Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 89

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 89
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continued operation. WCI had been a long-standing investment, but it no longer aligned with the Company’s central business
focus in the operating energy sector. The proceeds from the sale of our WCI shares has provided the Company with capital to seek out
new business opportunities in the classic energy space.

Mentor
IP, LLC

On
April 18, 2016, the Company formed Mentor IP, LLC (“MCIP”), a South Dakota limited liability company and wholly owned subsidiary
of Mentor. Since its inception, MCIP held interests related to patent rights. On October 24, 2023, the Company divested Mentor IP, LLC’s
intellectual property and licensing rights related to a certain United States and Canadian patent. The Company received no payment for
its divestment. Patent application and national phase maintenance fees were expensed when paid and there were no assets related to MCIP
patents represented on the consolidated financial statements at December 31, 2024 and 2023. Activity had been limited to payment of patent
application maintenance fees in Canada.

NeuCourt,
Inc.

NeuCourt,
Inc. (“NeuCourt”) is a Delaware corporation that is developing a technology that is expected to be useful to the dispute
resolution industry.

4

On
July 15, 2022, the Company and NeuCourt entered into an Exchange Agreement whereby the Company’s outstanding convertible promissory
notes and accrued interest, in an aggregate net amount of $83,756, was exchanged for a Simple Agreement for Future Equity (“SAFE”)
in equal face value. On January 20, 2023, the Company and NeuCourt entered into a SAFE Purchase Agreement, increasing the Company’s
aggregate SAFE Purchase Amount to $93,756. At December 31, 2024 and 2023, the SAFE Purchase Amount was $93,756. See Note 7.

On
December 21, 2018, the Company purchased 500,000 shares of NeuCourt Common Stock, approximately 6.13% of the issued and outstanding NeuCourt
shares at December 31, 2024.

Mentor
Partner I, LLC

Mentor
Partner I, LLC (“Partner I”) was reorganized under the laws of the State of Texas in February 2021. Partner I originally
held the contractual rights to lease payments from G FarmaLabs Limited (“G Farma”). It now holds a related
settlement and $2,539