Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 802

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 802
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 assurance
of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that
there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls
and procedures relative to their costs.

Based
on management’s evaluation, our chief executive officer and principal financial officer concluded that, as of December 31, 2024,
our disclosure controls and procedures are designed at a reasonable assurance level and are effective to provide reasonable assurance
that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized
and reported within the time periods specified in SEC rules and forms and that such information is accumulated and communicated to our
managers, including our chief executive officer and principal financial officer, as appropriate, to allow timely decisions regarding
required disclosure.

29

    (b)
    Changes
    in internal control over financial reporting.

We
regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls
and increase efficiency while ensuring that we maintain an effective internal control environment. Changes may include such activities
as implementing new, more efficient systems, consolidating activities, and migrating processes.

Effective
October 22, 2020, our former Chief Financial Officer agreed to provide services pursuant to a certain Contract Chief Financial Officer
Agreement; her consulting services relating to internal control remained similar, and she retained her position as Treasurer of the Company’s
Board of Directors and she served as a consultant CFO to the Company from time to time. Since January 1, 2023, the Company had also obtained
Chief Financial Officer and Certified Public Accountant services from a primary consultant CPA who consulted with our former Chief Financial
Officer and current Treasurer as needed. Consulting services remained similar to that of our former consultant CFO. Since July 1, 2024,
our former Chief Financial Officer has served as the primary consultant CPA to the Company. There have been no other changes in internal
control over financial reporting in the years ended December 31, 2024 and 2023.

    (c)
    Management’s
    report on internal control over financial reporting

The
Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting, as such
term is defined in Rule 13a-15(f) of the Exchange Act. The Company’s internal control system is designed to provide reasonable
assurance to the Company’s management and Board of Directors