The Price of Cleanliness: Comstock's Brutal Dilution
Clean balance sheet and path to profitability vs 30% dilution - is the juice worth the squeeze?
NB Somebody has been impersonating me again on social media. If anyone DMs you, trying to solicit your money for something, it is not me. Please don’t engage.
Having listened to its earnings call last week, as promised, here are my latest thoughts on Comstock Inc (NYSE:LODE) and its recent $30 million raise.
Despite that headline $30 million figure, it is worth noting, the 13.3 million shares issued at $2.25, with the stock trading above $3, netted the company $27.6 million. There’s a lot of money to be made in the commission game.
It is horribly, horribly dilutive: 30% of the company at a US$115 million valuation.
On the other hand …
