Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 78

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 78
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 – Facilities Operations Segment

On
October 4, 2023, we sold and completely divested our majority controlling 51% interest in Waste Consolidators Inc. (“WCI”),
our facilities operations segment, that provides waste management and disposal services, including waste consolidation, bulk item pickup,
general property maintenance, and one-time clean-up services to business park owners, governmental centers, and apartment complexes in
Phoenix, Austin, San Antonio, Houston, and Dallas. Following the sale, the Company received no new income from WCI and had no further
involvement or continuing influence over its operations. WCI is now reported as a discontinued operation. WCI had been a long-standing
investment, but it no longer aligns with the Company’s central business focus in the energy sector. The $6,000,000 proceeds from
the sale of our WCI shares provided the Company with capital to seek out new business opportunities in the classic energy space of oil
and gas, coal, uranium, and related businesses which are Mentor Capital, Inc.’s focus.

-32-

Mentor
Capital, Inc.

The
Company’s target industry focus includes the classic energy sectors of oil, gas, coal, uranium, and related ventures. Additionally,
the Company has residual investments in legal dispute resolution services, collecting on an annuity-like financing, and the collection
of a judgment that it intends to continue to pursue. In 2023, the Company initially signaled a substantial return to its energy roots,
starting with a tracking investment in New York Stock Exchange energy companies in the oil and gas, coal, and uranium industries.

In
March 2025, the Company acquired three fractional, non-operating royalty interests in oil and gas properties covering approximately one-hundred
twenty-one (121) wells in the Spraberry Field of the Permian Basin in West Texas, through related public auctions for total consideration
of $1,369,899 as follows:

    ○
    On
    March 20, 2025, Mentor Capital, Inc. purchased an average of 0.0332439% oil and gas royalty interests in seven (7) producing horizontal
    wells and a royalty interest of approximately 0.15625% in two (2) non-producing mineral wells located in the Permian Basin situated
    in Howard County, Texas from Bluestem Royalty Partners, LP, a Texas limited partnership, for a total acquisition cost of $60,980.
    Prior to the Company’s