Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 48

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 48
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 chain. The former investment partnership was incorporated under the laws of the State of California on
July 29, 1994 and on September 12, 1996, the Company’s offering statement was qualified under Regulation A of the Securities Act
of 1933 and began to trade its shares publicly. The Company relocated to San Diego, California, and contracted to provide financial assistance
and investment in small businesses. On September 24, 2015, the Company redomiciled from California to Delaware by merging the California
Mentor Capital, Inc. corporation into a newly formed Delaware entity, Mentor Capital, Inc. Following the merger, the Company is governed
under the laws of the State of Delaware. In September 2020, Mentor relocated its corporate office from San Diego, California, to Plano,
Texas.

In the
public arena, the Company continues its diverse investment activities. These have included the acquisition of oil and gas
partnerships, New York Stock Exchange gas trading company mini-tender offers, ATM ownership, facilities operations investment,
cancer immunotherapy investment, equipment financing, intellectual property investment, litigation financing, investment in a
dispute resolution company, and discounted funding of annuity-like fund flows. Most recently, from its new Texas base, the Company
has signaled a substantial return to its energy roots, starting with stock purchases in several energy companies in the oil and gas,
coal, and uranium markets and purchase of fractional, non-operating royalty interests in producing oil and gas properties operating in West
Texas.

Acquisitions and investments

Discontinued Operation – Facilities Operations
Segment

On October 4, 2023, we sold and completely divested
our majority controlling 51% interest in Waste Consolidators Inc. (“WCI”), our facilities operations segment, that provides
waste management and disposal services, including waste consolidation, bulk item pickup, general property maintenance, and one-time clean-up
services to business park owners, governmental centers, and apartment complexes in Phoenix, Austin, San Antonio, Houston, and Dallas.
Following the sale, the Company received no new income from WCI and had no further involvement or continuing influence over its operations.
WCI is now reported as a discontinued operation. WCI had been a long-standing investment, but it no longer aligns with the Company’s
central business focus in the energy sector. The $6,000,000 proceeds from the sale of our WCI shares provided the Company with capital
to seek out new business opportunities in the classic energy