Comstock amends asset purchase deal with Flux; reduces price to $17.2M

Comstock Inc.

Purchase price reduced by $800,000 to $17.2M after a $200,000 cash payment on Dec 29, 2023.
Remaining $16.65M payable from 20% of future consolidated net cash flow.
Flux is wholly owned by Comstock director and CTO Kevin Kreisler, making this a related-party transaction.
Original asset purchase agreement dated September 2021 covered photovoltaic and photocatalysis IP and equipment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Comstock Inc. amended Asset Purchase Agreement with Flux Photon Corporation valued at decreased by $800,000 to $17,200,000 (effective 2023-12-28).

Action: amendment
Agreement: asset purchase
Counterparty: Flux Photon Corporation
Value: decreased by $800,000 to $17,200,000
Effective: 2023-12-28

Exact text from the filing

On December 28, 2023, Comstock Inc. (the “Company”) amended that certain Asset Purchase Agreement (the “Asset Purchase Agreement”), dated September 7, 2021, as amended and restated December 10, 2021, between the Company and Flux Photon Corporation (“Flux”).

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Source: SEC EDGAR

accession 0001120970-23-000101

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