Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 228

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 228
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 and warehouse space for
$2,200 per month under an operating lease that expired in January 2021 and was amended February 18, 2021, to extend the lease through
February 2023. The monthly rent under the extended lease was $2,350 per month for the first year of the lease and $2,500 per month for
the second year of the lease. On January 1, 2022, our discontinued operation also paid its monthly pro rata share (1.90% of total
rentable square footage) of the common area operating expenses increase over the common area operating expenses incurred by the landlord
in the calendar year 2021. On October 4, 2023, the Company sold its 51% equity interest in WCI. See Note 3.

Item
3. 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 principal (calculated as the aggregate settlement
amount, less payments made by the G Farma Settlors, plus the default addition) plus accrued and unpaid interest of $40,219, costs of
$1,643, and attorneys’ fees of $3,285 incurred by Mentor and Mentor Partner I in connection with obtaining the judgment. 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