Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1154

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1154
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”).
The Settlement Agreement required the G Farma Settlors to pay the Company an aggregate of $500,000 plus interest, payable monthly as
follows: (i) $500 per month for 12 months beginning on September 5, 2021, (ii) $1,000 per month for 12 months beginning September 5,
2022, (iii) $2,000 per month for 12 months beginning September 5, 2023, and (iv) increasing by an additional $1,000 per month on each
succeeding September 5th thereafter, until the settlement amount and accrued unpaid interest were paid in full. Interest on the unpaid
balance initially accrued at the rate of 4.25%, commencing February 25, 2021, and was to be adjusted on February 25th of each year
to equal the Prime Rate as published in the Wall Street Journal plus 1%. In the event that the G Farma Settlors failed to make any monthly
payment and had not cured such default within 10 days of notice from the Company, the parties stipulated that an additional $2,000,000
would be immediately added to the amount payable by the G Farma Settlors.

On
October 12, 2021, the parties filed a Stipulation for Dismissal and Continued Jurisdiction with the Superior Court of California in the
County of Marin. The Court ordered that it retain jurisdiction over the parties under Section 664.6 of the California Code of Civil Procedure
to enforce the Settlement Agreement until the performance in full of its terms is met.

In
August, September, and October 2022, the G Farma Settlors failed to make monthly payments and failed to cure each default within 10 days’
notice from the Company pursuant to the Settlement Agreement. As a result, $2,000,000 was added to the amount payable by the G Farma
Settlors in accordance with the terms of the Settlement Agreement. The Company and Partner I sought entry of a stipulated judgment against
the G Farma Settlors for (1) $494,450, the remaining amount of the $500,000 settlement amount, which has not yet been paid by the G Farma
Settlors plus $2,000,000 and all accrued unpaid interest, (2) the Company’s incurred costs, and (3) attorneys’ fees paid
by the Company to obtain the