---
schema_version: "secwatch.filing_event.v1"
accession: "0001120970-23-000088"
form_type: "8-K"
ticker: "LODE"
cik: "0001120970"
company_name: "Comstock Inc."
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T04:37:18.153187+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Comstock secures $2.1M secured note with Alvin Fund; 1M warrants at $0.70; appoints new PAO

## Summary
- Promissory note for $2.1M principal ($100K OID) from Alvin Fund LLC at 8% interest, maturing Feb 8, 2025.
- Warrants to purchase 1M shares at $0.70 per share, exercisable until Nov 12, 2025; cashless exercise allowed.
- Note secured by non-mining assets: Silver Springs properties; proceeds for general corporate purposes.
- Matthew Bieberly appointed Principal Accounting Officer; annual salary $175,000; previously 30,000 stock options.
- Default rate 12%; events of default include insolvency and failure to pay; prepayment allowed without penalty.

## SEC filing metadata
- accession: 0001120970-23-000088
- form_type: 8-K
- ticker: LODE
- cik: 0001120970
- company_name: Comstock Inc.
- filed_at: 2023-11-13T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000088/0001120970-23-000088-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000088/lode-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001120970-23-000088
- JSON: https://secwatch.observer/filing/0001120970-23-000088.json
- Plain text: https://secwatch.observer/filing/0001120970-23-000088.txt

## Key facts
- Debt Financings
  Comstock Inc. incurred loan of $2,100,000 with Alvin Fund LLC at 8% maturing February 8, 2025.
  - Instrument: loan
  - Principal: $2,100,000
  - Counterparty: Alvin Fund LLC
  - Rate: 8%
  - Maturity: February 8, 2025
  - Event: incurrence
  source text: “Company”), entered into a secured promissory note (the “Promissory Note”) with Alvin Fund LLC, as lender (“Lender”). The Promissory Note has an aggregate principal amount of $2,100,000, which includes $100,000 original issue discount, a per annum interest rate of 8% and a maturity date of February 8, 2025. Interest is payable monthly on the Promissory Note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000088/0001120970-23-000088-index.htm
- Executive change
  Matthew Bieberly was appointed as Principal Accounting Officer at Comstock Inc..
  - Action: appointed
  - Role: Principal Accounting Officer
  source text: On November 9, 2023, the Company appointed Matthew Bieberly, as Principal Accounting Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000088/0001120970-23-000088-index.htm
- Material Agreements
  Comstock Inc. entered into Promissory Note with Alvin Fund LLC valued at aggregate principal amount of $2,100,000 (effective 2023-11-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Alvin Fund LLC
  - Value: aggregate principal amount of $2,100,000
  - Effective: 2023-11-12
  source text: On November 12, 2023, Comstock Inc. (the “Company”), entered into a secured promissory note (the “Promissory Note”) with Alvin Fund LLC, as lender (“Lender”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1120970/000112097023000088/0001120970-23-000088-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.