Company: MNTR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021833
Chunk: 26

Company: Mentor Capital, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 26
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subordinated, promissory note in an initial principal face amount of $1,000,000 from Ally Waste Services, LLC (“Ally”) at
6% per annum. On the note maturity date, October 4, 2024, the Company received full payment of the one-year promissory note from Ally.
The payment consisted of the payment of the $1,000,000 initial principal face amount of the note plus accrued interest of $60,000.

Note
6 - Property and equipment

Property
and equipment are comprised of the following:

 Schedule of property, plant and equipment

    September 30,  2025  
    December 31,  2024 
  
    Computers 
    $42,091  
    $33,626 
  
    Furniture and fixtures 
     14,613  
     14,613 
  
    Machinery and vehicles 
     -  
     - 
  
    Gross property and equipment 
     56,704  
     48,239 
  
    Accumulated depreciation and amortization 
     (47,976) 
     (47,721)

    Net Property and equipment 
    $8,728  
    $518 

Depreciation
and amortization expense were $85 and $269 for the three months ended September 30, 2025 and 2024, and $255 and $807 for the nine months
ended September 30, 2025 and 2024, respectively.

    -19-

Note
7 – Convertible notes receivable

On
November 22, 2017, the Company invested $25,000 in NeuCourt, Inc. (“NeuCourt”) as a convertible note receivable. The note
bore interest at 5% per annum, originally matured November 22, 2019, and was amended to extend the maturity date to November 22, 2021.
No payments were required prior to maturity. However, at the time the November 22, 2017 note was extended, interest accrued through November
4, 2019, was remitted to Mentor. As consideration for the extension of the maturity date for the $25,000 note, a warrant to purchase
up to 25,000 shares of NeuCourt common stock at $0.02 per share was issued to Mentor.

On
October 31, 2018, the Company invested an additional $50,