Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1124

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1124
---
, 2024 and the prior period of comparison, and WCI’s financial
results are presented as a discontinued operation in the Company’s consolidated financial statements.

Discontinued
operation financial statement presentation and disclosures

Financial
statement presentation

Due
to the sale of our entire ownership interest in WCI on October 4, 2023, our facilities operation segment was eliminated. Following our
sale of WCI, the Company received no new income from WCI and had no further involvement or continuing influence over its operations.
Consequently, we determined that the results from operations and assets and liabilities associated with our facilities operation segment
were to be excluded from our continuing operations and we presented WCI as a discontinued operation in our December 31, 2023 consolidated
financial statements and the prior reporting period in accordance with ASC Topic 205-20-45, “Discontinued Operations.”

    F-18

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

Discontinued
operations balance sheet

The
following is a summary of the assets and liabilities of our discontinued operation that were sold effective October 4, 2023:

  Schedule of balance sheet

    October 4, 2023(1) 
  
    ASSETS 

    Current assets: 

    Cash and cash equivalents 
    $369,387 
  
    Accounts receivable 
     786,616 
  
    Other current assets 
     19,027 
  
    Total current assets sold - discontinued operation 
     1,169,030 
  
    Property and equipment 
     179,673 
  
    Goodwill(2) 
     102,040 
  
    Prepaid Admin Fee – Mentor 
     - 
  
    Security deposit 
     22,477 
  
    Right of use asset 
     1,884,632 
  
    Total noncurrent assets sold - discontinued operation 
     2,188,822 
  
    Total assets 
    $3,357,852 
  
    LIABILITIES AND NET ASSETS 

    Current liabilities: 

    Accounts -payable trade 
    $38,530 
  
    Finance lease liability - current 
     419,073 
  
    Accrued expenses 
     597,217 
  
    Total current liabilities sold - discontinued operation 
     1,054,820 
  
    EIDL loan payable 
     51