Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 63

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 63
---

there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls
and procedures relative to their costs.

Based
on management’s evaluation, our chief executive officer and principal financial officer concluded that, as of June 30, 2025, our
disclosure controls and procedures are designed at a reasonable assurance level and are effective to provide reasonable assurance that
information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and
reported within the time periods specified in SEC rules and forms and that such information is accumulated and communicated to our managers,
including our chief executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes
in internal control over financial reporting.

We
regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls
and increase efficiency while ensuring that we maintain an effective internal control environment. Changes may include such activities
as implementing new, more efficient systems, consolidating activities, and migrating processes.

There
were no changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2025 that have materially
affected or are reasonably likely to materially affect our internal control over financial reporting.

-38-

PART
II – OTHER INFORMATION

Item
1. Legal Proceedings.

G
FarmaLabs Limited

On
August 27, 2021, the Company and Mentor Partner I settled certain litigation with G FarmaLabs Limited, a Nevada corporation, and certain
of its affiliates (the “G Farma Settlors”). The G Farma Settlors partially performed, and then breached, the Settlement Agreement.

Consequently,
in February 2023, the Company and Mentor Partner I filed a Request for Entry of Judgment seeking entry of a stipulated judgment against
the G Farma Settlors for (1) the remaining unpaid settlement amount of $494,450 promised, all accrued and unpaid interest thereon, and
an additional $2,000,000 principal amount as agreed in the Settlement Agreement, (2) the Company’s incurred costs, and (3) attorneys’
fees paid by the Company to obtain the judgment. On July 11, 2023, the Court entered judgment against the G Farma Settlors and in favor
of Mentor and Partner I in the amount of $2,539,597, which is comprised of $2,494,450