secwatch.observer — SEC 8-K summary
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Issuer:     Comstock Inc. (LODE)
CIK:        0001120970
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001120970-23-000088
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120970/000112097023000088/0001120970-23-000088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120970/000112097023000088/lode-20231109.htm
  HTML page:      https://secwatch.observer/filing/0001120970-23-000088

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