Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 90

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 90
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,591 judgment receivable plus interest receivable of $375,025 at December 31, 2024 in favor of the Company and
Partner I. In 2018, Mentor contributed $996,000 of capital to Partner I to facilitate the purchase of manufacturing equipment to be
leased from Partner I by G Farma and related entities (collectively, the “G Farma Entities”), under a Master Equipment
Lease Agreement dated January 16, 2018, as amended. Partner I acquired and delivered manufacturing equipment as selected by G Farma
Entities under sales-type finance leases. During the years ended December 31, 2024 and 2023, Mentor withdrew no capital from Partner
I. Partner I did not have any sales revenue for the years ended December 31, 2024 or 2023. There was no interest income recognized
from Partner I finance leases for the years ended December 31, 2024 and 2023. The finance leases resulting from this investment have
been fully impaired as of December 31, 2024 and 2023, due to circumstances described in Note 9 to the consolidated financial
statements.

Mentor
Partner II, LLC

Mentor
Partner II, LLC (“Partner II”) was reorganized under the laws of the State of Texas in February 2021. Partner II originally
held the contractual rights to lease payments from Pueblo West Organics, LLC (“Pueblo West”) which was paid in full to Partner
II on September 28, 2022. On February 8, 2018, Mentor contributed $400,000 to Partner II to facilitate the purchase of manufacturing
equipment to be leased from Partner II by Pueblo West, under a Master Equipment Lease Agreement, dated February 11, 2018. On March 12,
2019, Mentor agreed to use Partner II earnings of $61,368 to facilitate the purchase of additional manufacturing equipment to Pueblo
West under a Second Amendment to the lease. On September 27, 2022, Pueblo West exercised its lease prepayment option and purchased the
manufacturing equipment for $245,369. On September 28, 2022 Partner II transferred full title to the equipment to Pueblo West. During
the years ended December 31, 2024 and 2023, Mentor withdrew no capital from Partner II. During the year ended December 31, 2024 and 2023,
Partner II recognized finance revenue of