Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 477

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 477
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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 to the Company’s current report on Form 8-K filed with the Securities and
Exchange Commission on May 8, 2024.

On
May 15, 2024, the Company’s audit committee and Board of Directors unanimously approved the engagement of Spicer Jeffries LLP (“Spicer
Jeffries”) as the Company’s independent registered public accountant, effective immediately. During the two most recent fiscal
years and the subsequent interim period prior to their engagement, there were no consultations between us and Spicer Jeffries prior to
their appointment concerning (i) the application of accounting principles to a specified transaction, either completed or proposed; or
the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor oral advice
was provided to the Company that Spicer Jeffries concluded was an important factor considered by the Company in reaching a decision as
to the accounting, auditing or financial reporting issue; (ii) any matter that was the subject of a disagreement (as defined in Item
304(a)(1)(iv) of Regulation S-K); or (iii) any reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).

Item
9A. Controls and Procedures.

    (a)
    Evaluation
    of disclosure controls and procedures

Management,
with the participation of our chief executive officer and principal financial officer, evaluated the effectiveness of our disclosure
controls and procedures pursuant to Rule 13a-15 under the Exchange Act. In designing and evaluating the disclosure controls and procedures,
management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance
of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that
there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls
and procedures relative to their