Comstock Inc (LODE)

[phx85]

http://www.globenewswire.com/news-release/2019/06/27/1875081/0/en/Comstock-Mining-Advances-Lucerne-Sale-Receives-Additional-Non-refundable-Deposit-and-NYSE-Notifications.html

Translation: Tonogold owed CMI $1mil by 6/21/2019 (amended to 6/28/2019 - https://www.sec.gov/Archives/edgar/data/1120970/000112097019000047/tonogold_amend3-june2019.htm). They paid $600,000. They either pay the remaining $400,000 by tomorrow which reduces the total cash payment due at close or they issue stock worth $400,000 (an extension fee) and the amount due at close remains $8.55 million in cash. Only CASH payments apply toward the amount due at closing. TNGL is still responsible for the interest accumulation on the debenture from June 1, 2019 forward until paid in full and all operating expenses for the Lucerne/American Flat per the agreement.

The negative: On June 24, 2019, the NYSE notified the Company that its securities have been selling at or below $0.20 per share since May 20, 2019, and that its continued listing is predicated on demonstrating sustained price improvement within the next six month period, that is, no later than December 24, 2019, or effecting a reverse stock split.

My opinion: Share price will take care of itself provided EITHER of the land deals close.