Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 37

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 37
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060  
     3,000,000  
     -(1)(1) 
    $-(2)(2)

(1)Under the Board-approved
repurchase plan, the Company was authorized to repurchase up to 3,000,000 shares of the Company’s common stock. At December 31,
2024, a total of 0 of the Company’s common shares remained to be repurchased under the plan.

(2)Under the Board-approved
repurchase plan, the Company was authorized to spend up to $200,000 on the repurchase of the Company’s common stock. At December
31, 2024, the Company spent $183,993 on the repurchase of the Company’s common stock under the plan.

For
the three months ended March 31, 2025, no shares of the Company’s common stock were repurchased and no authorized repurchase plan
was in effect.

Preferred Stock

Mentor has 5,000,000, $0.0001 par value, preferred
shares authorized.

On July 13, 2017, the Company filed a Certificate
of Designation of Rights, Preferences, Privileges and Restrictions of Series Q Preferred Stock (“Certificate of Designation”)
with the Delaware Secretary of State to designate 200,000 preferred shares as Series Q Preferred Stock, such series having a par value
of $0.0001 per share. Series Q Preferred Stock is convertible into Common Stock, at the option of the holder, at any time after the date
of issuance of such share and prior to notice of redemption of such share of Series Q Preferred Stock by the Company, into such number
of fully paid and nonassessable shares of Common Stock as determined by dividing the Series Q Conversion Value by the Conversion Price
at the time in effect for such share.

The per share “Series Q Conversion Value,”
as defined in the Certificate of Designation, shall be calculated by the Company at least once each calendar quarter as follows: The per
share Series Q Conversion Value shall be equal to the quotient of the “Core Q Holdings Asset Value” divided by the number
of issued and outstanding shares of Series Q Preferred Stock. The “Core Q Holdings Asset Value” shall equal the value, as
calculated and published by the Company, of all assets that constitute Core Q Holdings which shall include such considerations as the
Company designates and need not accord with any established or commonly employed valuation method or considerations. “Core Q