Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 131

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1A
Chunk 131
---
 expectations reflected in
our forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Neither
we nor any other person assumes responsibility for the accuracy and completeness of these statements. Accordingly, we caution readers
not to place undue reliance on these statements. Where required by applicable law, we will undertake to update any disclosures or forward-looking
statements.

-40-

If we are unable to protect our royalty
interests and property, our competitive position would be adversely affected.

We and our partners and subsidiaries intend to rely
on contracts and agreements with to protect our property rights. If we, or our affiliates and partners, fail to protect property rights,
including our royalty interest rights, our business, financial condition, and results of operations would suffer. In the future, we may
be forced to pay significant amounts to defend our rights, and a substantial amount of the attention of our management may be diverted
from our ongoing business, all of which would materially adversely affect our business.

We depend on our key personnel and may have
difficulty attracting and retaining the skilled staff and outside professionals we need to execute our growth plans.

Our success will be dependent largely upon the personal
efforts of our Chief Executive Officer, Chet Billingsley. The loss of Mr. Billingsley could have a material adverse effect on our business
and prospects. Currently, we have two full-time employees, and we substantially rely on the services provided by outside professionals.
To execute our plans, we will have to retain our current employees and work with outside professionals who we believe will help us achieve
our goals. Competition for recruiting and retaining highly skilled employees with technical, management, marketing, sales, product development,
and other specialized training is intense. We may not be successful in employing and retaining such qualified personnel. Specifically,
we may experience increased costs in order to retain skilled employees. If we are unable to retain experienced employees and the services
of outside professionals as needed, we may be unable to execute our business plan

Founder and CEO Chet Billingsley, along
with other members of the Company’s Board of Directors, have considerable control over the company through their aggregate ownership
of approximately 14.48% of the outstanding shares of the Company’s Common Stock on a fully diluted basis.

As of March 31, 2025, Mr. Billingsley owned approximately
8.38% of the outstanding shares of the Company’s Common Stock on a fully diluted basis. Together with other members of the Company’s