Annual report [Section 13 and 15(d), not S-K Item 405]

Note 7 - Note Receivable

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Note 7 - Note Receivable
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Financing Receivables [Text Block]

7.                 

Note receivable

 

During the year ended December 31,2023, the Company sold its stock in LINICO and recorded an impairment of $1,400,000 and a receivable of $600,000. The proceeds were to be received over a 12 month installment starting in January 2024. As of December 31, 2024, the Company's note receivable balance was $100,000. On December 19, 2024 the Company entered in an agreement with LINICO to receive the balance on March 31, 2025.

 

Comstock Inc., a Nevada corporation (NYSE-MKT: LODE), is the beneficial owner of approximately 88% of the common shares of LINICO. The Company's Chief Financial Officer, Judd Merrill, was a member of the board of directors of Comstock Inc. until  April 5, 2023.