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In a recent filing with the Securities and Exchange Commission (SEC), Comstock Inc., a Nevada-based company specializing in industrial organic chemicals, provided an updated description of its common stock. The filing, dated today, March 12, 2025, details the company’s capital structure and shareholder rights, among other corporate governance matters. According to InvestingPro data, the stock has experienced significant volatility, with a 52-week range of $1.25 to $10.10, and has declined nearly 70% year-to-date.
Comstock Inc., which trades on the NYSE American under the ticker NYSEAMERICAN:LODE, has authorized capital stock of 245 million shares of common stock, each with a par value of $0.000666, and 50 million shares of undesignated preferred stock with the same par value. Currently, the company has 24,238,453 shares of common stock issued and outstanding, and no preferred stock is outstanding. The stock maintains healthy trading liquidity with an average daily volume of 960,000 shares over the past three months.
Shareholders of Comstock Inc.’s common stock are entitled to dividends when and if declared by the board of directors from legally available funds. However, the company has not paid dividends in the past and does not anticipate paying dividends in the foreseeable future. InvestingPro analysis reveals that while the company maintains impressive gross profit margins of 85%, it currently operates at a loss with negative earnings per share of $3.21 for the last twelve months. Get access to 10+ more exclusive InvestingPro Tips and comprehensive financial analysis through the Pro Research Report.
Each common stockholder is entitled to one vote per share on all matters presented to the shareholders for a vote. The election of directors, unless otherwise stated in the company’s articles of incorporation or bylaws, is decided by a plurality of votes cast.
The common stock does not come with preemptive, subscription, or conversion rights, and there are no redemption or sinking fund provisions. In the event of liquidation, common stockholders are entitled to share in the distribution of assets after debts and any preferred stockholder claims are satisfied.
Certain provisions in Comstock Inc.’s articles of incorporation, bylaws, and Nevada law could have implications for potential changes in control of the company. These include the board’s ability to issue preferred stock without shareholder approval, regulations concerning board vacancies and director removal, and advance notice requirements for shareholder nominations and proposals.
Furthermore, Nevada’s "acquisition of controlling interest" and "combinations with interested stockholders" statutes may delay or prevent changes in control. The board of directors also has the authority to resist changes in control that it deems not in the best interest of the company. Financial data from InvestingPro shows the company operates with a moderate debt level, with a debt-to-equity ratio of 0.23, and maintains a healthy current ratio of 1.55, indicating sufficient liquidity to meet short-term obligations.
The transfer agent and registrar for Comstock Inc.’s common stock is EQ Equiniti. This update to the common stock description supersedes any prior descriptions in earlier filings and will be incorporated by reference into future SEC filings.
This news is based on a press release statement and does not contain any speculative content regarding Comstock Inc. or its operations.
In other recent news, Comstock Mining Inc (NYSE:LODE). reported its Q4 2024 earnings, revealing a net loss of $53 million or $3.21 per share, which fell short of the expected EPS of -$0.03. Despite this, the company saw a notable increase in revenue, doubling from $1.3 million in 2023 to $3 million in 2024. The announcement highlighted advancements in solar panel recycling and biofuel production, alongside strategic partnerships and financing activities. Comstock raised $17.6 million through financing, with an additional $5 million from a convertible note after the year-end. Analysts had predicted a revenue of $700,100, which Comstock surpassed, indicating positive sales momentum. The company is aiming for $2.5 million in revenue from its metals segment in 2025 and plans a $6 million capital expenditure. Additionally, Comstock is working on closing a Series A financing for its fuels segment by Q2 2025. These developments reflect Comstock’s ongoing strategic initiatives and financial activities.
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