Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1608

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 1608
---
 the Company sold $989 of the SAFE Purchase Amount to a third party. On August 1, 2022, the Company sold an additional
$1,285 of the SAFE Purchase Amount to a third party, thereby reducing the aggregate outstanding SAFE Purchase Amount to $83,756.

On
January 20, 2023, the Company and NeuCourt entered into a SAFE Purchase Agreement by which the Company invested an additional $10,000
in the form of a NeuCourt Simple Agreement for Future Equity under the same terms as the previous July 15, 2022 SAFE Purchase Agreement
between NeuCourt and the Company, increasing the aggregate SAFE Purchase Amount to $93,756. At December 31, 2024 and 2023, the SAFE Purchase
Amount was $93,756.

Note
8 - Note purchase agreement and consulting agreement with G FarmaLabs Limited

On
March 17, 2017, the Company entered into a Notes Purchase Agreement with G FarmaLabs Limited (“G Farma”), a Nevada corporation.
Under the Agreement, the Company purchased two secured promissory notes from G Farma in an aggregate principal amount of $500,000, both
of which bore interest at 7.42% per annum, with monthly payments beginning on April 15, 2017 and maturity on April 15, 2022. The two
G Farma notes, as amended by subsequent addenda, are secured by all property, real and personal, tangible, or intangible of G Farma and
are guaranteed by GF Brands, Inc. and two majority shareholders of G Farma. As of March 4, 2019, the Company and G Farma had executed
eight addenda subsequent to the original agreement. Addendum II through Addendum VIII increased the aggregate principal face amount of
the working capital note to $990,000 and increased the monthly payments on the working capital note to $10,239 per month beginning March
15, 2019. G Farma has not made scheduled payments on the notes receivable since February 19, 2019.

On
February 22, 2019, the City of Corona Building Department closed access to G Farma’s corporate location and posted a notice preventing
entry to the facility; the Company was not informed by G Farma of this incident until March 14, 2019. The notice cited unpermitted modifications
to electrical, mechanical, and plumbing, including all undetermined