Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 1077

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1077
---
MENTOR
CAPITAL, INC.

INDEX
TO CONSOLIDATED FINANCIAL STATEMENTS

    Page
  
    Report of Independent Registered Public Accounting Firm (PCAOB ID: 349)
    F-1
  
    Financial
    Statements:

    Consolidated Balance Sheets
    F-2
  
    Consolidated Income Statements
    F-4
  
    Consolidated Statements of Changes in Shareholders’ Equity (Deficit)
    F-5
  
    Consolidated Statements of Cash Flows
    F-6
  
    Notes to Consolidated Financial Statements
    F-7

28

Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

On
May 8, 2024, the relationship between our Company and the firm of BF Borgers CPA PC (“BF Borgers”), our independent accountant,
was terminated upon the recommendation of the Company’s Audit Committee and by the unanimous approval of the Company’s Board
of Directors.

In
connection with the audit of our financial statements as of and for the fiscal years ended December 31, 2023 and 2022, there were no disagreements
with BF Borgers on any matter of accounting principles or practices, financial statement disclosure, or auditing scope of procedures,
which disagreements, if not resolved to the satisfaction of BF Borgers, would have caused them to make reference in connection with its
reports to the subject matter of the disagreements. No “disagreement” and no “reportable event” leading to a
difference of opinion as defined in Item 304(a)(1)(iv) and Item 304(a)(1)(v) of Regulation S-K of the SEC’s rules and regulations
have occurred during the fiscal years ended December 31, 2022 and 2023, as of May 8, 2024, or preceding the dismissal of BF Borgers.

The
audit report of BF Borgers on our financial statements as of and for the year ended December 31, 2023 and 2022 did not contain an adverse
opinion or disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope, or accounting principles, other than
an explanatory paragraph relating to the Company’s ability to continue as a going concern on the Company’s December 31, 2022
financials.

BF
Borgers furnished us with a letter addressed to the Commission stating that it agreed with the above statements. A copy of BF
Borgers’ letter was attached