Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1275

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9B
Chunk 1275
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1,045,051, respectively, plus accrued interest (“Settlement
Agreement”). On October 12, 2021, the parties filed a Stipulation for Dismissal and Continued Jurisdiction with the Superior Court
of California in the County of Marin. The Court ordered that it retain jurisdiction over the parties under Section 664.6 of the California
Code of Civil Procedure to enforce the Settlement Agreement until the performance in full of its terms is met.

    F-7

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

In
August 2022, September 2022, and October 2022, the G Farma Settlors failed to make monthly payments, and failed to cure each default
within 10 days’ notice from Company pursuant to the Settlement Agreement. 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. The judgment also accrues post-judgment interest
at the rate of 10% from July 11, 2023 until such time as the judgment is paid in full.

The
Company has retained the reserve on collections of the unpaid lease receivable balance due to the long history of uncertain payments
from G Farma. Payments from G Farma will be recognized in Other Income as they are received. We will continue to pursue collection from
the G Farma Settlors over time. No recovery payments have been received since October 11, 2022. The $2,539,597 judgment and interest
receivable of $375,025 for the twelve months ended December 31, 2024 is fully reserved pending the outcome of the Company’s collection
process. See Notes 8, 9, and 16.

On
December 21, 2018, Mentor paid $10,000 to purchase 500,000 shares of NeuCourt, Inc. (“NeuCourt”) common stock, representing
approximately 6.13% of NeuCourt’s issued and outstanding common stock at December 31, 2024.

Since
2003, the Company has held an interest in a facilities operations company, Waste Consolidators Inc. (“WCI”). The Company
purchased a 50% interest in WCI in 2003 and increased its ownership stake by 1% in 2014