Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1853

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 1853
---
 17,573 

    Total computed expected tax (benefit) 
     (173,077) 
     666,036 
  
    Permanent differences and other
     114,777  
     (393,736)
  
    Change in valuation 
     58,300 
     (272,300)
  
    Federal income tax provision 
    $-  
    $- 

    (1)
    We
    sold our entire ownership interest in WCI on October 4, 2023 and as a result WCI is excluded from our continuing operations and presented
    as discontinued operations. See Note 3.

    F-41

Mentor
Capital, Inc.

Notes
to Consolidated Financial Statements

December
31, 2024 and 2023

The
significant components of deferred income tax assets as of December 31, 2024 and 2023 after applying enacted corporate income tax rates
are as follows:

 Schedule of deferred tax assets

    2024  
    2023 
  
    Net Operating Losses carried forward from continuing operations 
    $1,957,000   
    $1,913,000 
  
    Capital Losses carried forward 
     -   
     156,600 
  
    Deferred - Other 
     54,000   
     - 
  
    Valuation allowance 
     (2,011,000 ) 
     (2,069,600)
  
    Deferred tax assets 
    $-   
    $- 

The
Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. All tax years from 2020
to 2023 are subject to examination.

Note
19 – Subsequent events

Management evaluated subsequent events through the date these financial statements were issued and concluded that
no events subsequent to December 31, 2024 have occurred that would require recognition or disclosure, except as noted below.

Subsequent to year-end, on March 17, 2025, Mentor
Capital, Inc. purchased 3 (three) kilograms of gold bullion for $295,328.

Subsequent to year-end, on March 20, 2025, Mentor
Capital, Inc. purchased oil and gas royalty interests in seven (7) horizontal wells and a royalty interest of approximately 0.15625%
in two (2) producing mineral wells located in the Permian Basin