Comstock Inc. Announces Change in Independent Auditor Following Acquisition of Assure CPA, LLC by Sadler, Gibb & Associates
Comstock Inc. (NYSE American: LODE) has announced a significant change in its certifying auditor, a development that may be of interest to shareholders and could impact investor sentiment.
Key Points from the 8-K Filing
- Acquisition of Assure CPA, LLC by Sadler, Gibb & Associates, LLC: On June 3, 2026, Comstock Inc. was notified that Sadler, Gibb & Associates, LLC (“Sadler Gibb”) had acquired substantially all of the assets of Assure CPA, LLC (“Assure”), the firm that previously served as the company’s independent registered public accounting firm.
- Continued Audit Team: The audit team, including the lead audit partner who was responsible for Comstock at Assure, will continue servicing Comstock after joining Sadler Gibb. This means continuity in the personnel handling Comstock’s audits, which is often a positive for both the company and investors.
- Formal Transition and Appointment: The Board of Directors and Audit and Finance Committee of Comstock Inc. confirmed the resignation of Assure. On June 5, 2026, the Board formally appointed Sadler Gibb as the new independent registered public accounting firm for the company, effective immediately.
- Audit Reports and No Disagreements: Importantly, Assure’s audit reports for the years ended December 31, 2025 and December 31, 2024 did not contain any adverse opinions, disclaimers, or qualifications. There were also no disagreements or reportable events between Comstock and Assure regarding accounting principles, practices, financial statement disclosure, or audit procedures during the relevant periods.
- No Consultations with Sadler Gibb Prior to Appointment: Neither Comstock nor anyone on its behalf consulted Sadler Gibb regarding the application of accounting principles or any audit opinions prior to the firm’s engagement.
- Assure’s Confirmation: Assure has provided a letter to the SEC, agreeing with the statements made by Comstock regarding this transition.
Matters of Interest to Shareholders
- Potential Impact on Share Value: Changes in a company’s independent auditor can be a price-sensitive event. In this case, the transition is due to an acquisition, not a dispute or concern over financial reporting. The continued involvement of the same audit team, now under Sadler Gibb, helps to mitigate risks associated with the transition.
- Regulatory Compliance and Transparency: The company has adhered to regulatory requirements by filing this information with the SEC and providing full transparency to shareholders.
- No Adverse Auditor Opinions: The absence of adverse opinions or disagreements in recent years provides confidence regarding the integrity of Comstock’s financial reporting.
Summary Table
| Event | Details |
|---|---|
| Former Auditor | Assure CPA, LLC |
| New Auditor | Sadler, Gibb & Associates, LLC |
| Reason for Change | Acquisition of Assure by Sadler Gibb |
| Continuity of Audit Team | Yes, including lead audit partner |
| Disagreements / Reportable Events | No |
| Latest Audit Opinion | Unqualified (no adverse or disclaimer opinions) |
Conclusion
For investors, the change in auditor—while not stemming from any disagreement or concern—remains a noteworthy governance event. The seamless transition and confirmation from the outgoing auditor are reassuring. However, since auditor changes can sometimes precede or accompany corporate events or changes in financial practice, shareholders may wish to monitor upcoming filings for any further updates.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors should conduct their own due diligence and consult with a professional advisor before making investment decisions. The author assumes no responsibility for any actions taken based on the information provided herein.
