Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 251

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 251
---
 administrative expenses

Our
selling, general, and administrative expenses for the year ended December 31, 2024 was $780,212 compared to $1,775,210 for the year ended
December 31, 2023, a decrease of ($994,998) or 56.05%. The decrease was due to a decrease in officer accrued benefits of ($661,718),
a decrease in officer salary and payroll tax expense of ($391,154), a decrease in employee accrued benefits of ($17,005), a decrease
in administrative expenses of ($2,004), a decrease in depreciation expense of ($632), a decrease in insurance expenses of ($418), and
a decrease in subsidiary related expenses of ($313), offset by an increase of $44,718 in professional service fees, an increase in board
of directors fees of $20,750, an increase in employee salary and payroll tax expense of $12,575, an $129 increase in advertising and
promotion expense, and a $74 increase in travel related expenses.

Other
income and expense

Other
income and expenses, net, totaled ($43,964) for the year ended December 31, 2024, compared to $4,863,129 for the year ended December
31, 2023, a decrease of ($4,907,093). The decrease was due to the October 4, 2023 sale of our discontinued operation, WCI, on which
we recognized a $4,805,389 gain at December 31, 2023, plus a $94,476 increase in interest income, a $15,847 decrease in interest expenses,
a $250,208 decrease in loss on investments, and a ($6,387) increase in unrealized loss on investments, offset by a $41,376 gain on sale
of investments.

26

Net
results

The
net result for the year ended December 31, 2024, was a net loss attributable to Mentor of ($839,505) or ($0.036) per Mentor common share
compared to a net gain attributable to Mentor of $3,157,658 or $0.137 per Mentor common share for the year ended December 31, 2023. The
Company will continue to look for acquisition opportunities to expand its portfolio, ideally with companies that are positive for operating
revenue or have the potential to become positive for operating revenue.

Changes
in cash flows

At
December 31,