Company: MNTR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021833
Chunk: 22

Company: Mentor Capital, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 22
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 at which point payment is unconditional.
The Company’s receipt of royalty interest payments is not attached to any performance obligation that the Company must perform,
such as the delivery of goods or services in order to receive payment from a customer. Therefore, the Company’s ownership of royalty
interests is not a contractual asset or liability under ASC 606, “Revenue from Contracts with Customers.”

Basic
and diluted income (loss) per common share

We
compute net income (loss) per share in accordance with ASC 260, “Earnings Per Share.” Under the provisions of ASC
260, basic net income or loss per share includes no dilution and is computed by dividing the net income or loss available to common stockholders
for the period by the weighted average number of shares of Common Stock outstanding during the period. Diluted net income or loss per
share takes into consideration shares of Common Stock outstanding (computed under basic net income or loss per share) and potentially
dilutive securities that are not anti-dilutive.

There were 4,250,000 potentially dilutive outstanding
warrants for the three months ended September 30, 2025, that, on a treasury stock basis, had the dilutive effect of 3,400,000 common shares.

Outstanding warrants that did not affect the computation of the dilutive weighted average number of shares outstanding, as their effect
would be anti-dilutive, were 4,250,000 for the nine months ended September 30, 2025, and December 31, 2024, respectively.

Conversion
of Series Q Preferred Stock into Common Stock would be anti-dilutive for the three and nine months ended September 30, 2025 and 2024
and is not included in calculating the diluted weighted average number of shares outstanding.

    -17-

Note
3 – Discontinued operation

In
2003, the Company purchased a 50% interest in Waste Consolidators, Inc., a facilities operation company that comprised our facilities
operation segment (“WCI”) and increased its ownership stake in WCI by 1% in 2014. Since January 1, 2014, our controlling
interest investment in WCI included a facilities operations segment, which provides waste management and disposal services to business
park owners, governmental centers, and apartment complexes in Phoenix, Austin, San Antonio, Houston, and Dallas. On October 4, 2023,
the Company sold the entirety of its interest in WCI for $6,