Remaining principal under the note: $4,290,000.
• Shares issued to Noteholder under First Amendment: 1,500,000 LODE shares.
• Original note payment date: April 15, 2026; new payment date per Second Amendment: July 15, 2026 (amendment dated March 30, 2026).
• The LODE shares’ current value exceeds the remaining principal; net cash proceeds from any resale are to be applied to the Note, and any excess proceeds or shares must be returned to the Company.

Why It Matters

• The amendment gives Comstock an additional three months to satisfy the debt obligation, which affects near-term cash flow and financing flexibility.
• Investors should note that issued shares to the Noteholder have been registered for resale; proceeds from any resale are earmarked to pay the note, and excess proceeds/shares must be returned, which could affect share supply and cash outcomes.
• The filing of the Second Amendment (Exhibit 10.1) documents the new payment timeline; there were no other material changes disclosed to the Note’s terms.