Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 81

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 81
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 no payment for its divestment.
Patent application and maintenance fees have been expensed when paid and there were no assets related to the MCIP patents represented
on the condensed consolidated financial statements at June 30, 2025 and December 31, 2024.

NeuCourt,
Inc.

NeuCourt,
Inc. (“NeuCourt”) is a Delaware corporation that is developing a technology that is expected to be useful to the dispute
resolution industry.

On
July 15, 2022, the Company and NeuCourt entered into an Exchange Agreement whereby the Company’s outstanding convertible promissory
notes and accrued interest, in an aggregate net amount of $83,756, was exchanged for a Simple Agreement for Future Equity (“SAFE”)
in equal face value. On January 20, 2023, the Company and NeuCourt entered into a SAFE Purchase Agreement, increasing the Company’s
aggregate SAFE Purchase Amount to $93,756. At June 30, 2025 and December 31, 2024, the SAFE Purchase Amount was $93,756.

On
December 21, 2018, the Company purchased 500,000 shares of NeuCourt Common Stock, approximately 6.13% of the issued and outstanding NeuCourt
shares at June 30, 2025.

G
FarmaLabs Limited

On
August 27, 2021, the Company and Mentor Partner I entered into a Settlement Agreement and Mutual Release with G FarmaLabs Limited, its
affiliated entities, and guarantors (“G Farma Settlors”) to resolve and settle all outstanding claims on an unpaid finance
lease receivable and notes receivable of balances of $803,399 and $1,045,051, respectively, plus accrued interest (“Settlement
Agreement”). On October 12, 2021, the parties filed a Stipulation for Dismissal and Continued Jurisdiction with the Superior Court
of California in the County of Marin. The Court ordered that it retain jurisdiction over the parties under Section 664.6 of the California
Code of Civil Procedure to enforce the Settlement Agreement until the performance in full of its terms is met.

In
August 2022, September 2022, and October 2022, the G Farma Settlors failed to make monthly payments and failed to cure each default within
10 days’ notice from the Company pursuant to the Settlement Agreement. As a result, $2,000,000