Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 23

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 23
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 discount from the face value of the account receivable
or net present value of $0.78 per share, the then current share price closing. The discount is being amortized monthly to interest over
the 11-year term of the agreement. In the fourth quarter of 2020, we were notified that due to the effect of COVID-19, we might not receive
the 2020 installment or the full 2021 installment. Based on management’s collection estimates, we recorded an investment loss of
($139,148) on the investment in account receivable at December 31, 2020. In 2021, the Company re-evaluated estimated collections and recorded
an investment gain of $22,718. Subsequently, on February 15, 2022, the terms of the investment were modified, resulting in an additional
loss of ($41,930). The loss of ($41,930) and gain of $22,718 were reflected in Other Income on the consolidated income statement for the
years ended December 31, 2022 and 2021, respectively.

On January 10, 2023, the Company received the 2023
annual installment payment of $117,000. Three additional $117,000 annual installment payments were due in early 2024, 2025, and 2026.
The 2024 and 2025 annual installment payments have not been received. At June 11, 2024, the receivable was fully impaired due to a history
of uncertain payments.

The investment in account receivable consists of the
following at March 31, 2025 and December 31, 2024:

 Schedule of receivables with imputed interest 

    March 31,  2025  
    December 31,  2024 
  
    Face value* 
    $287,200  
    $287,200 
  
    Impairment 
     (250,208) 
     (250,208)
  
    Total 
     36,992  
     36,992 
  
    Unamortized discount 
     (36,992) 
     (36,992)
  
    Net balance 
     -  
     - 
  
    Long term portion 
    $-  
    $- 

    *
    Coincident with the June 11, 2024 impairment, accounts receivable of $2