Comstockreason 04 of 4a reason to hold, not a barrierderived 2026-09-14accession 0001437749-26-024304
The Company entered into a Securities Purchase Agreement to sell all of its rights, titles, and interest in the mining membership interests to Mackay
Mackay shall have the right at any time to repurchase 100% of the NSR Royalty for a payment of $3,500,000, provided that if the seven-year period for the Contingent Payment has lapsed the royalty buyout payment shall be increased to $7,000,000
$22,992,892 was classified as Assets Held for Sale and $6,832,924 was classified as Liabilities Held for Sale
The Company had current assets of $58,132,861 and current liabilities of $18,185,790, representing working capital excess of $39,947,071 at June 30, 2026
On January 30, 2026, the Company issued 18,181,819 registered shares of its common stock at $2.75 per share for $50,000,002 and received net proceeds of $46,140,002
the finding
The funding sources disclosure now specifically references expected proceeds from the announced mining business sale, bearing on the asset disposition described in the reason.
The report says this changed. It does not say whether that is good or bad, so neither do we.
before · MD&A · 2026-03-31 → 2026-06-30
“from existing cash and cash equivalents, planned sales of non-strategic assets and other investments, sales and deferred revenue”
→ after
“from existing cash and cash equivalents, expected proceeds from the announced sale of the mining business, planned monetization of other non-strategic assets”
the evidence · every sentence checkedsix sentences · whole, uncut
the claims it rests on
“The Company entered into a Securities Purchase Agreement to sell all of its rights, titles, and interest in the mining membership interests to Mackay”
“Mackay shall have the right at any time to repurchase 100% of the NSR Royalty for a payment of $3,500,000, provided that if the seven-year period for the Contingent Payment has lapsed the royalty buyout payment shall be increased to $7,000,000”
“$22,992,892 was classified as Assets Held for Sale and $6,832,924 was classified as Liabilities Held for Sale”
“The Company had current assets of $58,132,861 and current liabilities of $18,185,790, representing working capital excess of $39,947,071 at June 30, 2026”
“On January 30, 2026, the Company issued 18,181,819 registered shares of its common stock at $2.75 per share for $50,000,002 and received net proceeds of $46,140,002”
what it was checked against
NSR royalty and repurchase rights
“The Purchase Agreement includes a 1.5% NSR royalty on minerals produced from the transferred properties, including a Royalty Agreement, and subject to Mackay's repurchase rights under specified conditions.”