Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1401

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 10
Chunk 1401
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,000 shares of the Company’s common stock (approximately 12% of the Company’s common shares outstanding at that
time) at a total repurchase amount not to exceed $200,000. During the period January 1, 2024 through December 31, 2024 a total of 3,000,000
shares have been repurchased and effectively retired. The total stock repurchase amount, with the inclusion of commissions and fees,
was $183,993.

    F-35

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Preferred
Stock

Mentor
has 5,000,000 preferred shares authorized at a $0.0001 par value.

On
July 13, 2017, the Company filed a Certificate of Designation of Rights, Preferences, Privileges and Restrictions of Series Q Preferred
Stock (“Certificate of Designation”) with the Delaware Secretary of State to designate 200,000 preferred shares as Series
Q Preferred Stock, such series having a par value of $0.0001 per share. Series Q Preferred Stock is convertible into Common Stock, at
the option of the holder, at any time after the date of issuance of such share and prior to notice of redemption of such share of Series
Q Preferred Stock by the Company into such number of fully paid and nonassessable shares of Common Stock as determined by dividing the
Series Q Conversion Value by the Conversion Price at the time in effect for such share.

The
per share “Series Q Conversion Value,” as defined in the Certificate of Designation, shall be calculated by the Company at
least once each calendar quarter as follows: The per share Series Q Conversion Value shall be equal to the quotient of the “Core
Q Holdings Asset Value” divided by the number of issued and outstanding shares of Series Q Preferred Stock. The “Core Q Holdings
Asset Value” shall equal the value, as calculated and published by the Company, of all assets that constitute Core Q Holdings,
which shall include such considerations as the Company designates and need not accord with any established or commonly employed valuation
method or considerations. “Core Q Holdings” consists of all proceeds received by the Company on the sale of shares of Series
Q Preferred Stock and all securities, acquisitions, and business acquired from such proceeds by the Company. The Company shall periodically,
but at least once each calendar quarter, identify, update, account for, and value the