Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 26

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 26
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626 
  
    Furniture and fixtures 
     14,613  
     14,613 
  
    Machinery and vehicles 
     -  
     - 
  
    Gross property and equipment 
     48,239  
     48,239 
  
    Accumulated depreciation and amortization 
     (47,891) 
     (47,721)

    Net Property and equipment 
    $348  
    $518 

Depreciation
and amortization expense were $85 and $269 for the three months ended June 30, 2025 and 2024, and $170 and $538 for the six months ended
June 30, 2025 and 2024, respectively.

Note
7 – Convertible notes receivable

On
November 22, 2017, the Company invested $25,000 in NeuCourt, Inc. (“NeuCourt”) as a convertible note receivable. The note
bore interest at 5% per annum, originally matured November 22, 2019, and was amended to extend the maturity date to November 22, 2021.
No payments were required prior to maturity. However, at the time the November 22, 2017 note was extended, interest accrued through November
4, 2019, was remitted to Mentor. As consideration for the extension of the maturity date for the $25,000 note, a warrant to purchase
up to 25,000 shares of NeuCourt common stock at $0.02 per share was issued to Mentor.

On
October 31, 2018, the Company invested an additional $50,000 as a convertible note receivable in NeuCourt, which bore interest at 5%,
originally matured on October 31, 2020, and was amended to extend the maturity date to October 31, 2022. As consideration for the extension
of the maturity date for the $50,000 note plus accrued interest of $5,132, a warrant to purchase up to 52,500 shares of NeuCourt common
stock at $0.02 per share was issued to Mentor. On June 13, 2022, the Company sold $2,161 in note principal to a third party, thereby
reducing the principal face value of the note to $47,839.

Principal
and unpaid interest on the Notes could have been converted into a blend of shares of a to-be