Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 9

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 9
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 the maturity dates of the convertible notes. On July 15, 2022, all principal and accrued interest on the notes were converted
into a Simple Agreement for Future Equity (“SAFE”). At June 30, 2025, the SAFE Purchase Amount is $93,756.
On
December 21, 2018, Mentor paid $10,000 to purchase 500,000 shares of NeuCourt common stock, representing approximately 6.13% of NeuCourt’s
issued and outstanding common stock at June 30, 2025. See Note 7.

The
Company held an interest in a facilities operations company, Waste Consolidators Inc. (“WCI”) until October 2023. The Company
purchased a 50% interest in WCI in 2003 and increased its ownership stake by 1% in 2014. On October 4, 2023, the Company sold the entirety
of its ownership interest in WCI for $6,000,000. Following the sale, the Company received no new income from WCI and had no further involvement
or continuing influence over its operations. As a result of this sale, our facilities operations segment was eliminated, and its results
of operations, assets, and liabilities were excluded from our continuing operations. See Note 3.

The Company maintains an opportunistic acquisition
focus. After it sold its former legacy investment in WCI it looked to expand into the classic energy markets of oil, gas, coal, uranium,
and related businesses. In 2023, the Company initially signaled a substantial return to its energy roots, starting with a tracking investment
in New York Stock Exchange energy companies in the oil and gas, coal, and uranium.

In
March 2025, the Company acquired three fractional, non-operating royalty interests in oil and gas properties covering approximately
one-hundred twenty-one (121) wells in the Spraberry Field of the Permian Basin in West Texas, through related public auctions for a
total consideration of $1,369,899.
The royalty interests entitle the Company to receive a proportional share of revenues generated from the production of hydrocarbons
from the underlying property, without incurring any operating or production costs. See Note 9.

The Company also maintains gold investment and
short-term treasury exchange traded funds for the purpose of facilitating investment into the Company to support potential future energy
acquisitions and to collect low-risk interest to offset inflation, respectively.

Note
2 - Summary of significant accounting policies