Comstock Inc. LODE Comstock Metals — Accounts Receivable Net

The condensed consolidated financial statements are prepared on the going concern basis of accounting that assumes the realization of assets and the satisfaction of liabilities in the ordinary course of business. The Company has had recurring net losses from operations and had an accumulated deficit of $413,579,326 at June 30, 2026. For the six-months ended June 30, 2026, the Company recognized a net loss of $34,851,818. Cash and cash equivalents increased by $14,453,590 from $16,951,645 at December 31, 2025 to $31,405,235 at June 30, 2026. At June 30, 2026, Comstock Metals billed $2,309,422 of which $510,280 was for decommissioning services, recycling fees and off-take revenue and $1,799,142 of which represents fees for recycling services that have not yet been completed and are recognized as deferred revenue (see Note 13). At June 30, 2026, the Company has no outstanding debt. The Company intends to fund its operations over the next twelve months from existing cash and cash equivalents, expected proceeds from the announced sale of the mining business, planned monetization of other non-strategic assets, sales and deferred revenue from our solar panel recycling business, and issuance of subsidiary-level equity (that is, by Bioleum). The Company also maintains access to capital from our existing shelf registration statement. Based on these existing and expected funding sources, management believes we will have sufficient funds to sustain our operations and meet our commitments under our investment agreements during the 12 months following the date of issuance of the consolidated financial statements included herein.