Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1096

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1096
---

    Directors

    Date:
    March 31, 2025
    By:
    
    /s/
    Lori Stansfield

    Lori
    Stansfield

    Director
    and Treasurer

    Date:
    March 31, 2025
    By:
    /s/
    Marcia Meyer 

    Marcia
    Meyer

    Director
    and Secretary

41

4601 DTC BOULEVARD
● SUITE 700

DENVER, COLORADO 80237

TELEPHONE: (303) 753-1959

FAX: (303) 753-0338

www.spicerjeffries.com

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Shareholders and Board of Directors of

Mentor Capital, Inc.

Opinions
on the Financial Statements

We have audited the accompanying consolidated balance sheets of Mentor
Capital, Inc. (the “Company”) as of December 31, 2024 and 2023, and the related consolidated income statements, changes in
shareholders’ equity (deficit) and cash flows for the years then ended, and the related notes (collectively referred to as the “financial
statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company
as of December 31, 2024 and 2023, and the results of its consolidated income statements and its cash flows for the years then ended, in
conformity with accounting principles generally accepted in the United States of America.

Basis
for Opinion

These financial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public
accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to
be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are
free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an
audit of its internal control over financial reporting. As part of our audit