Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 53

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 53
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ivable of $437,646 at March 31, 2025
in favor of the Company and Partner I.

Mentor Partner II, LLC

Mentor Partner II, LLC (“Partner II”)
was reorganized under the laws of the State of Texas in February 2021. Partner II originally held the contractual rights to lease payments
from Pueblo West, which was paid off by a final payment of $245,369 on September 28, 2022.

TWG, LLC

On October 4, 2022, the Company formed TWG, LLC (“TWG”),
a Texas limited liability company, as a wholly owned subsidiary of Mentor in order to prepare to fulfill certain February 16, 2022 modification
agreement performance obligations related to installment payments the Company receives from a non-affiliated party.

Ally Waste Services, LLC

On October 4, 2023, in connection with the sale of
the Company’s 51% ownership interest in WCI, the Company received a one-year unsecured, subordinated, promissory note in initial
principal face amount of $1,000,000 from Ally Waste Services, LLC (“Ally”) at 6% per annum. The $1,000,000 initial principal
face amount of the note plus accrued interest of $60,000 was paid by Ally on October 4, 2024.

Overview

The
Company maintains a diverse and opportunistic acquisition focus. It sold its former legacy investment in the former facilities
operations segment and continues looking to expand into the classic energy markets of oil, gas, coal, uranium, and related
businesses. The Company signaled a substantial return to its energy roots, starting with a tracking investment in six New York Stock
Exchange energy companies in the oil and gas, coal, uranium, and pipeline markets. 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. The
royalty interests entitle the Company to receive a proportional share of revenues generated from the production of hydrocarbons from
the underlying property, without incurring any operating or production costs.

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Business Approach

The Company’s primary aim is to acquire revenue-generating
energy assets, such as oil and gas