Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 44

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 44
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2023, and (iv) increasing by an additional $1,000 per month on each succeeding
September 5th thereafter, until the settlement amount and accrued unpaid interest is paid in full. Interest on the unpaid
balance shall initially accrue at the rate of 4.25%, commencing February 25, 2021, and shall be adjusted on February 25th
of each year to equal the Prime Rate as published in the Wall Street Journal plus 1%. In the event that the G Farma Settlors fail to
make any monthly payment and have not cured such default within 10 days of notice from the Company, the parties have stipulated that
an additional $2,000,000 will be immediately added to the amount payable by the G Farma Settlors.

    -29-

In
August, September, 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. As a result, $2,000,000 was added to the amount payable by the
G Farma Settlors in accordance with the terms of the Settlement Agreement. The Company and Partner I sought entry of a stipulated judgment
against the G Farma Settlors for (1) $494,450, the remaining amount of the $500,000 settlement amount which has not yet been paid by
the G Farma Settlors plus $2,000,000 and all accrued unpaid interest, (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 in 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 full.

The
Company has retained the full reserve