Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 74

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 74
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 military situations future weakness
in the credit markets, and significant liquidity problems for the financial services industries may also impact our financial condition
in a number of ways. For example, current or potential partners and affiliates may not pay us, or our partners or affiliates may delay
paying us or our partners or affiliates for previously purchased products and services. Our involvement in the classic energy sector may
draw political or regulatory scrutiny even if our actions are entirely legal and beneficial to society. Also, we may have difficulties
in securing additional financing in the energy sector.

Shareholders,
directors, partners, professionals, and employees may disagree with management’s plan and direction for the company.

In
any organization, some individuals will have differing views on the best approach that the Company should follow to optimize results.
These differences can sometimes even evolve into personal conflicts that are a distraction to management. With over four decades of senior
management experience current leadership has rarely but occasionally encountered these sorts of diverging opinions as to how the Company
should proceed. Disagreements of this nature have recently been addressed but may again continue or reappear in the future and randomly
over time.

-44-

Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.

On
December 14, 2023, our Chief Executive Officer, Chet Billingsley, exercised 2,000,000 Series D warrants at $0.02 per share. Mr. Billingsley
paid the Company $40,000 in cash. This increased Mr. Billingsley’s share ownership by 2,000,000 common shares, increased the Company’s
outstanding shares of common stock to 21,686,105, and decreased the Company’s outstanding Series D warrants to 4,250,000. The sale
of 2,000,000 shares of common stock through the exercise of Series D warrants were made in reliance on 11 U.S.C. § 1145 and Section
3(a)(7) of the Securities Act of 1933, as amended.

Other
than as stated above, there have been no other unregistered securities sold within the past three years.

Item
3. Defaults Upon Senior Securities and Use of Proceeds.

None.

Item
4. Mine Safety Disclosures.

None.

Item
5. Other Information.

None.

Item
6. Exhibits.

The
following exhibits are filed as part of this report:

    Exhibit
    Number
     
    Description
  
    3.1